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The purpose of this paper is to describe internal corporate governance mechanisms in family firms as well as conflicts that may arise among shareholders and family members in the absence of specific corporate governance mechanisms.

After presenting theoretical concepts, the authors study the case of Spanish family firm El Corte Inglés to understand some of the corporate governance difficulties the company has experienced over the past few years.

This case illustrates how corporate governance problems can arise because the right mechanisms have not been used, leading to conflicts among family members, valuation problems and power struggles.

There is a need for family firms to employ suitable corporate governance mechanisms as governance complexity increases.

This study aims to contribute to the understanding of corporate governance problems among family members and their possible solutions.

The purpose of this paper is to investigate the relationship between single-state municipal bond fund risk and water scarcity in the USA.

The authors compare the risk profiles of funds from states with limited water resources with those from states without this issue.

The authors find that, as expected, funds from southern and western states, which suffer from water scarcity, are riskier than funds from other regions within the mainland USA. Although this study is concerned with which funds are riskier, it is noted that funds from the northeast are significantly less risky than funds from other regions.

Due to limited water resources, crumbling water infrastructure and continuous water-rights legal battles, water resources in the USA have become a highly sought-after commodity. In this study, we contribute to the discussion on the many repercussions of water scarcity on financial assets.

The purpose of this paper is to explore whether or not companies committed to quality management within the European Foundation for Quality Management (EFQM) Excellence Model framework use and manage the information in an efficient way, i.e., they have developed information capability. In particular, this research investigates the links between information capability and the EFQM Excellence Model.

This study is an extension of previous work by Zárraga-Rodríguez and Alvarez (2013), which was a first qualitative approach to the subject. In that work the EFQM Excellence Model criteria were analysed to see if somehow they illustrate practices associated to a company’s information capability, self-analysis reports of a set of quality award winners were reviewed and interviews were conducted with members of those companies. The present research adopts a quantitative approach to gain deeper knowledge. Through a questionnaire survey the perceptions of managers in companies committed to the EFQM Excellence Model with respect to information capability-related practices and about the information they managed are captured.

The analysis shows evidence that many information practices are common practices among companies committed to the EFQM Excellence Model and reveals information practices that should be improved.

Practices that lead to efficient use and management of information have not been studied in detail in companies committed to quality management within the EFQM Excellence Model framework. Companies that are aware of the importance of handling quality information when making the decisions will find in this study a set of practices they can implement in order to achieve excellent performance based on the use and management of information.

The purpose of this paper is to examine the performance and diversification value of water-related funds. As pollution, climate change and accelerated population growth threaten water resources worldwide, such resources have become a sought-after asset. For most investors, it is impractical to physically hold water as part of a portfolio; therefore, an open question is how to better gain exposure to this asset. The authors propose a look at water-related mutual funds, an issue not found addressed in the literature. In addition to the investment potential of these funds, investors might be drawn to them as part of a more comprehensive socially responsible agenda.

In the present study, the authors identify and measure the risk-adjusted performance and diversification value of open-end funds dedicated to investments in water-related securities. Jensen’s alpha is used to measure risk-adjusted performance, whereas diversification value is examined by implementing a methodology widely used in the mutual fund literature.

Consistent with previous studies on the performance of ethical or socially responsible mutual funds, the authors found that their sample of water-related mutual funds neither outperform nor underperform two benchmarks. However, the authors also found that they offer potential diversification gains for international mutual funds’ portfolios.

Open-end water-related mutual funds have only been recently created, and currently, very few funds are available to investors. These facts limit the sample size and the length of the return series examined.

The authors have not found a paper that examines the performance and diversification value of water-related mutual funds. These funds present themselves as a practical way for individual investors to gain exposure to the commodity of water.

Dubai Quality Award (DQA) is one of the quality awards that has been implemented in the United Arab Emirates (UAE) for the purpose of improving organisational performance. The objective of this study is to determine whether receiving the DQA has positive impacts on Human Resource Development Practices (HRDP) and organisational performance (OP) of the award-winning companies.

Secondary data relating to DQA scores were collected from the Department of Economic Development archive of UAE and primary data relating to HRDP and OP were collected from the individual DQA recipients. Data elicited were subjected to statistical analyses by using the structural equation modelling (SEM) approach. This was to identify the nature of relationships existing between DQA criteria and organisational performance outcomes through the mediating effect of HRDP.

The results indicated that winning of DQA significantly enhances organisational performance and that HRDP is a statistically significant mediator between DQA and OP. Based on the findings of this study, a model has been developed by linking the DQA criteria, HRDP and organisational performance.

