DEFINING LISTED FAMILY CONTROLLED CORPORATIONS — AN AGENCY THEORY PERSPECTIVE

2010 ◽  
Vol 18 (04) ◽  
pp. 377-397 ◽  
Author(s):  
JAMES LAU
Keyword(s):  
Decision Making ◽  
Agency Theory ◽  
Family Firms ◽  
Empirical Studies ◽  
Significant Proportion ◽  
Operational Definition ◽  
Management Control ◽  
Family Needs ◽  
Decision Making Processes ◽  
Definition Of

Recent research shows that a significant proportion of listed corporations in a number of major financial markets across the world are classified as family firms. That classification is based on a number of different definitions of a family firm, using criteria such as an ownership threshold and/or the presence of a family member on the board of directors and/or in the top managerial positions. The lack of a universal definition of listed family controlled corporations may undermine the comparability or even the validity of any empirical results reported. This paper aims to resolve the diversity of definitions in use by developing an operational definition of listed family controlled corporations that is consistent with agency theory — the most commonly adopted theoretical framework in existing empirical studies. Based on agency theory, I argue that the key difference between family and non-family firms lies in the control of the decision making processes of the corporation. I further argue that a family needs to dominate the management control structure in order to control decision making processes.

An Analysis of the Demand for Reporting on Internal Control

2000 ◽  
Vol 14 (3) ◽  
pp. 325-341 ◽  
Author(s):  
Heather M. Hermanson
Keyword(s):  
Decision Making ◽  
Financial Reporting ◽  
Internal Control ◽  
Operational Definition ◽  
Financial Statement ◽  
Individual Investors ◽  
Internal Auditors ◽  
Additional Information ◽  
User Groups ◽  
Definition Of

The purpose of this study is to analyze the demand for reporting on internal control. Nine financial statement user groups were identified and surveyed to determine whether they agree that: (1) management reports on internal control (MRIC) are useful, (2) MRICs influence decisions, and (3) financial reporting is improved by adding MRICs. In addition, the paper examined whether responses varied based on: (1) the definition of internal control used (manipulated as broad, operational definition vs. narrow, financial-reporting definition) and (2) user group. The results indicate that financial statement users agree that internal controls are important. Respondents agreed that voluntary MRICs improved controls and provided additional information for decision making. Respondents also agreed that mandatory MRICs improved controls, but did not agree about their value for decision making. Using a broad definition of controls, respondents strongly agreed that MRICs improved controls and provided a better indicator of a company's long-term viability. Executive respondents were less likely to agree about the value of MRICs than individual investors and internal auditors.

Geographic Marketing in Support of Decision-Making Processes

2020 ◽  
pp. 103-115
Author(s):  
Maria Fernanda Augusto
Keyword(s):  
Decision Making ◽  
Geographic Information ◽  
Essential Elements ◽  
Added Value ◽  
Key Factors ◽  
Digital Maps ◽  
Decision Making Processes ◽  
Growth Prospects ◽  
Definition Of ◽  
Different Sources

Nowadays, geographic information and spatial aspects are essential elements for the definition of companies' strategies. With the use of different sources data, companies were able to obtain insights that they could not obtain without the spatial component and were able to use them to optimize their business. Then, geographic marketing presents itself as an added value for companies, one of the key factors being its role in supporting decision making. The main attributes of geographic marketing or GeoMarketing allow us to identify and present through digital maps the behavior and trends of certain variables based on characteristics of a market. The meticulous study of spatial and demographic information generated by GeoMarketing are crucial for important strategic adjustments in the business plan, such as definitions related to the location considered ideal for the business, target audience, price and growth prospects, among other factors. In this context, GeoMarketing will be introduced, exploring its scope, applicability, and relevance of its use in support of the decision-making process.

Management Control Instruments

2020 ◽  
pp. 111-142
Keyword(s):  
Decision Making ◽  
Information System ◽  
Knowledge Management ◽  
Business Environment ◽  
Management Control ◽  
Activity Based Costing ◽  
Work Processes ◽  
Internal Work ◽  
Management Techniques ◽  
Definition Of

The definition of the dialogue instruments is closely linked to the management of the knowledge that companies want to implement and should contribute to the proper functioning of the management control tools and to the sharing, application, and knowledge creation within the organization. In this chapter, some knowledge management techniques will be presented, which should be defined, taking also into consideration the management control systems to be implemented. In view of the constant changes in the business environment, the company must be market-oriented, and adequate information by segments will be highlighted for decision making. Being important to obtain efficiencies in the realization of internal work processes, the authors also describe some topics of the activity-based costing and activity-based management. As organizations are becoming more complex and decentralized, the information system should also adapt. In this sense, the authors describe organizational types and the adaptation of the management control instruments.

