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Article
Publication date: 8 May 2019

Fernando Muñoz-Bullón, Maria J. Sanchez-Bueno and Mattias Nordqvist

The purpose of this paper is to investigate how family ties in new venture teams (NVTs) influence the intended future growth of a nascent entrepreneur’s business. The authors…

758

Abstract

Purpose

The purpose of this paper is to investigate how family ties in new venture teams (NVTs) influence the intended future growth of a nascent entrepreneur’s business. The authors posit that R&D-oriented entrepreneurs in NVTs with family ties have higher growth intentions relative to those who are less oriented toward R&D.

Design/methodology/approach

The hypotheses were tested using data from the Panel Study of Entrepreneurial Dynamics II (PSED II). One distinctive feature of the PSED is that it is based on a random sample of 1,214 nascent entrepreneurs in the process of starting new ventures in the USA, which overcomes the recall biases associated with surveying entrepreneurs already in business and potential survivorship biases.

Findings

The results show that growth intentions in NVTs with family ties is greater when the nascent entrepreneur shows an R&D behavior, even though the presence of family members in the team is negatively related to the intentions of nascent entrepreneurs with regard to new venture growth. This effect is attributed to entrepreneurs’ long-term vision and a more favorable attitude toward change.

Research limitations/implications

Data on startup teams in the PSED II come from one team member (the respondent). Therefore, differences in perceptions regarding growth intentions cannot be determined. Moreover, the sample consisted exclusively of nascent entrepreneurs in the USA.

Practical implications

Knowledge about the determinants of growth intentions during the venture creation phase becomes relevant if we want to influence and support the growth of newly founded firms. Nascent entrepreneurs need to understand the trade-off between emotional and financial concerns.

Social implications

Nascent entrepreneurs more oriented toward R&D become more risk tolerant, and may accept certain losses to their emotional endowment in favor of pure financial goals, being more able to access the additional external resources (tangible and intangible) needed for growth.

Originality/value

The research expands previous evidence on the family involvement-performance debate in large firms by focusing on new ventures with family ties, with distinctive characteristics that may affect growth intentions. The authors also shed new light on the interplay between family business and entrepreneurship. In particular, the research helps gain an understanding of how NVTs with family ties deal with the opposition between the benefits from venture growth and the tendency to preserve team member’s emotional attachment.

Details

Management Decision, vol. 58 no. 6
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 October 2004

Fernando Muñoz‐Bullón

This paper studies the juridical rationale for mandatory training provision on Temporary Help Agencies as established in the Spanish Temporary Help Agencies Act, 1994 (Law 14/94)…

880

Abstract

This paper studies the juridical rationale for mandatory training provision on Temporary Help Agencies as established in the Spanish Temporary Help Agencies Act, 1994 (Law 14/94). No positive relationship is found between the improvement in Temporary Help Agencies' added value levels and their investments in temps' training. In analyzing this specific provision of Spanish Labor Law we adopt a positive focus to explain its impact on the functioning of the temporary help industry. The application of institutional theory leads us to conclude that efficient use of this legal prescription is limited. The issue is relevant to understanding the economic outcomes of regulation from a law and economics perspective.

Details

International Journal of Manpower, vol. 25 no. 7
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 17 May 2011

Fernando Muñoz‐Bullón and Maria J. Sanchez‐Bueno

The purpose of this paper is to examine the joint effect of product and international diversification strategies on the performance of small and medium enterprises (SMEs) in Spain.

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Abstract

Purpose

The purpose of this paper is to examine the joint effect of product and international diversification strategies on the performance of small and medium enterprises (SMEs) in Spain.

Design/methodology/approach

The authors rely on a panel data of small and medium Spanish manufacturing enterprises over the period 1993‐2006, collected from the Spanish Survey of Business Strategies.

Findings

The evidence reveals the existence of a negative relationship between geographic expansion and profitability. Likewise, the adoption of both product and international diversification is not associated with higher performance.

Research limitations/implications

A promising avenue for future research is the analysis of firms located in different countries (for example, emerging economies), or the study of this issue considering factors such as the ownership structure (family firms, the role of the state and banks, etc.).

