Now showing 1 - 10 of 25
  • Publication
    Measuring the social identity of entrepreneurs: Scale development and international validation
    (Elsevier Science Publ., 2016-09) ;
    Gruber, Marc
    ;
    Fauchart, Emmanuelle
    ;
    Social identity theory offers an important lens to improve understanding of founders as enterprising individuals, the venture creation process, and its outcomes. Yet, further advances are hindered by the lack of valid scales to measure founders' social identities. Drawing on social identity theory and a systematic classification of founders' social identities (Darwinians, Communitarians, and Missionaries), we develop and test a corresponding 15-item scale in the Alpine region and validate it in 13 additional countries and regions. The scale allows identifying founders' social identities and relating them to processes and outcomes in entrepreneurship. The scale is available online in 16 languages.
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 130
  • Publication
    Value Creation in Family Firms: A Model of Fit
    (Elsevier, 2015-06) ; ;
    Voordeckers, Wim
    ;
    We propose a framework describing how family ownership can create or destroy value depending on the goals, resources, and governance of the family firm, which are each influenced by the family owners. Taking a contingency perspective, we suggest that a fit is required for all three elements - family-influenced goals, resources, and governance - for the family firm to flourish over generations. We conclude with a suggested research agenda indicating research opportunities at the nexus of these identified elements. Further we provide some guiding questions for practitioners that might stimulate fruitful discussions among family firm owners and managers about how to realize "fit."
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 48
  • Publication
    How Much Am I Expected to Pay for My Parents' Firm? An Institutional Logics Perspective on Family Discounts
    (Wiley-Blackwell SSH, 2015-03-24) ; ; ;
    Patel, Pankaj C.
    Recent evidence suggests that successors do not simply inherit their parents' firm, but have to pay a certain price. Building on institutional logics literature, we explore successors' family discount expectations, defined as the rebate expected from parents in comparison to nonfamily buyers when assuming control of the firm. We find that family cohesion increases discount expectations while successors' fear of failure and family equity stake in the firm decrease discount expectations. Higher education in business or economics weakens these effects. On average, in our study comprised of 16 countries, successors expect a 57% family discount.
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 37
  • Publication
    Turning Agents into Psychological Principals: Aligning Interests of Non-Owners Through Psychological Ownership
    (Wiley-Blackwell, 2013-05) ; ;
    Aquino, Karl
    Principals who delegate tasks to agents face the perennial challenge of overcoming agency problems. We investigate whether feelings of ownership among senior managers in the absence of formal ownership can align agents' interests with those of principals, thus turning agents into psychological principals. Using a moderated mediation model, we find that psychological ownership is positively related to company performance through the mediating effect of individual-level entrepreneurial behaviour. We also find that the effect of psychological ownership on individual-level entrepreneurial behaviour and, ultimately, company performance is weaker for high levels of monitoring compared to low levels. These findings offer important contributions to agency, psychological ownership, and entrepreneurship literatures.
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 99
  • Publication
    Entrepreneurial Orientation in long-lived Family Firms
    (Springer Science, 2012-01) ;
    We apply a key construct from the entrepreneurship field, entrepreneurial orientation (EO), in the context of long-lived family firms. Our qualitative in-depth case studies show that a permanently high level of the five EO dimensions is not a necessary condition for long-term success, as traditional entrepreneurship and EO literature implicitly suggest. Rather, we claim that the level of EO is dynamically adapted over time and that the original EO scales (autonomy, innovativeness, risk taking, proactiveness, and competitive aggressiveness) do not sufficiently capture the full extent of entrepreneurial behaviors in long-lived family firms. Based on these considerations we suggest extending the existing EO scales to provide a more fine-grained depiction of firm-level corporate entrepreneurship in long-lived family firms
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 282
  • Publication
    Portfolio Entrepreneurship in Family Firms: A Resource-based Perspective
    (Wiley, 2011-12-01) ; ;
    Nason, Robert
    ;
    Clinton, Eric
    The phenomenon of portfolio entrepreneurship has attracted considerable scholarly attention and is particularly relevant in the family firm context. However, there is a lack of knowledge of the process through which portfolio entrepreneurship develops in family firms. We address this gap by analyzing four in-depth, longitudinal family firm case studies from Europe and Latin America. Using a resource-based perspective, we identify six distinct resource categories that are relevant to the portfolio entrepreneurship process. Furthermore, we reveal that their importance varies across time. Our resulting resource-based process model of portfolio entrepreneurship in family firms makes valuable contributions to both theory and practice
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 132
  • Publication
    Should I stay or should I go? Career choice intentions of students with family business background
    Personal and motivational patterns of intentional founders have been researched in great depth; however, antecedents to career choices of intentional successors have been conspicuously missing in entrepreneurship research. By drawing on theory of planned behavior, we investigate how intentional founders, successors, and employees differ in terms of locus of control and entrepreneurial self-efficacy as well as independence and innovation motives. We find that transitive likelihood of career intent depends on degree of entrepreneurial self-efficacy and the independence motive. Unexpectedly, we see that high levels of internal locus of control lead to a preference of employment, which challenges traditional entrepreneurship research and suggests that the feasibility of an entrepreneurial career path does not automatically make it desirable. Our findings suggests that students with family business background are pessimistic about being in control, but optimistic about their efficacy to pursue an entrepreneurial career
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 460
  • Publication
    Succession Intentions Across the Globe: The Role of Institutional Factors
    While succession intentions have received increasing scholarly attention in recent years, there is a lack of knowledge about country-level antecedents and differences. Our paper aims to close this gap by investigating succession intentions of 6,360 students with family business background from 26 countries. More specifically, we blend theory of planned behavior with institutional theory and find that institutional variables such as individualism, uncertainty avoidance, and the level of corruption explain the formation of succession intentions over and above traditional theory of planned behavior elements. In addition, we reveal a U-shaped relationship between a nation's level of economic development and the strength of succession intentions. This indicates the existence of two types of succession intentions: necessity and opportunity succession. These findings add valuable insights to literature on family businesses, succession, theory of planned behavior, and practice.
  • Publication
    How much and what kind of entrepreneurial orientation is needed for family business continuity?
    (International Family Enterprise Research Academy (IFERA), 2008-07-02) ;
    Mühlebach, Corinne
    ;
    The present paper examines to what degree the Entrepreneurial Orientation (EO) construct is prolific in explaining business activity of firms with a transgenerational outlook. In particular, we are challenging the fundamental claim by entrepreneurship scholars that the more entrepreneurial a firm is, hence the higher it scores in the five EO dimensions, the more successful it should be in the long-run.
  • Publication
    IFERA Conference Proceedings 2013 : Ownership, Governance and Value in Family Firms
    IFERA is pleased to present this rich compilation of research paper abstracts being presented during this year?s conference. The program content highlights the fact that the field of family business research continues to grow in a variety of ways ? in content, in quality, in diversity of thoughts, methods, and geographical origin and reach, as well as in rigor and relevance. This book of proceedings is an inspiring catalog of fresh ideas, emerging voices, as well as a map of the trajectory of our field that connects us to our past. It also fills me with a degree of optimism ? as long as we honestly and fearlessly pursue the questions that we are most passionate about, and subject our ideas to scrutiny and debate in a respectful manner, we will continue to develop rigorous and useful knowledge to help business families and family businesses all over the world.
    Type:
    Volume:
    Issue: