Untangling non-economic objectives in family &amp; non-family SMEs: A goal systems approach

Randolph, Robert V.; Alexander, Benjamin Nathan; Debicki, Bart J.; Zajkowski, Robert

doi:10.1016/j.jbusres.2019.02.017

Cited by 27 publications

(40 citation statements)

References 89 publications

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“…Five studies examine the impact of CSR on firm performance. In Poland, Randolph et al (2019) investigate the impact of family objectives and community objectives on firm performance and show a significantly positive relationship. In Mexico, Hernández-Perlines & Ibarra Cisneros ( 2017) analyze 140 small FFs and find that entrepreneurial orientation plays a positive moderator role on the effect of social responsibility on FFs performance.…”

Section: ) Firm Performancementioning

confidence: 99%

“…In Poland, Randolph et al (2019) build on goal systems to investigate the impact of family objectives and community objectives on firm performance measured by means of comparing firms' performance (firm's strategic orientation, relative profitability, investments, and competitive position) with performance in the industry in which the firm operates. Drawing on stakeholder theory, Hernández-Perlines & Rung-Hoch (2017) examine the impact of CSR on FF performance measured by average annual sales growth, average growth of the market share, average profit growth, and average growth of the return on capital in Mexico.…”

Section: ) Firm Performancementioning

confidence: 99%

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Corporate social responsibility in family firms: A systematic literature review

Mariani

Al-Sultan

Massis

2021

Journal of Small Business Management

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The field of CSR in family firms has experienced remarkable growth recently. Therefore, a literature review on the topic is needed to provide an updated overview of extant research and draw guidelines for future research. Using bibliometric mapping, we conducted a systematic literature review (SLR) on corporate social responsibility (CSR) in family business drawing on the Web of Science (WOS) and Scopus databases. The bibliographic coupling conducted suggests that family involvement, corporate governance, and sustainability are the most frequently studied topics. Furthermore, through our SLR, we systematized the studies into an interpretative framework, identifying the drivers and outcomes of CSR practices, processes, and strategies in family business. The study reveals and organizes the state-of-the-art of CSR research in family business, outlines important theoretical implications and develops a future research agenda.

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Section: ) Firm Performancementioning

confidence: 99%

Section: ) Firm Performancementioning

confidence: 99%

Corporate social responsibility in family firms: A systematic literature review

Mariani

Al-Sultan

Massis

2021

Journal of Small Business Management

View full text Add to dashboard Cite

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“…This behavior creates financial constraints that could impede investing in innovation (Carney, 2005). Moreover, family firm behavior is distinctively driven by economic and non-economic goals (Chrisman, Chua, Pearson, & Barnett, 2012;Randolph, Alexander, Debicki, & Zajkowski, 2019). To protect the business for future generations and their noneconomic utilities (Gómez-Mejía, Haynes, Núñez-Nickel, Jacobson, & Moyano-Fuentes, 2007;Kotlar, Signori, De Massis, & Vismara, 2018), family firms tend to be more risk averse (Naldi, Nordqvist, Sjöberg, & Wiklund, 2007) and prefer investments that protect the cash flow of the current business (Morck & Yeung, 2003).…”

Section: Introductionmentioning

confidence: 99%

How does family management affect innovation investment propensity? The key role of innovation impulses

Migliori

Massis

Maturo

et al. 2020

Journal of Business Research

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We investigate the relationship between family management and innovation investment propensity in family firms through analyzing the effect of two innovation impulses: demandpull and technology-push. Extending the technology-push/demand-pull framework to the context of family firms, and adopting a direct measure of firms' innovation investment propensity, we test our hypotheses on a sample of 1,093 Italian small and medium-sized family firms. Our results show that both the demand-pull and technology-push innovation impulses moderate the relationship between family management and the firms' propensity to invest in innovation, reducing the negative effect exerted by family management on family firms' innovation investment propensity. Moreover, our evidence shows that family firms' innovation investments are more sensitive to the demand-pull than the technology-push impulse. Overall, our findings suggest to practitioners and policymakers that family firm innovation impulses are important contingencies that need to be taken into account when making innovation investment decisions.

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“…Fifth, we did not consider other (financial or non-financial) measures of performance. As a matter of fact, some SMEs -and family SMEs in particular -could be motivated towards other non-economic outcomes, such as family objectives and community objectives (Randolph et al, 2019).…”

Section: Discussion Limitations and Future Researchmentioning

confidence: 99%

Director ownership and performance of small and medium enterprises: insights from Northeast Italy

Roffia

2020

Sinergie Italian Journal of Management

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Purpose of the paper:This article examines the relationship between the proportion of shares that are owned by directors and a firm's financial performance in small and medium enterprises (SMEs).Methodology: We collected data on ownership and director structures from 214 SMEs in the provinces of Verona and Vicenza (Italy). We used the return on assets (ROA) ratio as a proxy for financial performance over a 4-year period (2014-2017) and implemented an ordinary least squares (OLS) regression model with time-period and industry fixed effects.Results: We found a statistically significant correlation between director ownership and the ROA ratio and identified a nonlinear relationship indicating that the influence of director ownership on performance may be positive or negative and that both the convergence of interests and entrenchment effects are present, depending on the level of ownership and other contextual variables such as it being a family firm, firm age and generational change.Research limitations: Despite our efforts, reverse causality problems cannot be completely excluded. Collecting data in a limited geographical context over a fouryear period restricts the generalization of our results and the use of the Likert scale (1-5) to evaluate managerial ownership may reduce the accuracy of our analysis.Practical implications: Directors and shareholders should carefully consider the benefits deriving from director ownership in overlapping roles, and regulators could better define corporate governance models.Originality of the paper: This study specifically addressed the issue of director ownership in SMEs by considering their relevant contextual variables, such as family firm, firm age, and generational change.

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Untangling non-economic objectives in family & non-family SMEs: A goal systems approach

Cited by 27 publications

References 89 publications

Corporate social responsibility in family firms: A systematic literature review

Corporate social responsibility in family firms: A systematic literature review

How does family management affect innovation investment propensity? The key role of innovation impulses

Director ownership and performance of small and medium enterprises: insights from Northeast Italy

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