Practical implications

The authors' analysis underlines the fact that the distinctive particularities of SMEs – for example, limited resources, lack of previous experience in the adoption of new products and accessing new markets – might constrain diversification as an alternative for firm growth. As a practical implication, Spanish SMEs should overcome their shortcomings before adopting diversification in order to improve the profitability associated with these strategies.

Originality/value

Although Spain's economic structure is highly segmented and made up of mainly SMEs, research on these companies in this country is rather scarce. In particular, the distinctive characteristics of SMEs mean that diversification might have different performance implications than for larger companies. Moreover, the authors' analysis offers new insights compared to previous research, which has traditionally relied on cross‐section data.

Details

EuroMed Journal of Business, vol. 6 no. 1
Type: Research Article
ISSN: 1450-2194

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Article
Publication date: 7 September 2010

Fernando Muñoz‐Bullon and Maria J. Sanchez‐Bueno

The objective of this paper is to analyze whether the way that downsizing is implemented has any impact on the firm's performance.

4968

Abstract

Purpose

The objective of this paper is to analyze whether the way that downsizing is implemented has any impact on the firm's performance.

Design/methodology/approach

The sample under investigation consists of a set of Spanish companies, which downsized between 1995 and 2001. The paper includes downsizing announcements and combines information from two different datasets (BARATZ and SABI). The focus is placed on the size of downsizing and the use of disengagement incentives.

Findings

A negative relationship between the size of downsizing and post‐downsizing corporate performance is found. In particular, firms which announced severe downsizing experience relatively lower performance in the year following the announcement.

Originality/value

The analysis advances organizational research by reinforcing the concept that firm performance is not only contingent on strategies, but also influenced by the means through which these strategies are implemented.

Details

Management Decision, vol. 48 no. 8
Type: Research Article
ISSN: 0025-1747

Keywords

Available. Content available
Article
Publication date: 11 November 2013

193

Abstract

Details

International Journal of Manpower, vol. 34 no. 8
Type: Research Article
ISSN: 0143-7720

Available. Content available
Article
Publication date: 9 November 2012

335

Abstract

Details

International Journal of Manpower, vol. 33 no. 8
Type: Research Article
ISSN: 0143-7720

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Article
Publication date: 13 November 2018

Alessandro Cirillo, Mario Ossorio and Luca Pennacchio

The purpose of this paper is to contribute to innovation and family business literature by establishing whether institutional involvement of private equity (PE) and banks in…

1035

Abstract

Purpose

The purpose of this paper is to contribute to innovation and family business literature by establishing whether institutional involvement of private equity (PE) and banks in family firms moderates the relationship between family ownership and research and development (R&D) investment.

Design/methodology/approach

This paper used the socio-emotional wealth lens to carry out an econometric analysis on a large sample of Italian non-listed family firms. Using the sample selection model meant it was possible to account for potential selection bias arising from firms’ discretionary disclosure of R&D expenditure.

Findings

Family involvement in ownership reduced firms’ R&D intensity. When PE investors also held shares, the negative relationship was diverted. Bank involvement, however, did not have a significant effect on the relationship.

Research limitations/implications

This paper enriches the innovation management literature by increasing the understanding of the determinants of R&D investments in family firms. The results support the view that non-financial priorities in family firms are contingent upon non-family shareholders. This enriches the debate about the heterogeneity of family businesses and is consistent with the socio-emotional wealth framework, which has shown that risk preferences may vary if desired and actual performances are different. This may be a fruitful area for future research.

Originality/value

Contradicting the assumption that institutional owners all share the same perspective, this study is the first to assess the impact of different institutional shareholders on R&D intensity of private family firms.

