Emergence of Familiness and Family Owned Business Performance

2022 ◽  
pp. 959-973
Author(s):  
Nay Zar Aung ◽  
Youji Kohda
Keyword(s):  
Business Performance ◽  
Family Resources ◽  
Governance System ◽  
Internal Governance ◽  
Resource Based View ◽  
Empirical Results ◽  
Family Attitudes ◽  
Governance Systems ◽  
Two Factors ◽  
Family Unity

This article explores the concept of familiness in family-owned businesses (FOBs), identifying how families generate their own resources for business performance. Applying the resource-based view, the authors examined seven Myanmar businesses. Findings revealed that two factors influence familiness in Myanmar FOB: family unity and internal governance systems, which can be subdivided into traditional and collective systems. Moreover, evaluation revealed that FOB's business performance was affected by different family attitudes. A combination of family unity and a traditional internal governance system was conducive to controlling the internal business capabilities, whereas creating external opportunities were considered more effective for a combination of family unity and a collective internal governance system. Findings suggest that familiness emerges through embedded family resources that incorporates a sense of awareness with abilities for business advantages. These empirical results can provide insights and inputs that can help small and medium-sized FOBs safeguard their future.

Emergence of Familiness and Family Owned Business Performance

2019 ◽  
Vol 10 (3) ◽  
pp. 61-73 ◽  
Author(s):  
Nay Zar Aung ◽  
Youji Kohda
Keyword(s):  
Business Performance ◽  
Family Resources ◽  
Governance System ◽  
Internal Governance ◽  
Resource Based View ◽  
Empirical Results ◽  
Family Attitudes ◽  
Governance Systems ◽  
Two Factors ◽  
Family Unity

This article explores the concept of familiness in family-owned businesses (FOBs), identifying how families generate their own resources for business performance. Applying the resource-based view, the authors examined seven Myanmar businesses. Findings revealed that two factors influence familiness in Myanmar FOB: family unity and internal governance systems, which can be subdivided into traditional and collective systems. Moreover, evaluation revealed that FOB's business performance was affected by different family attitudes. A combination of family unity and a traditional internal governance system was conducive to controlling the internal business capabilities, whereas creating external opportunities were considered more effective for a combination of family unity and a collective internal governance system. Findings suggest that familiness emerges through embedded family resources that incorporates a sense of awareness with abilities for business advantages. These empirical results can provide insights and inputs that can help small and medium-sized FOBs safeguard their future.

scholarly journals Conceptual framework for increasing legitimacy and trust of sustainability governance

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Inge Stupak ◽  
Maha Mansoor ◽  
C. Tattersall Smith
Keyword(s):  
Good Governance ◽  
Policy Recommendations ◽  
Economic Activities ◽  
Governance System ◽  
Governance Model ◽  
Governance Systems ◽  
Sustainability Governance ◽  
Sustainable Societies ◽  
Key Terms

AbstractWhile the quantity of sustainability governance initiatives and systems has increased dramatically, crises persist over whether specific governance systems can be trusted as legitimate regulators of the sustainability of economic activities. This paper focuses on conceptual tools to improve our understanding of these crises as well as the facilitating factors and barriers for sustainability governance to play a role in transitioning to profoundly more sustainable societies than those that currently exist. Bioenergy is used throughout the paper as an example to aid contextually in understanding the theoretical and abstract arguments. We first define eight premises upon which our argumentation is developed. We then define sustainability, sustainability transition, legitimacy, and trust as a premise for obtaining effectiveness in communication and minimising risks associated with misunderstanding key terms. We proceed to examine the literature on “good governance” in order to reflect upon what defines "good sustainability governance" and what makes governance systems successful in achieving their goals. We propose input, output, and throughput legitimacy as three principles constituting “good” sustainability governance and propose associated open-ended criteria as a basis for developing operational standards for assessing the quality of a sustainability governance system or complex. As sustainability governance systems must develop to remain relevant, we also suggest an adaptive governance model, where continuous re-evaluation of the sustainability governance system design supports the system in remaining “good” in conditions that are complex and dynamic. Finally, we pull from the literature in a broad range of sciences to propose a conceptual “governance research framework” that aims to facilitate an integrated understanding of how the design of sustainability governance systems influences the legitimacy and trust granted to them by relevant actors. The framework is intended to enhance the adaptive features of sustainability governance systems so as to allow the identification of the causes of existing and emerging sustainability governance crises and finding solutions to them. Knowledge generated from its use may form a basis for providing policy recommendations on how to practically solve complex legitimacy and trust crises related to sustainability governance.

