Why are some family firms not innovative?: Innovation Barriers and Path Dependence in Family Firms

2022 ◽  
Vol 38 (1) ◽  
pp. 101182
Author(s):  
Daniel Lorenzo ◽  
Pedro Núñez-Cacho ◽  
Naveed Akhter ◽  
Francesco Chirico
Keyword(s):  
Path Dependence ◽  
Family Firms ◽  
Innovation Barriers

The study of family businesses from a global perspective - possibilities and limitations

2012 ◽  
Vol 13 (2) ◽  
Author(s):  
Paloma Fernández Pérez
Keyword(s):  
Mergers And Acquisitions ◽  
Path Dependence ◽  
Family Firms ◽  
Family Businesses ◽  
Global Perspective ◽  
National Scale ◽  
Public And Private ◽  
The World ◽  
Management Literature ◽  
Private Corporations

The privatization wave of the 1980s and 1990s meant a reduction in taxes to the wealthiest dynasties in developed and developing countries. It also meant a global process of mergers and acquisitions which benefitted public and private corporations, many family owned businesses. At a national scale family controlled firms have historically been a fundamental source of stability in regional and local creation of wealth and employment. Due to this historical perception of family businesses by societies, politics, and governments, family controlled firms have been supported and benefitted by legislation throughout the world. As economic historians, however, we should try to keep some distance with the object of our study, and critically analyze about appropriate definitions of what family businesses are and how they compare internationally. Also, we must clarify our assumptions about the relationships between family businesses, politics, and society throughout time, and see path dependence and complexity where management literature sees convergence and homogeneity. A comparison of the largest family controlled businesses in Brazil, Mexico and China suggests the utility of business history to provide nuanced and critical views about the significance of family firms in the world.

Family Firms and Stock Price Crash Risk

2019 ◽  
Vol 10 (4) ◽  
pp. 77-86
Author(s):  
Hae-Young Ryu ◽  
Soo-Joon Chae
Keyword(s):  
Stock Price ◽  
Family Firms ◽  
Crash Risk

From transaction costs to transaction value: Overcoming the frictional paradigm

2020 ◽  
pp. 51-81
Author(s):  
D. P. Frolov
Keyword(s):  
Transaction Costs ◽  
Transaction Cost ◽  
Path Dependence ◽  
Transaction Cost Economics ◽  
Cost Minimization ◽  
Low Cost ◽  
Coase Theorem ◽  
Transactional Analysis ◽  
Transaction Sector ◽  
Transaction Value

The transaction cost economics has accumulated a mass of dogmatic concepts and assertions that have acquired high stability under the influence of path dependence. These include the dogma about transaction costs as frictions, the dogma about the unproductiveness of transactions as a generator of losses, “Stigler—Coase” theorem and the logic of transaction cost minimization, and also the dogma about the priority of institutions providing low-cost transactions. The listed dogmas underlie the prevailing tradition of transactional analysis the frictional paradigm — which, in turn, is the foundation of neo-institutional theory. Therefore, the community of new institutionalists implicitly blocks attempts of a serious revision of this dogmatics. The purpose of the article is to substantiate a post-institutional (alternative to the dominant neo-institutional discourse) value-oriented perspective for the development of transactional studies based on rethinking and combining forgotten theoretical alternatives. Those are Commons’s theory of transactions, Wallis—North’s theory of transaction sector, theory of transaction benefits (T. Sandler, N. Komesar, T. Eggertsson) and Zajac—Olsen’s theory of transaction value. The article provides arguments and examples in favor of broader explanatory possibilities of value-oriented transactional analysis.

