Refining the influence of family involvement in management on firm performance: The mediating role of technological innovation efficiency

Martínez-Alonso, Rubén; Martínez‐Romero, María J.; Ramirez, Alfonso A. Rojo

doi:10.1177/2340944420957330

Cited by 28 publications

(42 citation statements)

References 132 publications

(207 reference statements)

Supporting

Mentioning

Contrasting

Order By: Relevance

“…We also included several control variables to measure company characteristics, as suggested by [4,5,26]. These variables are:…”

Section: Controlsmentioning

confidence: 99%

“…Leverage (Lev) = Total Debt/Total Assets (5) Companies can finance their investments using equity or total debt. The optimum capital structure depends on the company, as investing with debt capital brings advantages but also carries risks.…”

Section: Controlsmentioning

confidence: 99%

“…This variable is expressed in natural logarithms as in [5,34]. Older companies are more knowledgeable about the market and the activity.…”

Section: Age Is Measured By the Years Of Activitymentioning

confidence: 99%

“…The assessment of financial performance is crucial to assess the company's efficiency in managing its investments and finances. There are several factors that can explain this performance, with the company's specific characteristics being the most used determinants [4,5]. Examples of determinants are liquidity, leverage, sales growth, asset structure, asset turnover, size, age, among others.…”

Section: Introductionmentioning

confidence: 99%

See 3 more Smart Citations

The Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourism

2022

View full text Add to dashboard Cite

This article analyses the financial performance of family versus non-family firms operating in nautical tourism, in 2015–2019. The sample of 39 Portuguese companies was collected from the SABI database. We use a regression of financial performance, measured by three alternative proxies: return on assets, return on equity and operating profit margin, on liquidity, leverage, turnover of assets, asset structure, company size and age. The regressions are performed across Nuts II regions on mainland and across types of firms (family and non-family). The results uncover several patterns. First, family firms are larger and older, make higher investments and therefore are less liquid. Second, liquidity, leverage and investment in tangible assets impact negatively and significantly the corporate financial performance, while the turnover of assets, size and age impacts positively and significantly. Third, the sign of the impacts depends on the measure of performance. Finally, firms in the Northern region show superior performance, which can be explained by the higher share of family firms. These findings can serve as a roadmap for managers when selecting strategies to improve performance. Additionally, they will contribute to the understanding of tourism destination dynamics and competitiveness.

show abstract

“…We also included several control variables to measure company characteristics, as suggested by [4,5,26]. These variables are:…”

Section: Controlsmentioning

confidence: 99%

Section: Controlsmentioning

confidence: 99%

“…This variable is expressed in natural logarithms as in [5,34]. Older companies are more knowledgeable about the market and the activity.…”

Section: Age Is Measured By the Years Of Activitymentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

See 2 more Smart Citations

The Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourism

2022

View full text Add to dashboard Cite

show abstract

“…Our analysis includes several control variables that can influence the level of indebtedness within a firm. First, since older firms may require less debt because they tend to grow at a slower rate and may have accumulated internal funds over time [78], we controlled for firm age, which was measured as the natural logarithm of the number of years since the firm's inception until 2016 [79]. Second, as large firms have advantages over small firms (more investment opportunities to grow, solvency or reputation in society, among others), which are expected to favour the attraction of more financing and considering that the inclusion of women in corporate governance bodies depends on firm size [80,81], we took into account such variable in our models.…”

Section: Control Variablesmentioning

confidence: 99%

Does the Female Presence in Corporate Governance Influence the Level of Indebtedness in Agri-Food Family Firms?

2021

Self Cite

View full text Add to dashboard Cite

Family firms form the backbone of most of the world’s economies. While the issues surrounding family firms are diverse, gender diversity and its impact on the strategic and financial decisions of such firms is a topic that has generated significant debate in recent years. In particular, one of the most crucial unresolved questions is whether or not increasing the female presence in the family firms’ corporate governance bodies would be beneficial for improving their internal functioning. To shed new light on these issues, our study aims to examine the influence of gender diversity on the level of indebtedness of Spanish agri-food family firms. Specifically, and applying a risk-aversion perspective, the research goal is to analyse whether the female presence in corporate governance structures (board of directors, top management team and general shareholders’ meeting) influences the level of firm indebtedness. To test the suggested relationships, ordinary least square regression models were applied to a sample of 137 firms. The final sample was obtained by combining quantitative data from the SABI database and qualitative data from a survey conducted by the Spanish Institute of Family Firms and the Spanish Network of Family Business Chairs. This study reveals an inverse relationship of female presence in the board of directors, in the top management team, and in the general shareholders’ meeting on the level of indebtedness of Spanish agri-food family firms. In other words, the findings show that female presence in corporate governance structures contributes to enhanced business management behaviour and, thus, to a better utilisation of firms’ financing strategies. The obtained results have very important practical and social implications, insofar as they contribute to the building of a more inclusive and sustainable business world, aimed at reducing gender inequality at top positions in firms.

show abstract

Innovation efficiency and firm performance in a benchmarking context

Kanellopoulos

Tsekouras

2022

Manage Decis Econ

View full text Add to dashboard Cite

This paper examines the effect of innovation efficiency on firm performance using the Greek version of the Community Innovation Survey (CIS) 2012-2014 and employs a dataset of 1,274 innovative manufacturing firms. Introducing a data envelopment analysis (DEA)-type benchmarking strategy with non-continuous knowledge inputs, the main findings suggest that innovation efficiency, although does not exert a direct impact on firm performance, moderates the relationship between the internally generated knowledge and firm performance. On the other hand, such a moderation relationship is not confirmed for the relationship between external knowledge and innovation spillovers on firm's performance. Although the impact of the embodied to innovation inputs spillovers, on firm performance, is always positive and significant, empirical results indicate that absorptive capacity exhibits diminishing returns with respect to performance.

show abstract

Refining the influence of family involvement in management on firm performance: The mediating role of technological innovation efficiency

Cited by 28 publications

References 132 publications

The Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourism

The Financial Performance of Family versus Non-Family Firms Operating in Nautical Tourism

Does the Female Presence in Corporate Governance Influence the Level of Indebtedness in Agri-Food Family Firms?

Innovation efficiency and firm performance in a benchmarking context

Contact Info

Product

Resources

About