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Author: Vanessa Diaz Moriana
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Family firms manage for the long run. In effect, family firms have a long-term orientation (LTO), which is defined as the propensity of a firm to prioritise long-term implications that materialise only after an extended period of time. LTO is manifested in the organisational mind-set of the firm and more visibly through the firm's strategic decision-making. Building on the multi-dimensional LTO construct (i.e., futurity, continuity and perseverance) proposed by Lumpkin and Brigham (2011), this exploratory study investigates: (1) how LTO manifests in multi-generational family firms, (2) its influence on the entrepreneurial orientation (EO) of the firms and (3) its association with non-economic goals. Through a stewardship lens, this thesis explores four in-depth case studies of multi-generational (second to seventh generation) Irish firms. This study makes important contributions to research in the field. First, it brings temporality to the forefront of family business research by exploring a temporal construct grounded in the family business field. It is the first case study-based empirical examination of the LTO construct and proposes a set of codes to capture its distinct dimensions of futurity, continuity and perseverance in multi-generational family firms. Second, this study explores the influence of LTO on the EO of the firms and shows that paradoxical tensions permeate family firms' strategic decision-making. These tensions surface when innovativeness, proactiveness or risk-taking conflict with family goals. Third, this study finds that the non-economic goals pursued by the firms are family-centred and require a long-term perspective, and consequently, they influence the decisions made by the firms in line with long-term thinking. The findings are captured in a set of propositions developed to stimulate further research.
Author: Vanessa Diaz Moriana
Publisher:
ISBN:
Category :
Languages : en
Pages : 0
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Book Description
Family firms manage for the long run. In effect, family firms have a long-term orientation (LTO), which is defined as the propensity of a firm to prioritise long-term implications that materialise only after an extended period of time. LTO is manifested in the organisational mind-set of the firm and more visibly through the firm's strategic decision-making. Building on the multi-dimensional LTO construct (i.e., futurity, continuity and perseverance) proposed by Lumpkin and Brigham (2011), this exploratory study investigates: (1) how LTO manifests in multi-generational family firms, (2) its influence on the entrepreneurial orientation (EO) of the firms and (3) its association with non-economic goals. Through a stewardship lens, this thesis explores four in-depth case studies of multi-generational (second to seventh generation) Irish firms. This study makes important contributions to research in the field. First, it brings temporality to the forefront of family business research by exploring a temporal construct grounded in the family business field. It is the first case study-based empirical examination of the LTO construct and proposes a set of codes to capture its distinct dimensions of futurity, continuity and perseverance in multi-generational family firms. Second, this study explores the influence of LTO on the EO of the firms and shows that paradoxical tensions permeate family firms' strategic decision-making. These tensions surface when innovativeness, proactiveness or risk-taking conflict with family goals. Third, this study finds that the non-economic goals pursued by the firms are family-centred and require a long-term perspective, and consequently, they influence the decisions made by the firms in line with long-term thinking. The findings are captured in a set of propositions developed to stimulate further research.
Author: M. Nordqvist
Publisher: Edward Elgar Publishing
ISBN: 1849805466
Category : Business & Economics
Languages : en
Pages : 237
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Book Description
Introducing a new concept in family businesses Transgenerational Entrepreneurship addresses how these businesses achieve growth and longevity through entrepreneurial activities. It focuses on the resources, capabilities and mindsets that families develop and draw upon in order to be entrepreneurial across generations, and presents findings from an international research collaboration between family business researchers and practitioners. In addition to a comprehensive conceptual chapter, the editors include a unique set of empirical case-based research papers that investigates transgenerational entrepreneurship in different European contexts. They bring together and integrate frontier research on entrepreneurship and family business, as well as provide a basis for future research. Academics, teachers and students in business and management, entrepreneurship and family business will find this path-breaking book of value, as will libraries, policy makers and consultants.
