The nexus of aging in family businesses

2019 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Cagri Bulut ◽  
Serpil Kahraman ◽  
Emir Ozeren ◽  
Sobia Nasir
Keyword(s):  
Decision Making ◽  
Life Expectancy ◽  
Intergenerational Relationships ◽  
Family Businesses ◽  
The Body ◽  
Sustainable Growth ◽  
Future Research ◽  
Content Type ◽  
The Family ◽  
The Future

Purpose The purpose of this paper is to elaborate on the preferences of parent founders within family businesses in selecting a suitable successor with the increase in life expectancy. Design/methodology/approach The study presents alternative decision-making preference models of a suitable succession for parent founders based on the models of microeconomic theory in the context of family businesses. Findings The theories and models of economics in the current study illustrate that the increase in the life expectancy of the parent founders with their decisions toward the preference of a suitable successor under the age constraint may restrict the sustainability of their family businesses. As a result, the opportunity cost theory appears as to be at the ahead of the other theories in microeconomics in order to support the decision making of parent founders on selecting the suitable successor for the future of the family business. Research limitations/implications The paper illustrates the models on the preferences of the parent founder for the future of the family businesses with their perception toward the increase in overall life expectancy. The current study is limited to the perspectives of founder entrepreneurs toward an effective succession decision. Future research may consider the perspectives of in-family as well as non-family successors. Originality/value In the light of alternative preference decision-making models for parent founders for choosing a suitable successor under the age constraint, this study will make a noteworthy contribution to the sustainable growth of their family businesses. The approach of this study through the microeconomics not only methodologically contributes to the body of knowledge in aging and employment in general, but also to the intergenerational relationships of parent founders, especially their succession-related plans at their early stages of career.

The financial decisions of family businesses

2017 ◽  
Vol 7 (3) ◽  
pp. 351-373 ◽  
Author(s):  
Anna Motylska-Kuzma
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Future Research ◽  
Content Type ◽  
Financial Decisions ◽  
Financial Decision Making ◽  
The Family ◽  
Financial Decision

Purpose The purpose of this paper is to examine the status, trends and potential future research areas in the field of financial decision-making process in family firms. Design/methodology/approach The bibliometric indicators and methods are applied in order to describe the publication activity and to analyze the contents of the articles. The material examined are the journals included in the SCOPUS, SAGE and EBSCO database and the peer-reviewed article, which contain in their titles, keywords or abstracts with a combination of phrases “family firms,” “family business” or “family enterprise” with “financial decision” or one of the subcategories: capital structure, investment decision, capital budgeting, working capital management or dividend policy. The study covers the period from 2000 to 2016. Findings Although the interest in family business research is growing rapidly, the area of financial decision making is underestimated. Despite of the fact that the vast majority of the studies into financial decisions in family firms is are focused on the capital structure, they do not give clear answers to the question of how the family businesses behave in this scope and what their true financial logic is. Additionally, the area of the investment decisions and dividend policy is rather not better left uncovered. Research limitations/implications The analyses enable the identification of potential avenues for future research which could be vital to make an advancement in the consolidation of the discipline. Practical implications The analyses ought to have a potential meaning mainly for external institutions (especially financial institutions) in better understanding of the family businesses and their point of view. Originality/value This paper fulfills the need of a comprehensive review of financial decision making process in family firms. It provides a literature review and bibliography for the period between 2000 and 2016 for the use of both academicians and practitioners.

Direct and indirect effect of entrepreneurial orientation, family involvement and gender on family business performance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Erny Rachmawati ◽  
Suliyanto ◽  
Agus Suroso
Keyword(s):  
Family Involvement ◽  
Family Business ◽  
Entrepreneurial Orientation ◽  
Business Performance ◽  
Family Businesses ◽  
Future Research ◽  
Content Type ◽  
The Family ◽  
The Relationship

