Sustainability Strategy and Management Control Systems in Family Firms. Evidence from a Case Study

Caputo, Fabio; Veltri, Stefania; Venturelli, Andrea

doi:10.3390/su9060977

Cited by 36 publications

(37 citation statements)

References 78 publications

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“…This is particularly interesting as family firms are assumed to more likely act in the interests of their stakeholders [64] and in a more sustainable way [18,64]. Our paper also helps to understanding the agency relationships within small firms and how some moderator variables affect diversification decisions, which could be part of the reasons of their success or failure.…”

Section: Discussionmentioning

confidence: 98%

“…As their study was framed in an economy context, organizational variables such as separation of ownership and management, the effect of having family employees or having related managers were not taken into account. From our results it seems that family-related variables influence the decision making of fishing firms which is of high relevance given that family firms tend to be more compliant in respecting environmental standards than their counterparts [18] and that there are many family firms among vessels in small-scale fisheries.…”

Section: Introductionmentioning

confidence: 93%

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Family Involvement and Sustainable Family Business: Analysing Their Effects on Diversification Strategies

Herrero

2017

Sustainability

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Recent studies have noted that traditional agency theory and risk attitudes differ when firms are small and have a family character. In this work, we provide new insights with respect to the effect that the family role and the different types of risk exert on diversification strategies. We provide a different view on the effect that the number of generations and having a family manager exert on diversification attitudes and we analyse the concept of family involvement for small family firms and the moderating role it has in the relationship between the different types of risk and diversification decisions. By using a behavioural model analysis and a set of fishing firms to test our hypotheses, our results corroborate the importance of family variables on the behaviour of small family firms and how these firms avoid risk under certain stable conditions while take riskier decisions when sustainability and survivability is menaced by unstable environments. We not only provide theoretical reasons that help to the understanding of diversification decisions of small family firms but we also draw some specific conclusions that will help fishery managers to achieve more sustainable fisheries by a better understanding of fishers behaviours.

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Section: Discussionmentioning

confidence: 98%

Section: Introductionmentioning

confidence: 93%

Family Involvement and Sustainable Family Business: Analysing Their Effects on Diversification Strategies

Herrero

2017

Sustainability

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“…Many of the previous studies have examined the factors influencing SMA and SR. Adams and McNicholas [43] studied SR in relation to accountability and organizational change and identified the impediments to the development of SR framework and its integration into planning and decision making. Gond et al [44] developed a research framework that delineated a set of possible relationships between sustainability issues, management accounting, reporting, control, and organizational strategy, while Caputo et al [45] investigated how traditional and new MA tools and management control systems may be integrated into different sustainability strategies and thus affect organizational changes. George et al [4] studied the role of accounting technologies, specifically performance management and reporting systems, in supporting sustainability integration into strategic operations across various types of organizations and recognized management accounting as one of the effective Sustainability 2019, 11, 3139 4 of 23 sustainability embedding mechanisms.…”

Section: Literature Reviewmentioning

confidence: 99%

Management Accounting Change as a Sustainable Economic Development Strategy during Pre-Recession and Recession Periods: Evidence from Russia

et al. 2019

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The volatility of both global and national markets has emerged in recent years. In response to the changes in the operating environment, organizations have been adopting various practices to ensure sustainable development by anticipating threats and managing risks. While many studies are focusing on the investigation of strategic adaptation to the volatile economic environment, there has been little research examining management accounting (MA) as a sustainable development strategy in times of economic turbulence. This study investigates the degree of variation in the use of MA practices induced by economic recession. Investigating the variations in management accounting practices in Russian organizations in 2000–2013 (pre-recession period) and 2014–2018 (economic recession), the authors explore the change across 54 MA tools split into operation, management, and strategy pillars. The contribution of this study to the literature involves the understanding of the use of particular MA tools across various types of organizations and industries before and during the economic recession, as well as discovering the intention to change the instruments in case the economic situation deteriorates. The survey of four types of organizations (micro, small, medium, and large) in five sectors (service, industry, trade, agriculture, and tourism) was conducted in seven territories of Russia differentiated on the level of their economic performance (well-performing, average, and declining). The survey revealed that, during the crisis, the respondents tend to drop using many of proactive sustainability-oriented MA tools and instead focused on achieving immediate and direct effects on sales, profits, and other performance parameters by employing less-sophisticated short-term MA instruments. The forecast of future application of MA tools in a falling economy revealed that, in an attempt to achieve durable and sustainable performance, the organizations of all types and sectors intended to focus on practices such as risk management variance analysis, rolling forecasts, payback, breakeven analysis, and activity-based management.

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“…In the presence of measurement noise and time-varying wind speed conditions, Equation (10) will freeze its estimates, while (8) and (13) will estimate in an aggressive, respectively conservative manner. The fusion of the equations may seem appealing under the form…”

Section: Area-wise Wind Speed Estimationmentioning

confidence: 99%

“…Wide area control systems have been recently undergoing a revision of concepts and relevance going beyond the classical output performance [8,9]. Such examples of revisited control objectives can be found in large scale power systems [10], office buildings [11], traffic control [12], sustainability in company management [13], and distribution networks [9]. A generic feature is to search solutions for optimal operation from the decentralized to distributed control systems and combinations thereof.…”

Section: Introductionmentioning

confidence: 99%

Multi-Objective Predictive Control Optimization with Varying Term Objectives: A Wind Farm Case Study

et al. 2019

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This paper introduces the incentive of an optimization strategy taking into account short-term and long-term cost objectives. The rationale underlying the methodology presented in this work is that the choice of the cost objectives and their time based interval affect the overall efficiency/cost balance of wide area control systems in general. The problem of cost effective optimization of system output is taken into account in a multi-objective predictive control formulation and applied on a windmill park case study. A strategy is proposed to enable selection of optimality criteria as a function of context conditions of system operating conditions. Long-term economic objectives are included and realistic simulations of a windmill park are performed. The results indicate the global optimal criterium is no longer feasible when long-term economic objectives are introduced. Instead, local sub-optimal solutions are likely to enable long-term energy efficiency in terms of balanced production of energy and costs for distribution and maintenance of a windmill park.

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Sustainability Strategy and Management Control Systems in Family Firms. Evidence from a Case Study

Cited by 36 publications

References 78 publications

Family Involvement and Sustainable Family Business: Analysing Their Effects on Diversification Strategies

Family Involvement and Sustainable Family Business: Analysing Their Effects on Diversification Strategies

Management Accounting Change as a Sustainable Economic Development Strategy during Pre-Recession and Recession Periods: Evidence from Russia

Multi-Objective Predictive Control Optimization with Varying Term Objectives: A Wind Farm Case Study

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