scholarly journals An exploration of the role of intuitive forms of planning in the succession process: the explanatory power of effectuation theory

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Mira Bloemen-Bekx ◽  
Frank Lambrechts ◽  
Anita Van Gils
Keyword(s):  
Family Business ◽  
Design Methodology ◽  
Explanatory Power ◽  
Individual Group ◽  
Relational Dynamics ◽  
Content Type ◽  
Holistic Understanding ◽  
Focus Group Meeting ◽  
Succession Process

PurposeThis study explores how and when intuitive forms of planning can be used in a family firm's succession process.Design/methodology/approachThe study uses an extended focus group meeting, consisting of individual, group and subgroup discussions with seven highly experienced external family business advisors in the Netherlands to gain a holistic understanding of the succession process and its underlying logic. The study also employs pre- and post-group questionnaires.FindingsThis study reveals that advisors perceive intuitive forms of planning as an integral part of the succession process, with the latter containing both intuitive and formal logic and activities. Both logics are used situationally and flexibly to deal with the uniqueness and unpredictability of the succession process and to build strong relations and manage relational dynamics in business families to address tasks, dilemmas and contingencies.Originality/valueThe succession process is an important part of business families' achievement of transgenerational intent. Creating commitment among potential successors begins when they are children, and understanding the role of the more intuitive forms of planning during the succession process will provide us with a more holistic perspective on its dynamics.

Passing on the legacy: exploring the dynamics of succession in family businesses in Pakistan

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Asma AbdulRahim Chang ◽  
Muhammad Shujaat Mubarik ◽  
Navaz Naghavi
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Design Methodology ◽  
Family Firms ◽  
Family Members ◽  
Family Businesses ◽  
Content Type ◽  
Traditional Family ◽  
Interviewing Technique

PurposeBy taking the theory of entrepreneurial legacy as the baseline, this study explores the various aspects of succession planning in indigenous family businesses especially the role of female family members in succession and conflicts in family businesses.Design/methodology/approachThe study is qualitative in nature and adopts narrative inquiry to explore the aspects of succession planning. In doing so, the study utilizes an in-depth interviewing technique with nine participants who run their family-owned firms which are mostly in their second or third generation for analysis.FindingsThe findings are concurrent with the literature that indicates a lack of strategic succession planning although ordinary or natural succession does occur in some firms. The study also reports a lack of consideration for female members in succession, daughters in particular, for traditional family firms (FFs) in contrast to entrepreneurial FFs.Research limitations/implicationsThe study has many implications for family-owned firms in Pakistan as they need to align their family business with the theory of entrepreneurial legacy and its three strategic activities in order to ensure the longevity of their business.Originality/valueExploring how succession planning takes place in family indigenous family businesses and what is the role of female family members in succession and conflicts in family businesses are original contributions of this study.

The role of detective experience on homicide clearances

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sean E. Goodison
Keyword(s):  
Design Methodology ◽  
Inverse Relationship ◽  
Potential Role ◽  
Explanatory Power ◽  
Analytical Models ◽  
Content Type ◽  
Case Files ◽  
Case Closure ◽  
Case Characteristics

PurposeThe study aims to examine the effect of detective experience on the likelihood of clearing a homicide, while controlling for additional extralegal and case/investigative characteristics.Design/methodology/approachThis study uses homicide and policing data collected from case files in a mid-sized US city. Detective experience is measured in multiple ways. Analytical models include extralegal variables, case characteristics, and proxies of investigative quality as controls. The study uses logistic regression with a dichotomous clearance outcome.FindingsThe results suggest a robust and significant inverse relationship between the years spent as a homicide detective and the likelihood of case closure. However, years of experience with the department overall has a significant and positive relationship to clearance. Investigation-related variables and case characteristics contribute more to model explanatory power than extralegal factors.Originality/valueThe potential role of experience has not been fully explored, with contradictory findings over time. This work builds on previous research to highlight the potential role of experience in clearing cases, while questioning previous assumptions tied to the belief that more experience improves investigative outcomes.

scholarly journals The father’s role in supporting the son’s business knowledge development process in Vietnamese family businesses

