How family firm advisors understand their clients: a mixed-methods analysis of social capital signaling in web-based marketing

Randolph, Robert; Kushins, Eric; Gala, Prachi

doi:10.1108/jfbm-04-2023-0056

Cited by 4 publications

(1 citation statement)

References 74 publications

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“…It means that the next significant practical implication for FAs is the necessity to concentrate on creating a diversified portfolio of succession projects. This aligns with the findings of Randolph et al. (2023) who suggested that advisors' marketing through websites is not the most effective way to reach family business owners.…”

Section: Discussionsupporting

confidence: 87%

Formal advisors and succession process in family firms

Wojtyra-Perlejewska,

Koładkiewicz

2023

JFBM

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PurposeThis study explores the roles of formal advisors (FAs) in the succession process of family firms and the factors that determine them.Design/methodology/approachData for this study were collected through interviews with 38 FAs, including lawyers, tax advisors, financial ad-visors and others.FindingsFAs play multiple roles simultaneously in succession processes (both internal and external), which the authors call role hybridity. Among them, the authors differentiated roles, such as educators, sherpas, initiators, experts, managers, consiglieres and protectors. Additionally, the authors demonstrated that the critical factors shaping these roles are trust, communication, human capital and willingness to take on the role. To explain the role hybridity phenomenon, the authors used stewardship theory's assumptions and formulated propositions for further research.Originality/valueThis study provides insight into both internal and external succession processes from the perspective of various types of FAs. The authors indicate their roles and the factors that determine them.

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Section: Discussionsupporting

confidence: 87%

Formal advisors and succession process in family firms

Wojtyra-Perlejewska,

Koładkiewicz

2023

JFBM

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SME familiness and the use of external accountants as advisors: performance implications

Sırdar,

Kiessling,

Dabic

et al. 2024

IJEBR

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Purpose Past research is mixed on family small and medium-sized enterprises’ (SMEs) use of external advisors and the limited empirical evidence is confined to developed markets. Drawing on the knowledge-based view of the firm, this research focuses on the “familiness” characteristic of SMEs and their use of external accountants as advisors in an emerging marketplace. Using internal resources for basic tasks is proposed to strengthen this relationship from a managerial cognition lens. Focusing also on SME internalization, this research probes the performance ramifications of using external accountants as advisors.Design/methodology/approach Hierarchical regression is used to test the hypotheses. The mediation hypothesis is tested by bootstrapping the indirect effect. The interaction hypothesis is visualized with simple slope analysis.Findings The results indicate that the familiness of SMEs is positively associated with the use of external advisors, and thereby, with high performance. SMEs with higher international exposure also use these external advisors to a greater degree. Family SMEs that have a focused use of internal resources for basic tasks benefit more from the use of external accountants for advising tasks.Originality/value This research sheds light on how family involvement in management influences firm performance, showing the moderating role of the use of internal advisors for basic tasks and the mediating role of the use of external accountants for advising. We add to the knowledge-based view by describing how family SMEs can utilize internal and external knowledge resources simultaneously.

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Impact of social capital on business performance women entrepreneurs in the food sector: the moderating role of national culture

Paul,

Amin

2024

JADEE

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PurposeThe role of women entrepreneurs in the food industry is becoming increasingly significant, as this sector is dynamic and competitive. This study seeks to enhance theoretical comprehension by assessing the role of social capital on business performance through mediating role of network resources and moderating role of national culture.Design/methodology/approachThe researchers have employed a cross-sectional causal design for this analysis. This research methodology enables us to examine the intricate interrelationships among several variables in the domain of female entrepreneurs in the food industry. The study included 403 female entrepreneurs actively engaged in the food industry.FindingsThe results indicate that a firm's internal and external social capital investments positively influence network resource acquisition. In addition, network resource acquisition positively affects business performance in women-led food enterprises and mediates the relationship between social capital and business performance. Moreover, national culture moderates the association between social capital and business performance.Research limitations/implicationsThe study is limited by its narrow focus on the food sector industry and its restriction to the geographic location of India, hence reducing its generalizability.Originality/valueThis study significantly contributes to the existing body of knowledge in entrepreneurship and social network research. This study deviates from previous research by introducing a strategic intermediate variable called network resource acquisition between social capital and business performance. Moreover, the moderating role of national culture, which has been understudied in previous works, has also been examined in the proposed research framework.

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How family firm advisors understand their clients: a mixed-methods analysis of social capital signaling in web-based marketing

Cited by 4 publications

References 74 publications

Formal advisors and succession process in family firms

Formal advisors and succession process in family firms

SME familiness and the use of external accountants as advisors: performance implications

Impact of social capital on business performance women entrepreneurs in the food sector: the moderating role of national culture

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