The sensitivity of compensation to social capital: Family CEOs vs. nonfamily CEOs in the family business groups

Young, Chaur Shiuh; Tsai, Liu Ching

doi:10.1016/j.jbusres.2007.07.022

Cited by 50 publications

(29 citation statements)

References 53 publications

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“…We use ROA (return on assets) to proxy for accounting performance, however our results are robust to replacing ROA with either return on equity (Young and Tsai, 2008), or earnings per share.…”

Section: Alternative Proxies For Accounting Performancementioning

confidence: 93%

The impact of firm strategy on performance measures used in executive compensation

Balsam

Fernando

Tripathy

2011

Journal of Business Research

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Section: Alternative Proxies For Accounting Performancementioning

confidence: 93%

The impact of firm strategy on performance measures used in executive compensation

Balsam

Fernando

Tripathy

2011

Journal of Business Research

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“…In contrast, in non‐family firms, guanxi may be bought by hiring a (professional) manager who has guanxi networks, and this guanxi is considered a determinant of managers’ pay level (Ahlstrom et al . ; Young and Tsai ). Guanxi in non‐family firms seems to be more time variant than that in family firms.…”

Section: Institutional Complementarities As Functionally Equivalent Gmentioning

confidence: 98%

Asian Family Firms through Corporate Governance and Institutions: A Systematic Review of the Literature and Agenda for Future Research

Dinh

Calabrò

2018

Int J Management Reviews

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Although the corporate governance model of Asian family firms has recently gained increased attention, it remains unclear how these firms’ corporate governance mechanisms (and their effectiveness) differ from those of family firms in the western world. Drawing upon a comparative institutional perspective, this paper systematically reviews 148 published articles in peer‐reviewed journals from 1980 to 2015. The aim of this paper is to contribute to the understanding of institutional complementarities that constitute informal governance mechanisms adopted by Asian family firms by considering a wider set of institutional factors (i.e. political environment, cultural values and social norms) embedded in the Asian context. The main findings suggest that: (i) given the lack of market‐supporting institutions and the presence of strong political control over Asian economies, family firms tend to cultivate political connections to respond to the failure of legal systems; (ii) Asian family firms still rely heavily on personal networks (e.g. guanxi) to reduce uncertainty, strengthen business ties, and gain access to external resources; and (iii) cultural values and social norms (e.g. ‘face’ saving, reputational concerns and adult child adoption) lead to functionally equivalent corporate governance mechanisms in Asian family firms. The downstream effects of such mechanisms are also discussed, and future research avenues are identified.

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“…For instance, building a close relationship with banks may facilitate access to bank capital (Miller and Le Breton‐Miller ). Additionally, social capital is conducive to knowledge and information acquisition by linking connections to social network members (Houghton, Smith, and Hood ; Young and Tsai ). Kontinen and Ojala () suggest that the nurturing of outside connections and bridging social capital are especially important in internationalization.…”

Section: Literature and Hypothesesmentioning

confidence: 99%

“…). Such networks have been regarded as important resources for the competitive advantages of Chinese family SMEs (Chu ; Young and Tsai ). From a social capital perspective, social networks may enhance the competitive advantages of family SMEs (Chu ) by providing powerful means to access information and resources (Coleman ; Lin and Si ) that favor internationalization.…”

Section: Limitations and Future Researchmentioning

confidence: 99%

Family Ownership, Institutional Ownership, and Internationalization of SMEs

Chen¹,

Hsu²,

Chang³

2013

Journal of Small Business Management

106

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Family ownership has been recognized as an important determinant of corporate strategic choices; however, little research investigates the effects of family ownership and corporate governance on internationalization in small and medium‐sized enterprises (SMEs). This paper utilizes agency theory and the resource‐based view to analyze the relationships between family ownership, institutional ownership, and internationalization. Using a sample of Taiwanese SMEs, the finding of a positive family ownership–internationalization relationship suggests that family ownership may encourage internationalization. The interaction of family ownership and institutional ownership is positively related to internationalization, suggesting that SMEs with high family ownership are more likely to internationalize as institutional ownership increases.

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The sensitivity of compensation to social capital: Family CEOs vs. nonfamily CEOs in the family business groups

Cited by 50 publications

References 53 publications

The impact of firm strategy on performance measures used in executive compensation

The impact of firm strategy on performance measures used in executive compensation

Asian Family Firms through Corporate Governance and Institutions: A Systematic Review of the Literature and Agenda for Future Research

Family Ownership, Institutional Ownership, and Internationalization of SMEs

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