scholarly journals EVOLUTION OF FAMILY BUSINESSES – A 3D THEORETICAL APPROACH

2020 ◽  
Vol 5 (Special) ◽  
pp. 94-103
Author(s):  
Júlia Tobak ◽  
András Nábrádi
Keyword(s):  
Theoretical Model ◽  
Ownership Structure ◽  
Influencing Factor ◽  
Theoretical Method ◽  
Family Businesses ◽  
Three Dimensions ◽  
International Literature ◽  
Complex Task ◽  
International Comparative ◽  
Family Dimension

According to international literature there are many researches about family businesses. Examining and evaluating these kinds of businesses is a complex task because it is hard to take into account every influencing factor which have an impact on the operation of family businesses. The purpose of this study is to present a new theoretical method and model which is applicable to measure the development of family businesses from three dimensions: (1) family, (2) business and (3) ownership. The new theoretical model is suitable for carrying out such cross-sectoral and international comparative statistical analyses. The three attributes of family businesses may be measured, evaluated and analyzed separately and/or in combination. It is suitable for doing aggregated analysis of one or more companies. The (1) family dimension presents wich generation/generations operates the business. The dimension of (2) business shows the level of separation of tasks between family and non-family members and gives an answer how the management and the ownership functions are separated. The (3) ownership dimension shows the ownership state of examined businesses and can clarify the stage of the ownership structure. The simultaneous or separate examination of dimensions can assist to family businesses to measure their own status. The TONA model is applicable to measure the evolution of family businesses and can show the differences between sectors or countries in an illustrative way.

Family succession, professionalization and internationalization: a study of Brazilian family businesses

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Augusto Dalmoro Costa ◽  
Aurora Carneiro Zen ◽  
Everson dos Santos Spindler
Keyword(s):  
Family Business ◽  
Family Members ◽  
Secondary Data ◽  
Family Businesses ◽  
Three Dimensions ◽  
Content Type ◽  
The Family ◽  
Two Generations ◽  
Internationalization Strategies ◽  
The Relationship

PurposeThe purpose of this paper is to investigate the relationship between family succession, professionalization and internationalization in family businesses within the Brazilian context.Design/methodology/approachThe paper presents a multiple-case study method with three Brazilian family businesses that have at least two generations of the owning family involved in the business and an international presence of at least three years. In-depth interviews and secondary data were undertaken with family and non-family members of each case.FindingsThe authors' results show that a family business can boost its internationalization by introducing both succession planning and professionalization on international activities. As family members tend to be more risk-averse and focused on keeping the family business within the family, professionalization is a way of improving the firm's ability to expand internationally. This process tends to lead to lower performance by the firm for the first few months or the first year after the investment, but afterward, international performance tends to grow exponentially.Originality/valueOnly a few studies have been concerned on the relationship of these three dimensions. Thus, the research takes into account that professionalization and succession lead family businesses to improve their internationalization strategies.

scholarly journals Ownership structure and performance in family businesses at early developmental stage: evidence from China

2009 ◽  
Vol 7 (1) ◽  
pp. 138-150 ◽  
Author(s):  
Zhong Qin ◽  
Xin Deng
Keyword(s):  
Developmental Stage ◽  
Ownership Structure ◽  
Family Firms ◽  
Family Businesses ◽  
Early Developmental Stage ◽  
Governance Mechanism ◽  
Professional Managers ◽  
And Performance ◽  
The Impact ◽  
Early Developmental

This paper explores the impact of ownership structure on performance of family businesses at its early developmental stage in a context of under-developed market environment. Using a survey data of 296 private family firms in Ningbo, China, we find both management and single largest shareholder’s ownership is positively related to firm’s performance. However, family’s shareholding does not have significant impact on performance. Further inquiry on firm’s willingness to give shares to managers who are not family members indicates that while nearly half of the firms are willing to provide shares to professional managers, weak corporate governance mechanism and under-developed market may discourage such practice.

The Quadruple Sustainability

2020 ◽  
pp. 283-303
Author(s):  
Beatriz Forés ◽  
José Antonio Clemente Almendros ◽  
José María Fernández Yáñez
Keyword(s):  
Environmental Analysis ◽  
Ownership Structure ◽  
Tourism Industry ◽  
Three Dimensions ◽  
Environmental Commitment ◽  
Sustainability Performance ◽  
Matching Technique ◽  
Sales Employees ◽  
The Relationship ◽  
Positive Effect

This chapter analyzes the relationship between ownership structure and sustainability performance adopting the socioemotional wealth approach. This work extends previous literature on the topic by considering the three dimensions of sustainability performance: economic, social, and environmental. Analysis with the matching technique revealed that being a family firm has a positive effect on economic profitability, growth sales, employees training and commitment, investment in R&D, environmental commitment, and cooperation agreements with external partners. The authors use a sample of Spanish firms operating in the tourism industry.

