When does family involvement produce superior performance in SME family business?

González-Cruz, Tomás F.; Ros, Sonia Cruz

doi:10.1016/j.jbusres.2015.10.124

Cited by 79 publications

(78 citation statements)

References 51 publications

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“…Economic-financial performance: to measure financial performance (for the last three years) in relation to the competition, we applied a 5-point Likert scale ranging from 1 (well below the main competitors) to 5 (well above the main competitors), composed of six items (see appendix A) (e.g., Allouche, Amann, & Garaudel, 2007;Castillo & Wakefield, 2007;Craig & Dibrell, 2006;González-Cruz & Cruz-Ros, 2016;Sciascia & Mazzola, 2008).…”

Section: Dependent Variablesmentioning

confidence: 99%

“…Some research findings point to FBs achieving higher levels of financial performance than their peers (NFBs) (e.g., Anderson & Reeb, 2003;Craig & Dibrell, 2006;González-Cruz & Cruz-Ros, 2016;Tsao, Chen, & Wang, 2016), correspondingly explained by more effective management, reduced agency costs as a result of the overlap in the relationship between the owner (principal) and the manager (agent) of the company and the general long-term orientation of family ownership in conjunction with the system of values, the bond between the family and the business, and lower debt levels due to the risk aversion of family members (Gomez-Mejia, Nuñez-Nickel, & Gutierrez, 2001;Le Breton-Miller & Miller, 2009). However, Schulze, Lubatkin, Dino, and Buchholtz (2001) take a different position as regards the implications of agency costs in FBs, warning of higher costs due to altruism and the ineffectiveness of control mechanisms that is characteristic of family-owned firms.…”

Section: Introductionmentioning

confidence: 99%

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Family Business Performance: A Perspective of Family Influence

Alves

Gama

2020

RBGN

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Purpose-The purpose of this study is to analyze the relationship between family influence, measured through power, experience and culture (F-PEC) and family business (FB) performance. Performance is measured from a financial and non-financial perspective. Design/methodology/approach-Empirical study using the quantitative method and data collected through a questionnaire, answered by 169 Portuguese family firms. The survey design was based on prior research of FB performance and the F-PEC questionnaire. The exploratory factor analysis and multiple linear regression models are used. Findings-The results indicate a negative relationship between experience and financial performance, a positive association between a culture of family commitment and performance (financial and noneconomic goals), and a positive relationship between a culture of family values and non-economic goals. The results show the importance of agreement between the firm and the family goals. Family influence on FB performance cannot be seen only from a positive (stewardship theory) or a negative (agency theory) perspective. Originality/value-Commitment increases financial performance and the achievement of non-economic goals (perpetuity and family assets). It is important to study how a culture of commitment leads to superior performance.

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Section: Dependent Variablesmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

Family Business Performance: A Perspective of Family Influence

Alves

Gama

2020

RBGN

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“…In family businesses, there is significant overlap between ownership and management and often family members play both roles (Fiegener, 2010;González-Cruz and Cruz-Ros, 2016). In addition, researchers have theorised that strong family relationships may lead to feelings of altruism and significant alignment between leaders (Lubatkin et al, 2005).…”

Section: Family Businessesmentioning

confidence: 99%

“…Moreover, researchers have argued that performance advantages of family businesses are tied to their closely held nature where both ownership and control are often embodied in the same individual or family (Chrisman et al, 2004;González-Cruz and Cruz-Ros, 2016). This relational structure has been shown to contribute to increased levels of commitment, cooperation and flexibility as well as reduced transaction costs leading to higher performance (Carson et al, 2006;Jeffries and Reed, 2000;Poppo et al, 2008;Uhlaner et al, 2007).…”

Section: Family Businessesmentioning

confidence: 99%

Factors affecting small and medium family businesses' internationalisation in Saudi Arabia

Rafiki

Hidayat

Almana

2018

IJIMB

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This study is aimed to investigate factors that influence small and medium enterprises towards internationalisation in the Kingdom of Saudi Arabia. There are variables delineated from theories which influence the firm's internationalisation, which include: size of the firm, age of the firm, education of the manager, training, experience of the manager and network relationship. The descriptive and multivariate regression analyses were used to analyse the data. A combination of stratified and snowball sampling techniques is adopted with a sample size of 119 managers of small and medium enterprises. The results of the research were consistent with past studies where it was revealed that the firm size, manager experience, training and network relationship had a significantly positive relationship with internationalisation. However, contrary to current findings outside Saudi Arabia, education of the manager and age of the firm did not have a significant positive relationship with internationalisation. This study could be considered as a pioneer study of internationalisation within the context of Saudi Arabia and expose the specific factors considered by Saudi Arabia family business managers who intend to embark on internationalisation.

