Search results

This paper aims to investigate whether the competitiveness of a certain territory may be developed and maintained in the context of a global economy through the exploitation of its intrinsic value. The paper contributes to managerial literature by embracing a systemic perspective using business models (BMs) and adapting the original Osterwalder and Pigneur’s (2010) framework (canvas) to the specific context of territorial development.

The paper proposes a conceptual framework placing the territory and its actors in a dominant position. This choice allows us to look at BMs as the instruments of success of an entire territory (instead of a single firm as typically assessed in managerial literature) – a cooperating system. To do so, the authors build on previous works on “triple” and “quadruple helix”, which, although primarily focused on technological innovation, may also be used for more general aims such as guiding the specialization of a specific territory and supporting its economic sustainability. The paper contends that a BM might be the instrument to orchestrate actors’ (helices) cooperation by combining the focus on territories with a systemic perspective. Through the implementation of a common BM, each system should be able to orchestrate policies implemented by the different leading forces of the territory to assist processes of economic development.

The paper extends the literature on BMs conceptually linking its roots to the existing managerial literature on territory governance and networks. It offers a dual range of outcomes: first, it provides public policy makers with useful guidelines with regard to political, institutional, educational and entrepreneurial choices to be implemented for the development of a given geographical area; second, it examines the relational network linking the various actors of a territory, which are key to its growth and success.

This paper offers a new way for recovering/sustaining economically depressed areas. To the authors’ knowledge, BMs have never been used at territorial level, but only at firm level. They believe that, through this new view of BMs, policy makers can help each territory to express its intrinsic and peculiar value. By combining BMs with the concepts of triple and quadruple helix, the authors offer a new way to look at how governments, educational institutions and firms can cooperate to help a territory in finding and improving its intrinsic specialization.

This paper aims to show the importance of introducing an integration manager (i.e. an executive position used to channel the acquiring firm’s course of action and strengthen the success of a post-acquisition integration process) within the acquiring firm’s board of directors.

This is a theoretical paper that introduces the integration manager within the board of privately held firms going internationally via acquisitions and serving as an “out-insider” director able to balance the conflicting demands of the previously separated entities during their integration process. The authors present an explanatory case study that empirically contributes to the board of directors’ design for internationalization.

The authors posit that the integration manager serves as an “out-insider” director of the board for privately held firms, possessed by large-block shareholders, going internationally via acquisitions, providing the necessary expertise and knowledge of the target firm’s products and industry.

The provided study aims to show that international acquisitions, even though apparently less risky than greenfield investments, may require additional neutral information flow – both within the due-diligence process and the post-acquisition integration – that only outsiders possess. Such an outsider has been individuated in the integration manager whose crucial role focuses on smoothing the pre- and post-acquisition integration processes.

There is growing interest in how hubris bias shapes managerial and entrepreneurial judgments and decisions and, in turn, firm strategy and performance. Based on a 44-years dataset of articles reaching the beginning of 2023, the authors offer a synthesis of hubris research published within business journals.

The authors implement a mixed-method approach offering a content representation of 600 peer-reviewed articles extracted from Scopus. The authors conduct a bibliometric investigation – employing Excel, VOSViewer and Biblioshiny software – and perform a qualitative review.

The analysis unveils four thematic clusters: hubris bias in financial policies (Cluster 1), hubris bias in restructuring deals (Cluster 2), hubris bias in entrepreneurial contexts (Cluster 3) and hubris bias in strategic decision-making (Cluster 4). Moreover, the authors infer that hubris research in business predominantly developed from three disciplinary perspectives – finance, entrepreneurship and strategic management – and progressed with limited interdisciplinary dialogue.

The authors call practitioners' attention to the impact of the hubris bias in forming financial, entrepreneurial and strategic choices. Managers get conscious of the risks of hubristic choices; hence, they implement organizational practices that move forward with unbiased (or less biased) judgments and decisions.

The authors offer an up-to-date and comprehensive view of hubris research in business. Furthermore, the authors provide an integrative framework and a research agenda.

This study aims to review family business branding research, elaborate a new framework integrating family business branding and corporate brand management literature and finally identify future research directions.