PurposeThis study aims to determine the direct effect of entrepreneurial orientation on family business performance. This study also discusses the role of family involvement as a mediating variable and the role of gender as a moderating variable in the relationship between entrepreneurial orientation and family business performance.Design/methodology/approachA total of 328 hotels in Yogyakarta, Indonesia, were selected as samples by the convenience sampling method. Primary data is collected through structured questionnaires that are delivered by themselves to key people in the hotel such as owners, directors and key staff (HRD, financial, relationship). Hypotheses are tested by structural equation modeling procedures using AMOS 22.0. Sobel test is used to determine the indirect effect of the mediation variable.FindingsThe results showed that entrepreneurial orientation had no significant effect on family business performance. Family involvement acts as a full mediation in the relationship between entrepreneurial orientation and family business performance. Gender acts as a moderating variable that can strengthen the relationship between entrepreneurial orientation and family business performance. The results showed support for previous research.Research limitations/implicationsThe results of the study cannot conclude the national family business because it adopts convenience sampling and the sampling area is limited in Yogyakarta. Future research can use a larger sample. This study only researches hotels managed by family businesses, so it is not feasible to conclude for family businesses in general. Future research may choose to use several types of family businesses so that more varied results can be obtained. Future research could also compare hotels managed by family businesses with non-family businesses. The results also found that in addition to gender roles, respondent heterogeneity was an important component in the study of social identity. Therefore, research examining the influence of different cultures on the relationship between entrepreneurial orientation and family business performance should be an extraordinary topic for future study. Other results from this study also indicate that there is a role for religion in improving hotel performance. Future research is needed to further explore Islamic business modeling for family businesses.Practical implicationsThis finding has significant implications that can help family businesses in developing strategies that are suitable for business management. Entrepreneurial orientation occupies a strategic position in developing sustainable competitive advantage in the family business of the tourism sector especially the hotel business in Yogyakarta for the better. Besides, the results of the study also showed that entrepreneurial orientation had no significant effect on performance. This relationship becomes significant when combined with active family involvement. This finding also shows that entrepreneurial orientation has the potential to have a more beneficial effect because of the active involvement of the family in helping with business management, alleviating business-related problems, and having a significant influence when the family also acts as management.Social implicationsResearch findings indicate the role of gender in strengthening the relationship between entrepreneurial orientation and family business performance. This provides a good position for women in the social environment to show achievement. To place women on the side of gender equality and justice in the family business in Indonesia. By opening wider access for Indonesian women in the realm of business management, expanding women's participation in a family business, increasing the role of control for women, and increasing women's knowledge and skills to increase the benefits in managing family businesses so that they have sustainable resilience in the face of global competition.Originality/valueThe results of this study provide a new model in providing an overview of the direct and indirect roles (mediating and moderating) in the assessment of family business performance. This study uses three variables which are important in performance appraisal, namely entrepreneurial orientation (independent variable), family involvement (mediating variable) and gender (moderating variable). Where research that combines these four variables, directly and indirectly, has never been done before.

Family business insights: an overview of the literature

2015 ◽  
Vol 5 (1) ◽  
pp. 116-127 ◽  
Author(s):  
Paul Pounder
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Success Factors ◽  
Family Businesses ◽  
Continuous Change ◽  
Business Leadership ◽  
Content Type ◽  
Key Success Factors ◽  
Quantitative Studies ◽  
The Family

Purpose – The purpose of this paper is to investigate how the family business literature has evolved, and to examine the factors influencing family-owned and managed businesses. The paper discusses important patterns in the present literature and new directions for future study. Design/methodology/approach – The research identifies key research topics and methodical approaches to understand family businesses. Insights into the reasoning behind the historic changes and the current direction and trends of the family business literature are also identified. Findings – The findings of this research argues that the main cause of the challenges in running a family business stem from the management of the interrelationship between family concerns and business concerns. Strong leadership and building a culture that accepts continuous change are key success factors. Research limitations/implications – Due to the specific nature of the family business dynamics and decision-making conflict, which can hardly be captured by quantitative studies alone, a promotion of qualitative studies is advisable. Practical implications – This study suggests that understanding the culture surrounding decision making in family business has great value. Characteristics such as aggressiveness, fearlessness and competition are key areas for investigation. Social implications – Overlooking the potential of non-family members for family business leadership can produce sub-optimal choices of successors. Further, the aspiration to change society’s and government’s view of family businesses warrants attention. Originality/value – This review of previous research offers researchers a broader and comprehensive view of the family business, which is inclusive of the challenges, decision making and solutions within the family business structure. Researchers, educators and practitioners will benefit from this paper.

scholarly journals Gender and CSR decisions: perspectives from Australian boards

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Kathyayini Kathy Rao ◽  
Carol Tilt
Keyword(s):  
Decision Making ◽  
Positive Impact ◽  
Gender Diversity ◽  
The Body ◽  
Future Research ◽  
Structured Interviews ◽  
Board Diversity ◽  
Content Type ◽  
Board Decision Making ◽  
Board Level

