Knowledge Combination and the Potential Advantages of Family Firms in Searching for Opportunities

2011 ◽  
Vol 35 (6) ◽  
pp. 1179-1197 ◽  
Author(s):  
Pankaj C. Patel ◽  
James O. Fiet
Keyword(s):  
Human Capital ◽  
Family Firms ◽  
Family Relations ◽  
Knowledge Structures ◽  
Systematic Search ◽  
Economies Of Scope ◽  
Specific Knowledge ◽  
Knowledge Stocks ◽  
Over Time

This study examines differences in knowledge structures and combinative capabilities that provide family firms with distinct advantages over nonfamily firms in identifying opportunities. Drawing on constrained, systematic search, we explore how noneconomic goals and family relations enhance searching for opportunities. Unique human capital conditions create specific knowledge and economies of scope in knowledge combination. Differences in knowledge stocks, knowledge combination, and the long–term orientation of family firm managers explain differences in finding opportunities between family and nonfamily firms. Furthermore, we propose that family firms are more likely to improve their search routines over time. Fewer endgame scenarios in family firms allow the refinement of search routines.

scholarly journals Human Capital Persistence and Development

2017 ◽  
Vol 9 (4) ◽  
pp. 105-136 ◽  
Author(s):  
Rudi Rocha ◽  
Claudio Ferraz ◽  
Rodrigo R. Soares
Keyword(s):  
Twentieth Century ◽  
Human Capital ◽  
Income Per Capita ◽  
Long Run ◽  
Per Capita ◽  
Late Nineteenth ◽  
Settlement Policy ◽  
And Shifts ◽  
Over Time

This paper documents the persistence of human capital over time and its association with long-term development. We exploit variation induced by a state-sponsored settlement policy that attracted immigrants with higher levels of schooling to particular regions of Brazil in the late nineteenth and early twentieth century. We show that one century after the policy, municipalities that received settlements had higher levels of schooling and higher income per capita. We provide evidence that long-run effects worked through higher supply of educational inputs and shifts in the structure of occupations toward skill-intensive sectors. (JEL I26, J22, J24, J61, N36, O15, Z13)

Wage Differences between Polish and Romanian Intra-EU Migrants in a Flexi-Secure Labour Market: An Over-Time Perspective

2021 ◽  
pp. 095001702110562
Author(s):  
Jonas Felbo-Kolding ◽  
Janine Leschke
Keyword(s):  
Human Capital ◽  
Time Perspective ◽  
Language Education ◽  
Social Structures ◽  
Further Training ◽  
Wage Differences ◽  
Positive Return ◽  
Over Time ◽  
The Eu

By merging longitudinal register data and a customised survey, this article explores whether sectoral segmentation, migrants’ pre- and post-migration human capital and social structures, shape wages of Polish and Romanian long-term migrants to Denmark. Pronounced wage differences in favour of Polish migrants are evident in the first two years in Denmark, notwithstanding the same regulatory context under the free movement of labour in the EU. Wage differences persist – albeit at a considerably lower level – throughout the eight-year period, mainly because of significant sectoral segmentation. Sectoral segmentation not explained by demographics, pre-migration human capital or crisis effects, might indicate categorical stereotyping by employers. Regarding (co-ethnic) social networks, at least for the early stages of migration, the study does not find significant effects on wages. While the evidence shows a positive return on wages of formal higher education taken post migration, this is not the case for further training and Danish language education.

The long-term effect of training and development investment on financial performance in Korean companies

2019 ◽  
Vol 40 (6) ◽  
pp. 1092-1109 ◽  
Author(s):  
Kibum Kwon
Keyword(s):  
Human Capital ◽  
Financial Performance ◽  
Recovery Period ◽  
Training And Development ◽  
Long Term Effects ◽  
Delayed Effect ◽  
Cross Sectional ◽  
Content Type ◽  
Over Time

Purpose The purpose of this paper is to examine the relationship between training and development investment and financial performance over time. Human capital literature suggests that training and development investment may not immediately affect financial performance but may instead create effects that are realized over time. However, most existing cross-sectional research explores the influence of training and development investment on performance while overlooking training and development investment’s long-term effects. Design/methodology/approach This study focuses on the recovery period following the Great Recession circa 2008 in the South Korean business context. Longitudinal data from 312 firms, including four distinct waves, were used. Latent growth modeling was used to help identify a pattern of reciprocal relationships between training and development investment and financial performance over time. Findings The results indicate that even though growth in training and development investment is stable over time, there are significant between-firm differences in training and development investment trajectories over time. Prior financial performance was shown to be positively related to higher levels of training and development investment, but it was not related to growth in training and development investment. The initial level of training and development investment did not predict subsequent profit, but growth in training and development investment was positively related to future financial performance. Originality/value This study suggests that as an organization’s training and development investment increases over time, a delayed effect on financial performance may emerge because of this accumulated investment. Ultimately, the results highlight the importance of having a stock of human capital, rather than concentrating upon momentary flows that yield immediate effects.