Author: Alfredo De Massis
Publisher: Edward Elgar Publishing
ISBN: 1781002983
Category : Business & Economics
Languages : en
Pages : 369
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Book Description
ÔThis book provides a thorough review and compendium of important family business research. It should be in the personal library of every family business scholar and graduate student involved in this vital field of study.Õ Ð Michael A. Hitt, Texas A&M University, US ÔA systematic review of the field and an incredibly useful reference book for anyone involved in studying or teaching family business.Õ Ð Sara Carter OBE FRSE, Strathclyde Business School, UK ÔThis book offers a succinct but thorough overview of how our understanding of significant issues in family business has evolved through rigorous research. This annotated bibliography of the 215 top-cited family business studies provides the empirical evidence and the basis for insightful comments from the authors on topics which will benefit from further scholarly debate and research. The authors are to be congratulated for making accessible those research contributions which have the potential to make a meaningful difference to the practice of family business.Õ Ð Jill Thomas, The University of Adelaide Business School, Australia ÔI highly recommend the annoted bibliography by De Massis, Sharma, Chua, and Chrisman to experienced scholars as well as to incoming researchers. The authors selected carefully (and in a transparent manner) relevant papers and summarized them in a way that provides a helpful basis for future research. Well done!Õ Ð Sabine B. Rau, WHUÐOtto Beisheim School of Management, Germany ÔA welcome addition to the field of family business studies! Offers an update and thorough compendium of relevant research conducted within the last 15 years. A most useful reference for doctoral students, established scholars and thoughtful practitioners. Importantly, the first three chapters offer critical commentary and synthesis that go well beyond what one typically finds in an annotated bibliography. Overall, this book offers a solid foundation for moving the study of family business forward.Õ Ð Lloyd Steier, University of Alberta, Canada ÔIf I had been asked to suggest the currently most-needed editorial endeavor for advancing family business studies, I would have answered with no hesitation: an up-to-date annotated bibliography. The fieldÕs growth over the past 15 years has been so intense, that even experts who devote most of their research efforts to family business Ð not to mention younger scholars approaching the field Ð will significantly benefit from De Massis, Sharma, Chua, and ChrismanÕs indispensable work.Õ Ð Carlo Salvato, Bocconi University, Italy and Associate Editor, Family Business Review This book catalogues the 215 most-cited empirical, theoretical, and practical articles on family business published in 33 journals since 1996. Researchers, students, and practicing managers will find it indispensable as a quick reference and guide to what we have learned about family firms. Annotations for the articles consist of: summary of key findings, research questions, contributions, and research implications. They also include a detailed description of the methodologies, empirical data, definitions, and conceptual models used. In addition, the book features chapters that review the literature, discuss how family businesses have been defined, present recent trends in family business empirical research, and provide an agenda for future research. Scholars, researchers and PhD students in the fields of family business, entrepreneurship, organization theory, management, economics, finance, anthropology, sociology and business history will find this compendium insightful. The topics covered in the book will also prove to be essential to practitioners Ð both advisors and operators of family enterprises Ð as it will provide evidence-based knowledge on the issues and dilemmas faced by them in everyday life.
Author: Hans Landstr”m
Publisher: Edward Elgar Publishing
ISBN: 1848443951
Category : Business & Economics
Languages : en
Pages : 377
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Book Description
Collectively, the authors present an informative overview of some of the best European research in entrepreneurship that exists at present. In addition, the variation in research traditions and approaches offer the reader an interesting insight into the various disciplinary perspectives that can shed light on entrepreneurial activities, including insights from psychology, sociology, finance and strategy. The attempt to examine both individual and firm-level analysis is also a strength of this book, given that the majority of entrepreneurship research tends to focus on just one of these streams and there is a dearth of work that is able to integrate and understand both dimensions simultaneously. . . the book provides value for money for those whom entrepreneurship research within a European context is a particular interest. Jean Clarke, International Journal of Entrepreneurial Behaviour and Research This book brings together some of Europe s finest scholars, showcasing the richness, diversity and quality of European entrepreneurship research. Collectively, the authors present an authoritative overview of state-of-the-art research on current entrepreneurship themes. This book is a must read for scholars, policymakers, and students interested in staying updated about the current state of entrepreneurship research. Johan Wiklund, Syracuse University, US The 20th edition of the RENT conference took place where it started 20 years ago: in the European capital , Brussels. The current volume presents the best papers of this conference and offers a grand view of the state of the art of European entrepreneurship research. Drivers as well as consequences are dealt with from many different angles. Taken together it gives a thorough description of the scarcest and most essential of all input factors of the modern economy: entrepreneurship. Roy Thurik, Erasmus University Rotterdam, The Netherlands This book provides an invaluable, state-of-the-art overview of current European research in the field of entrepreneurship. It focuses on four themes, each of which illustrates a key dimension in the overall theme: entrepreneurs and their role in entrepreneurship entrepreneurship in family businesses performance of new ventures and entrepreneurial processes. Entrepreneurship, Sustainable Growth and Performance is written from various perspectives by eminent academics with different methodological approaches. It is an invaluable resource for researchers, scholars and students as well as consultants and policymakers with an interest in entrepreneurship and small businesses.
Author: Alan L. Carsrud
Publisher: Springer Science & Business Media
ISBN: 1461412013
Category : Business & Economics
Languages : en
Pages : 128
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Book Description
Many of the challenges faced by family-owned businesses develop after the firm has reached a stage of maturity, when the first generation is faced with issues concerning the role of their children in the business and the long-term future of the enterprise. This collection of case studies from around the world demonstrates how governance of both the business and the family (or lack thereof) impacts succession of leadership in the firm and the inheritance of ownership and wealth. It is the role of governance and how it impacts both family and firm that link these family business cases together with succession and inheritance. These topics have been clustered together because the social systems of the family and the management system of the firm have significant impacts on the success, or failure, of succession plans. All the planning in the world for succession and inheritance will not succeed if the firm does not have a well established and functional governance system. Likewise, if the family does not understand its role in the governance of the firm and the mechanisms for making sound decisions, succession choices may not be accepted by family members. Most family firms fail because of succession issues, not economic ones. This volume features nine in-depth cases of family-owned business from a variety of industries to illuminate the dynamics of governance, succession, and inheritance. Each case illustrates the complexity of issues and, through interactive exercises and questions, offers readers approaches to solutions, which may include less-than-optimal compromises or even selling the business as the only viable option. The examples and insights will prove valuable for students and members of entrepreneurial and family-owned firms, as well as consultants, investors, and other professional advisors.
