Corporate Governance and Financial Features of Portuguese Family Firms

2022 ◽  
pp. 444-465
Author(s):  
Inna Sousa Paiva
Keyword(s):  
Corporate Governance ◽  
Economic Development ◽  
Venture Capital ◽  
Financial Development ◽  
Family Firms ◽  
Family Influence ◽  
Business Growth ◽  
Family Identity ◽  
The Family

This study analyses whether corporate governance and financial features of private family firms are different from private non-family firms and discusses the role of private family firms in regional economic development. The evidence is drawn from a database of Portuguese private family owner-managed firms in order to determine the differences in the management and experiences of venture capital and other financing options. The main results demonstrated that family firms have significantly lower ratios of leverage, are less interested in venture capital, have much more experience in management and are less likely to be female than those in non-family firms. Our results indicate that the financial development of Portuguese private family firms is also consistent with the moderate tenet of family firms which could hamper their business growth and demonstrate that corporate governance features assist the family identity and the ability to exert family influence.

Corporate Governance and Financial Features of Portuguese Family Firms

2020 ◽  
Vol 5 (1) ◽  
pp. 1-19
Author(s):  
Inna Sousa Paiva
Keyword(s):  
Corporate Governance ◽  
Economic Development ◽  
Venture Capital ◽  
Financial Development ◽  
Family Firms ◽  
Family Influence ◽  
Business Growth ◽  
Family Identity ◽  
The Family

This study analyses whether corporate governance and financial features of private family firms are different from private non-family firms and discusses the role of private family firms in regional economic development. The evidence is drawn from a database of Portuguese private family owner-managed firms in order to determine the differences in the management and experiences of venture capital and other financing options. The main results demonstrated that family firms have significantly lower ratios of leverage, are less interested in venture capital, have much more experience in management and are less likely to be female than those in non-family firms. Our results indicate that the financial development of Portuguese private family firms is also consistent with the moderate tenet of family firms which could hamper their business growth and demonstrate that corporate governance features assist the family identity and the ability to exert family influence.

scholarly journals The role of corporate governance in the relationships of family company with real earnings management

2018 ◽  
Vol 22 (1) ◽  
Author(s):  
Indah Masri
Keyword(s):  
Corporate Governance ◽  
Earnings Management ◽  
Family Firms ◽  
Stock Exchange ◽  
Real Earnings Management ◽  
Manufacturing Companies ◽  
Performance Impact ◽  
The Family ◽  
Negative Effect

The purpose of this research was to determine the effect of family ownership on real earnings management with corporate governance as a moderation variable in this relationship. This research is also looking at the role of accrual earnings management as a substitute in the relationship accrual earnings management with real earnings management in a family company. This study uses data 61 manufacturing companies on the Indonesia Stock Exchange in the period 2010 to 2013. The research results according to which hypothesized that family firms tend to negatively affect with real earnings management. The role of corporate governance as strengthening internal oversight negative effect on family companies with real earnings management. The results also proved the existence of a relationship of substitution for family firms tend to be doing accrual earnings management than real earnings management. This is because on the one hand the motivation of control as a strong incentive to do accrual earnings management in the family company, while on the other hand, the family companies tend to dislike real earnings management for their negative performance impact.

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.

Understanding Entrepreneurial Ecosystem

2019 ◽  
Vol 10 (3) ◽  
pp. 103-115 ◽  
Author(s):  
Sachin A Meshram ◽  
A. M. Rawani
Keyword(s):  
Economic Development ◽  
High Growth ◽  
Knowledge Generation ◽  
Business Growth ◽  
Entrepreneurial Ecosystem ◽  
Research Directions ◽  
Entrepreneurial Ecosystems ◽  
Policy Debates ◽  
Small Business Growth

Entrepreneurial ecosystems are a strategy that is designed to nurture economic development by promoting entrepreneurship, small business growth, and innovation. Ecosystems represent a new direction for entrepreneurship research that simultaneously increases knowledge of the complex contextual environments surrounding the entrepreneurship process, while at the same time providing useful contributions to policy debates around the role of high-growth entrepreneurship as a driver of regional economic development. This article reviews the concept evolution; different definitions and factors of entrepreneurial ecosystems. Additionally, it provides approaches of past contributions about entrepreneurial ecosystem. This article contributes to knowledge generation and provides further research directions. This study is an attempt to cover the different articles that exist on the entrepreneurial ecosystems.

Calibrating management control technologies and the dual identity of family firms

2017 ◽  
Vol 14 (2) ◽  
pp. 157-188 ◽  
Author(s):  
Tarek El Masri ◽  
Matthäus Tekathen ◽  
Michel Magnan ◽  
Emilio Boulianne
Keyword(s):  
Family Firms ◽  
Management Control ◽  
Mental Maps ◽  
Family Identity ◽  
Content Type ◽  
Empirical Level ◽  
The Family ◽  
Management Controls ◽  
Dual Identities ◽  
Control Technologies

