scholarly journals The Role of Innovation in Small and Medium-Sized Family Firms: A Literature Review

2021 ◽  
Vol 9 (5) ◽  
pp. 102-120
Author(s):  
Ondrej Zizlavsky ◽  
Nikola Janickova
Keyword(s):  
Czech Republic ◽  
Firm Growth ◽  
Family Firms ◽  
Family Firm ◽  
Future Research ◽  
Value Drivers ◽  
The Czech Republic ◽  
Definition Of ◽  
The Relationship

This article builds on existing family business research conducted worldwide and embeds the research results in the Czech context to portray the Czech Republic as a critically important context for extending our knowledge on important family firms’ topics. In this article, we present a systematic review and integration of 69 articles published in peer-reviewed journals by Elsevier, Emerald, Wiley and others from 2015 to 2021 in order to answer two research questions: what is the role of innovation in SME family firms and what drives the innovation in family firms? Specifically, the content of the article discusses the new definition of family firm in the Czech Republic; the relationship between innovation and family firm growth; and some contextual factors that might affect the innovations in the Czech SME family firms: ability and willingness paradox, socioemotional wealth, and familiness. The insights of this review are used to develop suggestions for future research in setting the value of family firm where innovation can play an essential role as one of the core value drivers.

Payout differences between family and nonfamily listed firms: a socioemotional wealth perspective

2016 ◽  
Vol 6 (1) ◽  
Author(s):  
Manon Deslandes ◽  
Anne Fortin ◽  
Suzanne Landry
Keyword(s):  
Design Methodology ◽  
Family Firms ◽  
Family Firm ◽  
Future Research ◽  
Share Repurchases ◽  
Probit Regression ◽  
Socioemotional Wealth ◽  
Listed Firms ◽  
Definition Of ◽  
The Relationship

Purpose The objective of this study is to explain family firm payout decisions based on socioemotional wealth (SEW) considerations. Design/methodology/approach A sample of publicly listed Canadian companies is examined for the period from 2003 to 2008. Distinguishing family firms from nonfamily firms, a Probit regression is used to analyze the likelihood of making a payout. For payout firms, regressions are used to analyze the relationship between payout level (dividends and share repurchases) and payout mix and family firms. Findings Results indicate that family firms are more likely to make a payout than nonfamily firms. Among payout firms, the level of payout among payout firms is lower for family firms than for nonfamily firms and their portion of payout in the form of dividends is higher. Lone founder family firms have a lower likelihood of making payouts than other family firms. However, among payout firms, they pay out more than other family firms and have a smaller percentage of their total payout in dividends than other family firms. Research limitations/implications Results are impacted by the definition of what constitutes a family firm. Family ownership was used as a proxy for the underlying SEW considerations. Future research could involve interviews with family firm representatives to investigate the relative importance of SEW considerations in their payout decisions. Originality/value In providing an alternative theoretical framing of family firms’ payout policies, the study suggests that payout differences between family and nonfamily firms may be driven in part by SEW considerations.

Birth mode of family firms, family entering time and R&D investment: evidence from China

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Muhammad Zulfiqar ◽  
Shihua Chen ◽  
Muhammad Usman Yousaf
Keyword(s):  
Agency Theory ◽  
Family Firms ◽  
Family Firm ◽  
Research Database ◽  
Content Type ◽  
Firm Birth ◽  
The Relationship ◽  
D Investment ◽  
Moderating Role

PurposeOn the basis of behavioural agency theory and resource-based view, this study investigates the influence of family firm birth mode (i.e. indirect-established or direct-established), family entering time on R&D investment and the moderating role of the family entering time on the relationship between birth mode and R&D investment.Design/methodology/approachThe authors collected 2,990 firm-year observations from family firms listed on A-share in China from 2008 to 2016 in the China Stock Market and Accounting Research database. They used pooled regression for data analysis and Tobit regression for robustness checks.FindingsIndirect-established family firms show more inclined behaviour towards R&D investment than direct-established counterparts. Family entering time positively affects the R&D investment of family firms. Moreover, family entering time plays a significant moderating role in the relationship between family firm birth mode (i.e. indirect-established or direct-established) and R&D investment.Originality/valueTo the best of the authors’ knowledge, this work is a pioneering study that introduced the concept of family firm birth mode (i.e. indirect-established or direct-established) and family entering time. This work is novel because it differentiated family firms according to their birth modes, an approach which is a contribution to the existing literature of family firms. Moreover, the investigation of the moderating role of family entering time has also produced notable results that help understand the impact of family entering time on different types of family firms. The interpretation of outcomes according to behavioural agency theory also produced useful insights for future researchers as well as for policymakers.