Author: Dina L. Taylor
Publisher:
ISBN:
Category : Business planning
Languages : en
Pages : 102
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Book Description
Family businesses are driven by economic and noneconomic goals that tie back to the wealth of the family members and firm. Thus, more studies have shown interest in examining the long-term perspectives of family firms and the factors that contribute to their desire to achieve transgenerational wealth. A long-term orientation is a mindset of the dominant coalition of family members that changes over time. However, there is a dearth of empirical studies that have tested the antecedents and outcomes of long-term orientation (LTO) and its relevant contingencies. This dissertation examined LTO in two essays to address this gap. The purpose of Essay 1 was to examine the antecedents of LTO in family businesses through stewardship theory and agency theory. This study employed 238 shareholder letters and secondary data sources through content analysis to examine the antecedents of LTO in family firms. The findings suggested that family involvement is positively associated with LTO. Additionally, the findings suggested that CEO incentives, nonfamily CEO tenure, and CEO ownership have negative relationships with an LTO. The purpose of Essay 2 was to empirically examine the relationship between LTO and family firm performance through the resource-based view (RBV). This LTO–performance relationship is mediated by innovativeness because the LTO of the dominant coalition catalyzes to identify resources for innovation. Additionally, the relationship between LTO and innovativeness may be moderated by board governance and environmental factors because the mindset of the dominant coalition may change to adapt to these factors. This study examined 249 shareholder letters and secondary data to determine the influences that LTO has in family firms. This study predicted that LTO does have a significant influence on the dominant coalition’s decision making. As such, an LTO mindset will adapt to different governance structures in the firm, as well as to the changes in the external environment. This study proposed to show that innovativeness is positively associated with LTO and firm performance.
Author: Emeka John Paul Ogidi
Publisher:
ISBN:
Category :
Languages : en
Pages :
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Book Description
Author: Leif Melin
Publisher: SAGE
ISBN: 1446265935
Category : Business & Economics
Languages : en
Pages : 697
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Book Description
The SAGE Handbook of Family Business captures the conceptual map and state-of-the-art thinking on family business - an area experiencing rapid global growth in research and education since the last three decades. Edited by the leading figures in family business studies, with contributions and editorial board support from the most prominent scholars in the field, this Handbook reflects on the development and current status of family enterprise research in terms of applied theories, methods, topics investigated, and perspectives on the field′s future. The SAGE Handbook of Family Business is divided into following six sections, allowing for ease of navigation while gaining a multi-dimensional perspective and understanding of the field. Part I: Theoretical perspectives in family business studies Part II: Major issues in family business studies Part III: Entrepreneurial and managerial aspects in family business studies Part IV: Behavioral and organizational aspects in family business studies Part V: Methods in use in family business studies Part VI: The future of the field of family business studies By including critical reflections and presenting possible alternative perspectives and theories, this Handbook contributes to the framing of future research on family enterprises around the world. It is an invaluable resource for current and future scholars interested in understanding the unique dynamics of family enterprises under the rubric of entrepreneurship, strategic management, organization theory, accounting, marketing or other related areas.
Author: Maximilian Lantelme
Publisher: Springer Nature
ISBN: 3658423757
Category : Business & Economics
Languages : en
Pages : 349
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Book Description
This book studies the long-term development of the 250 largest family and non-family enterprises in Germany between 1958 and 2018. In particular, the continuities and discontinuities of the companies’ ownership structure, operations and solvency are examined. Historical methods are used to advance the understanding of the attributed long-term orientation of family firms in family business research. The collected data of the 250 largest enterprises of 1958 provide the most comprehensive historical overview of the industrial landscape of this period. The long-term analyses show that more than half of the companies fail and less than a quarter keeps their ownership structure in the observation period of 60 years. In this timeframe, family-owned businesses have relatively stable ownership structures and superior survival rates compared to public companies although the latter experience higher growth rates. A listing of a family firm leads to the discontinuity of the family’s majority ownership in the mid- to long-term. Furthermore, company types like foundation-owned enterprises and foreign subsidiaries show even higher survival rates. The book closes with practical implications based on the identified development patterns of the surviving and failed enterprises.
Author: Ritch L. Sorenson
Publisher: Edward Elgar Publishing
ISBN: 1782547541
Category : Business & Economics
Languages : en
Pages : 255
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Book Description
•The editors should be commended for developing a Map of the Landscape of Family Business Outcomes. It gives future research direction to the discipline considering both short-term profitability and long-term sustainability. It considers conventional c