A bibliometric analysis was conducted to present the main research topics within family business branding.

The contributions of this study are threefold. First, this study maps the main themes of family business branding research and highlights its fragmented nature. Second, this study proposes an overarching framework based on signaling theory, attempts to bridge the family business branding and corporate brand management literature and provides a lead for future research. Third, this study stresses the role of brand construct in family business branding.

This study represents an important step in the identification of a new theoretical framework that best fits the investigation of family business branding.

Mergers and acquisitions (M&As) are a critical time for organizations and their consumers. For the company, there are many financial and non-financial risks. For customers, it requires deciding whether or not to continue the relationship that they had with the previous firm. This paper explores the extent to which communicating the family business (FB) brand, and the previous reputation of the acquirer affects customer perceptions and intentions after an M&A event.

Data for this study were collected from 159 Italian participants. We used a 2 (Communication of FB brand: Yes vs. No) by 3 (Reputation: positive, neutral, negative) between subjects’ experiment to test how the communication of the FB brand and the reputation of the acquirer affected perceived trustworthiness and service quality, and how this, in turn, influenced customer purchase intentions.

We find that communicating the FB brand does not influence consumer perceptions and intentions toward the acquired company. However, the previous reputation of the acquiring firm is critical in influencing consumer perceptions and intentions to buy.

Our study continues the growing research on M&A in family firms. It also increases our understanding of the boundary conditions of the FB brand effects, and the relevance that the previous reputation of a family firm can have in M&A scenarios. Finally, our study introduces the “Halo” and “Velcro” effects into the FB literature.

Cross‐border mergers and acquisitions present significant opportunities for firms wishing to diversify their activities geographically, learn new knowledge, and gain access to valuable resources. Cross‐border mergers and acquisitions present multiple challenges as well. These include the difficulty of evaluating target firms, cultural and institutional differences, and the liabilities of foreignness among others. We compare acquisitions to enter new markets with other market entry mechanisms (strategic alliances and greenfield ventures), and conclude with suggestions for future research to advance our knowledge of this strategy of increasing importance globally.

This chapter focuses on the human side of the integration phase between the acquiring and the acquired firms. We contribute to the M&A literature by sketching an analytical framework that unveils the main features of the champion of acquisitions and his/her strategic role as the individual (or group of individuals) accountable to lead the integration process between the two firms. To discern the champion of acquisitions, we propose the coexistence of a set of distinctive features such as: (1) the capability to achieve the full commitment of the integration teams; (2) a leader's personality able to guide change in the acquiring firm's desired direction; (3) networking capabilities to facilitate or reduce the two firms’ boundaries permeability; (4) communication skills and relational capabilities necessary to facilitate the interface activity between individuals who are critical to the integration phase; and (5) the knowledge of (and the access to) the power centers necessary to obtain the indispensable legitimacy of his/her roles and actions.

The purpose of this paper is to understand whether managerial behavior in impairing goodwill arising from M & As has changed after the adoption of IAS/IFRS, searching for evidences of earnings management (EM) practices. Thus, our goal is to provide a response to the following research questions. Are goodwill impairments used by listed firms’ managers to manipulate earnings? If so, what kind of EM practice is mostly used?

In this paper the authors tested the following hypothesis: H1. In the year of the deal’s closure and in the following four years, the management detects impairment of goodwill in difformity with the previous Italian regulations and related accounting practices. Moreover, the authors tried to determine, for each considered firms, potential symptoms of typical DEM practices widely debated in the financial accounting literature (income smoothing, income minimization, income minimization, or big bath accounting).

Our analysis does not prove evidence of certain EM practices, but it highlights very clearly that, after the adoption of IAS/IFRS, managers’ behavior has deeply changed. Moreover, the analysis shows that there is no univocal choice in favor of a specific EM practice and that every firm pursues its own “strategy.”

Considering the importance of the topic from both the perspectives of managerial (with regard to M & As valuation processes) and financial accounting (with regard to intangibles valuation fulfilled by applying the impairment test instead of the amortization), this work aims to provide a multi-dimensional contribution to the current debate.