Family leadership succession and firm performance: The moderating effect of tacit idiosyncratic firm knowledge

Williams, Ralph I.; Mullane, John V.

doi:10.1002/kpm.1594

Cited by 15 publications

(12 citation statements)

References 58 publications

(138 reference statements)

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“…Despite the potential failure of family firm succession over time, achieving long-term continuity through new generations inheriting or taking over the business is strategically crucial (Letonja & Duh, 2016;Williams & Mullane, 2019). Consequently, the following additional research question will be addressed:…”

Section: Knowledge and Its Manifestation Across Generations Of Family Membersmentioning

confidence: 99%

Knowledge and the family firm through generations: a knowledge-based approach in various geographic contexts

Alonso

Kok

2020

Knowledge Management Research & Practice

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This study examines the significance of knowledge, how it is created, and more specifically, its evolution and beneficial changes to the firm through the generational process from the perspective of the knowledge-based view (KBV) of the firm. Drawing from this theory, and its associations with the study's findings, a theoretical framework is proposed to enhance the understanding of knowledge in the context of family firms' generational processes. The study draws from data gathered among five family firms operating in both Northern and Southern Hemispheres. Overall, knowledge was created through previous experiences, accumulation of and conversion of explicit knowledge into tacit knowledge. The benefits of knowledge accumulation and sharing were multiple, including through efficiencies, new product development, or building business resilience. These findings also were associated with the KBV of the firm, for instance, in the added value added that stems from knowledge creation and operationalization, particularly through tacit knowledge.

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Section: Knowledge and Its Manifestation Across Generations Of Family Membersmentioning

confidence: 99%

Knowledge and the family firm through generations: a knowledge-based approach in various geographic contexts

Alonso

Kok

2020

Knowledge Management Research & Practice

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“…Research on family firms is populated by multi-perspective studies that have aimed to deepen the body of knowledge on governance and internationalization (Pukall and Calabrò, 2014;Bhatt and Bhattacharya, 2017), organizational structures and decision making (Thrassou et al, 2018;Bianchi et al, 2011), leadership and the continuity of generations (Williams and Mullane, 2019), propensity to invest in new ventures, assumption of risk, change management, business performance (Bresciani et al, 2016;De Massis et al, 2013;De Massis and Kotlar, 2014;Kellermanns et al, 2008) and female leadership (Bjuggren et al, 2018).…”

Section: Open Innovation In Family Firmsmentioning

confidence: 99%

Open innovation in family firms: empirical evidence about internal and external knowledge flows

Vecchio

Secundo

Rubino

et al. 2019

BPMJ

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Purpose The purpose of this paper is to shed light on how family firms execute open innovation strategies by managing internal and external knowledge flows (KF) to provide a deeper understanding of family firms’ ability to innovate through traditions and create value across generations. Design/methodology/approach Empirical evidence was collected using an online survey of a sample of 208 Apulian entrepreneurs, who were members of the association of young entrepreneurs of Confindustria in the Apulia region (southern Italy). Findings The study derives a model that explains the most relevant factors behind the innovation processes developed by young entrepreneurs in family firms: network membership benefits; KF; track record of innovation; and the entrepreneurial attitude of employees. Research limitations/implications By integrating insights from different research streams, namely, innovation management, open innovation and family firms, the study provides a novel contribution to the open innovation process in family firms. Practical implications The study offers interpretative lenses for entrepreneurs and managers to understand the most suitable knowledge transfer process for encouraging open innovation in family firms, taking into consideration young entrepreneurs’ traditions and interpersonal skills, the KF in local ecosystems and network benefits as the main variables supporting the innovation process. Originality/value This study creates a link between open innovation and family firm research by providing an empirically grounded model illustrating how the innovation process is realized in family firms.

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“…Succession is one of the most critical events in the life cycle of family firms (Calabr o et al, 2018;Campopiano et al, 2020;Ahrens et al, 2019), and the issue of succession remains one of the most studied topics in the family firm field (Daspit et al, 2015;De Massis et al, 2008;Lloyd et al, 2015;Yezza et al, 2021). The succession of family firms, the intergenerational transition of ownership and/or management from one family member to another family member (Williams and Mullane, 2019), is vital to a family firm's performance, success, survival and continued existence as a family firm (Williams and Mullane, 2019;Royer et al, 2008). However, research shows that only 30% of family firms survive the transition from the first generation to the second generation, while 15% of those will operate up to the third generation (Ward, 1997;Gagn e et al, 2019).…”

Section: Introductionmentioning

confidence: 99%

“…, 2021). The succession of family firms, the intergenerational transition of ownership and/or management from one family member to another family member (Williams and Mullane, 2019), is vital to a family firm's performance, success, survival and continued existence as a family firm (Williams and Mullane, 2019; Royer et al. , 2008).…”

Section: Introductionmentioning

confidence: 99%

The effect of succession on corporate governance reform under the Chinese clan culture context

Wang

Gao

2022

CCSM

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PurposeThe fundamental component of Confucian culture is clan culture, which stresses that family ties are the most important of all social relationships and have an essential impact on the governance model of family firms in Southeast Asian countries, especially in China. This study investigates complex relationships among family firm succession and corporate governance reform in the context of Chinese clan culture.Design/methodology/approachDrawing upon the analysis of altruistic behavior and conflict in succession process in family firm, the study uses a moderation model to capture the relationships between succession and governance reform in the context of clan culture. This study conducts an empirical study on 295 Chinese listed family firms that initiated intergenerational succession from 2008 to 2018 to test the model.FindingsThe empirical results suggest that the different stages of the succession will positively affect the family firm's governance reform, whether it is the stage in which the successor takes over the firm or the stage in which the successor completely controls the firm. Furthermore, the succession-governance reform relationship is negatively moderated by the clan concept of the actual controller.Originality/valueThis paper fulfills an identified need to study how succession in the family firm can accelerate corporate governance reform (transition from relation-based governance to rule-based governance). The research results provide evidence from the firm-level under the Chinese clan culture context to understand the complex relationship between succession and corporate governance.

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Family leadership succession and firm performance: The moderating effect of tacit idiosyncratic firm knowledge

Cited by 15 publications

References 58 publications

Knowledge and the family firm through generations: a knowledge-based approach in various geographic contexts

Knowledge and the family firm through generations: a knowledge-based approach in various geographic contexts

Open innovation in family firms: empirical evidence about internal and external knowledge flows

The effect of succession on corporate governance reform under the Chinese clan culture context

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