Effects of parental entrepreneurial performance on the mode of entrepreneurial entry by the next-generation family members: evidence from an emerging economy

PurposeThe purpose of the paper is to examine the effects of perceived parental entrepreneurial rewards, or PPERs (i.e. the offspring's perception of the degree of parental success in entrepreneurship), on the corporate venturing (CV) mode of entrepreneurial entry and the interaction effects of family business involvement (FBI) and formal employment on the association between PPER and CV by the next-generation family members.Design/methodology/approachA survey was administered to a sample of 738 small business owners in Kenya; of which, 440 small business owners were selected because they grew up in a family business context. A probit model was used to examine the main and interaction effects.FindingsPPERs significantly influenced CV. FBI improves the positive relationship whereas formal employment reduces the effects of PPER on CV.Practical implicationsFamilies in business need to improve conversations with their children to include discussions concerning the intrinsic and extrinsic rewards of running a family business, which may shape not only the entrepreneurial entry path of their offspring but also the willingness to establish businesses that may grow and lead to continuity of the family business of origin.Originality/valueThe study investigates the effect of being embedded in a business family in shaping the CV mode of entrepreneurial entry by the next-generation family members who may not, on the one hand, find independent own founding an attractive option and for whom, on the other hand, the succession mode of entry may not be an option.

The Loneliness of Older Adults Associated with Various Types of Thai Families

The structures of Thai families have changed, and therefore increased the number of factors negatively affecting older adults. The most common is loneliness, which affects older adults and is closely related to mental state. The purpose of this research was to analyze and compare the level of loneliness of older adults in different family types and study the differences between personal factors, family factors, and social factors of the older adults toward the loneliness of the older adults within a variety of family types. The population was 346 older adults aged 60 years and over. The analysis found that 76% of older adults in the study have low levels of loneliness. The older adults in different family types had a statistically significant difference level of loneliness. The older adults who lived alone had a higher level of loneliness than others. Factors related to the moderate level of loneliness among the older adults within different family types were not participating in family activities of a parent-child family and income inadequacy in a three-generation family. The outcome of this research could be used to promote and improve care for older adults to reduce and prevent loneliness based on their specific family types.

A theory of venture capital family business: a governance trajectory

PurposeThe purpose of this study is to understand venture capital family businesses (VCFBs) governance of portfolio companies through the deal process.Design/methodology/approachThis study applies a theory-developing approach. A model of VCFB governance is developed whose key aspects are illuminated by four examples (cases) of VCFBs.FindingsRecent research suggests that a venture capital firm's corporate deal processes can be divided into the pre-deal, deal and post-deal phases. Based on the age, size and succession dimensions, propositions for how a governance trajectory develops for VCFBs, affecting the deal process of target family firms (TFFs), are presented. These propositions highlight how the family owners' actions and behavior are related to VCFB governance, which in turn, influences the three phases involved in making an investment.Originality/valueThe propositions suggest how personal and administrative VCFBs' governance of the deal process of portfolio companies is significantly affected by centrifugal and centripetal forces that drive the respective types of governance where third-generation family owners appear as changers of governance approach.

Occurrence of Esophageal Atresia With Tracheoesophageal Fistula in Siblings From Three-Generation Family Affected by Variable Expressivity MYCN Mutation: A Case Report

The MYCN oncogene encodes a transcription factor belonging to the MYC family. It is primarily expressed in normal developing embryos and is thought to be critical in brain and other neural development. Loss-of-function variants resulting in haploinsufficiency of MYCN, which encodes a protein with a basic helix–loop–helix domain causes Feingold syndrome (OMIM 164280, ORPHA 391641). We present an occurrence of esophageal atresia (EA) with tracheoesophageal fistula in siblings from a three-generation family affected by variable expressivity of MYCN mutation p.(Ser90GlnfsTer176) as a diagnostic effect of searching the cause of familial esophageal atresia using NGS-based whole-exome sequencing (WES). All of our affected patients showed microcephaly and toe syndactyly, which were frequently reported in the literature. Just one patient exhibited clinodactyly. None of the patients exhibited brachymesophalangy or hypoplastic thumbs. The latest report noted that patients with EA and Feingold syndrome were also those with the more complex and severe phenotype. However, following a thorough review of the present literature, the same association was not found, which is also confirmed by the case we described. The variable phenotypic expression of the patients we described and the data from the literature guide a careful differential diagnosis of Feingold syndrome even in cases of poorly expressed and non-specific symptoms.

