Financial Self-Efficacy in Family Business Environments

2021 ◽  
Vol 29 (03) ◽  
pp. 207-219
Author(s):  
Jasna Auer Antoncic ◽  
Drasko Veselinovic ◽  
Bostjan Antoncic ◽  
Dalma Lorena Grbec ◽  
Zhaoyang Li
Keyword(s):  
Family Business ◽  
Self Efficacy ◽  
Business Environment ◽  
Business Growth ◽  
Normative Model ◽  
Positive Effects ◽  
Business Environments ◽  
The Family ◽  
Research Gap ◽  
Start Ups

Entrepreneurial self-efficacy can have positive effects on entrepreneurship, company start-ups, and business growth. The family business environment has not yet been studied in relation to financial-self efficacy, a dimension of entrepreneurial self-efficacy. In order to address this research gap, this paper focuses on financial self-efficacy and how it relates to its antecedent — the family business environment. This study contributes to a better understanding of how financial self-efficacy has developed in the family business environment by building and checking a normative model. A hypothesis about family business environment experience and the financial self-efficacy relationship was developed and empirically tested using survey data from two countries. The findings of this research reveal the family business environment can make a difference in financial self-efficacy in certain economic contexts.

Family business leadership transition: How an adaptation of executive coaching may help

2010 ◽  
Vol 15 (3) ◽  
pp. 378-391 ◽  
Author(s):  
Charmine EJ Härtel ◽  
Gil Bozer ◽  
Leon Levin
Keyword(s):  
Organizational Climate ◽  
Family Business ◽  
Executive Coaching ◽  
Business Environment ◽  
Leadership Transition ◽  
Business Leadership ◽  
Executive Coaches ◽  
Family Culture ◽  
Business Environments ◽  
The Family

AbstractWithin the traditional business organizational climate in which an executive coach operates, the identity of ‘the coached’ (coachee) can be quite clearly differentiated from the business identity. This is not the case within the world of family business, where the incumbent family business leader, the successor, the business and the family culture, are interwoven. This unique feature of family business means that, for executive coaching to be effective within the family business environment, a radically different approach to that used in traditional business environments must be adopted – namely, the consideration of what generally are thought of as noneconomic variables. This article represents a first attempt to effectively address the key and unique variables executive coaches need to know to work within the family business environment.

Family business leadership transition: How an adaptation of executive coaching may help

2010 ◽  
Vol 15 (3) ◽  
pp. 378-391 ◽  
Author(s):  
Charmine EJ Härtel ◽  
Gil Bozer ◽  
Leon Levin
Keyword(s):  
Organizational Climate ◽  
Family Business ◽  
Executive Coaching ◽  
Business Environment ◽  
Leadership Transition ◽  
Business Leadership ◽  
Executive Coaches ◽  
Family Culture ◽  
Business Environments ◽  
The Family

AbstractWithin the traditional business organizational climate in which an executive coach operates, the identity of ‘the coached’ (coachee) can be quite clearly differentiated from the business identity. This is not the case within the world of family business, where the incumbent family business leader, the successor, the business and the family culture, are interwoven. This unique feature of family business means that, for executive coaching to be effective within the family business environment, a radically different approach to that used in traditional business environments must be adopted – namely, the consideration of what generally are thought of as noneconomic variables. This article represents a first attempt to effectively address the key and unique variables executive coaches need to know to work within the family business environment.

scholarly journals Shadow of Your Former Self: Exploring Project Leaders’ Post-Failure Behaviors (Resilience, Self-Esteem and Self-Efficacy) in High-Tech Startup Projects

2021 ◽  
Vol 13 (22) ◽  
pp. 12868
Author(s):  
Umer Zaman ◽  
Laura Florez-Perez ◽  
Pablo Farías ◽  
Saba Abbasi ◽  
Muddasar Ghani Khwaja ◽  
...  
Keyword(s):  
Self Efficacy ◽  
Self Esteem ◽  
High Tech ◽  
Positive Effects ◽  
Large Numbers ◽  
New Findings ◽  
Project Failures ◽  
Failure Conditions ◽  
Ict Industry ◽  
Start Ups

Globally, demands for sustainable strategies in the ICT industry have attracted greater momentum as high-tech projects continue to fail in large numbers. Recent studies have underpinned project resilience as a major factor for overcoming these increasing project failures, delays, or termination. However, the complex behaviors of resilient project leaders, especially in post-failure conditions, have been largely overlooked. To address this critical research gap, the present study identifies the direct relationships between three potential behavioral traits of project leaders (i.e., resilience, self-esteem, and self-efficacy) and examines how they move forward beyond project failures. The present study also explored whether self-esteem mediates project leaders’ resilience and self-efficacy. Drawing on data from 232 project leaders in Pakistan’s high-tech start-ups, the new findings suggest that there are significant positive effects of project leaders’ resilience and self-esteem on their self-efficacy, and that project leaders’ resilience and self-efficacy is significantly mediated by their self-esteem. As the project resilience theory gains traction, the present study findings have pinpointed major steps for meeting project challenges ahead of time, allowing leaders and teams to learn from failures, and also for improving organisations’ ability to implement successful and sustainable high-tech projects especially in emerging economies.

