Strategic dynamics and corporate governance effectiveness in a family firm

Abstract

This paper employs a case-study approach to address linkages between corporate governance and a firm‟s strategic dynamics. It investigates a family firm which moved from a state of crisis to a renewed growth and profitability stage to analyze how establishing appropriate governance practices may contribute to strategic renewal and value creation. Creating an effective system of corporate governance is a crucial task for all firms, requiring an appropriate balance between accountability and entrepreneurial dimensions to carry out the firm‟s strategies. Data reveal how corporate governance variations over time may help a family firm to move through its organizational life cycle, by creating an appropriate fit with the evolving strategic needs

Adapt or Perish ! A Systematic Review of the Literature on Strategic Renewal and the Family Firm

“…Among the studies included in the first group (9 studies), the 55.56% of qualitative designs are in-depth single cases (Di Toma, 2012;Jones et al, 2013;Németh et al, 2017;Sievinen et al, 2020aSievinen et al, , 2020c, with the 44.44% of designs being multiple case studies (Anggadwita et al, 2022;Lionzo & Rossignoli 2013;Mzid et al, 2019;Sievinen et al, 2020b). The second group of empirical studies comprises those studies that apply quantitative methodologies (9 studies).…”

“…Regarding sample diversity (see Table 3), only Au et al (2018) and Issah et al (2023), have researched firms from more than one country, 26 and 69 countries respectively. In the case of Issah et al (2023), they used data from a global survey conducted by the Successful Transgenerational Entrepreneurship Practices (STEP) global consortium, which is an independent association with members from universities around the world.The remaining empirical papers have researched firms from only one country, with Finland (Sievinen et al, 2020a(Sievinen et al, , 2020b(Sievinen et al, , 2020c, Italy (Cucculelli et al, 2016;Di Toma, 2012;Lionzo & Rossignoli, 2013) and Vietnam (Giang & Dung, 2021;Huynh, 2021;Luu, 2022) being the most researched countries (with 16.67% of empirical studies studying each country), followed Spain (Pérez-Pérez et al, 2019; Pérez-Pérez & Hernández-Linares, 2020), researched by the 11.11% of the studies included in our literature review. Other countries researched are Germany (Weimann et al, 2021), Hungary (Németh et al, 2017), Indonesia (Anggadwita et al, 2022), Tunisia (Mzid et al, 2019), and United Kingdom (Jones et al, 2013).…”

Corporate Governance and ERM for SMEs Viability in Italy

“…The widespread style of entrepreneurship that characterises the Italian productive sector, but also of many other countries, leads to the existence of a very high number of small businesses typically run by one or a small number of people who over time identify completely with the company they founded, thus becoming themselves the absolute centre of their entrepreneurial creature. It's a business governance model that often struggles to change even when the business gains market recognition and thus the size of the company grows at the same pace as the complexity which is to be managed [14]. The fear of opening up their management model and listening to Corporate Governance and ERM for SMEs Viability in Italy DOI: http://dx.doi.org/10.5772/intechopen.96688 instructions from others who introduce new and different skills in many cases wins out, despite the numerous external stimuli [15].…”