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Alessandro Minichilli Mattias Nordqvist Guido Corbetta Mario Daniele Amore 《Journal of Management Studies》2014,51(7):1153-1179
This article extends the literature on CEO succession and financial performance by addressing corporate owners' mixed motives and desires to protect their interest in being in business. We draw on a Socio‐Emotional Wealth (SEW) perspective to investigate how the choice of one of three succession mechanisms – relay succession, ‘horse races’ among internal CEO candidates, and hiring from outside – may effectively balance trade‐offs between corporate owners' non‐financial SEW motives and the firm's financial performance. We find that implementing one of these succession mechanisms reduces the negative impact that typically characterizes CEO transitions in family firms. We also show that family presence on the board of directors offsets the benefits of having selected these balancing succession mechanisms, in either placing too much emphasis on SEW, or creating negative dynamics that make the chosen succession mechanisms less effective. 相似文献
2.
We adopt a generational perspective to investigate entrepreneurial orientation (EO) in family firms. We test a model that
determines how the influence on EO of external factors and internal factors differs in first-, second- and third-and-beyond-generation
family firms. We argue that while the founder is vital in the first generation, EO is more subject to interpretations of the
competitive environment in the second generation and that in the third generation and beyond, access to non-family resources
drives EO to a greater extent. Our findings show that perceptions of the competitive environment and EO correlate differently
in family firms, depending on the generation in charge, and it is generally stronger in second-generation family firms. Further,
we find that non-family managers on the top management team makes a positive difference for EO only in the third-generation
and beyond family firms. The significance of non-family investors’ on EO is particularly strong in third-generation-and-beyond
firms. 相似文献
3.
Marcela Ramírez‐Pasillas Hans Lundberg Mattias Nordqvist 《Journal of Management Studies》2021,58(1):63-103
Drawing on an Entrepreneurship as Practice (EaP) approach, this article examines how next generation members in family owned businesses (FOBs) engage in external venturing. Our study builds on longitudinal qualitative research in two Mexican FOBs where the next generation launched ten ventures. It reveals five different practices of external venturing used by next generation family members: ‘obtaining family approval’, ‘bypassing family’, ‘family venture mimicking’, ‘jockeying in family’, and ‘jockeying around family’. The five practices are combined into three routes for external venturing: ‘imitating the family business’, ‘splitting the family business’, and ‘surpassing the family business’. Building on notions from Michel de Certeau’s practice theory, this study contributes to theorizing the five practices as ways of operating and the routes as modes of sensing to better understand how next generation family members deal with settings featured by dominant orders within the family and the FOB in their attempts to originate and launch their new ventures. 相似文献
4.
Nordqvist Sofia Frishammar Johan 《The International Entrepreneurship and Management Journal》2019,15(1):75-95
International Entrepreneurship and Management Journal - Knowledge development and diffusion through demonstration plants are necessary to progress the development of sustainable technologies, yet... 相似文献
5.
Mattias Nordqvist Karl Wennberg Massimo Bau’ Karin Hellerstedt 《Small Business Economics》2013,40(4):1087-1122
We review and analyze previous literature on succession in family firms from an entrepreneurial process perspective. Through a three-step cluster analysis of 117 published articles on succession in family firms published between 1974 and 2010, we find several themes within which succession can be understood from an entrepreneurial process perspective where both the entry of new owners and exit of old owners are associated with the pursuit of new business opportunities. We identify gaps within each cluster and develop a set of research questions that may guide future research on succession as an entrepreneurial process. Since succession involves implications for individuals, families and firms, we suggest researchers should adopt a multilevel perspective as they seek answers to these research questions. Our review and analysis also underlines the need to focus on ownership transition rather than only management succession, and the importance of carefully defining both succession and family firm. 相似文献
6.