Data Analytics

2020 ◽  
pp. 344-361
Author(s):  
Manuel Alejandro Morales-Serazzi ◽  
Oscar González-Benito ◽  
Mercedes Martos-Partal
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Data Analytics ◽  
Family Firms ◽  
Quality Information ◽  
Success Factor ◽  
Key Factors ◽  
Business Growth ◽  
The Family ◽  
The World

The growing proliferation of data in firms around the world have made analytics a success factor for business growth, and by default, achieving greater performance. This research proposes a data analytics model for marketing decision making. Literature was reviewed, and several key factors for the growth of the family business were identified. In addition, 140 marketing managers from family and non-family firms in Spain were surveyed. Four key factors were identified to implement a data analytics project. An empirical model is presented, which allows visualizing the relationships that generate quality information. Data analytics is a competitive advantage for recognized firms in the world; however, there is an underutilization of information by the family business. This chapter allows reducing the gap between competitors, regardless of their ownership structure. Therefore, it declares a challenge and an opportunity for the family firm.

BUSINESS ENVIRONMENT, START-UPS, AND PRODUCTIVITY DURING TRANSITION

2012 ◽  
Vol 16 (S2) ◽  
pp. 213-231 ◽  
Author(s):  
Zuzana Brixiová ◽  
Balázs Égert
Keyword(s):  
Empirical Studies ◽  
Business Environment ◽  
Business Climate ◽  
State Sector ◽  
Business Environments ◽  
Baltic Countries ◽  
Role Of The State ◽  
Independent States ◽  
Start Ups ◽  
Productivity Gap

The transition paths from plan to market have varied markedly across countries. Central and Eastern European and Baltic countries, which opted for fast and deep reforms including transformation of their business environments, rapidly narrowed the productivity gap with advanced economies. In contrast, in countries of the Commonwealth of Independent States, which embarked on reforms later and with less depth, the productivity gap remains large. Whereas the literature has focused mainly on empirical studies, this paper develops a dynamic search model of firm start-ups that reflects these trends. The model shows that an enabling business climate contributes to start-ups of highly productive firms at an earlier stage of transition, underscoring the importance of early reforms. The role of the state sector as an employer during transition rises in countries where reforming the business environment is particularly costly.

Carvajal, S.A.: Building on a Century of Business Growth and Family Values

2017 ◽  
pp. 1-22
Author(s):  
Ivan Lansberg ◽  
Mary Alice Crump ◽  
Sachin Waikar
Keyword(s):  
Family Business ◽  
Family Values ◽  
Business Growth ◽  
Holding Company ◽  
Sixth Generation ◽  
The Family ◽  
Governance Challenges ◽  
Governance Network ◽  
State Of Affairs ◽  
Business Challenges

This case presents the history and recent governance challenges of Carvajal, S.A., a Colombia-based, family-owned, billion-dollar-plus holding company that had offered printing-related (e.g., Yellow Pages, notebooks) and other products and services across and beyond South America for more than a century. Specifically, the case details the company’s state of affairs in early 2011, a time by which Carvajal’s flagship businesses had matured rapidly with the emergence of digital technology and diminished demand for paper/print-based products. Though profits and growth remained positive, Carvajal’s leaders knew that upholding the business’s legacy of returns, dividends for all family members, and extensive philanthropy would take significant strategy and execution.Compounding the strategy issues, Carvajal faced these market challenges with new leadership: the first non-family CEO since the company’s inception. Well-established Colombian executive Ricardo Obregon had been hired in 2008 over two family candidates to lead the business. Obregon was to oversee a complex governance network that included a holding company with seven operating companies, their management and respective boards, a family council, and 280 members (including spouses) of a shareholding family in its sixth generation. Carvajal’s business and family leaders had to face market issues and decisions that included the possibility of taking public the operating companies and/or the holding company while maintaining the business’s long traditions of unity, respect, strong ethics, and philanthropy. That meant optimizing several crucial relationships: between the family and the new CEO; between the family and the board; between the operating companies and the holding company; and between members of the large Carvajal family, many of whom now resided outside of Colombia and Latin America.Understand general and specific challenges associated with carrying on a longstanding family business facing multiple market challenges; explore the process of engaging a complex family-business governance network to handle business challenges while maintaining family values; consider the effects of culture on a multi-generation family business.

scholarly journals Perception of formal and informal institutions by entrepreneurs in China, Morocco, and Germany – A cross-cultural pilot study