THE PROFESSIONALIZATION OF CHINESE FAMILY BUSINESSES IN SINGAPORE

1999 ◽  
Vol 07 (02) ◽  
pp. 197-211 ◽  
Author(s):  
WEE-LIANG TAN ◽  
D. G. ALLAMPALLI
Keyword(s):  
Family Member ◽  
Business Performance ◽  
Family Businesses ◽  
Three Dimensions ◽  
Chinese Family ◽  
Firm Characteristics ◽  
Growth Strategies ◽  
Professional Managers ◽  
Significant Difference ◽  
Survival And Growth

It has become common advice furnished to family businesses that in order for them grow and further develop, they need to professionalise their management. The literature suggests that firms that follow this advice will perform better and show higher survival and growth. This paper presents the findings of a study on the professionalisation of family businesses in Singapore. It examined whether family businesses that have professionalised their management differ from these that have not. It is anticipated that the professionalised Chinese family businesses would benefit from the introduction of professional managers. It was anticipated that they would be older in age (since succesion is not confined to family member), report better business performance, and adopt aggressive growth strategies. Firm differences were studies using three dimensions: firm characteristics like age and size when professionalised; performance differences using growth and business volume measures developed by Chandler and Hanks (1993) and growth strategies using the Miles and Stones typology (1978) of growth oriented firms. The study found that the professionalised family businesses did not differ in age but showed significant difference in size, better performance and aggressive growth strategies from those that were not.

scholarly journals A free-boundary model of diffusive valley growth: theory and observation

2017 ◽  
Vol 473 (2202) ◽  
pp. 20170159 ◽  
Author(s):  
Robert Yi ◽  
Yossi Cohen ◽  
Hansjörg Seybold ◽  
Eric Stansifer ◽  
Robb McDonald ◽  
...  
Keyword(s):  
Theoretical Model ◽  
Free Boundary ◽  
Moving Boundary ◽  
Three Dimensions ◽  
Growth Theory ◽  
Variable Diffusivity ◽  
Boundary Model ◽  
New Feature ◽  
Underlying Processes

Valleys that form around a stream head often develop characteristic finger-like elevation contours. We study the processes involved in the formation of these valleys and introduce a theoretical model that indicates how shape may inform the underlying processes. We consider valley growth as the advance of a moving boundary travelling forward purely through linearly diffusive erosion, and we obtain a solution for the valley shape in three dimensions. Our solution compares well to the shape of slowly growing groundwater-fed valleys found in Bristol, Florida. Our results identify a new feature in the formation of groundwater-fed valleys: a spatially variable diffusivity that can be modelled by a fixed-height moving boundary.

scholarly journals A Theoretical Method for Structural Design and Analysis of Crankshafts

2015 ◽  
Vol 7 (3) ◽  
Author(s):  
Sergio Baragetti
Keyword(s):  
Finite Element ◽  
Theoretical Model ◽  
Structural Design ◽  
Finite Element Modelling ◽  
Theoretical Method ◽  
Simple Theoretical Model ◽  
Element Simulation ◽  
Strain Behaviour ◽  
Numerical Finite Element ◽  
Theoretical Procedure

The crankshaft is the crucial mechanical component in many machines and engines and its fatigue assessment is often very time consuming and expensive. The machine designer usually needs a simple theoretical model that would allow choosing the best material and the dimensions of the component in a quick and reliable way. The numerical finite element simulation of crankshafts should follow the first step of theoretical dimensioning with the aim of evaluating the stress-strain behaviour at the notched area to verify the component against fatigue failure. The development of an intermediate theoretical model would prove effective to reduce the time needed to reach a second approximation design of the crankshaft. The aim of this paper is to give the designer a theoretical procedure that allows determining the strain and stress state for verification of crankshafts. The model was developed in the case of crankshafts with two connecting rods and validated by means of numerical finite element modelling and analysis.

scholarly journals Family social capital and governance of family businesses: The emerging market evidence

2022 ◽  
Vol 5 (2, special issue) ◽  
pp. 225-232
Author(s):  
Nada Moufdi ◽  
Ali Mansouri
Keyword(s):  
Social Capital ◽  
Cultural Context ◽  
Family Firms ◽  
Emerging Market ◽  
Family Businesses ◽  
Three Dimensions ◽  
Governance Mechanisms ◽  
Governance System ◽  
Family Social Capital ◽  
The Family

