Thriving family businesses in tourism and hospitality: A systematic review and a synthesis of the relevant literature

Camilleri, Mark Anthony

doi:10.1108/jfbm-10-2021-0133

Cited by 37 publications

(31 citation statements)

References 96 publications

(159 reference statements)

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“…The family has a stock of affective values invested in the firm and its preservation becomes a priority, which makes family businesses different from non-family firms (Chua et al, 2015). Relative to non-family businesses, family firms attach great importance to other relevant values in addition to financial performance, such as family legacy, trust, commitment and reputation (Camilleri and Valeri, 2021).…”

Section: Introductionmentioning

confidence: 99%

Related party transactions and earnings management in family firms: the moderating role of board characteristics

Gavana

Gottardo

Moisello

2022

JFBM

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PurposeThe purpose of this paper is to investigate the effect of family control on the association between related party transactions (RPTs) and different forms of accrual-based earnings management (AEM) and real earnings management (REM), analyzing the effect of board characteristics on the possible association.Design/methodology/approachThis paper studies a sample of Italian non-financial listed firms over the 2014–2019 period, by GLS regression models, controlling for the fixed effects of the company's sector of operation and the year.FindingsResults indicate a different association between RPTs and earnings management (EM) in family and non-family firms. They point out that family firms use RPTs in association with downward AEM and REM perpetrated by abnormal discretionary expenses as well as a substitute of REM via abnormal production costs. For non-family firms, findings indicate only a substitution effect between RPTs and AEM. Furthermore, CEO duality, board gender diversity and the presence of the family on the board positively moderate the association between RPTs and, respectively, REM implemented through sales manipulations, downward AEM and upward AEM.Originality/valueThis study suggests that the socioemotional wealth (SEW) differently affects the relationship between RPTs and EM, according to the form of the latter. It also points out family firms' heterogeneity in earnings manipulations, by providing evidence of the moderating role of board characteristics on the association between RPTs and the various forms of EM.

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Section: Introductionmentioning

confidence: 99%

Related party transactions and earnings management in family firms: the moderating role of board characteristics

Gavana

Gottardo

Moisello

2022

JFBM

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“…Their access to equity or debt financing through traditional institutions like banks and/or other financial service providers is usually very limited (Camilleri, 2018;Boylan et al, 2018). Typically, they are required to provide a collateral to obtain finance, even though, young enterprises and startups with promising opportunities for potential investment may usually prefer having a lower debt/equity ratio (Camilleri and Valeri, 2021;Miglo, 2020).…”

Section: The Use Of Crowdfunding Platforms To Raise Capital Requirementsmentioning

confidence: 99%

“…New businesses like startups, as well as small businesses may usually possess fewer resources including liquidity, than established businesses (Camilleri & Valeri, 2021;Elia et al, 2021). They may also have access to limited competences and capabilities.…”

Section: The Use Of Crowdfunding Platforms To Raise Capital Requirementsmentioning

confidence: 99%

Crowdfunding small businesses and startups: a systematic review, an appraisal of theoretical insights and future research directions

Camilleri

Bresciani

2022

EJIM

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PurposeThis contribution aims to evaluate key theoretical bases that were used in previous research, to investigate the use of crowdfunding platforms by small businesses and startups. It presents the findings from a systematic review to better explain the pros and cons of utilizing these disruptive technologies for crowdsourcing and/or crowd-investing purposes.Design/methodology/approachThe researchers adopt the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) methodical protocol to search, screen, extract and scrutinize seventy-two (72) articles that were indexed in both Scopus and Web of Science. They examine their research questions, describe their methodologies. Afterwards, they synthesize the findings from previous literature, outline implications and discuss about future research avenues.FindingsA thorough review of the relevant literature suggests that there are opportunities as well as challenges for project initiators as well as for crowd-investors, if they are considering equity crowdfunding, peer-to-peer (P2P) lending and rewards-based crowdfunding platforms, among others, to raise awareness about their projects and to access finance from crowd-investors.Research limitations/implicationsFurther research is required on this timely topic. There are a number of theories relating to technology adoption and/or innovation management, strategic management, accounting and financial reporting, and normative/business ethics, among other research areas, that can be utilized as theoretical bases, to explore this topic.Practical implicationsCrowd-investors are striving in their endeavors to find a trade-off between risks and rewards associated with crowd-financing.Originality/valueCurrently, there are few systematic reviews and conceptual articles focused on the crowdfunding of small businesses and startups. Hence this contribution closes this gap in the academic literature. Moreover, it links the extant theory to practice. It clarifies that the resource-based view theory of the firm, the theory of planned behavior, the diffusion of innovations theory as well as the signaling theory, among other conceptual frameworks, can be used to investigate different facets of crowdsourcing and crowd-investing.

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“…In particular, empirical studies on online (social media) business networks are scarce, and such research in family-owned businesses is even more lacking. Family-owned SMEs have distinct characteristics (Camilleri and Valeri, 2021) that can facilitate and/or inhibit technological adoption and business performance (Spriggs et al, 2013). Thus, much research is needed to provide evidence-based analysis on the benefits of online business networks to help improve business performance and the limitations on accessing online support and resources among family-owned SMEs.…”

Section: Theoretical Frameworkmentioning

confidence: 99%

The interplay between digital social capital and family-owned SME performance: a study of social media business networks

Tiwasing

Kim²,

Sawang³

2022

JFBM

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PurposeThis paper aims to examine the relationship between being members of social media business networks and SME performance by comparing business performance between family-owned SMEs that are members and non-members of social media business networks.Design/methodology/approachThe analysis empirically draws on cross-sectional data of 9,292 English and Welsh family-owned SMEs from the UK's Government Small Business Survey 2015. Propensity Score Matching (PSM) is applied to control for selection bias and differences in firm characteristics before comparing business performance, measured in terms of annual turnover, sales-growth intention and innovation between family-owned SMEs that are members and non-members of social media business networks.FindingsThe findings show that family-owned SMEs that are members of social media business networks are more likely to have higher prior turnover and to grow their sales than non-members. Also, they are more likely to report being innovative in products and processes than non-members. The empirical results acknowledge the importance of online business networks and digital social capital on enhanced family-owned business performance.Originality/valueThis paper is the first to explore the comparative analysis of business performance between family-owned SMEs that are members and non-members of social media business networks. This paper is important for the development of family business research by providing a comprehensive evidence-based analysis regarding the importance of online business networks to improve family-owned business performance, given the significant contribution of digital business activities to the UK economy.

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Thriving family businesses in tourism and hospitality: A systematic review and a synthesis of the relevant literature

Cited by 37 publications

References 96 publications

Related party transactions and earnings management in family firms: the moderating role of board characteristics

Related party transactions and earnings management in family firms: the moderating role of board characteristics

Crowdfunding small businesses and startups: a systematic review, an appraisal of theoretical insights and future research directions

The interplay between digital social capital and family-owned SME performance: a study of social media business networks

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