scholarly journals COMPLIANCE OF CORPORATE GOVERNANCE IN BOSNIA AND HERZEGOVINA WITH EUROPEAN UNION STANDARDS

2018 ◽  
pp. 340-355
Keyword(s):  
European Union ◽  
Corporate Governance ◽  
Bosnia And Herzegovina ◽  
Legal Framework ◽  
Regulatory Framework ◽  
Quality Level ◽  
The European Union ◽  
Governance System ◽  
Governance Systems ◽  
Principles And Standards

Corporate governance provides an answer to the question who controls the corporation and how. It involves a set of relationships between management, shareholders and stakeholders. Corporate governance in Bosnia and Herzegovina is within the legal jurisdiction of entities, and consequently there are two substantially aligned and yet completely distinct corporate governance systems, which separates Bosnia and Herzegovina as a state in the international environment into a specific category in terms of corporate governance. This paper will analyze ownership concentration in order to identify the characteristics of the corporate governance systems, then it will present the principles on which the legal framework for corporate governance in Bosnia and Herzegovina is defined, compare the business transparency standards with the transparency directive in the EU, and measure the quality level of corporate governance in order to define key areas for improvement of corporate governance in Bosnia and Herzegovina. The development and characteristics of the corporate governance systems in Bosnia and Herzegovina will be explored and compared with the regulatory framework and standards of corporate governance in the European Union. Special emphasis is on comparing the transparency principles and standards of corporations in Bosnia and Herzegovina with corporations in the European Union. The aim of the research is to compare the regulatory framework and characteristics of the corporate governance system in corporations in Bosnia and Herzegovina with the standards in the European Union, to identify similarities and differences and to define key areas for improvement of corporate governance in Bosnia and Herzegovina.

scholarly journals Production performance and business analysis of clown loach Chromobotia macracanthus (Bleeker 1852) in recirculating systems with different stocking densities and water discharge

2021 ◽  
Vol 21 (2) ◽  
pp. 89-104
Author(s):  
Riska Puluhulawa ◽  
Tatag Budiardi ◽  
Iis Diatin ◽  
Irzal Effendi
Keyword(s):  
Water Quality ◽  
Growth Rate ◽  
Business Performance ◽  
Water Discharge ◽  
Stocking Density ◽  
Production Performance ◽  
Recirculate Aquaculture System ◽  
Randomized Design ◽  
Two Factors ◽  
Absolute Growth

Efforts to improve the production performance of clown loach in recirculate aquaculture system can be done by increasing stocking density and water discharge. This study aimed to analyze the effect of increasing stocking density and water discharge on production performance, stress response and water quality in order to obtain the best stocking density and water discharge to obtain maximum profit in a short time. A factorial completely randomized design with two factors, i.e. the stocking density of 1, 2, and 3 fish L-1 and the water discharge of 0,05; 0,10; 0,15 L s-1 was performed. The volume of water used in each aquarium was 48 L and using a ½ inch faucet stop to regulate the water discharge from the inlet pipe. Clown fish fed Tubifex sp. with a feeding frequency of two times a day according to the treatment for 60 days. The result indicates that there was no interaction between the two factors on production performance, payback period, and R/C ratio. Stocking density has a significant effect on specific growth rate, absolute growth rate of individual weight, feeding consumption rate and R/C ratio of clown loach. Stocking density and water discharge had an interaction on the visual color of pectoral and caudal fins of clown loach. Different stocking densities with the combination of water discharge in this study resulted that the water quality were within tolerable range for clown loach so that they did not experience stress, as well as high production and business performance. It is recommended to intensify clown loach with a stocking density of 3 fish L-1 and 0,15 L s-1‑ of water discharge.

scholarly journals 7.6. Use of marketing tools in strategic planning and controlling the sales activities of an oil company

2021 ◽  
pp. 171-177
Author(s):  
Т.Б. Лейберт ◽  
Э.А. Халикова ◽  
S.V. Davletova
Keyword(s):  
Strategic Planning ◽  
Development Strategy ◽  
Business Performance ◽  
Governance System ◽  
Business Goals ◽  
Controlling System ◽  
Corporate Governance System ◽  
Strategic Goals ◽  
The Right ◽  
Oil Company

Одним из важных аспектов в системе корпоративного управления вертикально-интегрированной нефтяной компании (ВИНК) является система стратегического планирования и контроллинга, основанная на целеполагании, выборе стратегических инициатив и ключевых целей бизнеса, ключевых показателей эффективности бизнеса. При этом необходимо понимать, что формирование стратегии развития бизнеса на долгосрочную перспективу в нефтяной компании невозможно без учета маркетинга, выступающего в качестве инструментария и информационной среды для обоснования и правильного выбора стратегических целей, а также для составления стратегического плана и организации его контроля. One of the important aspects in the corporate governance system of a vertically integrated oil company is the strategic planning and controlling system based on goal setting, the choice of strategic initiatives and key business goals, and key business performance indicators. At the same time, it is necessary to understand that the formation of a business development strategy for the long term in an oil company is not possible without taking into account marketing, which acts as a toolkit and information environment for justifying and choosing the right strategic goals, as well as for drawing up a strategic plan and organizing its control.