Considered as the most dominant business form in the entrepreneurial fabric in Morocco, as in the majority of countries in the world (Salhi, 2017), the family business is distinguished by a family social capital (FSC) making it competitive and perennial (Mesfar & Ben Kahla, 2018). This paper aims to analyze the influence of this capital, through its three dimensions — structural, relational, and cognitive — on the governance system of Moroccan family firms. The results of our exploratory study conducted among 30 family businesses in the form of interviews showed, on the one hand, that the existence of a strong FSC within the company makes its governance system based on informal family mechanisms. On the other hand, the weakness of the said capital has not led the companies that are the subject of our study to adopt formal corporate governance mechanisms as shared by several researchers. This is due, according to the interviewees, to socio-cultural considerations. Our results contribute to the enrichment of the literature while showing that the informality of governance mechanisms can be explained, not only by the strength of its FSC but also by such a socio-cultural context where the family model is of a communal and clan type welded by Islamic religious values of group cohesion

scholarly journals Measuring customer satisfaction with some of the controllable elements of the total retail experience: An exploratory study

2001 ◽  
Vol 32 (2) ◽  
pp. 35-42 ◽  
Author(s):  
N. S. Terblanche ◽  
C. Boshoff
Keyword(s):  
Theoretical Model ◽  
Customer Satisfaction ◽  
Structural Equation ◽  
Discriminant Validity ◽  
Three Dimensions ◽  
Equation Modeling ◽  
Comprehensive Model ◽  
Personal Interaction ◽  
Physical Cues ◽  
The One

Total retail experience is, for the purposes of this study, defined as all the elements that encourage or inhibit consumers during their contact with a retailer. This article reports on the influence of three dimensions of consumers’ total retail experience on their satisfaction levels. The items used to measure the theoretical model demonstrate sufficient reliability and discriminant validity. The theoretical model is then tested using a structural equation modeling approach. Although not a test of a comprehensive model of the total retail experience, the study does shows that the personal interaction between retail employee and customer on the one hand, and physical cues on the other hand, impact strongly on customer satisfaction.

scholarly journals Measuring Sustainable Marketing Orientation—Scale Development Process

2020 ◽  
Vol 12 (5) ◽  
pp. 1734
Author(s):  
Andrea Lučić
Keyword(s):  
Theoretical Model ◽  
Reliability And Validity ◽  
Measurement Instrument ◽  
Three Dimensions ◽  
Measurement Tool ◽  
Strategic Integration ◽  
Marketing Orientation ◽  
Sustainable Marketing ◽  
Orientation Scale ◽  
Depth Interviews

The purpose of this paper is to explore how sustainable marketing orientation (SMO) should be properly implemented in an organization built on the theoretical model of market-oriented sustainability. The aim of the paper is to explore and confirm the elements of sustainable marketing orientation and to develop a measurement tool with a mixed method approach. First, the construct was conceptualized through a literature review and qualitative research of in-depth interviews on a purposive sample of 20 experts, who generated items. The next stage included collection of data from 112 respondents that resulted the item purification and exploratory factor analysis, which confirmed the three dimensions of SMO: strategic integration, societal engagement and ethical capabilities. The main study consisted of 174 respondents and confirmed the measurement instrument, which contains three subscales proposed by the theoretical model, each containing six, five and four items, respectively, with high degrees of proven reliability and validity. The paper confirmed and further explored the framework of multidimensional SMO; the measurement tool captured the actual implementation of the construct in practice, allowing it to be investigated across industries.

Family Capital in Family Businesses

2020 ◽  
pp. 1-21
Author(s):  
Astrid Kramer ◽  
Brigitte Kroon
Keyword(s):  
Social Capital ◽  
Human Capital ◽  
Empirical Work ◽  
Family Businesses ◽  
Three Dimensions ◽  
Financial Capital ◽  
Review Of The Literature ◽  
Family Capital ◽  
The Family ◽  
Business Family

Family capital is all social, human, and financial capital a family has at their disposal in the family to advance the business. Family capital is the pool of resources unique to family business and it has the potential for family businesses to gain competitive advantage over nonfamily businesses in today's competitive landscape. To advance the knowledge about strategic management in family businesses, this chapter reviews quantitative empirical work on each dimension of family capital and concludes that the field is still in its infancy. Most studies concentrate on (a part of) social capital, a few on human capital, and very few on all three dimensions. The review of the literature describes avenues for further research on family capital.

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