Marc van Essen
Thumbnail Image
Title
Prof. Dr.
Last Name
van Essen
First name
Marc

Filters

1 1
2
Reset filters

Settings
Now showing 1 - 2 of 2
  • Publication
    Doing more with less: Innovation input and output in family firms
    (Academy of Management, 2016-08)
    Duran, Patricio
    ;
    Kammerlander, Nadine
    ;
    van Essen, Marc
    ;
    Zellweger, Thomas orcid-logo
    Family firms are often portrayed as an important yet conservative form of organization that is reluctant to invest in innovation; however, at the same time, evidence shows that family firms are still flourishing and that many of the world's most innovative firms are indeed family firms. Our study contributes to disentangling this puzzling effect. We argue that family firms-owing to the family's high level of control over the firm, wealth concentration, and importance of non-financial goals-invest less in innovation but have an increased conversion rate of innovation input into output and, ultimately, a higher innovation output than non-family firms. Empirical evidence from a meta-analysis based on 108 primary studies from 42 countries supports our hypotheses. We further argue and empirically show that the observed effects are even stronger when the CEO of the family firm is a later-generation family member. However, when the CEO of the family firm is the firm's founder, innovation input is higher and, contrary to our initial expectations, innovation output is lower than that in other firms. We further show that the family firm-innovation input/output relationships depend on country-level factors, namely, the level of minority shareholder protection and the education level of the workforce in the country.
    Type: journal article
    Journal: Academy of Management Journal
    Volume: 59
    Issue: 4
    DOI: 10.5465/amj.2014.0424
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/104081
    Scopus© Citations 614
  • Publication
    Competition and cooperation in corporate governance: The effects of labor institutions on blockholder effectiveness in 23 European countries
    (Informs, 2013-03)
    van Essen, Marc
    ;
    van Oosterhout, Hans
    ;
    Heugens, Pursey
    We provide an analysis of the costs and benefits of blockholding in Europe, where it is a dominant but certainly not universal corporate governance strategy for shareholders of publicly listed firms. We find that the effectiveness of blockholding is conditioned by the specific labor institutions that distinguish European countries from the rest of the world, and that these institutional effects involve both competition and cooperation between blockholders and collective labor interests. We also find that relational blockholders are better able to cope with, or benefit from, these institutional effects than arm's-length blockholders. Empirically we use advanced meta-analytic methods on a total sample of 748,569 firm-year observations, derived from 162 studies covering 23 European countries.
    Type: journal article
    Journal: Organization Science
    Volume: 24
    Issue: 2
    DOI: 10.1287/orsc.1120.0742
    URI: https://www.alexandria.unisg.ch/handle/20.500.14171/89586
    Scopus© Citations 50