Purpose Within the board diversity literature, the issue of gender diversity has been extensively studied, however, limited research has examined whether gender diversity at board level has any influence on corporate social responsibility (CSR) decisions. This paper aims to fill this knowledge gap and shed light on whether, and how, gender diversity influences CSR related decisions. Design/methodology/approach In total, 13 in-depth semi-structured interviews were conducted with board members of Australian companies to examine their perceptions of the effect of gender diversity. Findings Although the findings show evidence that there is a general perception that gender diversity has the potential to influence board level decisions, this does not appear to translate to CSR decisions specifically. The results from the interviews identified that several issues and moderating factors interact with the gender-CSR relationship. Research limitations/implications The paper contributes significantly to the body of knowledge by going beyond the plethora of quantitative analyses. The results suggest that there is much work to be done to improve governance policy and mechanisms if boards are to see the potential for gender to have a positive impact on CSR decision-making. Originality/value The study responds to calls for more research adopting qualitative studies, including interviews and case studies, to understand the complex interactions that take place during board decision-making. The findings provide useful insights for future research, practise and policymakers.

scholarly journals Multi-storey residential buildings and occupant’s behaviour during fire evacuation in the UK

2018 ◽  
Vol 36 (3) ◽  
pp. 234-253 ◽  
Author(s):  
Michael Gerges ◽  
Sholto Penn ◽  
David Moore ◽  
Chris Boothman ◽  
Champika Liyanage
Keyword(s):  
Decision Making ◽  
Literature Review ◽  
Mixed Methods Research ◽  
Residential Buildings ◽  
The Body ◽  
Future Research ◽  
Fire Event ◽  
Content Type ◽  
Large Cities ◽  
The Uk

Purpose The purpose of this paper is to investigate human behaviour during fire evacuations in multi-storey residential buildings through a focus on the challenges and obstacles that occupants face. In addition, the paper aims to study all the various behaviours that are relevant to the evacuation strategies/plans in the UK of multi-storey buildings in large cities. Design/methodology/approach A literature review was conducted to identify the factors occupants face and also the decision making of occupants regarding the methods of egress. A mixed methods research was adopted using interviews and a questionnaire survey. The findings from the interviews and survey are benchmarked against the information gathered from the literature review. Findings The paper identifies various challenges that occupants face when evacuating a multi-storey residential building. In terms of the decision-making process, the research results evidence that occupants could be given more information on the evacuation procedures within their specific building. The paper also finds that occupants remain reluctant to use a lift during evacuation in fire event, irrespective of any signage clearly stating that is appropriate to do so in the context of modern lift technology. Originality/value This paper contributes to the body of knowledge available on the evacuation of multi-storey buildings located in large cities within the UK, outlining the potential areas for future research, focussed on providing an insight of the behavioural decisions made by the occupants make when evacuating a building in the event of a fire.

Measuring the supply chain competitiveness of e-commerce industry in Indonesia

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Ade Febransyah ◽  
Joklan Imelda Camelia Goni
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Future Research ◽  
Multi Criteria Decision Making ◽  
Analytic Hierarchy ◽  
Content Type ◽  
The Future ◽  
Business To Consumer ◽  
Software And Hardware ◽  
Decision Making Model

Purpose The purpose of this study is to measure the supply chain competitiveness of the e-commerce industry in Indonesia. Design/methodology/approach The study used a multi-criteria decision-making model based on the analytic hierarchy process. Four main criteria are used to measure the supply chain competitiveness, i.e. cost, differentiation, sustainability and infrastructure. Findings The findings of this study show that cost is the most important criterion with a degree of importance of 33.19%, followed by infrastructure of 29.40%, differentiation of 27.96% and sustainability of 9.45%. It shows that the internally controlled strategy contributes about 70% of supply chain competitiveness. The internal infrastructure criterion that consists of software and hardware contributes 65.92% to the whole infrastructure criterion. The internal infrastructure then contributes 19.38% to supply chain competitiveness. Therefore, the internally controlled strategies and internal infrastructure contribute up to 90.08% to the supply chain competitiveness of e-commerce in Indonesia. This result implies that to attain the supply chain competitiveness, the company must carry out strategies focusing on the performance such as cost, differentiation, sustainability as well as on the internal infrastructure such as software and hardware. Research limitations/implications In this paper, the authors limited their study to the business to business (B2B) and business to consumer (B2C) players because these two platforms have been experiencing a very rapid growth. While e-commerce business can take many platforms besides B2B and B2C, the future research should include other platform such as consumer to consumer as well. Because the focus in this study is more the information and material flows, it will be of great interest if the future research covers the platform of mobile payment as well that guarantee the ease of cashflows within supply chains. Also, with the occurrence of the Covid-19 pandemic when this paper was written, in the near future, it is then of great interest to incorporate the pandemic context into the proposed model used in this study. The further study should analyze long-term changes happened as the result of pandemic such as behavioral changes of online shopping from customer side or shift in e-commerce supply chain infrastructure and inventory practice. Practical implications With this study, it is expected that it can be determined which criteria contribute the most to the supply chain competitiveness of the e-commerce industry in Indonesia that will be useful for industry player. Originality/value E-commerce development in Indonesia is still facing serious challenges. The multi-criteria decision making approach used in this research lays a foundation of how supply chain competitiveness is determined based on the judgment of experts coming from major companies within the supply chain.

