Vincent Molly, Diane Arijs and Johan Lambrecht
Adopting an integrated agency and stewardship perspective, the purpose of this paper is to understand the relationship between family businesses (FBs) and private equity (PE…
Abstract
Purpose
Adopting an integrated agency and stewardship perspective, the purpose of this paper is to understand the relationship between family businesses (FBs) and private equity (PE) investors at three stages: entry, cooperation, and exit.
Design/methodology/approach
This qualitative study combines the perspectives of 11 FB owners and/or managers, seven PE investors, and four intermediaries. The in-depth interviews of this purposive sample are analysed at the intra- and inter-case level using a template analysis approach up to reaching theoretical saturation.
Findings
Building and maintaining an effective relationship between the FB and the PE investor requires both a stewardship perspective (i.e. reciprocal principal-steward behaviour) and a necessary but insufficient agency perspective (i.e. principal-principal behaviour).
Research limitations/implications
More large-scale studies with an integrated agency-stewardship perspective on FBs using PE can increase the external validity of the insights from this research to build and maintain an effective relationship between both parties.
Practical implications
Providing insights into the relationship building process and best practices, this study helps reduce the knowledge and empathy gap that exists between FBs and PE.
Originality/value
The results clarify the need to reconcile an agency and stewardship perspective to thoroughly understand the relationship and behaviour of FBs and PE investors, and to help the parties understand and benefit from each other’s added value.
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Michikazu Aoi, Shigeru Asaba, Keiichi Kubota and Hitoshi Takehara
The purpose of this paper is to explore corporate social performance attained by listed family and non-family firms in Japan. They are measured by the composite CSP index and five…
Abstract
Purpose
The purpose of this paper is to explore corporate social performance attained by listed family and non-family firms in Japan. They are measured by the composite CSP index and five attributes composed of employ relations, social contributions (SCs), firm security and product safety, internal governance and risk control, and environment concern.
Design/methodology/approach
The authors employ univariate and regression analyses on the quantitatively aggregated CSP score data of Japanese firms from 2007 to 2009.
Findings
Japan non-family firms tend to perform better than family firms in terms of attaining corporate social performance overall. Family CEOs positively affect CSP in the foods, textiles and apparels, and pharmaceutical industries as well as in retail trade, wholesale, and services industries, but negatively affect CSP in the heavy manufacturing industry. In these industries the joint effect of the percentage of family shareholdings and the fraction of family members on the board also augments the positive role played by family CEO. The findings are robust when the sample is ranked by Tobin’s q.
Research limitations/implications
The observation period is short due to the data availability of CSP by Toyo Keizai Inc. This data covers all the listed firms which answered the questionnaire, which may also contain sample selection problems.
Practical implications
Positive role of CEO and negative effects of shareholdings among listed family firms in Japan call for attention and corrective measures for top management and family shareholders.
Social implications
While family firms in Japan may accumulate socioemotional wealth, they should exert more efforts to advance CSP and create social capital.
Originality/value
This is the first comprehensive quantitative study in the field, which explored CSP of all the listed family firms vs non-family firms in Japan with large sample.
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Many individuals experience a sense of déjà vu when smelling a particular scent in the air or on hearing a name or words from the past. At times even the faintest scent or sound…
Abstract
Many individuals experience a sense of déjà vu when smelling a particular scent in the air or on hearing a name or words from the past. At times even the faintest scent or sound may evoke old memories and stir the senses. This is particularly true when the names of long‐ago television and radio programs are heard. Depending on one's age and the part of the country in which one lived, people born before the “baby boom” years (1946–1964) often feel a profound sense of nostalgia about such radio programs as Mr. District Attorney and Fibber McGee and Molly or the television shows Howdy Doody and Toast of the Town/Ed Sullivan Show. These early programs are considered part of the “golden age” of radio and television broadcasting.