What Every Small Business Can Learn From Great Family Firms: The 4C Advantage

IESE Insight ◽  
2015 ◽  
pp. 33-40
Author(s):  
Danny Miller ◽  
Isabelle Le Breton-Miller
Keyword(s):  
Small Business ◽  
Family Firms

Going the Distance

2020 ◽  
Author(s):  
Ron Harris
Keyword(s):  
Large Scale ◽  
Western Europe ◽  
Family Firms ◽  
Global Trade ◽  
Long Distance ◽  
Business Corporation ◽  
Modern Economy ◽  
Key Factor ◽  
Silk Route ◽  
Passive Investors

Before the seventeenth century, trade across Eurasia was mostly conducted in short segments along the Silk Route and Indian Ocean. Business was organized in family firms, merchant networks, and state-owned enterprises, and dominated by Chinese, Indian, and Arabic traders. However, around 1600 the first two joint-stock corporations, the English and Dutch East India Companies, were established. This book tells the story of overland and maritime trade without Europeans, of European Cape Route trade without corporations, and of how new, large-scale, and impersonal organizations arose in Europe to control long-distance trade for more than three centuries. It shows that by 1700, the scene and methods for global trade had dramatically changed: Dutch and English merchants shepherded goods directly from China and India to northwestern Europe. To understand this transformation, the book compares the organizational forms used in four major regions: China, India, the Middle East, and Western Europe. The English and Dutch were the last to leap into Eurasian trade, and they innovated in order to compete. They raised capital from passive investors through impersonal stock markets and their joint-stock corporations deployed more capital, ships, and agents to deliver goods from their origins to consumers. The book explores the history behind a cornerstone of the modern economy, and how this organizational revolution contributed to the formation of global trade and the creation of the business corporation as a key factor in Europe's economic rise.

Family Firms, Social Responsibility, and Non-Family Member Employees Identification

Think India ◽  
2013 ◽  
Vol 16 (3) ◽  
pp. 10-19
Author(s):  
Ang Bao
Keyword(s):  
Resource Allocation ◽  
Social Responsibility ◽  
Family Member ◽  
Program Implementation ◽  
Social Identity Theory ◽  
Family Firms ◽  
The Family ◽  
Corporate Social ◽  
The Relationship ◽  
Csr Engagement

The objective of this paper is to find the relationship between family firms’ CSR engagement and their non-family member employees’ organisational identification. Drawing upon the existing literature on social identity theory, corporate social responsibility and family firms, the author proposes that family firms engage actively in CSR programs in a balanced manner to increase non-family member employees’ organisational identification. The findings of the research suggest that by developing and implementing balanced CSR programs, and actively getting engaged in CSR activities, family firms may help their non-family member employees better identify themselves with the firms. The article points out that due to unbalanced CSR resource allocation, family firms face the problem of inefficient CSR program implementation, and are suggested to switch alternatively to an improved scheme. Family firms may be advised to take corresponding steps to select right employees, communicate better with non-family member employees, use resources better and handle firms’ succession problems efficiently. The paper extends employees’ identification and CSR research into the family firm research domain and points out some drawbacks in family firms’ CSR resource allocation while formerly were seldom noticed.

Making gender visible in family business: past and present

2012 ◽  
Vol 13 (1) ◽  
Author(s):  
Paloma Fernández Pérez ◽  
Eleanor Hamilton
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Business Leadership ◽  
Legal Rules ◽  
Developed Economies ◽  
The Family ◽  
Interdisciplinary Synthesis ◽  
Complex Forms ◽  
Rules Of The Game

This  study  contributes  to  developing  our understanding of gender and family business. It draws on studies from the business history and management literatures and provides an interdisciplinary synthesis. It illuminates the role of women and their participation in the entrepreneurial practices of the family and the business. Leadership is introduced as a concept to examine the roles of women and men in family firms, arguing that concepts used  by  historians or economists like ownership and management have served to make women ‘invisible’, at least in western developed economies in which owners and managers have been historically due to legal rules  of  the  game  men,  and  minoritarily women. Finally, it explores gender relations and  the  notion  that  leadership  in  family business  may  take  complex  forms  crafte within constantly changing relationships.

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