Examining employment relationship activities in family business research

2016 ◽  
Vol 6 (3) ◽  
pp. 210-224 ◽  
Author(s):  
Holly Ferraro ◽  
Jennifer Marrone
Keyword(s):  
Family Business ◽  
Family Members ◽  
Family Businesses ◽  
Theory And Practice ◽  
Employment Relationship ◽  
Future Research ◽  
Business Research ◽  
Content Type ◽  
The Family ◽  
Advance Theory

Purpose The purpose of this paper is to examine the family business literature on human resource management (HRM) activities within family-owned businesses to advance theory and practice. Design/methodology/approach This paper is a review of research on the formation, adaptation, and termination of the employment relationship within family businesses. Findings Important areas for future research are revealed. For example, little research investigates how family members are recruited, socialized, or how exit decisions are made. In contrast, significant attention has been given to role transitions during succession. Research limitations/implications The paper focuses on managing employment relationships (e.g. recruitment, selection, etc.) within family businesses. The research revealed HRM activities within family businesses are often informal so aspects of the employment relationship may not be fully captured by extant research. Practical implications This review provides specific HRM suggestions for practitioners to consider. For example, this review highlights that training inside the family business can be as effective as training outside the family business. Originality/value This review is novel in applying an established HRM framework to family business research and focuses on HRM activities of family members as opposed to non-family employees. The paper offers considerations for families bringing next generation members into their businesses and preparing offspring to run them successfully.

scholarly journals Consumption through the ambivalent prism of intergenerational support

2016 ◽  
Vol 50 (3/4) ◽  
pp. 575-601 ◽  
Author(s):  
Katerina Karanika ◽  
Margaret K. Hogg
Keyword(s):  
Consumer Research ◽  
Intergenerational Relationships ◽  
Welfare States ◽  
Future Research ◽  
Intergenerational Support ◽  
Family Identity ◽  
Content Type ◽  
The Family ◽  
Different Types ◽  
Research Studies

Purpose This paper aims to examine how ambivalence and intergenerational support intersect with consumption in experiences of sharing within the family. Design/methodology/approach Consumer research studies usually use one of two family paradigms (i.e. solidarity and conflict), but the role of ambivalence in family ties is often neglected. This paper examines how ambivalence relates to adult intergenerational support, specifically within the context of sharing, consumption and family identity. In contrast to consumer research studies, sociological studies identify the intersection between intergenerational ambivalence and intergenerational support within family life. This study draws on sociology literature to interpret data from phenomenological interviews with downwardly mobile Greek consumers involved in familial intergenerational support and sharing. The voices of adult recipients and providers of resources are captured, and the transcribed interview texts are analysed using a phenomenological-hermeneutical process. Findings Three types of consumer ambivalence were identified that reflected different types of conflicts between consumption choices and different levels of family identity (collective, relational and individual). Research limitations/implications Future research should explore ambivalence and family sharing in different family structures and during different transitions. Future research should also investigate how this study’s findings resonate in societies less affected by austerity measures with stronger welfare states that nevertheless experience a rise in intergenerational support. Originality/value The study problematises previously somewhat polarised (i.e. positive vs bleak) views of the family in consumer research. Family sharing is highlighted as a major antecedent to consumer ambivalence, and different types of consumer ambivalence within intergenerational relationships within families are conceptualised. This paper proposes an extended typology of coping strategies aligned along a practical–emotional continuum.

