{"title":"In Search of a Ratio for a Non-Rational Domain","authors":"F. Musso","doi":"10.14276/2285-0430.2375","DOIUrl":"https://doi.org/10.14276/2285-0430.2375","url":null,"abstract":"","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"1-2"},"PeriodicalIF":0.0,"publicationDate":"2020-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45490350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper proposes a systematic review of the literature on foreign market entry decision-making. The decision-making process in this area is particularly challenging for companies, given the lack of familiarity with an international environment characterized by increasing complexity and, therefore, a high level of uncertainty. The article adopts a systematic approach to reviewing the literature, to investigate the state of research on the topic, as well as the main theoretical approaches and decision-making processes for entering foreign markets. A total of 64 articles published in international business and international marketing journals are examined. The paper proposes a descriptive and thematic analysis of the articles and highlights the main theoretical approaches adopted, the declinations of the concept of uncertainty, and the entry modes as decision-making contexts. Finally, the paper suggests future directions for research.
{"title":"Foreign market entry decision-making: what do we know so far?","authors":"S. Guercini, M. Milanesi, A. Runfola","doi":"10.14276/2285-0430.2401","DOIUrl":"https://doi.org/10.14276/2285-0430.2401","url":null,"abstract":"The paper proposes a systematic review of the literature on foreign market entry decision-making. The decision-making process in this area is particularly challenging for companies, given the lack of familiarity with an international environment characterized by increasing complexity and, therefore, a high level of uncertainty. The article adopts a systematic approach to reviewing the literature, to investigate the state of research on the topic, as well as the main theoretical approaches and decision-making processes for entering foreign markets. A total of 64 articles published in international business and international marketing journals are examined. The paper proposes a descriptive and thematic analysis of the articles and highlights the main theoretical approaches adopted, the declinations of the concept of uncertainty, and the entry modes as decision-making contexts. Finally, the paper suggests future directions for research.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"133-147"},"PeriodicalIF":0.0,"publicationDate":"2020-12-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42952114","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The paper analyzes the peculiarities and the drivers of the accelerated internationalization strategies of two range hood manufacturers, born as spin-offs, in a small Italian district. Spin-offs are very frequent within industrial districts and can be considered an important way of transferring tacit knowledge from an existing firm to a newly formed one. The present work fits into this cognitive perspective and aims to understand the role played by the founders’ learning processes and the relationships established in previous work activities in the creation of born global firms. This study differs from earlier works on born global firms for two main reasons: a) the object of analysis is a specific sector and a given production hub; b) the phenomenon is examined through the multiple case analysis explorative method. The research not only highlights the regional character of the phenomena, but also delves into the role played by certain external factors (which affect the different attractiveness of foreign markets compared to the domestic one). A further significant aspect emerging from the investigation, relates the founders’ previous working experiences (as an employee/manager), representing a time of learning and development of personal relationships which are able to facilitate the process of accelerated internationalization of the new firm.
{"title":"Born International Spin-Offs in an Italian Industrial District: An Exploratory Study on Two Range Hood Producers","authors":"A. Bellagamba","doi":"10.14276/2285-0430.2388","DOIUrl":"https://doi.org/10.14276/2285-0430.2388","url":null,"abstract":"The paper analyzes the peculiarities and the drivers of the accelerated internationalization strategies of two range hood manufacturers, born as spin-offs, in a small Italian district. Spin-offs are very frequent within industrial districts and can be considered an important way of transferring tacit knowledge from an existing firm to a newly formed one. The present work fits into this cognitive perspective and aims to understand the role played by the founders’ learning processes and the relationships established in previous work activities in the creation of born global firms. This study differs from earlier works on born global firms for two main reasons: a) the object of analysis is a specific sector and a given production hub; b) the phenomenon is examined through the multiple case analysis explorative method. The research not only highlights the regional character of the phenomena, but also delves into the role played by certain external factors (which affect the different attractiveness of foreign markets compared to the domestic one). A further significant aspect emerging from the investigation, relates the founders’ previous working experiences (as an employee/manager), representing a time of learning and development of personal relationships which are able to facilitate the process of accelerated internationalization of the new firm.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"113-132"},"PeriodicalIF":0.0,"publicationDate":"2020-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44237526","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Value creation is a major claim of most companies. Mahajan (2017) argues that “value and value creation are natural to and basic in human behaviour and endeavour”, nevertheless women are often marginalized and impeded in their advancement towards leadership positions, where they could shape and influence the process of value creation. Many large companies in Europe include mainly men in supervisory boards and the women quota is often lower than 20 %. We offer an overview of the women’s presence on the boards of the EURO STOXX 50 companies and we develop a model, which presents eight steps in a strategic performance cycle showing how more women can be integrated in supervisory and management boards so that they can contribute to a better company value in general. The main contribution consists in offering companies a strategic instrument and concrete advices on how the women presence can be increased company-wide and the gender quota on boards can be achieved.
