A socioemotional wealth perspective on how collaboration intensity, trust, and international market knowledge affect family firms’ multinationality

Cesinger, Beate; Hughes, Mathew; Mensching, Helge; Bouncken, Ricarda B.; Kraus, Sascha

doi:10.1016/j.jwb.2016.02.004

Cited by 127 publications

(113 citation statements)

References 98 publications

(163 reference statements)

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“…The findings confirmed that TMT members' experience characteristics, strategic mental preferences, and risk perceptions, as well as their enterprise ownership perceptions, influence their strategic decision-making processes. In addition, the findings revalidated the claims of previous studies that management team members' characteristics [38], mental models [20], and risk perceptions [33] are crucial factors that influence team members' strategic decisions. Therefore, team members draw on previously accumulated experiences to make strategic decisions.…”

Section: Discussionsupporting

confidence: 68%

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Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

Tsai

et al. 2017

Sustainability

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Strategic decision-making is a key factor of sustainability and development in enterprises. Moreover, the top management team (TMT) of an enterprise constitutes the base for decision-making. This study employed structural equation modeling to analyze questionnaires regarding TMTs' characteristics and strategic decision-making, and tested the mediating effects of risk perceptions and mental models and the moderating effects of psychological ownership. We investigated 289 valid questionnaires on TMTs completed by representatives from enterprises in China and found risk perceptions and mental models that serve as a mediating factor and are affected by the TMTs' characteristics and decision-making. We also found that psychological ownership exerts moderating effects between TMTs' characteristics and decision-making. This paper concludes with a discussion of theoretical and managerial implications for enterprise owners.

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Section: Discussionsupporting

confidence: 68%

“…Therefore, TMT members' risk perceptions concerning external environments significantly influence their enterprises' strategic decision-making. Moreover, business experience, cultural differences, industrial structures, and systematic risk all influence the risk perceptions of management team members [33].…”

Section: Risk Perceptions and Strategic Decision-makingmentioning

confidence: 99%

Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

Tsai

et al. 2017

Sustainability

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“…For these behavior-guiding goals we draw on the SEW construct (Berrone et al 2012;Kellermanns et al 2012b;Berrone et al 2010;Cesinger et al 2016). SEW consists of goals that assure maintaining the family spirit over generations, such as the identification of family members with the firm, emotional attachment of family members, and renewal of family bonds to the firm (Berrone et al 2012).…”

Section: Family-related Goalsmentioning

confidence: 99%

Tweaking the entrepreneurial orientation–performance relationship in family firms: the effect of control mechanisms and family-related goals

2017

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Management literature is currently giving growing conceptual and empirical attention to the peculiarity and relevance of entrepreneurial attitudes in family firms, with divergent outcomes. Aiming at concretizing the effects of these attitudes, denoted by the entrepreneurial orientation construct, on family business performance and considering that family dynamics come into play in this relationship, we particularly investigate the impact of control mechanisms and familyrelated goals. Findings are based on a sample of 180 family firms and show that Proactiveness and Autonomy are particularly relevant to financial performance. Agency-problems avoiding control mechanisms moderate the effect of Innovativeness and Autonomy, while socioemotional wealth (SEW) goals moderate the effect of Risk-Taking, respectively. The usage of these mechanisms and managing SEW goals provide opportunities for a more efficient exploitation of entrepreneurial attitudes.

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“…Family firms are concerned with much more than just financial wealth. They prioritize non‐financial SEW, and a bias to protect and grow SEW directly informs their strategic actions (Cesinger et al ., ; Gómez‐Mejía et al ., ). Family control and influence reflect two aspects of a family firm's stock of SEW (Zellweger et al ., ).…”

Section: Configurational Nature Of Family Firm Performancementioning

confidence: 99%

Family Firm Configurations for High Performance: The Role of Entrepreneurship and Ambidexterity

Hughes

Filser

Harms

et al. 2017

British J of Management

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The performance drivers of family firms have spawned considerable research interest. Almost exclusively this research has relied on independent sets of explanatory variables in linear analyses. These analyses mask the complex interdependencies that are likely to exist among key success factors, leading to faulty theory and misspecified implications for practice. As treatment, the authors propose a configuration approach to family firm performance that accounts for complex interdependencies among entrepreneurial, innovation and family influence conditions. Using a fuzzy set qualitative comparative analysis of a sample of 129 Finnish family firms, the authors identify sufficient conditions with regard to the existence or absence of antecedent conditions to family firm performance. These conditions include entrepreneurial orientation, exploration and exploitation activities that form causal paths towards family firm performance. To enrich the analysis, the authors theorize and empirically analyse how these conditions might differ in family firms with high and low levels of family influence. They deepen the current understanding of configurations that promote the performance of family firms, offer important implications for theory and practice, and set new directions for future research on the strategic management of family firms. The results are also virtually identical and insensitive to change across subjective and objective performance measures.

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A socioemotional wealth perspective on how collaboration intensity, trust, and international market knowledge affect family firms’ multinationality

Cited by 127 publications

References 98 publications

Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

Top Management Teams’ Characteristics and Strategic Decision-Making: A Mediation of Risk Perceptions and Mental Models

Tweaking the entrepreneurial orientation–performance relationship in family firms: the effect of control mechanisms and family-related goals

Family Firm Configurations for High Performance: The Role of Entrepreneurship and Ambidexterity

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