2019 ◽  
Vol 11 (2) ◽  
pp. 258-276 ◽  
Author(s):  
Thanh Trung Pham ◽  
Robin Bell ◽  
David Newton
Keyword(s):  
Family Business ◽  
Development Process ◽  
Second Generation ◽  
Family Businesses ◽  
Knowledge Development ◽  
Content Type ◽  
The Family ◽  
Business Knowledge ◽  
Succession Process

Purpose Many family businesses do not survive into the second generation. A common reason put forward for this is poor succession planning for the second generation. This paper is designed with the aim to explore the role of the father in supporting the son’s business knowledge and development in Vietnamese family businesses. Design/methodology/approach This research adopted an inductive qualitative approach using multiple face-to-face semi-structured interviews with five father–son succession pairs. The interview participants were a cross section of Vietnamese family businesses, where the father–son pair was involved in the process of business knowledge transfer and the succession process was at an advanced stage. Findings The results suggest that the father plays different roles at different stages of the son’s business knowledge development process. In particular, the father acts as an example during the son’s childhood; a supporter to encourage the son to gain more business knowledge from both formal education and working experience outside the family business; a mentor and trouble-shooter after the son joins the family business as a full-time employee; and as an advisor after the son becomes the leader of the firm. Originality/value Most Vietnamese family businesses are still operating under the control of the first generation, and as a result, research into the succession process in Vietnam can help to provide valuable insights. Furthermore, existing research into the role of the predecessor in the whole process from the successor’s childhood until the end of the succession process is ambiguous and requires further research to clarify this research gap.

Family firms in Ibero-America: an introduction

2016 ◽  
Vol 29 (3) ◽  
pp. 219-230 ◽  
Author(s):  
Maria José Parada ◽  
Claudio Müller ◽  
Alberto Gimeno
Keyword(s):  
Family Business ◽  
Design Methodology ◽  
Family Firms ◽  
Content Type ◽  
Family Governance ◽  
Economic Context ◽  
The Family ◽  
Business Dynamics ◽  
And Behavior

Purpose This paper highlights the importance of understanding family firms in different contexts. The purpose of this paper is to reflect on the characteristics and behavior of family firms in Ibero-America, and their contribution and fit to the broader field of research. Based on the five articles in this special issue, this paper attempts to give an overview of their main contributions. Design/methodology/approach This paper explains in a contextual and analytical way the contributions of five papers that focus their attention on Ibero-American family firms, by linking them to the current research in the field and finding their fit within the broader field of family business. Tackling different topics, these five papers discuss about the comparison between family vs non-family businesses, innovation in family firms, and governance in family firms Findings Findings suggest that there is a need to stimulate research in family business in Ibero-America, especially Latin America, regarding family business dynamics, the different roles of the family within the enterprise, family governance, and the role of women. With regards to innovation the cultural and economic context play an important role in how they perform innovative activities. Originality/value This paper contributes to further understanding family firms by discussing the importance of the context and by linking all five papers with the broader literature in family business. The introduction also discusses topics worth to be further researched in Ibero-America.

Lifestyle entrepreneurs in winemaking

2019 ◽  
Vol 31 (3) ◽  
pp. 385-405 ◽  
Author(s):  
Andrea Dominici ◽  
Fabio Boncinelli ◽  
Enrico Marone
Keyword(s):  
Economic Theory ◽  
Family Business ◽  
Design Methodology ◽  
Profit Maximization ◽  
Mainstream Economic ◽  
Content Type ◽  
Explorative Study ◽  
Hands On ◽  
Depth Interviews

Purpose The purpose of this study is to investigate non-pecuniary motivations and benefits of involvement in the wine business. Combining these motives with winery owners’ characteristics, attitudes and implemented strategies, the aim is to identify different winery owners’ styles in small-medium family-run firms. Design/methodology/approach The applied method is a qualitative explorative study involving in-depth interviews with Tuscan winery owners. They have hands-on involvement in the winemaking process, own a family business and supervise all of the production phases, from grape growing to bottling. Findings The study highlights the key role of non-economic motivations for winery owners. Passion, independence and a desire to live close to nature are predominant compared to pecuniary motivations, such as profit maximization. Therefore, the “lifestyle-oriented” style, characterized especially by the achievement of non-pecuniary benefits, represents the prevailing style amongst the interviewed winery owners, in contrast to the “business-oriented” style, which features typical producers described by mainstream economic theory. Originality/value The findings of this study are pivotal because they can facilitate a better understanding of how family-run wineries make decisions related to, e.g. firm size, staff management, product quality, exports and sustainability.

