An exploratory study of firm goals in the context of family firms: An institutional logics perspective

Family ownership and environmental performance: The mediation effect of human resource practices

“…Overall, the studies seem to indicate that regardless of firm size, family firms fail to manage human resources (e.g., Kotey & Folker, ; Neckebrouck et al, ), and based on our empirical evidence, the negative features of family business persist even when they are under market disciplinary measures, such as being listed. However, although the dominant logic approach in family business studies assumes that family firms have different sets of goals to nonfamily firms (Aparicio et al, )—which creates specific social, emotional, and economic endowments (Gómez‐Mejía et al, ) linking family and business and affecting corporate governance (Carney, ) and managerial practices (Sirmon & Hitt, )—hardly any evidence exists of the mechanisms determining the underdevelopment of human resource practices. One possible explanation, which represents an interesting avenue for future research, is that family logic may change perceptions of the meaning of risk, and because risk is associated with human resource investment (moral hazard and adverse selection), it disadvantages family firm human resources.…”

“…In principalprincipal conflicts, blockholders' interests and goals do not align with those of minority shareholders or other blockholders (e.g., Minichilli, Brogi, & Calabrò, 2016), increasing the likelihood of the expropriation of nonblockholders. In the context of family firms, goal discrepancy among shareholders is aggravated by the pursuit of goals other than economic wealth by owner families (Aparicio, Basco, Iturralde, & Maseda, 2017). Such family-oriented goals include family reputation, transgenerational family control (dynastic succession), and concern about family unity and harmony (Gómez-Mejía, Haynes, Núñez-Nickel, Jacobson, & Moyano-Fuentes, 2007).…”

Family Business Performance: A Perspective of Family Influence

“…Consequently, performance research should not be limited to studying strictly financial performance, due to the involvement of the family, in which the goals and objectives of FBs naturally differ from those of NFBs (e.g., Aparicio, Basco, Iturralde, & Maseda, 2017). Williams et al (2018) state that FBs display a propensity to choose strategies to achieve family-based goals (e.g., control, low debt levels).…”

“…FBs are particularly successful in noneconomic objectives whenever they have a strong culture of commitment and values. Hence, family members should ensure a balance between a culture of commitment and values and the prevailing objectives for both the company and the family (Aparicio et al, 2017;Labaki, 2007).…”

Family and institutional contexts: an integrated view to advance family business research

“…According to a nascent literature (Backman and Palmberg, 2015), the presence of family businesses influences the institutional context in which they operate. Furthermore, from an institutional perspective, it can be seen that a family business constitutes a privileged vantage point for observation of the relationship between business and institutional context (Aparicio et al, 2017), as two institutions evolve under the reciprocal influence: the family and business.…”