Differences and similarities in executive hiring decisions of family and non-family firms

Fabel, Oliver; Minarikova, Dana; Hopp, Christian

doi:10.1016/j.jfbs.2021.100481

Cited by 9 publications

(5 citation statements)

References 109 publications

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“…, 2007), and one of the biggest challenges for Hungarian family firms is to integrate external, professional managers into the management (Vajdovich et al. , 2022) who could bring in new expertise they currently do not possess (Fabel et al. , 2022).…”

Section: Discussionmentioning

confidence: 99%

“…Our study showed that preserving the family identity is vital for family reasons, but applying professional managerial configurations is also important in terms of growth and competitiveness. Managerial skills play a critical role and have a major effect on the value creation to customers (Sirmon et al, 2007), and one of the biggest challenges for Hungarian family firms is to integrate external, professional managers into the management (Vajdovich et al, 2022) who could bring in new expertise they currently do not possess (Fabel et al, 2022).…”

Section: Discussionmentioning

confidence: 99%

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Relationship between different resource and capability configurations and competitiveness – comparative study of Hungarian family and nonfamily firms

Kárpáti,

Ferincz,

Felsmann

2023

JFBM

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PurposeThe purpose of this paper is to identify different types of resource and capability configurations among Hungarian family and nonfamily firms and explore which compositions can be considered competitive. In a rivalrous, dynamic world, understanding which sets of resources and capabilities lead to a higher level of competitiveness is vital.Design/methodology/approachThis paper is based on a quantitative competitiveness survey carried out between November 2018 and July 2019 in Hungary. The authors used the Firm Competitiveness Index (FCI) to measure competitiveness and the resource-based view (RBV) approach to understand which configurations of resources and capabilities are responsible for a higher level of competitiveness based on 32 variables. An exploratory factor and cluster analysis were conducted to analyze the ownership's effect on firm competitiveness. The final sample size contained 111 companies, of which 53 were identified as family and 58 as nonfamily firms.FindingsFactor analysis reveals five factors determining resources and capabilities: “operational,” “leadership,” “knowledge management,” “transformation” and “networking.” Based on these factors, the cluster analysis identified five groups in terms of types of family and nonfamily firms: “Lagging capabilities,” “Knowledge-based leadership,” “Innovativeness and transformation-oriented management,” “Relationship-oriented management” and “Business operation-oriented management.” Results show that nonfamily businesses focus on operational and leadership capabilities, reaching a higher FCI than family businesses, which are likely to invest more in their networking, transformation and knowledge management capabilities.Originality/valueBy defining the different configurations family and nonfamily firms rely on to reach competitiveness, the paper applies an essential element to the Hungarian and Middle Eastern European contexts of family business research. The findings contribute to developing family business literature and point out specific resources and capabilities family firms should focus on to shift toward reaching a higher level of professionalization and competitiveness. The characterization of different types of competitiveness comparing family and nonfamily firms enables the firms to assess customized implications.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

Relationship between different resource and capability configurations and competitiveness – comparative study of Hungarian family and nonfamily firms

Kárpáti,

Ferincz,

Felsmann

2023

JFBM

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“…A rendszerekben gondolkodás, a digitalizáció, a papíralapú működés elhagyása minimumkritériuma a fejlődésnek. Külső menedzserek bevonása a szervezetbe hozhat olyan új kompetenciákat és szakértelmet, amelyekkel a vállalat korábban nem rendelkezett (Fabel, Mináriková & Hopp, 2022) vállalatirányítás ily módon történő professzionalizációját (Vajdovich, Heidrich, Németh & Németh, 2022). Ez jelenleg egy olyan gát a vállalati növekedésben, amelyre mindenképpen több figyelmet kell fordítania a hazai cégeknek.…”

Section: Gyakorlati Következtetésekunclassified

A professzionalizáció szerepe a hazai közepes méretű családi vállalatok versenyképességében

Kárpáti,

Ferincz

2024

Veztud

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Jelen tanulmány célja a professzionalizáció szerepének vizsgálata a hazai közepes méretű családi és nem-családi vállalatok versenyképességében. Számos hazai tanulmány foglalkozott már a kis- és közepes méretű vállalkozások versenyképességével, ám kevés tett közülük különbséget családi és nem-családi között. A szerzők kutatása a családi vállalatok professzionalizációjára és az erőforrás-alapú elméletre épít, feltárva a családi és nem-családi cégek különböző erőforrás- és képességkombinációit, valamint eltérő típusú stratégiájukat a versenyképességüket tekintve. A Budapesti Corvinus Egyetem Versenyképesség Kutatóközpont adatbázisán azonosították a családi vállalatok professzionalizációjával kapcsolatos változókat, amelyeken főkomponens majd klaszterelemzést végeztek. A kapott eredményeket összevetették a Vállalati Versenyképességi Index-szel. Az eredmények azt mutatják, hogy a családi cégek a kapcsolatépítésre, tudásmenedzsment és innovációs képességeikre, míg a nem-családi versenytársaik a működési kiválóságra és vezetői képességeikre koncentrálnak. Jelen mintában a nem-családi cégek értek el magasabb professzionalizációs szintet és versenyképességi értéket, ám ez nem jelenti azt, hogy a családi tulajdonban lévők ne lehetnének versenyképesek.

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“…ere are some studies on how to understand the difference between family and nonfamily firms [8][9][10], but there is abundant work on the ways in which family firms become nonfamily firms and the outcomes of doing so.…”

Section: Literature Review and Hypothesesmentioning

confidence: 99%

Family Exit and Firms’ Investment Efficiency Based on Dynamic Changes: Evidence from Chinese Family Firms

Wang

Peng

Song

2022

Computational Intelligence and Neuroscience

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This study provides evidence about the influence of family exit on firms’ investment efficiency using a sample of 6,842 firm-year observations of Chinese family (and family-exiting) firms from 2003 to 2019. Based on panel data, we find that family exit has negative effects on firms’ investment efficiency. Further analysis also indicates that family exit can decrease firms’ investment efficiency under low investment levels and increase their investment efficiency under high investment levels. We test the market reaction when family members are punished by the SEC and find that the market’s reaction is significantly negative, which implies that the capital market cares about family managers and controllers.

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Differences and similarities in executive hiring decisions of family and non-family firms

Cited by 9 publications

References 109 publications

Relationship between different resource and capability configurations and competitiveness – comparative study of Hungarian family and nonfamily firms

Relationship between different resource and capability configurations and competitiveness – comparative study of Hungarian family and nonfamily firms

A professzionalizáció szerepe a hazai közepes méretű családi vállalatok versenyképességében

Family Exit and Firms’ Investment Efficiency Based on Dynamic Changes: Evidence from Chinese Family Firms

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