Issuers’ credit risk and pricing of warrants in the recent financial crisis

2015 ◽  
Vol 16 (4) ◽  
pp. 444-462 ◽  
Author(s):  
Andrea Schertler ◽  
Saskia Stoerch
Keyword(s):  
Credit Risk ◽  
Design Methodology ◽  
Explanatory Power ◽  
Credit Default Swap ◽  
Price Setting ◽  
New Approach ◽  
Content Type ◽  
Credit Default ◽  
Recent Financial Crisis

Purpose – The purpose of this paper is to investigate whether factor sensitivities of margins of bank-issued warrants depend on issuers’ credit risk during the period of economic turmoil between January 2008 and June 2010. Design/methodology/approach – Therefore, first, Fama–MacBeth estimations were applied and it was demonstrate that the sensitivities of margins in terms of time to maturity and moneyness vary substantially over time; the average outcomes are similar to the results of classical pooled estimations. Findings – Then, time-series tests were used and it was found that the steepness of the issuers’ credit default swap (CDS) spread curves correlates negatively with the time-to-maturity sensitivities as well as with the explanatory power of Fama–MacBeth estimations. Research limitations/implications – These findings indicate that the life-cycle hypothesis is weakened when the issuers’ CDS spread curves become steeper. Originality/value – Thus, this study offers a new approach to gain insights into the role of issuers’ credit risk on price setting behavior.

OKF-Ref: using the object knowledge framework to understand the reference experience

2016 ◽  
Vol 30 (2) ◽  
pp. 1-7
Author(s):  
Kiersten F. Latham ◽  
Jodi Kearns
Keyword(s):  
Design Methodology ◽  
Museum Studies ◽  
Object Knowledge ◽  
Individual Group ◽  
Content Type ◽  
Knowledge Framework ◽  
Holistic Understanding ◽  
Reference Librarians ◽  
Reference Interactions ◽  
Practical Implications

Purpose – The aim of this paper is to offer a platform for thinking about the reference interaction experience by borrowing from museum studies literature, particularly from a holistic understanding of the museum visitor’s experience. Design/methodology/approach – The goal of this paper is to offer a platform for thinking about the reference interaction experience by borrowing from museum studies literature, particularly from a holistic understanding of the museum visitor’s experience. Findings – Object knowledge framework-reference (OKF-Ref) enables reference staff to connect patrons with resources to enable deeper thinking and research. Practical implications – OKF-Ref seeks to permit reference transactions as experiences rooted in synchronous individual, group and material potential connections made between resources and information seekers. Originality/value – New considerations in lived reference experience encourages reference librarians to think about the whole experience of reference interactions, allowing intermediaries to be proactive toward the goal of unified experiences for patrons.

Comparing sentiment measures in mutual fund performance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Qiang Bu ◽  
Jeffrey Forrest
Keyword(s):  
Mutual Fund ◽  
Design Methodology ◽  
Explanatory Power ◽  
Fund Performance ◽  
Mutual Fund Performance ◽  
Market Models ◽  
Content Type ◽  
Science Theory ◽  
Market Factors

PurposeThe purpose of this study is to investigate whether the direct and indirect sentiment measures are similar in explaining mutual fund performance.Design/methodology/approachThe authors examine the role of direct and indirect sentiment measures on fund performance in two scenarios. One is when a sentiment measure is added to market models, and the other is when it used independently. Also, the authors propose a system science theory to explain the findings.FindingsThe authors find that both direct and indirect sentiment measures are integral to the benchmark models to explain fund performance. However, while the explanatory power of the direct sentiment index is robust when used independently or collectively, the indirect sentiment measures can explain fund performance only when used along with other market factors.Originality/valueGiven the number of sentiment measures, it is critical to determine whether these measures contain the same information of sentiment. This paper represents the first study on this topic.