Defining the Phenomenon of Mental Models for Critical Events

2013 ◽  
Author(s):  
Kanter van Deurzen ◽  
Imre Horváth ◽  
Regine Vroom
Keyword(s):  
Decision Making ◽  
Mental Models ◽  
Mental Model ◽  
Real Life ◽  
Critical Events ◽  
Cognitive Representations ◽  
Related Information ◽  
Strong Relation ◽  
Decision Making Processes ◽  
Definition Of

People use cognitive representations in order to characterize, understand, reason and predict the surrounding world. A class of these representations are called mental models. Designers of informing systems are interested in how mental models influence decision making, especially during critical events. With this knowledge they could optimize the content and amount of information that is needed for a dependable decision making process. New insights are needed about the operation of mental models in the course of critical events, as well as on how informing influences the real life operationalization of mental models. Most of the definitions available in the literature are overly general, and no definition was found that would support the design of informing systems for critical events. Therefore, the objective of our research was to derive a definition of mental models that play a role in critical events. Actually, we systematically constructed a definition from those attributes of mental model descriptions that were found to be relevant to critical events. First we decomposed 125 published descriptions to a set of attributes, and then assessed each attribute to see if they were associated with critical events, or not. In fact, this analysis involved not only the relevance of the attributes to critical events, but also the frequency of occurrence in the surveyed papers. This exploration provided a large number of attributes for a new mental model definition. Based on the top rated attributes, a definition was synthesized which, theoretically, has a strong relation to critical events. Though further validation will be needed, we argue that the derived mental model definition is strong because it establishes relationships with all generic features of critical events and makes the related information contents explicit. Hence the proposed definition can be considered a starting platform for investigations of the influence of informing on decision making processes in critical events.

The Foundations of Tactics and Strategy in Team Sports

1999 ◽  
Vol 18 (2) ◽  
pp. 159-174 ◽  
Author(s):  
Jean-Francis Gréhaigne ◽  
Paul Godbout ◽  
Daniel Bouthier
Keyword(s):  
Decision Making ◽  
Critical Thinking ◽  
Team Sports ◽  
Operational Definition ◽  
Internal Logic ◽  
Teachers And Students ◽  
Definition Of ◽  
Teaching Learning

The debate regarding the teaching of sport and games appears to be more complex than a matter of technical versus tactical approaches. The authors identify facets of the debate. One of these facets concerns the undifferentiated use of the terms tactics and strategy. The authors argue that these two concepts need to be clarified if decision-making and critical-thinking are to be encouraged on the part of the students. A framework is put forward for the analysis of the functioning of team sports. The framework includes: (a) an overview of the internal logic of team sports based on two essential features, the rapport of strength and the competency network; (b) an operational definition of strategy and tactics as they relate to the internal logic of team sports; and (c) nine principles underlying tactics and strategy and presented as potential guides for teachers and students in the teaching-learning of team sports and games.

How to Trust

2012 ◽  
Vol 3 (3) ◽  
pp. 20-34 ◽  
Author(s):  
Massimo Felici
Keyword(s):  
Decision Making ◽  
Decision Model ◽  
General Definition ◽  
Decision Making Processes ◽  
Definition Of

This paper concerns decision-making processes that rely on trust. In particular, it analyzes how different aspects of trust (e.g., trust, trustworthiness, trustworthy evidence) influence trust decisions, and acting on them eventually. It proposes a trust decision model that structures the analysis of contextualized trust problems. Rather than seeking a general definition of trust, this paper advocates the necessity to have a structured way to analyze and characterize situational trust problems systematically.

