Family Management and Internationalization: The Impact on Firm Performance and Innovation

Tsao, Shou Min; Lien, Wei Hao

doi:10.1007/s11575-011-0125-9

Cited by 91 publications

(65 citation statements)

References 69 publications

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“…Our analysis of 37 journal publications on collaborations in family firms shows that existing research ranges from micro factors such as family involvement (Nieto et al, 2015;Pittino et al, 2013) to macro factors like network (Anderson et al, 2005;Carney, 2005;Gurrieri, 2008;Kontinen & Ojala, 2011;Li et al, 2015;Miller et al, 2009;Zahra, 2010;Zamudio et al, 2014), samples include small-to-medium enterprises (SMEs) (e.g., Alberti et al, 2014;Classen et al, 2012;Yeoh, 2014), private firms (e.g., Gurrieri, 2008;Miller et al, 2009;Sorenson et al, 2008), and publicly listed firms (e.g., Singh & Gaur, 2013;Tsao & Lien, 2013), across different industries including both primary and secondary data. With the distinct characteristics of family firms, some studies incorporate theoretical perspectives such as agency theory, behavioral theory, socioemotional wealth (SEW), and social capital to explain the relationship between unique family firm characteristics and collaborative innovation.…”

Section: Methodological Empirical and Theoretical Issuesmentioning

confidence: 99%

“…The studies are also quite evenly distributed between primary and secondary data. In terms of geographical coverage, the studies cover a wide range of regions: Asia (Carney, 2005), Austria (Hatak & Hyslop, 2015), Belgium and Netherlands (Classen et al, 2012), China (Deng et al, 2013;Li et al, 2015), Emerging markets (Kim et al, 2004), across EU countries (Broekaert et al, 2016), Finland (Kontinen & Ojala, 2011;Kraus et al, 2012), France (Sirmon et al, 2008), Germany (Block & Spiegel, 2013;Harms et al, 2015), India (Pant & Rajadhyaksha, 1996;Singh & Gaur, 2013), Italy (Alberti et al, 2014;Cassia et al, 2012;Denicolai et al, 2015;Gurrieri, 2008;Pittino & Visintin, 2011;Pittino et al, 2013), Korea (Miller et al, 2009), Malaysia (Yeoh, 2014), Scotland (Anderson et al, 2005), Spain (Gómez-Mejía et al, 2007;Hausman, 2005;Nieto et al, 2015;Serrano-Bedia et al, 2016;Pérez, 2007), Taiwan (Tsao & Lien, 2013), and US (Hausman, 2005;Sorenson et al, 2008;Spriggs et al, 2012;Stanley & McDowell, 2014;Zahra, 2010).…”

Section: Methodological Empirical and Theoretical Issuesmentioning

confidence: 99%

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Collaborative innovation in family firms: Past research, current debates and agenda for future research

Feranita

Kotlar

Massis

2017

Journal of Family Business Strategy

168

158

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Collaborative innovation can boost family firms' innovation performance by enabling them to tackle their resource constrains and tap into knowledge, financial capital, technology, and information from other organizations. Unfortunately, existing research on collaborative innovation in family firms is still in its infancy. We systematically review and organize fragmented findings and arguments from prior research along three perspectives: strategic, transactional, and relational. In doing so, we provide a summary of the current state-of-the-art in this literature, point to the importance of collaborative innovation to resolve the innovation dilemma in family firms and identify promising opportunities for future research.

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Section: Methodological Empirical and Theoretical Issuesmentioning

confidence: 99%

Section: Methodological Empirical and Theoretical Issuesmentioning

confidence: 99%

Collaborative innovation in family firms: Past research, current debates and agenda for future research

Feranita

Kotlar

Massis

2017

Journal of Family Business Strategy

168

158

View full text Add to dashboard Cite

show abstract

“…The literature research reveals that to assess the financial aspects of organisational performance, researchers generally use either accounting-based measures, such as profitability, sales growth, return on assets (ROA), return on sales (ROS), return on equity (ROE) and/or ROI, or stock market measures, such as Tobin's Q and price earning (P/E) ratio (Hult et al 2008;Likar et al 2014;Nawaz, Hassan & Shaukat 2014;Tsao & Lien 2013). …”

Section: Financial Performance Measurementmentioning

confidence: 99%

Innovation and organisational performance: A critical review of the instruments used to measure organisational performance

Sethibe

Steyn

2016

SAJESBM

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Background: Innovation is recognised as one of the most important determinant of organisational performance. Yet, the results of studies that investigate the relationship between innovation and organisational performance are inconclusive. The inconsistency has been attributed to a number of factors, which include, among others, the measures used to evaluate organisational performance.Aim: This study was set out to identify, categorise and critically analyse the instruments used to assess organisational performance when investigating the relationship between innovation and organisational performance.Setting: The study focuses on all scientific publications reporting on organisational performance, inclusive of both financial and non-financial indicators of performance, and are not limited to any specific country or industry.Methods: The systematic literature review methodology was used to identify studies which investigated the relationship between innovation and organisational performance. Once identified, articles were analysed on the way organisational performance was measured. Classification was done with reference to financial and non-financial indicators, accounting and market-based, as well as objective and subjective measures.Results: The findings show that profitability, sales growth and return on assets (ROA) are the most preferred accounting-based financial measures of organisation performance. In addition, Tobin’s Q was found to be the most favoured market-based financial measure of organisational performance. The study further reveals that market share, customer satisfaction and productivity are the most popular non-financial-based measures of organisational performance.Conclusion: The use of measures of organisational performance is often left to the discussion of the researcher, which is not implicitly wrong, but does little to contribute to the body of knowledge on this important topic. Researchers are firstly urged to clearly define which aspects of organisational performance they intend to study, secondly to use established instruments or often used indicators of organisational performance, and thirdly to combine both objective and subjective measures of organisational performance. This would allow for researchers to build on the work of other and strengthen the body of knowledge in this area.

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“…Although the use of control variables is the standard approach in the literature for studies in other sectors (see for instance Hsu, Pereira 2008;Tsao, Lien 2013), previous studies in the CI did not use control variables to moderate the relationship between strategy and performance. The control variables used in our empirical analysis relate to company age, company size, and time.…”

Section: Truncated Regression To Analyze the Impact Of Strategies On mentioning

confidence: 99%

The Impact of Internationalization and Diversification on Construction Industry Performance

Horta

Kapelko

Camanho

2016

International Journal of Strategic Property Management

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This paper investigates the impact of internationalization and diversification strategies on the financial performance of construction industry companies. The results obtained can guide the design of strategies to pursue company growth and achieve competitive advantage. The evaluation of companies' performance is based on the use of the Data Envelopment Analysis technique to aggregate financial indicators using optimized weights. The impact of internationalization and diversification on company performance is explored using truncated regression, controlling for the effect of contextual factors such as company age, size and time. Data Envelopment Analysis and truncated regression were complemented with bootstrapping to ensure the robustness of the results obtained. The activity of Portuguese and Spanish contractors in the period 2002 to 2011 is used as case study. The empirical results show that internationalization has a positive impact on financial performance, although this effect is only statistically significant for Spanish contractors. Diversification has a nonlinear relationship with performance, benefiting companies with either a small number of core activities or companies with a broad scope of activities.

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Family Management and Internationalization: The Impact on Firm Performance and Innovation

Cited by 91 publications

References 69 publications

Collaborative innovation in family firms: Past research, current debates and agenda for future research

Collaborative innovation in family firms: Past research, current debates and agenda for future research

Innovation and organisational performance: A critical review of the instruments used to measure organisational performance

The Impact of Internationalization and Diversification on Construction Industry Performance

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