scholarly journals Private equity investors and family firms: The role of exit intentions and conflicts

2018 ◽  
Vol 15 ◽  
pp. 44-58 ◽  
Author(s):  
Felix Thiele ◽  
Sven Busse ◽  
Stefan Prigge
Keyword(s):  
Financial Markets ◽  
Private Equity ◽  
Family Firms ◽  
Conflicts Of Interest ◽  
Research Approach ◽  
Structured Interviews ◽  
The Family ◽  
Decision Alternative ◽  
Case Based

This study examines private equity minority investors’ exit from family firms and its consequences for owner families. The authors theoretically discuss potential conflicts that might influence the exit decision, alternative exit routes, and the intentions of the family owners to exit the business along with the private equity investors. Subsequently, the theoretical insights were tested empirically using a case-based research approach. Four private equity firms provided data on 14 cases of completed minority private equity investments from Germany. Semi-structured interviews with investment managers offered further information regarding the analysed cases. Empirical findings reveal that conflicts of interest over the exit of private equity minority investors only rarely arise. Moreover, differences between planned and applied exit routes are mainly caused by changes in the economic situation of the company and/or in the conditions of financial markets and are related to changes in family owners’ exit intentions.

scholarly journals Factors Affecting Women’s Intention to Lead Family Businesses in Mexico

2021 ◽  
Vol 10 (7) ◽  
pp. 251
Author(s):  
Jorge Duran-Encalada ◽  
Katarzyna Werner-Masters ◽  
Alberto Paucar-Caceres
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Leadership Role ◽  
Strategic Decision ◽  
Structured Interviews ◽  
Factors Affecting ◽  
Managerial Roles ◽  
The Family

The purpose of this study is to establish the prevalence of barriers to women’s leadership in the family business in terms of invisibility, the glass ceiling effect, and sexism. We conduct eight semi-structured interviews with women holding leading managerial roles in family businesses in Mexico to identify the factors that impede/facilitate their involvement. We apply the theory of planned behavior (TPB) in order to determine how these factors support/constrain women in their roles. We find that some factors and circumstances are critical for women to achieve an important leadership role in the family business. These factors entail levels of education and experience, the extent to which women participate in strategic decision making and governance of the firm, as well as the support of the company’s founder and other family members for these women’s efficacy and self-esteem. These results challenge some of the extant findings in the literature, thus enriching the current perspectives on the leadership role of women in family firms. Moreover, this research is the first attempt to analyze impediments to women under the TPB perspective as well as one of the few studies conducted on the topic in Latin America, specifically in Mexico.

Exploring the Role of Agile Operant Resources in the Facilitation of Strategic Orientation: The Case of Family-owned Businesses in Pakistan

2021 ◽  
pp. 097215092110534
Author(s):  
Mehreen Waheed Butt ◽  
Abdul Rashid Kausar ◽  
Yasir Rashid
Keyword(s):  
Significant Role ◽  
Family Firms ◽  
Business Owners ◽  
Strategic Orientation ◽  
Research Approach ◽  
Business World ◽  
Sustainable Performance ◽  
The Family ◽  
Operant Resources

Purpose: No one can deny the pertinent role of resources in each era. Over time, its usefulness enhances, which facilitates firm sustainability in today’s volatile business world. To the best of the author’s knowledge, no study has been done specifically in the context of Family-Owned Businesses (FOBs) in Pakistan regarding the owner’s ability to possess agile operant resources. The purpose of this study is to explore the hidden agile operant resources of the family business owners which facilitate FOBs in strategic orientation. Design/Methodology/Approach: This study resides in a relativistic school of thought based on the interpretive paradigm. It is used as an exemplar of the nature of research. Purposive sampling is used for data collection. Interviews were conducted through open-ended questionnaires and observation of family owners. This study is based on the abductive research approach, which along with Gioia methodology, has been used to develop broader themes for discussion. Findings: This research article provides sound conceptual insights on the strategic orientation of family firms through the pertinent role of learning and observational resources, agile entrepreneurial phronesis and agile sensing skills. The authors proposed a conceptual model for shedding light on the pertinent role of agile operant resource supports to facilitate the strategic orientation of FOBs. Practical implications: This study proposes a framework for FOBs operating in Pakistan by providing novel insights for establishing sustainable firm performance by indicating the pertinence of agile operant resources. FOBs may adopt these agile operant resources to ensure firm strategic orientation in today’s dynamic business world. It also opens new avenues of innovation and growth for FOBs by determining the primitive, significant role of individual FOB owners operant resources. This study can apply to all FOBs. Originality value: In this research, the authors have discussed the iterative themes interactions and their significant role in the context of family firms to understand how learning and observational resources, agile sensing skills and agile entrepreneurial phronesis strengthen firm strategic orientation that drives firm sustainable performance in today’s competitive business world. As Pakistan, like other Asian countries, is considered fertile land for family businesses, such studies can enrich insights through surfacing the FOB owner-possessed resources-based framework and how it supports catering to effective strategic orientation.

