Journal of Family Business Strategy最新文献

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Family Ownership Dispersion and Dividend Payout in Family Firms 家族企业的股权分散与股利支付
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-09-01 DOI: 10.1016/j.jfbs.2021.100436
Danny Miller , Mario Daniele Amore , Fabio Quarato , Guido Corbetta
{"title":"Family Ownership Dispersion and Dividend Payout in Family Firms","authors":"Danny Miller ,&nbsp;Mario Daniele Amore ,&nbsp;Fabio Quarato ,&nbsp;Guido Corbetta","doi":"10.1016/j.jfbs.2021.100436","DOIUrl":"10.1016/j.jfbs.2021.100436","url":null,"abstract":"<div><p>Dividends are an important means of paying shareholders. At the same time, dividends can drain resources useful to grow the business. Focusing on privately-owned family firms, we argue that an important and unexplored feature driving dividend payout is the dispersion of equity shares among family members. Due to potential differences in family owners’ priorities, we hypothesize that equity dispersion is positively associated with dividends. This relationship, however, is weaker for firms led by a family member, first-generation firms, and firms in uncertain industry contexts. Our empirical analysis supports these hypotheses.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 3","pages":"Article 100436"},"PeriodicalIF":7.2,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jfbs.2021.100436","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90325441","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 7
Is blood thicker than water? Exploring the impact of family firms’ familial social relations with other firms within their industries 血浓于水吗?探讨家族企业的家族社会关系对行业内其他企业的影响
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-09-01 DOI: 10.1016/j.jfbs.2021.100471
Inés Herrero , Mathew Hughes , Bárbara Larrañeta
{"title":"Is blood thicker than water? Exploring the impact of family firms’ familial social relations with other firms within their industries","authors":"Inés Herrero ,&nbsp;Mathew Hughes ,&nbsp;Bárbara Larrañeta","doi":"10.1016/j.jfbs.2021.100471","DOIUrl":"10.1016/j.jfbs.2021.100471","url":null,"abstract":"<div><p>The benefits or drawbacks of family social capital for family firm performance are hotly debated among scholars. Most of the debate adopts an internal view of family social capital and focuses on familial relations taking place <em>within</em> the boundaries of the family firm or the family business group. However, overlooked in this debate is the role of potentially valuable family bonds held with family members <em>outside</em> the family firm and the family business group’s boundaries—family members working for other firms without ownership connections. We strive to advance this debate by placing the focus on a new category of family social capital originating from social relations with family members working in other firms in the same industry. In so doing, we theoretically and empirically tease out how the number of ties with family members located in other independent firms within the boundaries of a given industry affects family firms’ performance. We also account for the moderating effect on this baseline relationship of the number of ties with members of other firms not bearing a family connection. In so doing, we add new insights to address the paradox among family firm studies about why seemingly vital social relations only sometimes matter for family firm performance.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 3","pages":"Article 100471"},"PeriodicalIF":7.2,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"81239437","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 12
Thirty years of research in family business journals: Status quo and future directions 家族企业期刊研究三十年:现状与未来方向
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-09-01 DOI: 10.1016/j.jfbs.2021.100422
Paola Rovelli , Marcos Ferasso , Alfredo De Massis , Sascha Kraus
{"title":"Thirty years of research in family business journals: Status quo and future directions","authors":"Paola Rovelli ,&nbsp;Marcos Ferasso ,&nbsp;Alfredo De Massis ,&nbsp;Sascha Kraus","doi":"10.1016/j.jfbs.2021.100422","DOIUrl":"https://doi.org/10.1016/j.jfbs.2021.100422","url":null,"abstract":"<div><p>Family firms are the most ubiquitous form of business organization in any world economy. <em>Family Business Review</em>, <em>Journal of Family Business Strategy</em>, and <em>Journal of Family Business Management</em> are the three leading academic journals exclusively dedicated to this type of firms. Since the inception of the first of the three journals in 1988, these outlets published 1381 articles dealing with family business. This study offers a comprehensive bibliometric overview of these contributions, thereby providing a complete overview of family business research conducted in the three dedicated journals in this field, and laying the ground for future developments. We do not limit our effort to describe the field from a bibliometric perspective, but furthermore unearth the most debated topics, link thematically the aspects emerging from our review, and offer promising avenues for future research.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 3","pages":"Article 100422"},"PeriodicalIF":7.2,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jfbs.2021.100422","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"91646103","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 100
Successful family firm succession: Transferring external social capital to a shared-leadership team of siblings 成功的家族企业继承:将外部社会资本转移到兄弟姐妹共同领导的团队
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-09-01 DOI: 10.1016/j.jfbs.2021.100467
Luis Cisneros , Bérangère Deschamps , Gabriel M. Chirita , Sébastien Geindre