Despite few of its limitations, this study is first of a kind in UAE that investigated the relationships among DQA criteria, HRDP and OP. The findings are expected to help the UAE companies to adjust their management policies and practices for enhancing their organisational performance. The findings can also be applicable to companies in other countries, especially Gulf countries that have similar awards such as DQA.

This research comprehensively analyses the profound impact of Digital Transformation and Process Innovation (DT&PI) on business models (BMs) in the Food Service Sector (FSS), especially in the post-pandemic context. The study is guided by three primary research questions: (1) Identifying key FSS players and their interconnections, (2) Understanding the differentiation strategies these entities employ and (3) Assessing how COVID-19 has altered their BMs.

The study utilises a rigorous methodology, starting with a thorough analysis of the Business Model Canvas (BMC) for 100 prominent Spanish FSS firms, culminating in a comprehensive sector-wide BMC. Cluster analysis is then applied to group firms based on common attributes and relationships identified in the overall BMC. Additional insights are gathered through semi-structured interviews with representatives from FSS companies.

The study identifies five distinct clusters of FSS companies, each defined by unique BM strategies. These strategies mainly focus on sales and distribution channels, differentiating between those using multiple channels and those solely relying on digital platforms. Importantly, the study shows that digital transformation in the FSS was already in progress before the pandemic but was greatly expedited by it. COVID-19 stimulated the digitalisation of services, expanding sales channels and diversifying customer engagement.

This research enriches the dynamic capabilities theory by examining how DT&PI influence BM innovation in the FSS, highlighting adaptation to technological trends. It offers a fresh perspective on value creation and stakeholder interaction, contributing to the foundational theory for future FSS BM research.

This paper aims to explain the dynamics of entrepreneurial decisions and actions (D&As) in the small and medium-sized enterprise (SME) growth process. The study focuses on the changing portfolio and relationship governance and captures these dynamics by using the concept of “enabling constraints” (ECs).

In-depth, long-term and multiple-case study method was adopted based on six high-growth SMEs. Pattern-matching and alternative template approach formed a basis for developing a research framework, further corroborated and advanced in the empirical study.

The research provides empirical evidence of ECs as entrepreneurial perceptions that both limit (constrain) the range of accessible options and facilitate (enable) new opportunities. This study’s results point to how owner-managers' judgments about growth motives and rationales constrain their choices and how they enable new directions, acknowledging the changing context.

This work contributes to the research on SME growth processes by specifying their dynamics in terms of a creative mutual causality. Here, D&As stem from entrepreneurs' perceptions that are affected by the context, with the latter also shaped by prior decisions and actions. This theoretical contribution has been synthesized in the form of a framework of ECs in the SME growth process with related propositions.

Taking as reference a sample of around a hundred biographical materials on entrepreneurs in Mexico and Colombia, the purpose of this chapter is dual. Both to show the relevance and varied modalities that the biographical approach has enjoyed in business history research since the 1990s, and to display the intrinsic potential this modality of scholarship entails for entrepreneurship endeavors. In particular, it discusses the prospects to incorporate this body of empirical works into the large Latin American audience attending undergraduate, graduate and executive education programs in business, economic history and related fields. The chapter is organized into three sections. The first two are devoted to illustrate relevant patterns in the entrepreneurial trajectory of individuals and entrepreneurial families studied in each of the two countries under consideration. The last section identifies some conceptual issues that may impact current debates on Latin American business development as exemplified in recent business and economic history journal venues and scholarly conferences.

This paper seeks to analyse the internal materials flow in lean manufacturing in an assembly line of the Bosch factory, located in Spain. The objective is to develop a handling system in a small space, capable of solving the problems of accumulated intermediate stocks of parts. An improvement is proposed adopting the milkrun handling system, while verifying the advances by means of lean metrics.

Based on this case study, the paper identifies data from value stream mapping and uses lean metrics, such as dock‐to‐dock time and lean rate. The case study develops a timetable and routing analysis for the milkrun to improve materials flow.

The proposed logistics allows an improvement of lean metrics, without modifying the layout and production planning. The routing flexibility of the milkrun reduced stocks, work‐in‐process and dock‐to‐dock time, while increasing lean rate.

The findings are limited due to the focused nature of the case study. Although the solution is designed for a particular plant, the methodology is fully exportable.

The paper shows a real case study illustrative for systems management. This research shows significant benefit associated with the implementation of lean programs.

It details how the application of lean manufacturing tools could necessitate a study of materials handling to improve lean metrics.