Determinants of family entrepreneurship in the beekeeping sector

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kaltrinë Bislimi
Keyword(s):  
Family Business ◽  
Design Methodology ◽  
Family Businesses ◽  
Transition Country ◽  
Case Presentation ◽  
Content Type ◽  
General Data ◽  
The Impact ◽  
Family Entrepreneurship

PurposeKosovo is a transition country, and family businesses are seen as the best way to ensure its existence. The purpose of this paper is to determine the importance of beekeeping entrepreneurship in the country and the factors that affect entrepreneurship in this sector.Design/methodology/approachThis research was developed through a case presentation where interviews with beekeepers from different cities of Kosovo were conducted. Because this research was conducted during the pandemic situation COVID-19, a total of 32 beekeepers agreed to give interviews, of which 30 were males and 2 were females. The interviews were conducted from March to May 2020. All interviews were recorded to obtain all the relevant details during data processing. All respondents agreed that their names could be made public. The interviews were conducted in Albanian language, and their duration was from 32 min to 1 h and 40 min. The questionnaire for the interview in total contained 25 questions.FindingsBeekeeping in Kosovo runs entirely as a family business. Only 12 out of 32 respondents inherited the business from their families, while others started this business mostly out of curiosity. 59% of the respondents consider beekeeping as their primary income, while 32 percent as the only source of income. Only 9% of the respondents have less than 30 hives, and the beekeeping income does not have a big impact on their total income. Beekeeping is considered a dangerous business that forces beekeepers to have a second job. The most common risks are climate change and bee diseases. However, although they have a second job, their highest income derives from beekeeping. Education has the biggest role in the development of this business, while experience and technology do not play a significant role.Research limitations/implicationsThe number of respondents is small compared to the total number of beekeepers in Kosovo, so a larger number of beekeepers could give more accurate results. In addition, there is no general data on the impact of the beekeeping sector on the economy, especially on the role of this sector in reducing the unemployment rate.Originality/valueThe study adds value to the importance of artisan family businesses. Knowing the importance of family businesses, this study makes a great contribution to determining the factors that affect the development of beekeeping entrepreneurship as family business.

scholarly journals Impact of effective governance structure on succession process in the family business: exploring the mediating role of management succession planning

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
V.V. Renuka ◽  
Bhasi Marath
Keyword(s):  
Family Business ◽  
Succession Planning ◽  
Family Firms ◽  
Governance Structure ◽  
Content Type ◽  
Mediating Role ◽  
Perceived Success ◽  
Management Succession ◽  
Succession Process

PurposeThe aim of this research is to analyze empirical evidence of the effect of governance structure (GS) on perceived success of the succession process. It is also reported that in India, family firms have a more informal organization structure and governance and have an informal and unplanned approach to bringing the successors into family business. Previous studies have reported that GS is an important factor for a successful succession process. This study examines the role of management succession planning as an intervening variable to achieve perceived success of the succession process.Design/methodology/approachData have been collected using a questionnaire schedule with 113 respondents who are successors from family business firms in Kerala, India. The study uses snowball sampling technique. Partial least square-structural equation modeling has been used to do data analysis.FindingsThe results of the study showed that GS has a significant positive effect on the success of the succession process. GS has a significant positive effect on management succession planning. Management succession planning partially mediates the relationship between GS and perceived success of the succession process.Research limitations/implicationsThe results of the study indicate the effect of GS on the relationship between, perceived success of the succession process and management succession planning. The mediating role of management succession planning in the above relationship is also confirmed. Therefore, before starting the succession process a good GS should be put in place for ensuring the success of the succession process. Family firms must implement the succession plan well to make the succession process successful.Originality/valueThe main contribution of the study is to empirically investigate the effect of GS and management succession planning to enhance the success of the succession process.

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