Purpose Family firms possess dual identities, being the family and the business, which can be segmented and integrated to various degrees. This study examines whether and how management control technologies are calibrated to fit into the dual identities of family firms. Design/methodology/approach A qualitative study of 20 family firms was conducted using semi-structured, in-depth interviews with owner-managers, drawings of mental maps and publicly available information. The notion of calibration was developed and used, with its three components of graduation, purpose and reference, as an organizing device for the interpretive understanding of the management control usage and its relation to family firms’ dual identities. Findings The study finds that the use of calculative, family-centric and procedural management controls – in sum the pervasive use of management control technologies – are associated with a professionalization of the family firm, a foregrounding of the business identity and a reduction of the disadvantageous side of familiness. In comparison, the pragmatic and minimal use of management control technologies are found to be associated with an emphasis on family identity. It transpires as liberating, engendering trust and unfolding a familial environment. Research limitations/implications Because results are derived from a qualitative approach, they are not generalizable at an empirical level. By showing how the use of management control technologies is calibrated with reference to family firms’ dual identities, the paper reveals the perceived potency of control technologies to affect the identity of firms. Practical implications The study reveals how family firms perceive management control technologies as strengthening their business identity while weakening their family identity. Thereby, this study provides an account of how management control technologies are expected to change the identity of firms. Originality/value This paper contributes to the management control and family business literatures because it uncovers how management control technologies are calibrated in reference to family firms’ dual identities. It shows that calculative, family-centric and procedural management controls are used to professionalize the firm and strengthen its business identity as well as to reduce the negative effects of the family identity. The paper also illustrates how the liberating force of using pragmatic and minimal control technologies can serve to give prominence to the family identity.

SOCIAL INSTITUTIONS AND THEIR IMPACT ON THE CYCLICAL DEVELOPMENT OF THE ECONOMY

2021 ◽  
Vol 16 (4) ◽  
pp. 133-147
Author(s):  
I.R. LYAPINA ◽  
◽  
T.A. ZHURAVLEVA ◽  
I.V. SKOBLIAKOVA ◽  
◽  
...  
Keyword(s):  
Economic Development ◽  
Social Relations ◽  
Social Institutions ◽  
Economic Benefits ◽  
Regulatory Processes ◽  
The Family ◽  
Production And Distribution ◽  
Optimization Mechanism ◽  
Theoretical Foundations

The purpose of the research is to study of the features of the influence of social institutions on the cyclicality and dynamics of economic development in the context of identifying the role of social institutions at individual phases of the cycle of economic development, as well as consideration of the functions and tools of social institutions by phases of economic development. The subject of the research is a set of roles, functions and tools of social institutions related to different phases of the cycle of economic development. The methodological base is formed for the implementation of scientific research tasks. Its tools are methods that allow reflecting the features of the influence of social institutions on the cyclical nature of the economy: the method of theoretical foundations, the method of grouping, the method of analysis, the method of comparison, the method of implication. As a result of the study, it is indicated that the functions of social institutions should be highlighted: the consolidation of emerging social relations, adaptation, regulatory processes, a communication basis and a translational basis. The instruments that influence economic fluctuations are formed in the context of social institutions. Thus, the institution of the family is characterized by the use of an optimization mechanism, the concept of sustainability of social relations, the concept of production and distribution of economic benefits in order to meet the needs of each of the subjects.

Strategic Behavior in Family Firms

2022 ◽  
pp. 974-996
Author(s):  
Ismael Barros ◽  
Juan Hernangómez ◽  
Natalia Martín Cruz
Keyword(s):  
Knowledge Management ◽  
Strategic Behavior ◽  
Family Firms ◽  
Family Influence ◽  
Organizational Routines ◽  
Business Operations ◽  
Management Processes ◽  
The Family ◽  
Prior Literature ◽  
The Relationship

Previous research emphasizes that the participation of the family in business operations is the source of resources and capabilities that conditions the strategic behavior of the family firm. This influence has been recognized as “familiness.” However, this definition is contextualized from static reasoning that ignores the effect of family dynamics on the behavior and value generation of the family-owned business. Prior literature has recognized that the family influence has a dynamic character based on the idiosyncratic process of knowledge management that manifests itself in the company, dynamic familiness. This family capability is shaped by family organizational routines through the family influence and aims to increase its knowledge portfolios for the strategic use of its resources. This chapter addresses the relationship between family influence and the process of learning and knowledge management. The analysis of this relationship allows assessing how family influence can promote the generation of family organizational routines based on knowledge management processes.

scholarly journals Corporate governance practices in brazilian family construction companies

DYNA ◽  
2019 ◽  
Vol 86 (209) ◽  
pp. 281-288
Author(s):  
Rayza Mirelle Francelino Nicácio ◽  
João Alberto Neves dos Santos ◽  
Carlos Alberto Pereira Soares ◽  
Wainer Da Silveira e Silva
Keyword(s):  
Corporate Governance ◽  
Construction Industry ◽  
Family Influence ◽  
Construction Companies ◽  
Goods And Services ◽  
The Family ◽  
Governance Practices ◽  
Governance Models

InBrazil, family construction companies provide a significant share of goods and services in the construction industry. To protect themselves against fraud, crises and problems inherent to family organizations, these corporations need to implement at least basic corporate governance recommendations. This study evaluates the practices suggested by the Brazilian Institute of Corporate Governance (IBGC) based on a survey of 33 organizations. Our results indicate that construction companies in the country start their governance models by standardizing and professionalizing their business; however, they only start considering the family influence in later stages. The average scores obtained for the recommendations investigated suggest poor implementation of corporate governance practices in Brazilian family construction companies.

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