Does open customer innovation model hold for family firms?

Belitski, Maksim; Rejeb, Nada

doi:10.1016/j.jbusres.2022.03.012

Cited by 20 publications

(15 citation statements)

References 71 publications

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“…One possible explanation of the superior financial performance of Asian family firms and family firms from other emerging markets during the pandemic is their extraordinary growth rates combined with powerful networks (Bennedsen et al, 2022 ; Keck, 2020 ; Miroshnychenko et al, 2021 ). With regard to the above-average financial performance of European firms with family involvement in ownership and management during the pandemic, we believe that this is largely due to their unique cultural and innovative resources (De Massis et al, 2016 , 2018a , 2018b ) and ability to extract more value from them (Belitski & Rejeb, 2022 ; Guenther et al, 2022 ).…”

Section: Resultsmentioning

confidence: 99%

“…Family business perseverance derives from their extraordinary regional embeddedness (Belitski & Rejeb, 2022 ; Guenther et al, 2022 ). This embeddedness helps them develop and maintain unique social capital—in which the competitive advantage of many family firms is rooted—by creating and maintaining extraordinary employee—(Azoury et al, 2013 ), and socially friendly policies and business practices (Dyer & Whetten, 2006 ).…”

Section: Theory and Hypotheses Developmentmentioning

confidence: 99%

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The COVID-19 pandemic and family business performance

et al. 2023

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This study examines the impact of the COVID-19 pandemic on corporate financial performance using a unique, cross-country, and longitudinal sample of 3350 listed firms worldwide. We find that the financial performance of family firms has been significantly higher than that of nonfamily firms during the COVID-19 pandemic, accounting for pre-pandemic business conditions. This effect is pertinent to firms with strong family involvement in management or in both management and ownership. We also identify the role of firm-, industry-, and country-level contingencies for family business financial performance during the COVID-19 pandemic. This study offers a novel understanding of the financial resilience across different types of family business and sets an agenda for future research on the drivers of resilience of family firms to adverse events. It also provides important and novel evidence for policymakers, particularly for firms with different ownership and management structures.

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Section: Resultsmentioning

confidence: 99%

Section: Theory and Hypotheses Developmentmentioning

confidence: 99%

The COVID-19 pandemic and family business performance

et al. 2023

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“…Recently, businesses have been recreating business models and strategies to cater for the behavioral changes seen in consumers [ 91 , 92 , 93 , 94 , 95 , 96 , 97 , 98 , 99 , 100 , 101 , 102 , 103 , 104 , 105 , 106 ]. This study would be beneficial in this sense, since a demographic segmentation of consumer preferences was also indicated.…”

Section: Discussionmentioning

confidence: 99%

The Evaluation of the Local Beer Industry during the COVID-19 Pandemic and Its Relationship with Open Innovation

Ong

Pequeña

Prasetyo

et al. 2022

Journal of Open Innovation: Technology, Market, and Complexity

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The beer industry is one of the businesses affected during the COVID-19 pandemic. Despite the exponential growth of the beer industry throughout the years, this aspect of the beverage industry has gained limited attention and has been underexplored. This study aimed to provide a better and up-to-date understanding of Philippine-beer consumers to speed up its recovery. An online survey with 853 volunteer respondents was conducted to investigate Filipinos’ local beer consumption considering frequency, intake, expenses, and preference. A descriptive analysis of the consumers’ self-perceived evaluation of the changes in drinking showed a slight decrease in frequency, intake, and expenses and a minor change in preference. Somers’ d and the chi-squared test results indicated significant relationships between each demographic information (age, sex, and income) and frequency, intake, and expenses. In addition, a conjoint analysis with an orthogonal design indicated that price was the most important attribute (58.025%), followed by primary taste (12.452%), alcohol content (9.706%), mouthfeel (6.445%), aftertaste (6.355%), aroma (5.189%), and, lastly, color (1.827%). The findings of this study could be used as a baseline for improved product offerings, customized advertisements, and market segmentation. Moreover, the results of this study could be applied and extended by breweries to promote and create strategies. Lastly, this study could be extended and utilized by other beverage industries worldwide.

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“…Family firms' (FFs) key concern in any diversification activities was wealth preservation for their future generations (Gomez-Mejia et al, 2010). For that purpose, the FFs preferred a continuous business alliance and control retention with firms that were exclusively related to their business nature (Belitski & Rejeb, 2022). Muñoz-Bullon et al (2018) reported that FFs typically diversified to a limited extent to preserve their firms, and those firms preferred not to be inclusive with players in the industry.…”

Section: Industrial Diversification (Pdi)mentioning

confidence: 99%

“…However, there was an inadequate study on the relationship between corporate diversification and debt financing based on SEW perspective in family firms. A few related studies on debt financing were examined and among them analysed the difference in the use of debt financing associated with family and non‐family firms (Belitski & Rejeb, 2022; Hansen & Block, 2021) as well as within family firms (Comino‐Jurado et al, 2021). Hence, this idea could grant further research efforts towards debt financing, which becomes a crucial source of external financing, especially for family firms.…”

Section: Introductionmentioning

confidence: 99%

Corporate diversification and debt financing: Do family shareholders protect their control rights?

Subramaniam

Hosen

2022

Manage Decis Econ

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The study explored the relationship between corporate diversification and the debt choice of listed 712 Malaysian family firms for the period from 2016 to 2020. Tobit regression results revealed that industrial diversified firms preferred debt financing, while geographically diversified firms rejected debt. With family control, firms that conducted both types of diversification activities rejected debt financing. Further, for the case of maturity structure of debt, family firms engaged in diversification activities tend to borrow short-term debt, thereby reducing their ownership's risk of dilution and boosting their short-term market goals by improving the creditors' shortterm monitoring function. Policy implications are discussed.

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Does open customer innovation model hold for family firms?

Cited by 20 publications

References 71 publications

The COVID-19 pandemic and family business performance

The COVID-19 pandemic and family business performance

The Evaluation of the Local Beer Industry during the COVID-19 Pandemic and Its Relationship with Open Innovation

Corporate diversification and debt financing: Do family shareholders protect their control rights?

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