Revisiting MMORPGs in Support of Learning

2019 ◽  
pp. 187-214
Author(s):  
Bodi Anderson
Keyword(s):  
Empirical Studies ◽  
Role Playing ◽  
Operational Definition ◽  
Future Research ◽  
Educational Benefits ◽  
Role Playing Games ◽  
Player Game ◽  
Recent Trends ◽  
Definition Of ◽  
Education Psychology

This enhanced chapter revisits a previous literature analysis of research on the potential educational benefits of the use of massive multiplayer online role playing games (MMORPG) by considering both changes in the medium itself and recent trends in research. Initially, a working operational definition of MMORPGs in education is considered in light of research to date with a focus on how MMORPGs differ from most video games in terms of types of player-game interaction, levels of player-player interaction, and environments in which interaction occurs. Next considering previous and current theoretical and empirical studies on MMORPGs from a variety of disciplines, including education, psychology, and linguistics, a conceptual framework for the use of MMORPGs in support of learning is created. Finally, an overview of current research trends in MMORPGs is provided, concluding with suggestions concerning future research of the use of MMORPGs in support of learning.

Ethical E-Participation

2015 ◽  
pp. 433-455
Author(s):  
Marco Picone ◽  
Francesco Lo Piccolo
Keyword(s):  
Decision Making ◽  
Social Justice ◽  
Public Participation ◽  
Theoretical Framework ◽  
Digital Mapping ◽  
Decision Making Processes ◽  
Public Participation Gis ◽  
Definition Of

The most recent forms of e-participation seem to provide new issues that need to be discussed. One such discussion involves the role of GIS. Can an ethically aware GIS be conceived? What does it mean for a GIS to be ethical at all? Throughout this paper, first the authors create a theoretical framework to encompass four key elements that lead us to the definition of ethical digital mapping: GIS ethics, social justice, power, and participation. Then they introduce the concept of PPGIS (Public Participation GIS), and argue that only a ‘qualitative turn' can enhance their importance in decision-making processes. Finally, the authors discuss an experiment that is currently taking place in Palermo, Italy, to debate the opportunities qualitative PPGIS may grant.

A Tool for Improving Decision Quality on Upstream Consortia

2021 ◽  
Author(s):  
J. C. Cunha ◽  
J. Eric Bickel ◽  
Luis Mendoza ◽  
Jeremy Walker ◽  
Ellen Coopersmith ◽  
...  
Keyword(s):  
Decision Making ◽  
Decision Quality ◽  
Project Delivery ◽  
Decision Framing ◽  
Practical Guidelines ◽  
Decision Making Processes ◽  
Decision Management ◽  
Definition Of ◽  
Good Set ◽  
High Level

Abstract This article aims to provide a guideline to better decision quality on multi-company upstream projects. The scope is to provide a high-level overview of what should be included in a decision quality process, when companies with different levels of ownership and influence on the decision-making process naturally tend to have different approaches towards risks and decision management. It is well known in our industry that there is a predominance of multicompany participation in these projects and the paper will provide guidelines that will ultimately provide better decision quality and participant's alignment. Normally high-risk upstream projects have multi-company ownership. However, it has been noticed that companies tend to face decision management differently, which causes unnecessary delays on budget approvals and even operational timeline. Procedures to normalize the definition of an initial decision frame and creation of solutions based on a good set of alternatives are paramount to facilitate discussions and drive final recommendations. In summary, companies’ alignment on decision-making processes is key to quality, speed, and effectiveness of those decisions and critical to project success. Alignment between partners on pivotal decisions can significantly improve project delivery. The main results are practical guidelines for generating (a) decision framing, (b) strategies, (c) alternatives and potential consequences, and (d) logical analysis, partners’ alignment and commitment to action.

(Re)-Defining ‘Teacher’: Preservice Teachers with Disabilities in Canadian Teacher Education Programs

2018 ◽  
Vol 42 (01) ◽  
pp. 17-29 ◽  
Author(s):  
Alina Wilson ◽  
Laura Sokal ◽  
Deb Woloshyn
Keyword(s):  
Decision Making ◽  
Teacher Education ◽  
Preservice Teachers ◽  
Student Teaching ◽  
Teacher Education Programs ◽  
Education Programs ◽  
Decision Making Processes ◽  
Canadian Provinces ◽  
Definition Of ◽  
Current Standards

Directors of Student Teaching from the Western Canadian provinces participated in focus groups about the realities and decision-making processes around practicum for preservice teachers with disabilities. Results showed current standards, when applied rigidly, served to reify a static, homogenous, and unrealistic definition of ‘teacher’ that marginalises preservice teachers with disabilities. However, the effort of directors to challenge this notion of ‘teacher’, framed within the constructionist model of disability, gives hope for a more inclusive future teaching force.

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