The Effects of Family Versus Career Role Salience on the Performance of Family and Nonfamily Firms

2009 ◽  
Vol 22 (1) ◽  
pp. 39-52 ◽  
Author(s):  
Tim Barnett ◽  
Kimberly Eddleston ◽  
Franz Willi Kellermanns
Keyword(s):  
Family Firms ◽  
Family Firm ◽  
Performance Outcomes ◽  
Theory And Practice ◽  
Future Research ◽  
Role Salience ◽  
Family Versus ◽  
Future Research Directions ◽  
Using Data ◽  
The Relationship

This study investigated how the relative salience of business owners' family and career roles might influence performance outcomes in family versus nonfamily firms. Using data from 156 family and nonfamily firms, the data show that family firm status moderates the relationships such that the career role salience of a business owner is positively and more strongly associated with performance outcomes in family firms than in nonfamily firms. Conversely, the data show that family firm status negatively moderates the relationship between the business owner's family role salience and expansion activities. Implications for theory and practice, as well as future research directions, are discussed.

Transforming Former State Enterprises in the Czech Republic

1995 ◽  
Vol 16 (2) ◽  
pp. 215-242 ◽  
Author(s):  
Ed Clark ◽  
Anna Soulsby
Keyword(s):  
Czech Republic ◽  
Organizational Transformation ◽  
Organizational Analysis ◽  
Institutional Pressures ◽  
The Czech Republic ◽  
Organizational Continuity ◽  
Recent Developments ◽  
State Enterprises ◽  
The Relationship

The study of organizational transformation has emerged from the foundations established by contingency theory and research. While institutional approaches to organizational analysis have preferred to focus on the tendency towards organizational continuity and inertia, recent developments have begun to con sider institutional pressures leading to change, and to provide clues about how contingency and institutional theories might complement each other in improv ing our understanding of organizational change. The evidence presented in this paper, drawn from a study of organizational transformation in the Czech Republic, allows exploration of the relationship between transforming state enterprises and the wider processes of social, economic and institutional change. The values, motives and actions of the key enterprise managers are shown to be essential factors in explaining both the process of transformation in state enterprises, and the role of institutional factors in that process.

scholarly journals Role of companies’ size in socio-economic development of regions in the Czech Republic

2019 ◽  
Vol 70 (6) ◽  
pp. 833-848
Author(s):  
Radka Redlichová ◽  
Gabriela Chmelíková ◽  
Ivana Blažková ◽  
Vojtěch Tamáš
Keyword(s):  
Economic Development ◽  
Czech Republic ◽  
Regional Development ◽  
Unemployment Rate ◽  
Small Firms ◽  
Size Structure ◽  
The Czech Republic ◽  
Socio Economic Development ◽  
The Relationship

The aim of this paper is to investigate socio-economic development drivers of NUTS 3 regions in the Czech Republic. The aim is fulfilled by examination of the relationship between one of the regional development factors – the companies’ size structure and the development of the region from both socio and economic views. We derive from the theory of diversification and prior empirical findings, and empirically test the role of companies’ size in regional development. We use a balanced dataset of 14 regions covering the years 2000 – 2016 that provides the information about regions’ socio-economic performance in terms of GDP and unemployment rate. We hypothesise that unemployment rate in the regions with higher share of small firms is less sensitive to the general trend of the whole economy. However, the higher share of small firms leads to improved regional GDP. Our findings confirm that small firms accelerate economic growth while playing a role of a social stabiliser in Czech regions. Our conclusions could help in designing the regional policy in the Czech Republic.

Family firm versus non-family firm: the role of resource orchestration in fast-growing high-tech SMEs

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Torbjörn Ljungkvist ◽  
Börje Boers ◽  
Jim Andersén
Keyword(s):  
Large Scale ◽  
Firm Growth ◽  
Family Firms ◽  
Family Firm ◽  
Comparative Case Study ◽  
High Tech ◽  
Content Type ◽  
Resource Orchestration ◽  
Paradoxical Growth

PurposeThis paper strives to understand the role of resource orchestration (RO) in the rapid growth of high-tech small and medium-sized enterprises (SMEs).Design/methodology/approachBased on a comparative case study, RO is compared between a high-tech family firm and a high-tech non-family firm. To capture the complexity of RO, this study applies a longitudinal approach using a large volume of archival and interview data gathered over ten years.FindingsThe configuration of family-firm paradoxical growth-oriented RO emphasizes RO based on collectivism and responsibility, although relying on large-scale conforming normative control. In contrast, the configuration of non-family-firm growth-oriented RO emphasizes administrative-based delegation and management-supported value creation.Originality/valueBy suggesting ownership-based RO configurations, this study provides insights into how ownership types, i.e. family firms and non-family firms, affect RO in firms operating in complex and dynamic environments. These configurations explain how and why RO is arranged in a growth context.