Corporate Governance and Strategic Change in SMEs: The Effects
of Ownership,Board Composition
and Top Management Teams 总被引:2,自引:1,他引:2
This paper investigates how governance mechanisms affect the ability of small- and medium-sized enterprises (SMEs) to introduce
strategic change. Previous research typically assumes that governance mechanisms operate independently of each other. Building
on agency theory and insights from the literature on small firm governance, we hypothesize that governance variables related
to ownership, the board of directors and the top management team all affect strategic change and that it is important to examine
the interaction effects of these governance mechanisms. Using a longitudinal sample of over 800 SMEs, our general logic and
hypotheses are supported by the analyses. We find that closely held firms exhibit less strategic change than do SMEs relying
on more widespread ownership structures. However, to some extent, closely held firms can overcome these weaknesses and achieve
strategic change by utilizing outside directors on the board and/or extending the size of the top management teams. Implications
for theory and management practice in SMEs are discussed.
All three authors have contributed equally to the paper. Their names are listed alphabetically. 相似文献
7.
Nilsen P Holmqvist M Nordqvist C Bendtsen P 《International journal of injury control and safety promotion》2007,14(2):93-102
This study analysed the drinking patterns and motivation to change drinking behaviours among injury patients who acknowledged alcohol as a factor in their injuries. A cross-sectional study was conducted over 18 months at a Swedish emergency department. A total of 1930 injury patients aged 18 - 70 years were enrolled in the study (76.8% completion rate). Of those who reported drinking, 10% acknowledged alcohol as a factor in their injury. A patient was more likely to report a causal attribution of the injury to alcohol the higher the weekly intake and the higher the frequency of heavy episodic drinking. The motivation to change variables showed a similar pattern of increased likelihood of attributing a causal link of alcohol and injury with increasing discontent with drinking behaviours and increasing desire to change drinking behaviours. The findings suggest that the ability to measure causal attribution of alcohol to injuries could be a promising tool to help patients explore the association between their injuries and alcohol use and motivate patients to modify drinking behaviours in order to avoid future injuries. 相似文献
8.
Salvatore Sciascia Mattias Nordqvist Pietro Mazzola Alfredo De Massis 《Journal of Product Innovation Management》2015,32(3):349-360
Research was largely consistent in predicting a negative relationship between family ownership and research and development (R&D) intensity until Chrisman and Patel, using a behavioral agency model (BAM), called this general assumption into question. They argued that publicly owned family firms typically invest less in R&D than nonfamily‐owned firms. This behavior may however be reversed if economic performance levels are below family aspirations or if family long‐term goals, such as pursuing strong transgenerational family control, are highly valued. While most researchers, like Chrisman and Patel, primarily focused on large listed firms, more research on the relationship between family ownership and R&D intensity in privately held small‐ and medium‐sized enterprises (SMEs) is required. This is because firm size can play an important role in understanding the innovation management behavior of firms. Building on the BAM perspective, in the present paper it is argued that Chrisman and Patel's results can be extended to the context of SMEs, albeit with one important specification: the relationship between family ownership and R&D intensity is likely to be contingent on the way the family has invested its wealth. Specifically, it is contended that in the context of SMEs, where goals are more fluid and mixed, when there is a high overlap between family wealth and firm equity (i.e., most of the family's wealth is invested in the firm) the relationship between family ownership and R&D intensity is negative because of the family owners' greater desire to protect their socioemotional wealth (SEW). However, if the overlap between the family's total wealth and single firm equity is low (i.e., firm equity is just a small part of the total family wealth), the relationship between family ownership and R&D intensity is positive as the low overlap between family wealth and firm equity reduces the family's loss aversion propensity. In such a situation, family ownership is likely to foster R&D intensity because of the long‐term orientation of family owners that increases the family firm's propensity to bear the risk of investing in R&D activities. The hypothesis is tested and confirmed in a study of 240 small‐ and medium‐sized firms based in Italy. The paper contributes to the literature in several ways. First, adding to the literature on innovation management and R&D intensity, it increases the understanding of what drives or inhibits R&D investments in SMEs when a family is involved in the ownership of the firm. This is particularly important because research on innovation management, as well as research on R&D intensity in family firms, is primarily focused on large firms and much less on SMEs. Second, the study complements arguments from prior research on the correlates of R&D intensity in large listed firms, showing that the BAM and SEW perspective offer a theoretical framework that is also able to illustrate the complex nature of innovation management in the context of SMEs. Third, the study contributes to research on the effects of family ownership on the general functioning of a firm. In particular, it provides new insights into how family ownership may affect R&D intensity. 相似文献
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