scholarly journals To patent or not to patent: That is the question. Intellectual property protection in family firms

2018 ◽  
Vol 44 (2) ◽  
pp. 339-367 ◽  
Author(s):  
Francesco Chirico ◽  
Giuseppe Criaco ◽  
Massimo Baù ◽  
Lucia Naldi ◽  
Luis R. Gomez-Mejia ◽  
...  
Keyword(s):  
Intellectual Property ◽  
Family Firms ◽  
Threshold Level ◽  
Intellectual Property Protection ◽  
Family Ownership ◽  
Nonlinear Relationship ◽  
Socioemotional Wealth ◽  
Agency Model ◽  
Beneficial Effects ◽  
Environmental Munificence

This study examines family firms’ propensity to protect their intellectual property through patents. Building on the mixed gamble logic of the behavioral agency model, we theorize that family ownership has a U-shaped relationship with firm propensity to patent. Specifically, we argue that family firms’ desire to prevent losses of current socioemotional wealth (SEW) inhibits their propensity to patent until a threshold level of family ownership, beyond which the family’s SEW is secured and a greater focus on prospective financial gains attainable through patents is possible. We also suggest that environmental munificence moderates this nonlinear relationship such that a low-munificent environment accentuates the potentially detrimental (beneficial) effects of low-to-medium (medium-to-high) levels of family ownership on patents. We test our hypotheses on a sample of 4,198 small- and medium-sized family firms.

Family Ownership Goals and Socioemotional Wealth: Evidence from Finnish Family Firms

2018 ◽  
Vol 26 (02) ◽  
pp. 207-224 ◽  
Author(s):  
Mariateresa Torchia ◽  
Marita Rautiainen ◽  
Andrea Calabrò ◽  
Tuuli Ikäheimonen ◽  
Timo Pihkala ◽  
...  
Keyword(s):  
Survey Data ◽  
Goal Setting ◽  
Family Firms ◽  
Family Ownership ◽  
Socioemotional Wealth ◽  
Ownership Status ◽  
Impact On Family

By focusing on family owners’ perceptions and dynamics the aim of this paper is to understand the specific goals associated to their ownership status and whether and to what extend they impact on family firms’ growth and continuity. We use survey data on Finnish family firms and identify a set of differentiated family owners’ goals. Our findings contribute to the debate on differentiating socioemotional wealth by untangling the existence of variations in family principals’ goal setting and the importance to also consider that financial motives could determine family owners’ goals.

An Institution-Based View of Large Family Firms: A Recap and Overview

2018 ◽  
Vol 42 (2) ◽  
pp. 187-205 ◽  
Author(s):  
Mike W. Peng ◽  
Wei Sun ◽  
Cristina Vlas ◽  
Alessandro Minichilli ◽  
Guido Corbetta
Keyword(s):  
Family Firms ◽  
Large Family ◽  
Family Firm ◽  
Family Ownership ◽  
Socioemotional Wealth ◽  
Broad Scope ◽  
The World ◽  
Institutional Transitions ◽  
Recent Debate ◽  
And Control

This article sketches the contours of an institution-based view of family ownership and control in large firms, with a focus on institutional roots, institutional relatedness, and institutional transitions. The institution-based view brings considerable continuity to family-firm research. It also offers significant novelty in helping resolve some puzzles. Specifically, it answers why the Berle and Means hypothesis on the “inevitability” of separation of ownership and control has not received support in many parts of the world. Finally, its broad scope enables us to integrate institution-based arguments with an important recent debate on the socioemotional wealth (SEW) priorities of family firms.

Family Firms and Compliance: Reconciling the Conflicting Predictions Within the Socioemotional Wealth Perspective

2016 ◽  
Vol 30 (2) ◽  
pp. 137-159 ◽  
Author(s):  
Luiz Ricardo Kabbach de Castro ◽  
Ruth V. Aguilera ◽  
Rafel Crespí-Cladera
Keyword(s):  
Corporate Governance ◽  
Family Firms ◽  
Family Influence ◽  
Family Ownership ◽  
Socioemotional Wealth ◽  
Agency Conflict ◽  
Corporate Governance Codes ◽  
Control Dimension ◽  
Governance Institutions ◽  
And Control

We draw on the socioemotional wealth perspective to examine the influence of family ownership on firms’ noncompliance with corporate governance codes. Our results yield an inverted U-shaped effect of family ownership on noncompliance. While the family influence and control dimension leads to high levels of noncompliance, socioworthiness stemming from image and reputation dimension lessens noncompliance. In the presence of potential agency conflict, the control dimension prevails over reputation, even in countries with strong governance institutions. Our findings have critical implications for family business theory, for governance policy making and also for better understanding corporate governance in family firms.

scholarly journals Influence of Family Involvement on Family Firm Internationalization: The Moderating Effects of Industrial and Institutional Environments

2019 ◽  
Vol 11 (20) ◽  
pp. 5721 ◽  
Author(s):  
Lixin Zhou ◽  
Yan Han ◽  
Chaoli Gou
Keyword(s):  
Family Firms ◽  
Institutional Environment ◽  
Family Firm ◽  
Family Management ◽  
Chinese Family ◽  
Family Ownership ◽  
Moderating Effects ◽  
Environmental Munificence ◽  
Political Ties ◽  
Firm Internationalization

This paper aimed to explore the effects of family ownership and management on Chinese family firm internationalization, and to examine the moderating effects of environmental munificence, institutional environment, and political ties in this relationship. A questionnaire survey of 274 family firms in 8 provinces or municipalities in China was conducted to test the proposed hypotheses empirically. The results were as follows: First, family ownership and management positively impacted the depth and breadth of internationalization. Second, environmental munificence weakened the effect of family ownership on the depth of internationalization, as well as on the effect of family management on the breadth of internationalization, but intensified the effect of family management on the depth of internationalization. Third, the institutional environment intensified the effects of family management on the depth and breadth of internationalization. Finally, political ties weakened the effect of family management on the depth of internationalization, but intensified the effect of family ownership on the breadth of internationalization. The contributions and implications of this study are also discussed.

Corporate Social Responsibility and Earnings Management: The Moderating Role of Family Ownership

2019 ◽  
Vol 12 (1) ◽  
Author(s):  
Asif Saeed ◽  
Aijaz Mustafa Hashmi ◽  
Attiya Yasmin Javid
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Earnings Management ◽  
Family Firms ◽  
Negative Impact ◽  
Stock Exchange ◽  
Least Square ◽  
Family Ownership ◽  
Corporate Social ◽  
The Impact

This study aims to explore the impact of family ownership on the relationship among corporate social responsibility (CSR) and earning management (EM) in Pakistan. Data is collected from nonfinancial listed firms on Pakistan Stock Exchange (PSE) for the period 2009-2017. Our results of pooled ordinary least square regression indicate that CSR has significant negative impact on EM. Furthermore, results also indicate that association between CSR and EM is moderated by family ownership. Family firms which perform CSR activities are less involved in EM as compare to nonfamily firms perform CSR activities. This variation in behavior of EM in family and non-family firms can possibly be explained by socioemotional wealth theory. Keywords: Corporate Social Responsibility, Earnings Management, Family Ownership

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