The effect of borrower country financial system and corporate governance system types on the spread of syndicated loans

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nuno Moutinho ◽  
Carlos Francisco Alves ◽  
Francisco Martins
Keyword(s):  
Corporate Governance ◽  
Governance System ◽  
Financial Systems ◽  
Content Type ◽  
Financial Firms ◽  
Governance Systems ◽  
Corporate Governance System ◽  
Lower Interest Rate ◽  
Loan Spreads ◽  
The Cost

Purpose This study aims to analyse the effect of borrower’s countries on syndicated loan spreads, featuring countries according to institutional factors, namely, financial systems and corporate governance systems. Design/methodology/approach This study is an empirical investigation based on a unique sample of more than 85,000 syndicated loans from 122 countries. The paper uses standard and two-stage least squares regression analysis to test whether the types of financial and corporate governance systems affect loan spreads. Findings The paper finds that borrowers from countries with financial systems oriented towards the banking-based paradigm pay lower interest rate spreads than those from countries with financial systems oriented towards the market-based paradigm. In addition, there is evidence that borrowers from countries with more developed financial systems pay lower spreads. The results also show that borrowers from countries with an Anglo-Saxon governance system pay higher spreads than borrowers from countries with a Continental governance system. Research limitations/implications This study does not consider potential promiscuous relationships that can arise at the ownership structure and governance level between banks and borrowers and may affect loan spreads. Practical implications This study suggests that financial and corporate governance systems are essential factors in the financial intermediation process. Furthermore, the evidence indicates that corporates with higher potential agency costs and higher potential information asymmetry are requested to pay higher spreads. Therefore, the opportunities to such corporates invest optimally tend to be scarcer. Originality/value The paper highlights the impact of institutional factors on the cost of financing, characterising the countries according to the type of financial system and the type of corporate governance system. The study finds that borrowers from countries with bank-based financial systems pay lower interest rate spreads than those from countries with market-based financial systems. The paper also highlights how the level of financial development affects the cost of financing. The paper focusses on non-financial firms, unlike financial firms, which have been the focus of several empirical studies on topics relating to the cost of funding and corporate governance.

Capacity Development Initiatives for Grass Roots Communities

2013 ◽  
pp. 69-104 ◽  
Author(s):  
Hakikur Rahman
Keyword(s):  
Human Development ◽  
Capacity Development ◽  
Information And Communications Technologies ◽  
Governance System ◽  
Grass Roots ◽  
Leading Role ◽  
Governance Systems ◽  
The World ◽  
Development Initiatives ◽  
National Economies

The world has seen the unprecedented development of information and communications technologies (ICTs) and adoption of their diversified methods in elevating all forms of human endeavors. Even a few years back, it was fashionable to speak about the global village. In recent years, many countries have taken leading role in implementing innovative ICT products to accelerate their national developments, enhance their livelihoods, strengthened their national economies, and improve their governance systems. This has been observed that those countries could reap the most benefits out of ICT strategies, which could penetrate at the lowest tier of their governance system. In this context, human development is an element of importance. This research emphasizes that cumulative human development through community approach would be the next level of knowledge dynamics across the world. It also argues that as much the country provides thrust on capacity development initiatives at the grass roots, it has more opportunity to reach at greater context of governance system. This chapter would like to focus on two cases, which penetrated the grass roots reaching out to the community level, act as catalyst to strengthen their national economy and government. Some features and perspectives of e-Sri Lanka and e-Korea are being discussed here to provide insight into these cases, so that researchers in developing and transitional economies could gain knowledge.

