Beata Agnieszka Żukowska, Olga Anna Martyniuk and Robert Zajkowski
Survivability capital is a unique resource resulting from the “familiness” constituting an inherent feature of family firms. Familiness represents the ability of family members to…
Abstract
Purpose
Survivability capital is a unique resource resulting from the “familiness” constituting an inherent feature of family firms. Familiness represents the ability of family members to reinforce the financial and non-financial resources of businesses facing threats to their economic existence. This work proposes and examines various dimensions of the survivability capital construct, verifying whether family firms expecting deterioration of their economic situation or problems with survival due to the COVID-19 crisis can mobilise sufficient capital to survive.
Design/methodology/approach
This article provides empirical evidence based on a cross-sectional online survey of 167 Polish family firms, conducted at the beginning of the COVID-19 pandemic. The method (scale) of survivability capital measurement was elaborated and validated using principal component analysis (PCA) and confirmatory factor analyses (CFA). Next, the mobilisation of the different dimensions of survivability capital was examined using PLS-SEM modelling.
Findings
The survivability capital of family firms is composed of two dimensions: internal (based on directly involved family members) and external (based on not directly involved family members). Family firms facing crisis-induced deterioration of the economic situation engage its internal component. Subsequently, family firms forecasting decreasing probability of survival during a crisis try to engage both the internal and the external components of survivability capital. Such behaviour is in line with the resource-based view as well as with the sustainable family business theory.
Originality/value
To the best of the authors' knowledge, this is one of the first studies to examine analytically the survivability capital construct. While previous studies mentioned the existence of survivability capital, this study attempts to introduce its various dimensions and test the mobilisation of survivability capital during the COVID-19 crisis.
Details
Keywords
Anne Woodsworth and W. David Penniman
The response to the call for chapters about mergers, acquisitions, collaborations, partnerships, and joint ventures proved to be rich and resulted in an unprecedented number of…
Abstract
The response to the call for chapters about mergers, acquisitions, collaborations, partnerships, and joint ventures proved to be rich and resulted in an unprecedented number of proposals. Furthermore, the range of proposals illustrated both variety in scope and a broad range of topics. As a result, the material accepted for publication was split into two volumes. This volume includes those chapters deemed broadest in nature, while Volume 37, to be published later this year, will present material of a narrower and more focused nature and mostly in the form of case studies at the operational level. At a time when the volatile nature of the world economy calls for new approaches to business, these volumes provide an interesting panorama from the nonprofit sector of libraries and information services about the world of mergers and acquisitions (M&A’s) as well as the less riskier, but equally dramatic, activities of collaborations, partnerships, and joint ventures.
Claudia Benavides-Salazar, Cristina Iturrioz-Landart, Cristina Aragón-Amonarriz and Asunción Ibañez-Romero
This paper aims to investigate how entrepreneurial families (EFs) influence the development of entrepreneurial ecosystems (EEs) by using the family social capital (FSC) approach.
Abstract
Purpose
This paper aims to investigate how entrepreneurial families (EFs) influence the development of entrepreneurial ecosystems (EEs) by using the family social capital (FSC) approach.
Design/methodology/approach
For this paper, the authors analyzed the Manizales EE as a case study. The authors used a variety of data collection procedures, including in-depth interviews with 26 entrepreneurs and mentors.
Findings
The authors established how EFs affect EE development, identifying how the FSC bridging mechanisms impact the EE’s social and cultural attributes, boosting entrepreneurial dynamics.
Originality/value
The results indicated the relevance of EFs’ embeddedness and the degree of the FSC institutionalization in promoting of entrepreneurship within the EEs.