The iconic vigilante Paul Kersey (Charles Bronson) returned to cinema screens via Death Wish 2 (Michael Winner) in 1982 and vigilantism would remain a key theme in American urban…
Abstract
The iconic vigilante Paul Kersey (Charles Bronson) returned to cinema screens via Death Wish 2 (Michael Winner) in 1982 and vigilantism would remain a key theme in American urban action films throughout the 1980s. Susan Jeffords subsequently argued that Hollywood's ‘hard bodied’ male action heroes of the period were reflective of the social and political thematics that distinguished Ronald Reagan's tenure as America's President (1994, p. 22). But while Jeffords' arguments are convincing, they overlook contemporaneous films featuring female and ‘soft’ bodied urban action heroes.
The Angel trilogy (Angel, 1984; Avenging Angel, 1985; and Angel III: The Final Chapter, 1988) features three such understudied examples. Indeed, the films' diverse and atypical range of action heroes demand that they are interrogated in terms of their protagonists' gender, sexual orientation, lifestyle choices and age. Featuring narratives about the prostitutes and street folk who frequent Los Angeles' Hollywood Boulevard, the films' key characters are a teenage prostitute and her guardians: a transvestite prostitute, a lesbian hotelier and an elderly cowboy. All three films feature narratives that revolve around acts of vengeance and vigilantism.
This chapter will critically discuss the striking ways in which the films' ‘soft’ bodied and atypical protagonists are presented as convincing action heroes who subvert contemporaneous ‘hard’ bodied norms. It will also consider to what extent their subversive rewriting of typical urban action film narratives and character relations might be understood to critique and deconstruct the themes and concerns that usually characterized such films during the Reagan era.
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Caroline Marchant and Stephanie O’Donohoe
Young people’s attachment to their smartphones is well-documented, with smartphones often described as prostheses. While prior studies typically assume a clear human/machine…
Abstract
Purpose
Young people’s attachment to their smartphones is well-documented, with smartphones often described as prostheses. While prior studies typically assume a clear human/machine divide, this paper aims to build on posthuman perspectives, exploring intercorporeality, the blurring of human/technology boundaries, between emerging adults and their smartphones. The paper aims to discuss these issues.
Design/methodology/approach
Drawing on assemblage theory, this interpretive study uses smartphone diaries and friendship pair/small group discussions with 27 British emerging adults.
Findings
Participants in this study are characterized as homo prostheticus, living with and through their phones, treating them as extensions of their mind and part of their selves as they navigated between their online and offline, private and social lives. Homo prostheticus was part of a broader assemblage or amalgamation of human and non-human components. As these components interacted with each other, the assemblage could be strengthened or weakened by various technological, personal and social factors.
Research limitations/implications
These qualitative findings are based on a particular sample at a particular point in time, within a particular culture. Further research could explore intercorporeality in human–smartphone relationships among other groups, in other cultures.
Originality/value
Although other studies have used prosthetic metaphors, this paper contributes to understanding of smartphones as a prostheses in the lives of emerging adults, highlighting intercorporeality as a key feature of homo prostheticus. It also uses assemblage theory to contextualize homo prostheticus and explores factors strengthening or weakening the broader human–smartphone assemblage.
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THIS month is that in which librarians of public libraries are concerned with budgets. In spite of occasional croakings, it is fair to say that the worst of the crisis is over…
Abstract
THIS month is that in which librarians of public libraries are concerned with budgets. In spite of occasional croakings, it is fair to say that the worst of the crisis is over, and, if prosperity is not here, it is at least on the way. It will be interesting to learn if the cuts which some libraries had to make in their appropriations will be continued this year. Libraries have demonstrated beyond disproof that they have played a part in the depression in raising some of the gloom from the minds of the people, and can make reasonable claim to have financial consideration of the fact. Fortunately, in our worst times, the grotesque cutting which public libraries in the United States were called to endure was not suffered here.
The British Prime Minister's Office has recently opened a Web site. Although it does contain selected Prime Minister's speeches, transcripts and interviews, Prime Ministers'…
Abstract
The British Prime Minister's Office has recently opened a Web site. Although it does contain selected Prime Minister's speeches, transcripts and interviews, Prime Ministers' biographies (back to Harold Macmillan at present), and a tour of Number 10, it is also an entry point to British executive department government sites. The Cabinet Ministers' Biography section contains information on 23 ministers and links to Cabinet Web sites. There is also a page of government department pointers.