International entrepreneurship and Mexican listed family firms’ CEO/Board characteristics

Abstract

The objective of this research is to analyze the influence on international entrepreneurship of both Chief Executive Officers (CEOs) and board of directors' traits. It takes into account 52 listed family firms in Mexico (2001Mexico ( -2015, an emerging market where ownership concentration is particularly high. Results obtained from a binary probit model show that family involvement reduces the odds of pursuing foreign endeavors. However, when the CEO has a business administration academic background, the probability of having subsidiaries or branches abroad rises considerably. Finally, there is evidence that the presence of women on boards reduces the odds of international entrepreneurship. Emprendimiento internacional y características de los Consejos de Administración y Directores Generales de las empresas familiares listadas en MéxicoResumen El objetivo de este trabajo es analizar la influencia tanto de características de los Directores Generales (CEO, por su sigla en inglés) como de los consejos de administración, en el emprendimiento internacional. Se contemplan 52 empresas familiares listadas en México (2001México ( -2015, un mercado emergente donde la concentración de la propiedad es particularmente alta. Los resultados obtenidos a partir de un modelo probit binario muestran que la participación de la familia reduce las probabilidades de internacionalización. No obstante, cuando el CEO tiene formación académica en negocios, la probabilidad de tener filiales o sucursales en el extranjero aumenta. Finalmente, hay evidencia que la presencia de mujeres en los consejos reduce las probabilidades de emprendimiento internacional.Palabras clave: análisis cuantitativo, emprendimiento internacional, empresa familiar, México. Empreendedorismo internacional de empresas familiares mexicanas listadas e características do CEO / Conselho de administraçãoResumo O objetivo deste trabalho é analisar a influência das características dos Gerentes Gerais (CEO) e dos conselhos de administração, no empreendedorismo internacional. Existem 52 empresas familiares listadas no México (2001México ( -2015, um mercado emergente onde a concentração de propriedades é particularmente alta. Os resultados obtidos a partir de um modelo probit binário mostram que a participação da família reduz as chances de internacionalização. No entanto, quando o CEO tem uma formação acadêmica nos negócios, a probabilidade de ter subsidiárias ou filiais no exterior aumenta. Finalmente, há evidências de que a presença de mulheres nos conselhos reduz as chances de empreendedorismo internacional. Palavras-chave: analise quantitativa, empreendedorismo internacional, empresa familiar, México.

A systematic international entrepreneurship review and future research agenda

“…(2013) demonstrate how family ownership may generate opportunities for IE, given this derives from the external exploration of expertise and social capital developed within a domestic ambience. Contrarily, Watkins-Fassler and Rodríguez-Ariza (2019) conclude that family participation reduces the possibilities of internationalisation, despite CEOs with high levels of education increasing the probability of operating subsidiaries abroad.…”

“…There then follows the studies approaching family businesses as a controversial theme in the literature (Colli et al. , 2013; Sciascia and Mazzola, 2012; Watkins-Fassler and Rodríguez-Ariza, 2019). Family ownership presents several benefits and disadvantages for internationalisation.…”

“…Both concepts are useful to fostering business involvement abroad and better capitalizing on international opportunities and as potential drivers of international expansion, thus becoming a relevant topic to IE researchers (as stated by Coviello et al, 2011). The literature are also addresses the controversial international propensity of family businesses (Chen et al, 2016;Colli et al, 2013;Mitter and Hiebl, 2017;Sciascia and Mazzola, 2012;Watkins-Fassler and Rodr ıguez-Ariza, 2019) and the relevance of digital media to internationalisation (Chiu, 2011;Dillon et al, 2020;Vadana et al, 2020), although to a lesser extent.…”

“…, 2016; Colli et al. , 2013; Mitter and Hiebl, 2017; Sciascia and Mazzola, 2012; Watkins-Fassler and Rodríguez-Ariza, 2019) and the relevance of digital media to internationalisation (Chiu, 2011; Dillon et al. , 2020; Vadana et al.…”

Mapping women's involvement in family firms: A review based on bibliographic coupling analysis

“…However, other studies in emerging markets show a negative impact of family ownership on the proportion of female directors, although this relationship is reversed if the firm operates in international markets (Saeed et al., 2017*) or in the high‐tech sector (Saeed et al., 2021*). Watkins‐Fassler and Rodríguez‐Ariza (2019*) provide evidence that family involvement and the presence of women on boards reduce the odds of internationalization, while according to Hernández‐Lara and Gonzales‐Bustos (2020*), the proportion of women on boards has a positive influence on innovation.…”