Corporate Governance-Systeme und Unternehmensfinanzierung - Empirische Befunde für deutsche Großunternehmen / Corporate Governance-Systems and Corporate Financing – Empirical Evidence for large corporations in Germany

ORDO ◽  
2013 ◽  
Vol 64 (1) ◽  
Author(s):  
Elmar Gerum ◽  
Sascha H. Mölls
Keyword(s):  
Corporate Governance ◽  
Empirical Evidence ◽  
Sich Eine ◽  
Governance System ◽  
Corporate Financing ◽  
Governance Systems ◽  
Corporate Governance System ◽  
Large Corporations

ZusammenfassungDas Ziel des Beitrages ist es zu prüfen, ob und inwieweit sich das deutsche Corporate Governance-System, insbesondere die Unternehmensfinanzierung, im Zuge des Systemwettbewerbs an internationale Standards angeglichen hat. Dazu wird das deutsche System zunächst im Kontext alternativer Corporate Governance-Systeme verortet. Danach werden empirische Befunde zur Struktur der Unternehmensfinanzierung sowie flankierender Institutionen in deutschen Großunternehmen präsentiert und erklärt. Es zeigt sich, dass heute eine effiziente Mischfinanzierung typisch ist, die die traditionellen Vorteile einer Bankenfinanzierung mit den Möglichkeiten des Kapitalmarkts kombiniert. Im Lichte der Befunde empfiehlt sich eine Neuorientierung von Forschung und Politik zu Corporate Governance.

scholarly journals The Logic behind the Internal Governance of Sweden’s Largest Agricultural Cooperatives

2020 ◽  
Vol 12 (21) ◽  
pp. 9073
Author(s):  
Karin Hakelius ◽  
Jerker Nilsson
Keyword(s):  
Boards Of Directors ◽  
Governance Structure ◽  
Equity Capital ◽  
Agricultural Cooperatives ◽  
Governance System ◽  
Internal Governance ◽  
Market Rate ◽  
Business Operations ◽  
Tentative Explanation ◽  
The Individual

This study comprises a qualitative analysis of the governance structures within the two largest agricultural cooperatives in Sweden, both of which have large and heterogeneous memberships, as well as sizeable and complex business operations. Interviews were conducted with district council members and representatives from the boards of directors. The data from both case cooperatives indicate a genuinely traditional democratic member governance structure. There is a great deal of social capital in the governance system. A tentative explanation of the member involvement is that the cooperatives’ equity capital is owned by the individual members, and the members are free to sell and buy their shares at a market rate. The members are satisfied with the return on the capital they have invested in the cooperatives. They receive bonus shares and dividends above what most members would get in other investments. A conclusion is that very large cooperatives may succeed well with a member-democratic governance system of the traditional cooperative type, which in this case is probably due to the members’ satisfaction with the individualized ownership of the cooperatives.

scholarly journals THE HARMONIZED EFFECTS OF GENERIC STRATEGIES AND BUSINESS CAPABILITIES ON BUSINESS PERFORMANCE

2010 ◽  
Vol 11 (4) ◽  
pp. 689-711 ◽  
Author(s):  
Avni Zafer Acar ◽  
Cemal Zehir
Keyword(s):  
Information System ◽  
Business Strategy ◽  
Business Performance ◽  
Manufacturing Firms ◽  
Positioning Theory ◽  
Research Model ◽  
Main Subject ◽  
Resource Based View ◽  
Key Variables ◽  
Generic Strategies

Resource‐based view and the positioning theory are the two main approaches which are considered as contrary to each other in order to achieve competitive advantage and superior business performance. In this study, the main subject is to harmonize these two theories with a research model which is based on the assumption that business strategy is more effective when pursued with related capabilities. To perform the study, we conducted a questionnaire survey with 445 owners/executives of manufacturing firms. We measured business capabilities in terms of management, production, marketing‐sales, information system, logistics and external relationship dimensions. Component factors and key variables for the constructs, which are identified through a literature review, are confirmed using AMOS 16.0. Then data have been analyzed to test the hypothesis by using SPSS 15.0. As a result, separate and harmonized effects of business capabilities (BC) and generic strategies (GS) on business performance have been examined. Santrauka Ištekliais pagristas požiūris ir pozicionavimo teorijos yra du pagrindiniai požiūriai, prieštaraujantys vienas kitam siekiant konkurencinio pranašumo ir aukščiausio verslo efektyvumo. Pagrindinis šio tyrimo objektas – minetuju teoriju suderinimas taikant tyrimo modeli, kuris grindžiamas prielaida, kad verslo strategija yra efektyvesne, kai vykdoma atsižvelgiant i verslo galimybes. Tyrimui parengta anketine apklausa. Apklausti 445 gamybos imoniu savininkai ir (arba) vadovai. Vertintos verslo galimybes pagal valdyma, gamyba, rinkodara, pardavima, informacine sistema, logistika ir išorinius santykius. Sudetiniu veiksniu ir pagrindiniu kintamuju sudetis, nustatyta remiantis literatūros apžvalga, patvirtinta taikant AMOS 16.0. Norint tai patvirtinti hipotezemis, buvo analizuojami duomenys naudojantis SPSS 15.0. Galiausiai buvo tiriamas atskiras bei darnus verslo galimybiu ir bendru strategiju poveikis verslo efektyvumui.

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