{"title":"Successful family firm succession: Transferring external social capital to a shared-leadership team of siblings","authors":"Luis Cisneros ,&nbsp;Bérangère Deschamps ,&nbsp;Gabriel M. Chirita ,&nbsp;Sébastien Geindre","doi":"10.1016/j.jfbs.2021.100467","DOIUrl":"10.1016/j.jfbs.2021.100467","url":null,"abstract":"<div><p>Studies on succession in family business have recognized the importance of the transfer of social capital to ensure a firm’s continuity and growth. However, although previous research has focused on succession as a one-to-one phenomenon, more and more successions in the real world are collective successions. Therefore, this study focuses on the transfer of external social capital (ESC) from a predecessor to a team of siblings because succession to a shared-leadership team changes the traditional way of transferring ESC. Using a qualitative analysis of six Canadian family companies, we show how a sibling succession process evolves for ESC transfer. We also demonstrate how predecessors transfer operational ESC on an individual basis and strategic ESC on a collective basis to the shared-leadership team. The findings also explain how successors acquire their predecessors’ ESC and use their own ESC to renew firm ESC. Those outcomes are summarized in seven propositions.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 3","pages":"Article 100467"},"PeriodicalIF":7.2,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75233998","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 6
Advancing family business research through modeling nonlinear relationships: Comparing PLS-SEM and multiple regression 通过非线性关系建模推进家族企业研究:PLS-SEM与多元回归的比较
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-09-01 DOI: 10.1016/j.jfbs.2021.100457
Rodrigo Basco , Joseph F. Hair Jr. , Christian M. Ringle , Marko Sarstedt
{"title":"Advancing family business research through modeling nonlinear relationships: Comparing PLS-SEM and multiple regression","authors":"Rodrigo Basco ,&nbsp;Joseph F. Hair Jr. ,&nbsp;Christian M. Ringle ,&nbsp;Marko Sarstedt","doi":"10.1016/j.jfbs.2021.100457","DOIUrl":"10.1016/j.jfbs.2021.100457","url":null,"abstract":"<div><p>While nonlinear relationships play an important role in explaining distinct family business behaviors and outcomes, researchers rarely consider them in their theoretical and statistical models. To address this concern, this article introduces partial least squares structural equation modeling (PLS-SEM) as a suitable means for estimating nonlinear effects in latent variable models and describes its advantages vis-à-vis multiple (sum scores) regression. We conceptually compare and empirically illustrate the two methods by means of a family business research model. Based on our discussions, we provide family business researchers with a checklist of best practice recommendations when applying PLS-SEM. The article adds new methodological instruments to the family business researchers’ toolbox that enable them to explain and explore the mutual and often nonlinear interactions between family and business. Thereby, this research contributes to more rigorous and meaningful family business science.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 3","pages":"Article 100457"},"PeriodicalIF":7.2,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88184049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 40
Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms 附加条件:家族企业现金管理选择中的社会情感财富混合赌博
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-09-01 DOI: 10.1016/j.jfbs.2021.100466
Domenico Rocco Cambrea , Yuliya Ponomareva , Daniel Pittino , Alessandro Minichilli
{"title":"Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms","authors":"Domenico Rocco Cambrea ,&nbsp;Yuliya Ponomareva ,&nbsp;Daniel Pittino ,&nbsp;Alessandro Minichilli","doi":"10.1016/j.jfbs.2021.100466","DOIUrl":"10.1016/j.jfbs.2021.100466","url":null,"abstract":"<div><p>Family owners differ from other types of owners due to the presence of socioemotional wealth (SEW) concerns. We take a closer look at this distinctive aspect by examining the impact of family control and influence dimension of SEW on the cash management choices of family firms, conceptualizing it as a mixed gamble choice. Our empirical analysis of 195 Italian firms listed on the Milan Stock Exchange between 2003 and 2015 shows that family firms derive more value and incur lower costs than nonfamily firms when they increase their cash holdings. We then delve deeper into family firms’ cash management choices by exploring how different levels of family control and influence as well as types of board governance arrangements moderate this relationship. The empirical results indicate that the positive effects of family ownership are more pronounced under a high level of family control and influence and with separation of the board chair and CEO positions.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 3","pages":"Article 100466"},"PeriodicalIF":7.2,"publicationDate":"2022-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://www.sciencedirect.com/science/article/pii/S1877858521000474/pdfft?md5=cb2cffcd258065a537bd2310dbe06f69&pid=1-s2.0-S1877858521000474-main.pdf","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"78642685","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"OA","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 9
Family firm succession through the lens of technology intelligence 从技术智能的角度看家族企业的继承
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-06-01 DOI: 10.1016/j.jfbs.2022.100485
Moren Lévesque , Annapoornima M. Subramanian
