Owner-managers' motivation and the growth of family-owned small and medium-sized enterprises

Wahlgrén, Asta; Virtanen, Aila

doi:10.1504/ijesb.2015.072393

Cited by 5 publications

(5 citation statements)

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“…Further stated that motive is a need that is sufficiently pressing to direct person to seek satisfaction. As per Wahlgrén and Virtanen (2015), owner-manager's internal motivation (need of achievement) positively affects the firm growth. It shows owner-managers eagerness to earn enough and to avoid economic failure associated with growth of their business.…”

Section: Hypothesis Developmentmentioning

confidence: 99%

Attitude for inclusive finance: influence of owner-managers’ and firms’ characteristics on SMEs financial decision making

Rasheed

Siddiqui

2018

JEAS

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Purpose The adoption and use of financial services by small- and medium-sized enterprises (SMEs) are pivotal in the development of inclusive financial markets. The purpose of this paper is to examine the influence of attitude on financial decision making of SMEs owner-manager. The attitude of SMEs owner-manager comprises of several factors; however, current study identifies few critical factors such as motivation, awareness and risk in the context of Pakistan. The study also includes the personal and firm characteristics as moderating variables to examine their effect on the relationship between attitude and financial decision making of owner-managers. Design/methodology/approach With the help of a structured questionnaire, total 285 valid responses are analyzed to accomplish the research objectives. The study uses SPSS and partial least square-structural equation modeling techniques in order to conduct analysis. The results of study highlight the importance of attitudinal factors such as awareness and risk. Moreover, the moderating effect of personal characteristics on the relationship between attitude and financial decision making has been found strong instead of firm characteristics. Findings The results show that the low awareness level of owner-managers regarding financial products and procedures significantly affects their attitude. Moreover, the less knowledge of financing terms as well as dominant role of owner-managers in taking firm decisions also increase the negative effect of risk factor on SMEs owner-manager attitude. Research limitations/implications The study suggested that policy makers should focus on the financial awareness of SMEs owner-manager to reduce the negativity of risk factor. Originality/value The study contributes toward the literature of inclusive finance and sustainability studies through better understanding of financial decision making of SMEs in emerging economies.

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Section: Hypothesis Developmentmentioning

confidence: 99%

Attitude for inclusive finance: influence of owner-managers’ and firms’ characteristics on SMEs financial decision making

Rasheed

Siddiqui

2018

JEAS

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“…, 2020). We are aware these two motivational drivers of entrepreneurial activity might be limited, as there are other forms of everyday entrepreneurship ranging from social, international, gender, to digital characteristics, among others (Rashid, 2022; Wahlgrén and Virtanen, 2015; Welter et al. , 2017).…”

Section: Introductionmentioning

confidence: 99%

“…Although it is suggested that developing countries are characterized by necessity-driven entrepreneurship (Aparicio et al, 2016a;Puente et al, 2019), we study how migration relates to other types of entrepreneurial activities, such as opportunity-driven entrepreneurs (Margolis, 2014;Puente et al, 2019;von Bloh et al, 2020). We are aware these two motivational drivers of entrepreneurial activity might be limited, as there are other forms of everyday entrepreneurship ranging from social, international, gender, to digital characteristics, among others (Rashid, 2022;Wahlgr en and Virtanen, 2015;Welter et al, 2017). Nevertheless, analyzing necessity vs opportunity entrepreneurship is illustrative in emerging economies due to social disparities and, at the same time, economic incentives for the population (Urbano and Aparicio, 2016).…”

Section: Introductionmentioning

confidence: 99%

From immigrants to local entrepreneurs: understanding the effects of migration on entrepreneurship in a highly informal country

Muñoz-Mora

Aparicio

Martinez-Moya

et al. 2022

IJEBR

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PurposeMotivated by a lack of evidence regarding the effect of migration on entrepreneurship in a highly informal country, such as Colombia, this paper has a twofold purpose. First, it explores how Venezuelan immigration affects entrepreneurial activity in Colombian regions. Second, it intends to shed light on this relationship, by distinguishing between formal and informal sectors.Design/methodology/approachWith a sample of 1,776,063 individuals, from the Labor Survey Gran Encuesta Integrada de Hogares (GEIH) from the Departamento Administrativo Nacional de Estadística (DANE), the authors employ an instrumental variable approach to account for the selection of immigrants into locations with more or less desirable conditions.FindingsThe results suggest Venezuelan immigration positively influences self-employment and own-account workers, but negatively affects employers. However, once these immigrants proliferate in the informal sector, the effects increase.Originality/valueThis paper brings new insights into the intersection between immigration, unofficial economies, and entrepreneurship. First, while the prior literature focuses on migration from developing to developed countries, migratory flows between developing economies and its effects on local entrepreneurial activity remain unexplored. Second, although informality is mostly common in developing countries, little (albeit growing) evidence of its role in the relationship between migration and entrepreneurship research exists. Finally, the authors bring together these two phenomena to enhance our understanding of different types of entrepreneurial activities when immigration and informality take place. Policy implications are derived from these insights.

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“…Owner-managers attitudes to the growth of their businesses were studied by Wahlgrén and Virtanen (2015), and their study revealed three types of growth motivatorseconomic, psychological and social, as well as impact of various stakeholders on owner's motivation.…”

Section: Introductionmentioning

confidence: 99%

Towards New Typology of the Owners-Managers of the Small and Medium Enterprises

Millers

Gaile-Sarkane

2021

International Scientific Conference „Contemporary Issues in Business, Management and Economics Engineering"

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Purpose – individuals or families own and at the same time manage a large proportion of private enterprises. Previous studies mostly refer to owner-manager of the enterprise as an individual with own personal traits, styles and preferences. Purpose of this article is to propose a new typology of the owners-managers of the small and medium en- terprises representing all variety, determined by their different ownership status and managerial authorities in companies. Research methodology – research started with a systematic rapid literature review using an overview method. Data for research were collected through 52 semi-structured interviews with SME owner-managers representing broad range of industries and companies of different age. Key findings were discussed and approbated in two focus group discussions. Findings – as a result of this research, a preliminary typology was developed, consisting of ten types of the SME own- ers-managers, with a brief description of each type constructed. Research limitations – conclusions from this research are relevant to those SMEs analysed in this particular research and shall not be generalized without additional research and validation. Practical implications – the typology suggested in this article provides a structured way to explore the diversity of SME owners-managers and raise understanding of their behaviour when planning, controlling and managing their business. Originality/Value – the proposed typology is a step towards filling the knowledge gap caused by the lack of a holistic and systematic approach in addressing the diversity of the SME owners-managers.

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Owner-managers' motivation and the growth of family-owned small and medium-sized enterprises

Cited by 5 publications

References 0 publications

Attitude for inclusive finance: influence of owner-managers’ and firms’ characteristics on SMEs financial decision making

Attitude for inclusive finance: influence of owner-managers’ and firms’ characteristics on SMEs financial decision making

From immigrants to local entrepreneurs: understanding the effects of migration on entrepreneurship in a highly informal country

Towards New Typology of the Owners-Managers of the Small and Medium Enterprises

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