State-of-the-art literature review on inventory models for perishable products

2018 ◽  
Vol 15 (3) ◽  
pp. 306-346 ◽  
Author(s):  
Vaibhav Chaudhary ◽  
Rakhee Kulshrestha ◽  
Srikanta Routroy
Keyword(s):  
Inventory Management ◽  
Systemic Review ◽  
Current Status ◽  
Future Research ◽  
Inventory Models ◽  
Research Gaps ◽  
Content Type ◽  
Perishable Items ◽  
Perishable Inventory ◽  
The Future

PurposeThe purpose of this paper is to review and analyze the perishable inventory models along various dimensions such as its evolution, scope, demand, shelf life, replenishment policy, modeling techniques and research gaps.Design/methodology/approachIn total, 418 relevant and scholarly articles of various researchers and practitioners during 1990-2016 were reviewed. They were critically analyzed along author profile, nature of perishability, research contributions of different countries, publication along time, research methodologies adopted, etc. to draw fruitful conclusions. The future research for perishable inventory modeling was also discussed and suggested.FindingsThere are plethora of perishable inventory studies with divergent objectives and scope. Besides demand and perishable rate in perishable inventory models, other factors such as price discount, allow shortage or not, inflation, time value of money and so on were found to be combined to make it more realistic. The modeling of inventory systems with two or more perishable items is limited. The multi-echelon inventory with centralized decision and information sharing is acquiring lot of importance because of supply chain integration in the competitive market.Research limitations/implicationsOnly peer-reviewed journals and conference papers were analyzed, whereas the manuals, reports, white papers and blood-related articles were excluded. Clustering of literature revealed that future studies should focus on stochastic modeling.Practical implicationsStress had been laid to identify future research gaps that will help in developing realistic models. The present work will form a guideline to choose the appropriate methodology(s) and mathematical technique(s) in different situations with perishable inventory.Originality/valueThe current review analyzed 419 research papers available in the literature on perishable inventory modeling to summarize its current status and identify its potential future directions. Also the future research gaps were uncovered. This systemic review is strongly felt to fill the gap in the perishable inventory literature and help in formulating effective strategies to design of an effective and efficient inventory management system for perishable items.

The innovation and internationalisation processes of family businesses

2017 ◽  
Vol 27 (2) ◽  
pp. 231-247 ◽  
Author(s):  
Vitor Braga ◽  
Aldina Correia ◽  
Alexandra Braga ◽  
Sofia Lemos
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Family Management ◽  
Multivariate Statistic ◽  
Content Type ◽  
Business Innovation ◽  
The Family ◽  
Internationalisation Strategies ◽  
Innovation Processes

Purpose The success of the family firms cannot be detached from the current paradigm where, within the present economic conditions, economic agents struggle to exploit the existing opportunities and need to take into account the risks associated to the international arena and the innovation processes. The internationalisation and innovation processes may trigger resistance within family business due to their relatively higher difficulty to take risks and to invest in industries outside the scope of their original core business. Innovation and internationalisation processes become relevant strategies for the family firms’ continuity and success. In line with such fact, the aim of this paper is to contribute with insights regarding the processes of innovation and internationalisation within family businesses. In particular, this paper aims to assess the propensity of such firms to apply such strategies, to identify the particular business behaviour and to assess the extent to which the particulars of family firms may constraint or lead to the implementation of innovation policies, and thus its internationalisation. Design/methodology/approach The data were collected through questionnaires within family business aiming to understand the scope and characteristics of internationalisation and innovation processes within these firms. The 154 replies from such data collection were analysed using different multivariate statistic procedures, although this paper is based on factorial and correlation analysis. Findings The analysis of the results shows that there is an association between the processes of innovation and internationalisation within family business. In addition, the results also suggest a typology of firms regarding their innovation and internationalisation strategies and motivations. Research limitations/implications The results of this paper are, to some extent, limited because they did not allow comparing the findings with data from non-family business. However, the authors’ aim was not to distinguish family firms, but rather to characterise them. Practical implications This paper expects to contribute with lessons for the management of family business and to raise awareness of the constraints faced by family business. It is important to highlight that family business performance may be affected by a lower propensity to risk-taking attitudes, by the lack of non-family management and to the necessity of separating the family and the business in the business dimensions that the family limits the business growth. Originality/value Although there is a significant amount of the literature devoted to explore family business, innovation and internationalisation studies, very few draw on the relationship between internationalisation and innovation processes within family business. This paper explores such a relationship within a particular business context – the family dynamics that strongly affect management and business development.

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