Making gender visible in family business: past and present

2012 ◽  
Vol 13 (1) ◽  
Author(s):  
Paloma Fernández Pérez ◽  
Eleanor Hamilton
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Business Leadership ◽  
Legal Rules ◽  
Developed Economies ◽  
The Family ◽  
Interdisciplinary Synthesis ◽  
Complex Forms ◽  
Rules Of The Game

This  study  contributes  to  developing  our understanding of gender and family business. It draws on studies from the business history and management literatures and provides an interdisciplinary synthesis. It illuminates the role of women and their participation in the entrepreneurial practices of the family and the business. Leadership is introduced as a concept to examine the roles of women and men in family firms, arguing that concepts used  by  historians or economists like ownership and management have served to make women ‘invisible’, at least in western developed economies in which owners and managers have been historically due to legal rules  of  the  game  men,  and  minoritarily women. Finally, it explores gender relations and  the  notion  that  leadership  in  family business  may  take  complex  forms  crafte within constantly changing relationships.

scholarly journals RELIGIOSITY AND CONSUMER BEHAVIOR: A STUDY OF CONSUMPTION PATTERNS FOR ALCOHOLIC AND NON-ALCOHOLIC BEVERAGES AMONG ANIMIST, CHRISTIAN AND MUSLIM CONSUMERS IN THE CONTEXT OF GHANA

2020 ◽  
Vol 2 (4) ◽  
pp. 244-261
Author(s):  
Dr. Théophile Bindeouè Nassè ◽  
Naab Francis Xavier ◽  
Bismark Boateng ◽  
Nicolas Carbonell ◽  
Justice Agyei Ampofo ◽  
...  
Keyword(s):  
Consumer Behavior ◽  
Qualitative Data ◽  
Alcoholic Beverages ◽  
Research Approach ◽  
Structured Interviews ◽  
Production And Consumption ◽  
The Social ◽  
And Behavior ◽  
Voice Recorder

Researchers' interest in consumer religiosity and behavior is explained by the fact that religion influences not only the social behavior of individuals, but also their consumption behavior. Most of the studies on the subject come from Western and Asian countries with a few of such studies been conducted in Africa and particularly in Ghana. The aim of this paper is to explore the concepts of religiosity and consumer behavior in Ghana, in order to consider the role of culture in the management and marketing of industrial products. Ghana is a country where religion plays an important role in shaping lives and ensuring community cohesion. However, a determined part of the believers contributes to increasing the consumption of industrial beverages, and the obliviousness in the marketing sector also seems to be a barrier that slows the production and consumption of non-alcoholic industrial beverages. The research approach is exploratory and qualitative. The collection of qualitative data is done with the aid of a SONY voice recorder through some semi-structured interviews. Then, the qualitative data are transcribed manually and verbatim analyzed. The results show that in the context of Ghana, religiosity of believers affects the behavior of the consumer and that consumer behavior towards non-alcoholic industrial beverages affects religiosity. Keywords: Religiosity, Consumer Behavior, Industrial Beverages, Consumption, Marketing, Ghana.

The Formation of Postsecondary Expectations Among Parents of Youth With Autism Spectrum Disorder

2019 ◽  
Vol 35 (2) ◽  
pp. 118-128 ◽  
Author(s):  
Anne V. Kirby ◽  
Nancy Bagatell ◽  
Grace T. Baranek
Keyword(s):  
Autism Spectrum Disorder ◽  
Transition To Adulthood ◽  
Autism Spectrum ◽  
Parent Expectations ◽  
Spectrum Disorder ◽  
Future Research ◽  
Structured Interviews ◽  
The Family ◽  
Postsecondary Expectations

Research suggests higher parent expectations can predict more independent outcomes of youth with autism spectrum disorder (ASD), yet little is known about how parents’ expectations are formed. To gain an understanding of their formation, we conducted semi-structured interviews with seven parents of adolescents with ASD. Three main types of influences on parent expectations were identified: factors related to the youth, to the parent, and to social and societal forces external to the family. Although not directly probed, all of the participants also discussed their approaches to planning for the future, suggesting a connection with their expectations. These findings contribute to a growing body of literature on the role of parent expectations during the transition to adulthood. Future research and clinical practice implications include designing interventions aimed at expanding parent expectations in addition to approaches directly preparing youth with ASD for adulthood as a means to improve outcomes.