2020 ◽  
Vol 56 (4) ◽  
pp. 324-338
Author(s):  
Rainer Busch ◽  
Karim Gassemi ◽  
Julie Papastamatelou ◽  
Alexander Unger ◽  
Christian May
Keyword(s):  
Self Efficacy ◽  
Business Strategy ◽  
Informal Institutions ◽  
Business Environment ◽  
Cross Cultural ◽  
Institutional Factors ◽  
Business Environments ◽  
Formal And Informal Institutions ◽  
Similarities And Differences ◽  
Linear Regressions

AbstractIntroduction and AimsEntrepreneurship and the business environment, in general, are being influenced by the existence of formal and informal institutions. This study focuses on the negative versus positive perceptions of Moroccan, Chinese, and German entrepreneurs to formal and informal institutions, and the associations of these perceptions with self-efficacy and market versus network orientation of the business environment.MethodsIn a sample of n = 319 female and male entrepreneurs, we have examined similarities and differences in the perception of informal and formal institutions and their effects on self-efficacy and business strategy, while conducting t-tests and linear regressions.ResultsIn all three cultural contexts, both formal and informal institutions play a significant role because of different reasons.ConclusionThe nature of entrepreneurship is complex as both formal and informal institutional factors are differently associated with businesses. The results could enhance the understanding regarding the coexistence of formal or informal institutions within the business environments of different countries and the connections between business orientation and self-efficacy.

scholarly journals The Effect of Religiosity, Spirituality and Family Power Influence on Family Business Sustainable Values

2019 ◽  
pp. 172-211
Author(s):  
Zazli Lily Wisker ◽  
Vikinta Rosinaite ◽  
Balakrishnan Muniapan
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Family Business ◽  
Religious Practice ◽  
Family Businesses ◽  
Positive Effects ◽  
The North ◽  
The Family ◽  
Negative Effect ◽  
Corporate Social

Family businesses are distinct from non-family businesses due to the families’ involvement in managing and influencing the business. The influence can take several forms. This study examines if religiosity, spirituality and power influence of the owning family business affect the family businesses’ corporate social responsibility towards their customers, employees, shareholders and societies. The study hypothesises positive effects of religious belief, religious practice, spirituality and power influences on family business corporate social responsibility. Data was collected among 251 family members from 84 small to medium-sized family businesses in the North Island of New Zealand. The relationships were significant for spirituality and religious practice (negative effect). Ultimately, discussion and practical implications are discussed.

scholarly journals Diversification of the family business in emerging countries from the perspective of socio-emotional wealth. Literature Review

2019 ◽  
Vol 35 (63) ◽  
pp. 89-100
Author(s):  
Silvia Luján Corral ◽  
Alfredo Rébori
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Business Environment ◽  
Emerging Countries ◽  
Family Ownership ◽  
Strategic Choices ◽  
Business Decision ◽  
Strategic Option ◽  
The Family ◽  
Emotional Aspects

The objective of this paper is to identify the relevant aspects studied in connection to the diversification of the family business that develops its activity in a business environment with unstable characteristics, considering those socio-emotional aspects that are particularly important for the family owner, and that could impact this election. The review reflects that research on the topic is in an incipient state. Studies conducted in the context of Taiwan predominate - where it is customary to establish business groups supported by strong links generated from a dominant family - and the strategic option of diversifying has been strongly associated with the purpose of securing family ownership and continuity in the business through generational transfer, dimensions that make up socio-emotional wealth. This paper contributes to reflect on the influence that family objectives exert on business decision-making and highlights the need for further research on the reasons behind the strategic choices of these organizations in different emerging markets.

scholarly journals Problem agencji z perspektywy menedżera spoza rodziny na przykładzie wybranej firmy rodzinnej

2021 ◽  
pp. 111-124
Author(s):  
Łukasz Kielan ◽  
◽  
Maciej Władysław Pełczewski ◽  
Keyword(s):  
Family Business ◽  
Single Case ◽  
Problem Management ◽  
Family Enterprise ◽  
Model Research ◽  
The Family ◽  
Research Gap ◽  
The Subject ◽  
A Company

Purpose – The purpose of the article is to present the problem of an agency from the perspective of a manager managing a family business. The authors will present a theoretical outline, then analyse the results of research carried out on a selected family enterprise and present a problem management model. Research method – The study uses classical research methods, such as the analysis of the literature on the subject, as well as a single-case study. Result – Presenting the perspective of a manager, from outside the family, managing a family business, as well as solutions minimizing the conflict between agent and principal. Conclusions – In this case, the authors presented the results of research in a company in which part of the management is assigned to the manager. In the light of the already knownresearch of companies in Poland, there are very few such examples, which was a research gap that the authors wanted to fill.

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