Active Labour Market Policy and Unemployment Scarring: A Ten-year Swedish Panel Study

2008 ◽  
Vol 37 (3) ◽  
pp. 357-382 ◽  
Author(s):  
MATTIAS STRANDH ◽  
MADELENE NORDLUND
Keyword(s):  
Human Capital ◽  
Labour Market ◽  
Capital Investments ◽  
Labour Market Policy ◽  
Active Labour Market Policy ◽  
Market Policy ◽  
Active Labour ◽  
Human Capital Investments ◽  
Over Time

AbstractPrevious studies have shown mixed results concerning the effects of participation in active labour market policy programmes (ALMPs) on the longer-term scars in the form of poor income development and low job stability following the end of an unemployment spell. Most previous studies, however, have been limited both in the time frame used and to particular programmes. We argue that human capital investments are long-term investments and should therefore also be investigated from a long-term perspective. ALMP training and ALMPs as subsidised employment also represent different types of human capital investments that may produce effects that are differently distributed over time. In order to handle these issues, this article uses a longitudinal register-based dataset in which all long-term (more than six months) unemployed Swedes in 1993, who had no labour market problems in 1992, were followed for ten years. We found positive effects of ALMP participation concerning both the probability of reaching pre-unemployment incomes and a reduction in the hazard of exiting the labour market, while the effect on the probability of having an unemployment-free year was mixed. The effects of the two forms of ALMPs were differently distributed over time, with ALMP employment having an immediate effect that decreased relatively quickly and ALMP training having a longer-term effect.

Long–Term Orientation and Intertemporal Choice in Family Firms

2011 ◽  
Vol 35 (6) ◽  
pp. 1149-1169 ◽  
Author(s):  
G. T. Lumpkin ◽  
Keith H. Brigham
Keyword(s):  
Family Firms ◽  
Intertemporal Choice ◽  
Higher Order ◽  
Self Control ◽  
Three Dimensions ◽  
Dominant Logic ◽  
Over Time ◽  
Intertemporal Choices

A long–term orientation (LTO) is often associated with family firms, but the LTO construct is underdeveloped. This paper sets forth a framework for studying LTO in family firms including developing three dimensions—futurity, continuity, and perseverance. It identifies LTO as a higher–order heuristic that, in matters of intertemporal choice, provides a dominant logic for decisions and actions. Intertemporal choice refers to decisions with payoffs or outcomes that play out over time. Three mechanisms affecting intertemporal choices are identified—representation, self–control, and anticipation. LTO and intertemporal choice are further examined and discussed in the context of family firms.

scholarly journals On The Importance Of Family In Family Firms

2011 ◽  
Vol 6 (4) ◽  
Author(s):  
William B. Joyce
Keyword(s):  
Human Capital ◽  
Family Firms ◽  
Family Values

Family values may play an important role in shaping the organization of businesses and their efficiency. This paper first addresses the question of Why family firms? Family firms are discussed from the perspectives long-term, substitution, human capital, and politics. The paper then addresses family values and family firms discussing nepotism, legacy, and inheritance norms.

scholarly journals Capital structure in blockholder-dominated firms: a closer look on corporate ownership and control

2010 ◽  
Vol 7 (3) ◽  
pp. 86-104
Author(s):  
Ottorino Morresi
Keyword(s):  
Capital Structure ◽  
Family Firms ◽  
Corporate Ownership ◽  
Founding Family ◽  
Italian Context ◽  
Cash Flow Rights ◽  
And Control ◽  
Pyramidal Groups ◽  
Over Time

In countries where holding control takes on much relevance it is arguable that capital structure choices are shaped in response to ownership characteristics. These issues are explored in the Italian context being dominated by pyramidal groups and majority-controlled firms. The results show that (1) family firms are more indebted than non-family counterparts and, within family firms, (2) founding-family controlled ones are more reliant on debt; (3) family firms exploit control-enhancing devices along with long-term leverage; (4) higher cash flow rights are associated with a lower leverage; (5) institutional investors are more common in firms with a higher dependence on long-term debt; (6) decreasing trends of the long-term leverage over time seem to occur with upward paths of the votes-to-capital ratio

The Reproduction Vector of the Russian Economy: 1999-2007

2008 ◽  
pp. 94-109 ◽  
Author(s):  
D. Sorokin
Keyword(s):  
Economic Policy ◽  
Human Capital ◽  
Growth Rates ◽  
Developed Countries ◽  
Gdp Per Capita ◽  
Real Sector ◽  
Russian Economy ◽  
Per Capita ◽  
The Developed Countries

The problem of the Russian economy’s growth rates is considered in the article in the context of Russia’s backwardness regarding GDP per capita in comparison with the developed countries. The author stresses the urgency of modernization of the real sector of the economy and the recovery of the country’s human capital. For reaching these goals short- or mid-term programs are not sufficient. Economic policy needs a long-term (15-20 years) strategy, otherwise Russia will be condemned to economic inertia and multiplying structural disproportions.

Enhancing community welfare through improved water quality: a case for applying staggered pollution charges in the river Musi sub-basin of Andhra Pradesh, India

Water Policy ◽  
2005 ◽  
Vol 7 (5) ◽  
pp. 469-483
Author(s):  
Tishya Chatterjee
Keyword(s):  
Andhra Pradesh ◽  
Relevant Literature ◽  
Pollution Prevention ◽  
Economic Benefits ◽  
Environmental Damage ◽  
Marginal Costs ◽  
Community Acceptance ◽  
Level Data ◽  
Over Time

In conditions of severe water-pollution and dormant community acceptance of accumulating environmental damage, the regulator's role goes beyond pollution prevention and more towards remediation and solutions based on the community's long-term expectations of economic benefits from clean water. This paper suggests a method to enable these benefits to become perceptible progressively, through participatory clean-up operations, supported by staggered pollution charges. It analyses the relevant literature on pollution prevention and applies a cost-based “willingness to pay” model, using primary basin-level data of total marginal costs. It develops a replicable demand-side approach imposing charge-standard targets over time in urban-industrial basins of developing countries.

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