Family Firms and the Choice Between Wholly Owned Subsidiaries and Joint Ventures: A Transaction Costs Perspective

2018 ◽  
Vol 44 (2) ◽  
pp. 211-232 ◽  
Author(s):  
Maria Cristina Sestu ◽  
Antonio Majocchi
Keyword(s):  
Transaction Costs ◽  
Family Involvement ◽  
Family Firms ◽  
Joint Venture ◽  
Entry Modes ◽  
Family Control ◽  
The Family ◽  
Wholly Owned Subsidiary ◽  
Transaction Costs Economics

We examine the effects of family control on entry mode choice by integrating Transaction Costs Economics with the family business literature. Using a dataset of 951 foreign investments, we investigate the role of family involvement on entry modes. After controlling for endogeneity, we find that if both the investing and the local firm are family firms, forming a joint venture is preferred, while if only the investing firm is a family firm, a wholly owned subsidiary is more likely. Results show that family control has an important impact on entry modes, an hypothesis that has not yet been fully explored.

scholarly journals The advisory role of non-family board members: a case-based study of a family firm

2019 ◽  
Vol 24 (4) ◽  
pp. 871-903 ◽  
Author(s):  
Hanna Maria Sievinen ◽  
Tuuli Ikäheimonen ◽  
Timo Pihkala
Keyword(s):  
Nordic Country ◽  
Family Firm ◽  
Board Members ◽  
Strategic Renewal ◽  
Board Processes ◽  
The Family ◽  
Firm Owners ◽  
Case Based ◽  
Advisory Role

AbstractThe objective of this case-based study is to provide insights into the advisory role of non-family board members in a family firm attempting strategic renewal. By studying the non-family board members of a family firm in a Nordic country, we suggest that non-family board members’ advisory role evolves in a dynamic way. We show at the micro-level how the role, content, intensity, and locus of advice change and how it can be both inertia- and stress-inducing. This facilitates the renewal and hence a firm’s capacity to improve its alignment with changing external demands. We highlight the collaborative nature of the advisory role and the importance of the non-family member chair in ensuring effective board processes. Through our research we contribute to the understanding on the contextual nature of the board roles and tasks and on family firm renewals. We provide insights into how the family firm owners and the chair of the board can enhance the prospects that the non-family board members create value through their advisory role.

scholarly journals Family Involvement in the Firm and Exports in the Family SME: Is the Manager’s International Orientation Influential?

2015 ◽  
Vol 7 (3) ◽  
pp. 69-99 ◽  
Author(s):  
Sami Basly
Keyword(s):  
Family Involvement ◽  
Family Firms ◽  
Positive Influence ◽  
International Orientation ◽  
The Family ◽  
Sample Data ◽  
Family Smes ◽  
Family Involvement In Management ◽  
The Relationship

AbstractDoes the family involvement affect exports in the family firm? The literature seems to support this view even if the direction and magnitude of this impact remains controversial. Drawing on the perspectives of agency [Chrisman et al. 2004; Schulze et al. 2001] and stewardship as applied to family firms [Davis, Schoorman and Donaldson 1997] and also on socio-emotional wealth perspective [Gómez-Mejía et al. 2007], this study seeks to contribute to this debate by studying the influence of family involvement on the SME exports intensity. To reconcile the divergent views, our research attempts to assess the role of the manager’s international orientation as a variable moderating the relationship between family involvement and exports in SMEs. Based on a hypothetical-deductive approach, the study uses a sample data of 125 family SMEs obtained through a questionnaire. The results show that even if the positive influence of the manager’s international orientation is corroborated, its moderating role seems to be limited to only one facet of the construct of family involvement i.e. involvement in management. Moreover, owning-family involvement in management seems to negatively influence exports while some results argue for a positive effect of the family involvement in ownership on exports.

scholarly journals Women's social space and the reference for breastfeeding practice

2007 ◽  
Vol 15 (2) ◽  
pp. 230-238 ◽  
Author(s):  
Ana Márcia Spanó Nakano ◽  
Márcia Cristina Guerreiro dos Reis ◽  
Maria José Bistafa Pereira ◽  
Flávia Azevedo Gomes
Keyword(s):  
Social Space ◽  
Study Data ◽  
Multiple Roles ◽  
Family Context ◽  
Care Model ◽  
Structured Interviews ◽  
The Social ◽  
The Family ◽  
Breastfeeding Practice

This study aimed to identify agents or institutions taken as reference by women when breastfeeding. A qualitative study was carried out on 20 primiparous who were assisted, for reasons not related to breastfeeding, in the five health services selected by this study. Data were collected by semi-structured interviews carried out in the participants' households and were analyzed by content analysis in the thematic mode. We identified that health professionals play a standardize role of breastfeeding based on scientific knowledge. In the daily breastfeeding routine, the family is the first reference for women, transmitting beliefs, habits and behaviors. We believe in the valorization of the family context by the health professional, in which actions and interactions in the breastfeeding issue are developed in order to constitute the foundations for a new care model in breastfeeding. This model should, therefore, consider the practice diversity, adapting actions to the multiple roles of being mother/fortress/wife/worker in the social context.

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