Importance–performance analysis approach to destination management

2020 ◽  
pp. 135481662090391
Author(s):  
Ida Rašovská ◽  
Marketa Kubickova ◽  
Kateřina Ryglová
Keyword(s):  
Czech Republic ◽  
Performance Analysis ◽  
Tourism Development ◽  
Future Research ◽  
Government Officials ◽  
Role Of Government ◽  
The Czech Republic ◽  
The Government ◽  
And Performance

The role of government in destination development is not a new topic; however, the way the government can impact tourism destination development is still under research. This study addresses such issues, specifically, striving to shed some light on the aspects of importance/performance as it relates to destination management. By understanding such relationships, government officials (at local and state levels) will be able to create specific policies/procedures that would facilitate tourism development. This study utilizes importance/performance methodology to analyze three types of regions (mountain, spa, and wine) in the Czech Republic. The results indicate that variations among the regions exist in terms of areas of importance and performance and point out opportunities for further improvements. Thorough discussions and implications for the industry are made along with suggestions for future research.

scholarly journals The Relationship Between Firm Size and Firm Growth: The Case of the Czech Republic

2015 ◽  
Vol 63 (5) ◽  
pp. 1639-1644 ◽  
Author(s):  
Roman Fiala ◽  
Veronika Hedija
Keyword(s):  
Czech Republic ◽  
Firm Size ◽  
Small Firms ◽  
Firm Growth ◽  
Autoregressive Process ◽  
The Czech Republic ◽  
Gibrat’S Law ◽  
First Order ◽  
Gibrat's Law ◽  
The Relationship

This paper deals with the investigation of the relationship between firm size and firm in the Czech Republic during 2007–2012. The study aims to examine to what extent the confirmation or rejection of Gibrat’s law depends on the indicator of firm size. For measuring firm size we use three indicators: revenues, number of employees and total assets. The study uses data collected from the database Albertina CZ Gold Edition. Final dataset includes the data about more than 35,000 firms. The validity of Gibrat’s law was tested with the help of linear regression model with first-order autoregressive process. Gibrat’s law is rejected for all three indicators of firm size. Hence, the selected indicator of firm size is not proved to be important factor in verification of Gibrat’s law validity. It is also found out that the small firms in profit industries (A-N according to CZ-NACE classification) grow faster than their larger counterparts in the Czech Republic.

Custom in the Islamic Legal Tradition

2015 ◽  
pp. 230-248
Author(s):  
Ayman Shabana
Keyword(s):  
Main Part ◽  
Islamic Law ◽  
Theory And Practice ◽  
Future Research ◽  
Legal Tradition ◽  
Legal Studies ◽  
Definition Of ◽  
Relationship Of ◽  
The Relationship

This article offers a survey of modern scholarship on the role of custom in the Islamic legal tradition. It begins with a definition of the concept of custom and also the relationship between the two Arabic terms used for custom, ‘urf and ‘ada. The relationship of custom to other terms such as sunna, ‘amal, and istihsan is also explored. The second, and main, part of the article traces the different approaches to the study of custom in Islamic legal studies and examines the development of these approaches. Four themes or debates are identified as the main contexts within which custom has been discussed: the origins of the Sunna of the Prophet and the early development of Islamic law; relationship between theory and practice; sources of Islamic law; and legal change. The article concludes with a summary and suggestions for future research.

scholarly journals Commentary: Blockholder Structures and Power Mechanisms in Family Firms

2017 ◽  
Vol 42 (2) ◽  
pp. 252-258 ◽  
Author(s):  
Gabriella Cacciotti ◽  
Deniz Ucbasaran
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Family Firm ◽  
Future Research ◽  
Potential Conflict ◽  
Voting Power ◽  
Multiple Generations ◽  
The Family ◽  
Distribution Of Resources ◽  
The Relationship

We extend the work of Fattoum-Guedri, Guedri, and Delmar (2018) by suggesting that the number of family blockholders moderates the relationship between the distribution of voting power between family and nonfamily blockholders and firm performance. Building on power and negotiation theories, we argue that the participation of multiple generations of family members in the firm’s ownership leads to greater diversity of perspectives that generates potential conflict over the distribution of resources. We highlight four power mechanisms—potential power, perceived power, power games, and realized power—to explain why family blockholders’ conflicting and/or misaligned preferences, objectives, and visions for the family firm might influence the nature of the negotiation between the family and the nonfamily blockholder and impact family firm performance. We offer directions for future research.

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