The recognition of business opportunities is the first stage in the entrepreneurial process. This article analyses the effects of individuals’ possession of and access to knowledge on the probability of recognizing good business opportunities in their area of residence. The authors use an eclectic theoretical framework, consisting of intellectual and social capital concepts. In particular, they analyse the role of individuals’ educational level, their perception that they have the right knowledge and skills to start a business, whether they own and manage a firm, their contacts with other entrepreneurs, and whether they have been business angels. The hypotheses proposed here are tested using data collected for the GEM project in Spain in 2007. The results show that individuals’ access to external knowledge through the social networks in which they participate, is fundamental for developing the capacity to recognize new business opportunities.

PurposeGrounded in stewardship theory, this study explores the motives, actions and meanings of multiple stakeholders involved in an inter-family hospitality family firm succession.Design/methodology/approachA longitudinal, ethnographic case study approach collects data from 15 in-depth interviews, one year of observation and a one-month on-site internship.FindingsResults show that a well-defined succession plan and the active involvement of the successor/s in the succession process would foster a strong stewardship commitment to the family business. Moreover, a clear and open communication strategy is required to strategically manage rivalry and competition among potential successors during an inter-family succession.Originality/valueThe succession process of family firms remains an intensely discussed phenomenon, and despite its importance to the tourism and hospitality industry, the intersection between tourism and hospitality and family business literature is sparse. Notably, the tourism and hospitality literature lacks a multiple stakeholder perspective to holistically capture the motives, actions and meanings of numerous stakeholders involved in an inter-family succession.

Purpose: The expansion of coaching in firms reflects its potential use as a tool to improve the development of human capital and of the firm itself. Nevertheless, research into the effects of coaching is lagging some way behind practice and there is a need to establish a theoretical framework capable of explaining how the coaching process proceeds and its outcomes. The goal of this research is to analyze the effects of coaching in both, employees development, and organizational performance. Thus, we extend Joo's (2005) conceptual model by adding social exchange theory and the resource-based view, so as to to develop a model that allow us to investigate coaching.Design/methodology/approach: We test our model on a sample of 498 Spanish firms. The hypotheses were analyzed using structural equations modeling. Findings:Our results confirm that coaching has an influence on both individual performance and organizational performance indicators. Besides, social exchange theory and the resource-based view, are a proper frameworks so as to study the effects of coaching. Practical implications:Coaching also helps firms to improve their competitive position. maximise benefits and minimise costs. We highlight several tips for practitioners in order to develop properly coaching processes.-166-Intangible Capital -http://dx.doi.org/10.3926/ic.586 Originality/value: Coaching helps firms improve their competitive position via effects on organisational performance, sales increases and productivity growth.

Studies conducted on innovation in family businesses have offered very diverse and sometimes contradictory results. The objective of this paper is to analyze the influence of time-related variables on the innovative behavior of companies. Furthermore, we compare the behavior of family and non-family companies, the influence of the generation and the transference of management. To do this, companies are classified according to the stage of life in which they are and are compared using a mean difference test (Anova). Subsequently, already focused on family businesses, the effects of generating control in the case of family businesses are analyzed, considering the foundational and subsequent periods. The results show that the behavior towards the innovation of family businesses is conditioned by the temporal dimension.

Small and medium-sized enterprises (SMEs) are the predominant form of firm in the economy worldwide, so it is becoming increasingly important to understand the role they play in the green transition. It is urgent to understand how SMEs establish their goals that reorient their strategies and activities towards the creation of greater environmental value. From a stakeholder perspective, this study analyzes the environmental and social goals that create value in SMEs. We identify family influence as an important determinant for the establishment of environmental goals in SMEs that has not been sufficiently studied. We tested the hypotheses in a sample of 132 Spanish SMEs. Our findings indicate that setting social goals and having family characteristics have a direct positive effect on the environmental goals of SMEs. In addition, family influence positively moderates the effect of social goals, increasing its effect in the establishment of environmental goals for the creation of value in SMEs. This is due to the desire of family SMEs to increase their socio-emotional wealth and their transgenerational intention by incorporating the requirements of stakeholders. These findings highlight the importance of particularly considering the family characteristics of SMEs when analyzing the role that SMEs play in the green transition and should also be important for policy makers when designing environmental policies.