Purpose – The purpose of this paper is to focus on the family protocol as a governance policy tool that can help ameliorate intra-family conflict and enhance the probabilities of survivability of the family business. Design/methodology/approach – Using equity theory and organizational justice as theoretical frameworks, the authors explain how and why the development of a protocol can help the family firm and their survivability. The authors combine academic and practitioner knowledge to present a process model for creating family protocols. Findings – Based on four important considerations (i.e. process view, deep knowledge about the family business, dynamic environment, and the need for change and adaptation) the authors develop a process model for the development of family tailored protocols. Originality/value – This paper integrates the work of practitioners and academics to help understand what is a family protocol, why and how the protocol affects the family and business relationships and presents a procedural model for the development of a family protocol that can help govern the relationship between the family and the business.
A d m i n i s t r A c i ó n Gobierno Corporativo. Prácticas sugeridas e implementadas por empresas familiares y no familiares colombianas* Gonzalo Gómez-Betancourt R e s u m e nEl objetivo de esta investigación es identificar las prácticas de gobierno corporativo implementadas por las empresas familiares y no familiares colombianas, en comparación con las recomendaciones de los códigos de gobierno. Se estudiaron 22 códigos de gobierno corporativo de 17 países, se identificaron las prácticas de gobierno corporativo comunes, posteriormente se diseñó una encuesta que fue aplicada a 202 empresarios y las respuestas se analizaron con la prueba Z. Los resultados revelan una alta concentración de poder en la primera generación de empresas familiares, debido a que el fundador no delega responsabilidades y funciones. La segunda generación y las generaciones posteriores tienden a comportarse más como empresas no familiares en temas relacionados con el gobierno corporativo. Futuras investigaciones deberán identificar cuáles prácticas de gobierno corporativo influyen en las organizaciones y en su desempeño. PalabRas c l av eGobierno corporativo, empresa familiar, empresa no familiar, prácticas, Códigos de Gobierno Corporativo códigos Jel G300, G340 Corporate Governance. Suggested and implemented practices in Colombian family and non-family businesses a b s t R a c tThe objective of this research is to identify the corporate governance practices applied by family and non-family businesses in Colombia in comparison with codes of corporate governance´ recommendations. 22 corporate governance codes from 17 countries were studied, common practices of corporate governance were identified, then has been designed a survey, was applied to 202 employers and responses were analyzed using the Z test. Results reveal a high concentration of power in the first generation of family businesses because the
Purpose – Although researchers have highlighted the importance of relational and family factors for the sustainability of a family firm, there is not much empirical research exploring how emotions and the management of emotions play a role in the interpersonal dynamics of family business owners. The purpose of this paper is to explore how the way family members manage their emotions affects the interpersonal dynamics in the family, business, and ownership subsystems of a family firm. Design/methodology/approach – The paper presents an in-depth case study from a family firm in Colombia-South America. Findings – The results indicate that the capability that family members have to manage their emotions influences the interpersonal dynamics that take place in the family firm at the individual and group level. In this case, the paper found that although emotional intelligence (EI) affected interpersonal relationships in a firm, this effect was based on the individual's willingness to use their EI capabilities, previous history between people, and the goals individuals have within each subsystem in a family firm. The paper also found that interpersonal dynamics, in turn, influence how family members work together. Research limitations/implications – Because this study uses an in-depth case study, the intention of the paper is to provide an initial picture of how EI can play a role in the interpersonal interactions between family business owners. The authors hope that this study can be used as a building block to enhance the understanding of the role of EI in family firms. Practical implications – EI represents an individual's capability to perceive, understand, manage, and regulate self and other's emotions. For family firms, this means that family business owners can use this capability to determine how to enact their roles in the family firm and how to interact with other to ensure harmony in their relationships. Originality/value – This paper builds on previous work on emotions in family firms to explore the role of EI in family firms, and provides an empirical exploration of the role of management of emotions in family firms.
The objective of this exploratory research was to identify factors that influence the ownership vision of Colombian family-owned business, in other words, the purpose of ownership in the families. The initial research model theoretically established that there are different combinations of these factors that influence ownership vision. A well-structured questionnaire was applied to 32 companies of different sizes, generations, and sectors. A factorial and multiple linear regression analysis was performed which indicated an influence of: 1) a percentage of family managers (family factor); 2) the total number of family members (family factor); and 3) the return on equity (wealth factor).
La Sociedad por Acciones Simplificada (SAS) representa la evolución más significativa del sistemasocietario colombiano en las últimas 4 décadas. Desde su aparición representa cerca del 90% del totalde sociedades matriculadas en el país. Este estudio exploratorio descriptivo busca determinar si losempresarios conocen las ventajas y desventajas de las SAS, y si las tienen en cuenta en la toma dedecisiones. Se aplicó un cuestionario estructurado a 57 empresas, de las cuales el 84% eran familia-res. Se observó un amplio desconocimiento de algunas ventajas y desventajas de la SAS que implicael desaprovechamiento de sus bondades y, en casos puntuales, riesgos para las empresas familiares
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