Details

Management Decision, vol. 57 no. 7
Type: Research Article
ISSN: 0025-1747

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Book part
Publication date: 28 August 2020

Xileidys Parra, Xavier Tort-Martorell, Fernando Alvarez-Gomez and Carmen Ruiz-Viñals

Rational use of the information available to companies is one of the strategic concerns for both family businesses and non-family businesses. The aim is to make the best use of…

Abstract

Rational use of the information available to companies is one of the strategic concerns for both family businesses and non-family businesses. The aim is to make the best use of the information resulting from data analysis in order to gain strategic advantage and to be more competitive as a company in all its functional areas. Experience indicates that emotions play an important role, especially in family businesses. Many maturation models exist to analyze decision-making processes (DMPs), but none from the perspective of family business cognition. The authors start from their own “Circumplex Hierarchical Representation of Organisation Maturity Assessment” (CHROMA) model (Parra, Tort-Martorell, Ruiz-Viñals, & Alvarez-Gomez, 2017), which was created to support decision processes in family businesses. This model was proven successful in the analysis of DMPs in large family businesses. The model was simplified as CHROMA-SHADE (Parra, Tort-Martorell, Ruiz-Viñals, & Alvarez-Gomez, 2019), more adequate for the analysis of small and medium-sized family businesses. Despite being a good DMP analysis instrument, intangible aspects such as family values and emotions have not yet been included. Both entrepreneurial emotions and entrepreneurial cognition must be taken into account when analyzing the DMP of the family business. In this chapter, the authors wish to explore attributes that can be introduced into a new dimension in the CHROMA model in order to make it more specific in the analysis of DMPs of family businesses regardless of size. The resulting FAMILY-CHROMA model represents a specific maturation model to evaluate DMPs based on the use of business information of family businesses.

Details

The Entrepreneurial Behaviour: Unveiling the cognitive and emotional aspect of entrepreneurship
Type: Book
ISBN: 978-1-78973-508-6

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Article
Publication date: 27 April 2022

Carlos-Javier Prieto-Sánchez and Fernando Merino

The main purpose of this study is to analyze how factors such as innovation, entrepreneurial spirit and motivation, as well as various economic and environmental factors, affect…

386

Abstract

Purpose

The main purpose of this study is to analyze how factors such as innovation, entrepreneurial spirit and motivation, as well as various economic and environmental factors, affect the creation of born-global (BG) companies.

Design/methodology/approach

The research model was tested through logistic regression techniques to a sample obtained from the Global Entrepreneurship Monitor data set for the period from 2007 to 2016.

Findings

Empirical findings suggest that innovation, entrepreneurial spirit and motivation, as well as government policies, contribute to a company’s likelihood of becoming BG.

Originality/value

Recent research has shown interest in the development of explanatory models of BG firms that allow the study of how context and institutions affect the development of international business activities. Following an integrative and a multidisciplinary approach with a temporal dimension, this study expands the literature by comparing countries with different income levels and analyzing macroeconomic aspects along with certain characteristics of the entrepreneur and the environment as possible determinants. This study provides a better understanding of the prevalence of the BG business phenomenon by paying attention to country characteristics and how they affect the traits of individuals.

Details

Multinational Business Review, vol. 30 no. 4
Type: Research Article
ISSN: 1525-383X

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Article
Publication date: 19 March 2019

Faisal Shahzad, Ijaz Ur Rehman, Sisira Colombage and Faisal Nawaz

The purpose of this paper is to empirically investigate the impact of two monitoring mechanisms: family ownership (FO) and financial reporting quality (FRQ) on investment…

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Abstract

Purpose

The purpose of this paper is to empirically investigate the impact of two monitoring mechanisms: family ownership (FO) and financial reporting quality (FRQ) on investment efficiency (IE) over the period of 2007–2014 for listed firms on the Pakistan Stock Exchange.

Design/methodology/approach

The authors employ two-dimensional pooled OLS cluster at the firm and year level, two-stage least square regression and feasible generalized lease square regression regression methods.

Findings

The findings suggest that higher FRQ and FO are associated with higher IE. Further, the authors report that higher FRQ and FO mitigate over- and under-investment. The impact of FRQ on IE is stronger (weaker) for family-controlled businesses. The results for these particular estimates are robust for alternative estimation techniques and measures of FRQ and FO.

Originality/value

The study draws on both agency and behavioral agency theories and therefore contributes to the literature in the following ways. First, the authors examine a relationship between FRQ and IE. Second, the authors test the impact of FO on IE. Third, the authors test the moderating impact of FO on the relationship between FRQ and the IE of family and non-family firms in relatively less regulated emerging market.

Details

Managerial Finance, vol. 45 no. 4
Type: Research Article
ISSN: 0307-4358

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