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The role of family management and ownership on semi-globalization pattern of globalization: The case of family business groups
Institution:1. Institut Teknologi Sepuluh Nopember (ITS), Indonesia;2. University of Otago, New Zealand;3. Aalto University, Finland;1. University of Glasgow, Adam Smith Business School, University Avenue, Glasgow G12 8QQ, UK;2. Department of Business Administration, School of Economics, Aristotle University of Thessaloniki, Thessaloniki, Greece;3. Förbom Properties, Tikanmaankatu 76, 21210 Raisio, Finland;1. Department of Economics & Management, University of Pisa, Via Ridolfi 10, 56124 Pisa, Italy;2. Department of International Business and Economics, University of Greenwich Business School, Old Royal Naval College, Park Row, London SE10 9LS, UK;3. Max Planck Institute of Economics, Evolutionary Economics Group, Kahlaische Straße 10, 07745 Jena, Germany;4. Department of Political and Social Sciences, University of Pavia, Corso Strada Nuova 65, 27100 Pavia, Italy;5. WHU – Otto Beisheim School of Management, Burgplatz 2, 56179 Vallendar, Germany;1. UNIDO, Vienna, Austria;2. UNIDO HQs, Vienna, Austria;3. UNIDO Representative Office in Ghana and Togo, Accra, Ghana;1. Department of Finance and International Business, Fu Jen Catholic University, 510 Chung Cheng Road, Hsinchuang, New Taipei City 24205, Taiwan;2. MBA Program in International Management, Fu Jen Catholic University, 510 Chung Cheng Road, Hsinchuang, New Taipei City 24205, Taiwan;3. Department of Business Administration, St. John''s University/Taipei Campus, 499, Sec. 4, Tam King Road, Tamsui, New Taipei City, Taiwan
Abstract:Employing a multi-level with longitudinal concern data analysis this research examines the impact from family management and ownership on semi-globalization pattern of globalization in family business groups from an integrated framework. The results reveal that the more likelihood that the controlling family utilize family management in the subsidiary, and the higher degree of pyramidal ownership in the subsidiary, the more likelihood that the family business group will choose to engage in the host regions. Additionally, family management and pyramidal ownership is positively related with the choice to engage in a higher difference region instead of a lower difference region in family business groups. The theoretical and future research implications of these findings for family enterprises and globalization research are discussed.
Keywords:Agency theory  Family business group  Family management  Pyramidal ownership  Resource-based theory  Semi-globalization  Transaction cost theory
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