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“…We treat family involvement in management as the presence of a family Chief Executive Officer (CEO) and as the percentage of family managers in the Top Management Team (TMT) as fostering a family firm's performance. Particularly, we hypothesize two contradicting hypotheses related to the association between the ratio of family managers in the TMT and performance, since prior literature has also suggested nonlinear effect (De Massis, Kotlar, Campopiano, & Cassia, 2015; González -Cruz & Cruz-Ros, 2016;Mazzola, Sciascia, & Kellermanns, 2013;Minichilli et al, 2010;Sciascia & Mazzola, 2008). However, these studies that treat the association between family involvement and performance lead to inconclusive findings, which might be explained by the complexity of familiness construct and relationships (Anderson & Reeb, 2003;Garcia-Castro & Aguilera, 2014;Minichilli et al, 2010;Rutherford et al, 2008).…”

Section: Empirical Studiesmentioning

confidence: 70%

Management control mechanisms and stewardship in family firms: an analysis of antecedents and consequences

Mucci¹

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This Ph.D. dissertation is a result of hard work, dedication and effort on my part as well as many other people, in special the two promotors of this Ph.D. study. First, I would like to thank God for enlightening me and everyone around me including my family, professors and colleagues. I dedicate this Ph.D. dissertation to my grandparents, Joaquim and Adélia, who, although they are not present in life, certainly, are very happy and proud of this achievement. And to Grandma Maria, who despite the long distance during this years that I have been living in Sao Paulo, I believe she is very happy to have a grandson reaching this academic degree and who will follow a teaching career. I also dedicate this Ph.D. to my parents, Paulo and Berenice, for providing me with values to which I mirror my attitudes, for guiding me and for unconditionally supporting my decisions and to my brother Gustavo, for being a symbol of dedication to me. I dedicate this Ph.D. to Marcela, for sharing all the moments with me during all these many years and for encouraging and motivating me in every step that I take. To her family for supporting us in the pursuit of our goals. My gratitude also goes to Aunt Consola and Uncle Júlio, for giving me the opportunity to be with them more intensely in these last years, providing me with care and advise that I carry for life. To my uncles and cousins, and my family for all their support. Particularly, I would like to thank my promotors for their support to develop this Ph.D. dissertation. Prof. Fábio Frezatti, who in the last almost six years has been sharing his knowledge and experience with me, providing me with advices that I carry in my career and life. Prof. Ann Jorissen, who accepted to guide my Ph.D. project and provided me with unique insights and with the opportunity to develop the doctoral thesis jointly between USP and the University of Antwerp. I feel privileged to have two promotors with numerous professional, academic and personal qualities, and for being involved in the development of this Ph.D. dissertation. I also would like to thank all those directly and indirectly involved in the implementation of the joint Ph.D. agreement in USP and in UAntwerpen, specially Cida, Ana Paula, and Adriana from USP and Esmeralda Aerts from UAntwerpen. This experience and interaction were very important for my training and for the quality of this Ph.D. dissertation. Many thanks to my colleagues from FEA/USP, for sharing knowledge and experiences during the courses and activities. In particular, to Bianca, Samantha, Franciele and Daiana for supporting me during the courses and in this Ph.D. dissertation. To the professors of the Accounting and Actuarial Department at the FEA/USP for providing me with knowledge and expertise in accounting topics. I also appreciate my colleagues and professors from the University of Antwerp for welcoming me into their Department. Especially my thanks to Poppy, Veronique, Robin, Oveis, Gertjan, Sabine, Caroline and all the colleagues and professors with whom I had the oppor...

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When does family involvement produce superior performance in SME family business?

Cited by 79 publications

References 51 publications

Family Business Performance: A Perspective of Family Influence

Family Business Performance: A Perspective of Family Influence

Factors affecting small and medium family businesses' internationalisation in Saudi Arabia

Management control mechanisms and stewardship in family firms: an analysis of antecedents and consequences

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