Generational Socioemotional Wealth and Debt Maturity: Evidence from Private Family Firms of GIPSI Countries

In this paper we investigate the relationship between generational socioemotional wealth (SEW) and debt maturity structure in private family firms of GIPSI countries for the period 2010-2018. This appears to be quite an important issue to study, given that SEW is a peculiar aspect of family firms and its impact on the debt maturity structure, still relatively unexplored, is likely to change according to the generation running the family business. We show that the importance attached to SEW decreases when moving from the firms’ founder to the subsequent generations, with a negative effect on the amount of long-term debt. The forward-looking orientation of first-generation family firms favours long-term credit by banks in order to expand a healthy business which can be inherited by future generations. These businesses are hence perceived as less risky and more value-creating by external creditors, compared to later-generation family firms. Alternatively, SEW preservation is often less of a target in later-generation family firms, because some descendants consider the firm simply as a source of extra finance and conflicts of interest often arise between multiple generations or different family branches entering the business. Short-term debt may then be employed as a signaling effect of the quality of the firm. At the same time, borrowing long-term capital may become difficult if lenders question the creditworthiness of these businesses. This issue emerged dramatically during the sovereign debt crisis, when a significant contraction of credit to firms was observed throughout the GIPSI countries.

Perceived Parental Care and Next-Generation Family Members’ Succession Intentions: The Sequential-Mediating Role of General Self-Efficacy and Perceived Person-Job Fit

ABSTRACT Whereas the existing literature on the relationship between parental behavior and family business succession mainly focuses on parental behavior in the business domain, we highlight the importance of parental behavior in the family domain. Integrating attachment theory, the family business succession literature, and person-job fit literature, our study proposes a theoretical framework hypothesizing that general self-efficacy and perceived person-job fit mediate the association between perceived parental care (an underrepresented family-domain-specific parental behavior) and next-generation family members’ succession intentions. This framework is tested by data from two surveys and further verified by qualitative interviews of next-generation family members. Multivariate analysis results suggest that next-generation family members’ general self-efficacy and perceived person-job fit played a sequential-mediating role in the relationship between perceived parental care and next-generation family members’ succession intentions. Our interviews not only confirm these results but also reveal new insights, particularly into the specific Chinese context in the study of family business succession.

The impact of the CEO's financial literacy on family SMEs' growth: the moderating role of generational stage

PurposeThis study investigates the impact of the CEO's financial literacy on family SMEs' growth, as well as the moderating role of the generational stage on this relationship.Design/methodology/approachThe study is based on survey data of Spanish private family firms and utilizes a second source of data, the SABI database by Bureau Van Dijk. The authors run ordinary least squares regressions and use both the base and the partition approaches to test the hypotheses.FindingsThe analysis reveals a positive association between the CEO's financial literacy and firm growth. However, this relationship is not uniform across generations. The CEO's financial literacy-firm growth relationship becomes weaker for first- and third or subsequent-generation family firms while becoming stronger for second-generation family firms.Originality/valueThis study adds the financial literacy of the CEO as a novel individual-level determinant of family firm growth. It also shows that CEOs do not always use their financial literacy to its full potential to foster growth. More specifically, the extent to which financial literacy leads to firm growth is found to be conditional on the generational stage of the family SME. The obtained findings are valuable for family SMEs intending to hire a new CEO, encouraging the financial literacy of the current CEO and educating the next generation of family members.

Expansion of 5’ UTR CGG repeat in RILPL1 is associated with oculopharyngodistal myopathy

Oculopharyngodistal myopathy is an adult-onset degenerative muscle disorder characterized by ptosis, ophthalmoplegia and weakness of the facial, pharyngeal and limb muscles. Trinucleotide repeat expansions in non-coding regions of LRP12, G1PC1and NOTCH2NLC were recently reported to be the etiologies for OPDM. However, a significant portion of OPDM patients still have unknown genetic causes. In this study, we performed long-read whole-genome sequencing in a large five-generation family of 156 individuals, including 22 patients diagnosed with typical OPDM and identified CGG repeat expansions in RILPL1 gene in all patients we tested while not in unaffected family members. Methylation analysis indicated that methylation levels of the RILPL1 gene were unaltered in OPDM patients, which was in consistent with previous reports. Our findings first provided evidences that RILPL1 were associated OPDM which we suggested as OPDM type 4.