Not All Created Equal

Schenkel, Mark T.; Yoo, Sean Sehyun; Kim, Jaemin

doi:10.1177/0894486516659170

Cited by 27 publications

(10 citation statements)

References 98 publications

(177 reference statements)

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“…First, the intergenerational bequeathal of a family business from the head of a chaebol to his or her offspring is an established succession practice in chaebols (Jun et al, 2022;Yoo and Lee, 1987). It is extremely rare for heads of chaebols to bequeath the ownership and control of their business group(s) to a nonfamily manager (Kim, 2010;Schenkel et al, 2016). Second, similar to other countries in Asia, Korea has a cultural tradition of son preference (Den Boer and Hudson, 2017).…”

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

“…In this light, investigating the specific measures used by family firms to deal with expected family feuds over succession deserves scholarly attention, given that a family feud could be one of the biggest threats to controlling families in maintaining their family firms and SEW for generations (Schenkel et al, 2016;Swab et al, 2020).…”

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

“…Sibling competition as a threat to SEW. Succession in family firms usually entails succession from an incumbent family head to a child heir (Gimenez-Jimenez et al, 2021;Schenkel et al, 2016). Specifically, when a family head has more sons, the family firm is more prone to future family feuds.…”

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

“…, 2022; Yoo and Lee, 1987). It is extremely rare for heads of chaebols to bequeath the ownership and control of their business group(s) to a nonfamily manager (Kim, 2010; Schenkel et al. , 2016).…”

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

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Socioemotional wealth and family feuds: corporate social responsibility as insurance

Jung,

Kim,

Shin

2023

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PurposeThis study explores family firms' ex ante conflict management strategies to preserve their socioemotional wealth (SEW) under predictable conflict through the succession process. Specifically, the authors examine how family firms leverage the insurance-like benefits of corporate social responsibility (CSR) to mitigate the threat of foreseeable family feuds among the sons of firms' family heads.Design/methodology/approachThe authors focus on the charitable donations pledged by Korean family business groups (chaebols). Using the data of 62 chaebols with generalized least squares (GLS) models, the authors analyze 711 observations from 2005 to 2017.FindingsThe authors find a positive relationship between the number of sons of a family firm's head and the firm's CSR activities such as spending on charitable donations. Furthermore, the number of daughters of heads in executive positions strengthens such a positive relationship, whereas the number of business and political marriage ties weakens this relationship.Practical implicationsFamily heads of family businesses may leverage CSR activities and marriage ties to elite families interchangeably to ward off negative impacts from foreseeable family feuds and preserve their SEW. Thus, a policy-based incentive for CSR that encourages more family heads to use CSR as insurance would serve the public interest.Originality/valueThe authors contribute to the family business literature by suggesting that CSR activities can be used by family firms as an instrument to mitigate foreseeable damage to the SEW caused by family feuds. The authors also shed new light on CSR research by finding that marriage ties to elite families may reduce the strategic value of CSR activities.

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Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

Section: Theory and Hypothesis Developmentmentioning

confidence: 99%

See 2 more Smart Citations

Socioemotional wealth and family feuds: corporate social responsibility as insurance

Jung,

Kim,

Shin

2023

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“…In collectivist cultures, primogeniture is the norm defining succession as the preservation of the family name through the first-born male descendant and is considered a primary family goal (Schenkel et al, 2016;Sharma and Manikutty, 2005). This may be an obstacle for women to access the CEO suite.…”

Section: 3mentioning

confidence: 99%

Women in Latin American family businesses: an institutional logics perspective

Samara

Lapeira²

2022

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PurposeThe authors conceptually theorize the obstacles and opportunities that women encounter in family businesses embedded in Latin America, by differentiating between two clusters of countries embedded in this continent.Design/methodology/approachUsing secondary data obtained from various sources, the authors adopted a flexible pattern matching methodology, which involves linking theoretical propositions with actual observed patterns. For each proposition, the authors categorize the comparison with the observed data as either confirming or rivaling the expected patterns in the clusters.FindingsThis study’s findings reveal that women have more leadership and employment opportunities in the first cluster (Brazil, Chile, and Mexico) than in the second (Argentina, Colombia, and Peru). The authors propose that these differences are the result of higher tolerance for women in political leadership positions and of the presence of larger and more internationally expanding corporations in the first cluster. We also find differences between two groups of women: female family members and female nonfamily members, with the former being granted much more opportunities than the latter.Practical implicationsThis research increases the understanding of potential avenues for managers and policymakers in Latin America to foster gender diversity as a means to remain competitive in a global market. While actions at the state level may be more long-term oriented, others, such as those taken by small and medium-sized family businesses may have more immediate effects in minimizing gender biases and encouraging a greater participation of females in business.Originality/valueBy differentiating between two clusters of countries in Latin America, and by making careful consideration of whether females have family ties, the authors provide a more realistic and contextualized theoretical map that depicts the situation of women in Latin American family businesses. This contextualization is one of the first that attempts to examine how multiple institutional logics impact women in family businesses in an underexplored region of the world while differentiating between female family members and female nonfamily members. These findings inform policymakers and family business owners in Latin America on the peculiar challenges that women encounter in their context, while calling for more measures promote the active presence of females in Latin American family businesses.

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Succession Planning

Kaslow

Friedland²

2021

Consultation to Family Business Enterprises

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Not All Created Equal

Cited by 27 publications

References 98 publications

Socioemotional wealth and family feuds: corporate social responsibility as insurance

Socioemotional wealth and family feuds: corporate social responsibility as insurance

Women in Latin American family businesses: an institutional logics perspective

Succession Planning

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