{"title":"Family firm succession through the lens of technology intelligence","authors":"Moren Lévesque ,&nbsp;Annapoornima M. Subramanian","doi":"10.1016/j.jfbs.2022.100485","DOIUrl":"10.1016/j.jfbs.2022.100485","url":null,"abstract":"<div><p>Succession is often a critical event in the lifecycle of any organization. Consequently, an extensive body of literature explores family firm succession, and includes studies on integrated succession frameworks. Notwithstanding the large, illuminating body of literature, we believe that family firm succession is worth a fresh reexamination and consolidation to translate the findings into a powerful planning and communication tool, especially as all firms are facing a ‘new normal’ and their leaders are seeking novel perspectives and approaches amidst the COVID-19 disruption. We thus offer a systemic and systematic framework for family firm succession planning, incorporating ideas from the technology intelligence literature. Since relationship building can ease the succession process and relationships are built through communication, we also present a succession roadmap as a communication tool that can assist in making this process part of the regular business routines.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 2","pages":"Article 100485"},"PeriodicalIF":7.2,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80110404","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
Benefitting from benefits—A comparison of employee satisfaction in family and non-family firms 受益于利益——家族企业与非家族企业员工满意度的比较
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-06-01 DOI: 10.1016/j.jfbs.2020.100351
Stephanie Querbach , Matthias Waldkirch , Nadine Kammerlander
{"title":"Benefitting from benefits—A comparison of employee satisfaction in family and non-family firms","authors":"Stephanie Querbach ,&nbsp;Matthias Waldkirch ,&nbsp;Nadine Kammerlander","doi":"10.1016/j.jfbs.2020.100351","DOIUrl":"10.1016/j.jfbs.2020.100351","url":null,"abstract":"<div><p>Job benefits can raise employee satisfaction and thus contribute to a firm’s overall success. However, little is known about how job benefits impact employee satisfaction across different forms of organizations. In this study, we argue that family and non-family firms differ in their social exchange systems and that the fit between the prevalent social exchange system and three types of job benefits (i.e., job benefits of care, status, and life quality) offered to employees influences the extent to which job benefits affect employee satisfaction. We build on a dataset of 2,180 German family and non-family firms gathered from an online employer review platform (Kununu) to test our hypotheses. Results show that job benefits of care lead to more employee satisfaction in family firms, while non-family firms profit more in terms of employee satisfaction from job benefits of life quality. Counterintuitively, we find that job benefits of status lead to higher employee satisfaction in family firms. We contribute to the knowledge on family firms as employers as well as job benefits and employee satisfaction.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 2","pages":"Article 100351"},"PeriodicalIF":7.2,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jfbs.2020.100351","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83093350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 14
Family business, community embeddedness, and civic wealth creation 家族企业、社区嵌入和公民财富创造
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-06-01 DOI: 10.1016/j.jfbs.2021.100469
G.T. Lumpkin , Sophie Bacq
{"title":"Family business, community embeddedness, and civic wealth creation","authors":"G.T. Lumpkin ,&nbsp;Sophie Bacq","doi":"10.1016/j.jfbs.2021.100469","DOIUrl":"10.1016/j.jfbs.2021.100469","url":null,"abstract":"<div><p>Family businesses exhibit a strong commitment to address societal challenges and social ills with direct consequences for the neighborhoods, cities, and regions where the businesses are located. In this article, we link these community-minded activities to the idea of <em>civic wealth creation</em> (CWC), a term that captures the local flavor of many positive social change efforts being launched to improve and empower communities. Because of their high degree of <em>community embeddedness</em> (CE), that is, the extent to which an organization is associated with, relies on, and perceives a commitment to its community, we argue that family businesses are especially effective civic wealth creators. To illustrate, we present two examples of the CE–CWC relationship—Bush Brothers &amp; Company in the U.S., and a cluster of Mittelstand companies in Attendorn, Germany. We discuss the practical implications of CE for family businesses and address several future research avenues for investigating CE and the CWC of family firms.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 2","pages":"Article 100469"},"PeriodicalIF":7.2,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"88271705","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 11
Family leadership, family involvement and mutuality HRM practices in family SMEs 家族型中小企业的家族领导、家族参与与互助型人力资源管理实践
IF 7.2 1区 管理学
Journal of Family Business Strategy Pub Date : 2022-06-01 DOI: 10.1016/j.jfbs.2021.100468
Giulia Flamini , Daniel Pittino , Francesca Visintin
{"title":"Family leadership, family involvement and mutuality HRM practices in family SMEs","authors":"Giulia Flamini ,&nbsp;Daniel Pittino ,&nbsp;Francesca Visintin","doi":"10.1016/j.jfbs.2021.100468","DOIUrl":"10.1016/j.jfbs.2021.100468","url":null,"abstract":"<div><p>In the present study we argue that a more fine-grained perspective, taking into account different situations of family members’ involvement and the actual implementation of HRM practices and policies, is needed to provide an accurate picture of family firms as employers. Our study is carried out on a unique sample of 849 family firms in Italy and focuses on the conditions and consequences of adopting mutuality-promoting HRM practices in the family business context.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":"13 2","pages":"Article 100468"},"PeriodicalIF":7.2,"publicationDate":"2022-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82377809","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 8
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