{"title":"Women’s Presence on European Boards and The Performance Cycle of Value Creation as an Instrument to Achieve the Gender Quotas","authors":"Bettina C. K. Binder","doi":"10.14276/2285-0430.2387","DOIUrl":"https://doi.org/10.14276/2285-0430.2387","url":null,"abstract":"Value creation is a major claim of most companies. Mahajan (2017) argues that “value and value creation are natural to and basic in human behaviour and endeavour”, nevertheless women are often marginalized and impeded in their advancement towards leadership positions, where they could shape and influence the process of value creation. Many large companies in Europe include mainly men in supervisory boards and the women quota is often lower than 20 %. We offer an overview of the women’s presence on the boards of the EURO STOXX 50 companies and we develop a model, which presents eight steps in a strategic performance cycle showing how more women can be integrated in supervisory and management boards so that they can contribute to a better company value in general. The main contribution consists in offering companies a strategic instrument and concrete advices on how the women presence can be increased company-wide and the gender quota on boards can be achieved.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"97-111"},"PeriodicalIF":0.0,"publicationDate":"2020-12-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45227490","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The purpose of this paper is to deepen knowledge of entrepreneurial decision-making about global strategies. Towards this goal, it presents a conceptual framework useful for supporting entrepreneurial decisions for globalisation, drawing on an integrated analysis of the external environment and of the internal components, with a specific focus on entrepreneur’s characteristics, in terms of cognitive and emotional profiles. It is suggested to adopt a logical process to identify which strategic levers are available for global players to implement their global strategies. The paper provides several implications. In terms of theoretical implications, existing studies are based on the industrial organization-based theory or on the resource-based theory, while an integrated analysis combining these two aspects seems to be lacking. The proposed framework represents a complete and integrated one devoted to global strategies orientation, it also inserts the ‘entrepreneur matter’ as a variable that affects both the decision-making process and the global decisions’ contents. With regard to managerial implications, this framework can help global entrepreneurial firms or future global entrepreneurial firms to face problems related to the global dimension and make decisions to define the strategic levers for globalisation. It proposes the description of the various variables connected to the external environment, the features of the internal firm, and the personal traits of the entrepreneur, all elements which an entrepreneur-decision-maker should take into account during the decision-making process to attain a successful decision.
{"title":"Global Strategies and Entrepreneurial Firms: The Role of the Entrepreneur’s Features in the Decision-Making Process","authors":"Clara Benevolo, L. Penco, Teresina Torre","doi":"10.14276/2285-0430.2385","DOIUrl":"https://doi.org/10.14276/2285-0430.2385","url":null,"abstract":"The purpose of this paper is to deepen knowledge of entrepreneurial decision-making about global strategies. Towards this goal, it presents a conceptual framework useful for supporting entrepreneurial decisions for globalisation, drawing on an integrated analysis of the external environment and of the internal components, with a specific focus on entrepreneur’s characteristics, in terms of cognitive and emotional profiles. It is suggested to adopt a logical process to identify which strategic levers are available for global players to implement their global strategies. The paper provides several implications. In terms of theoretical implications, existing studies are based on the industrial organization-based theory or on the resource-based theory, while an integrated analysis combining these two aspects seems to be lacking. The proposed framework represents a complete and integrated one devoted to global strategies orientation, it also inserts the ‘entrepreneur matter’ as a variable that affects both the decision-making process and the global decisions’ contents. With regard to managerial implications, this framework can help global entrepreneurial firms or future global entrepreneurial firms to face problems related to the global dimension and make decisions to define the strategic levers for globalisation. It proposes the description of the various variables connected to the external environment, the features of the internal firm, and the personal traits of the entrepreneur, all elements which an entrepreneur-decision-maker should take into account during the decision-making process to attain a successful decision.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"79-95"},"PeriodicalIF":0.0,"publicationDate":"2020-11-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47003003","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The aim is to identify if Recovery Marketing is a Fresh Start Tool for economies after devastation. Through Multi-method study, with a qualitative study based on a Multi-case research with emphasis in Historic Method and Content’s Analyses, and secondary data analyses of some cases of devastated economies, the results show that there are the use of some Marketing Tools and Features, however without a holistic Marketing Approach and either no Recovery Marketing concept as a Fresh Start Tool to renew the place identity after catastrophes. A theoretical contribution of this paper is to produce a new marketing framework as a Fresh Start approach for places after destructions, such as Recovery Marketing, including the analyses of locals and visitors. The managerial implication is the contribution for public and private organisations to help positioning/repositioning a place after devastation, using Recovery Marketing as a Fresh Start Tool.
{"title":"Recovery Marketing for Economies after Devastation. A Multi-Case Research","authors":"Mirian Palmeira, Elder Semprebon","doi":"10.14276/2285-0430.2380","DOIUrl":"https://doi.org/10.14276/2285-0430.2380","url":null,"abstract":"The aim is to identify if Recovery Marketing is a Fresh Start Tool for economies after devastation. Through Multi-method study, with a qualitative study based on a Multi-case research with emphasis in Historic Method and Content’s Analyses, and secondary data analyses of some cases of devastated economies, the results show that there are the use of some Marketing Tools and Features, however without a holistic Marketing Approach and either no Recovery Marketing concept as a Fresh Start Tool to renew the place identity after catastrophes. A theoretical contribution of this paper is to produce a new marketing framework as a Fresh Start approach for places after destructions, such as Recovery Marketing, including the analyses of locals and visitors. The managerial implication is the contribution for public and private organisations to help positioning/repositioning a place after devastation, using Recovery Marketing as a Fresh Start Tool.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"65-78"},"PeriodicalIF":0.0,"publicationDate":"2020-11-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42893899","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The recent history of organizational modelling shows a dominant position of strategy on organization with a weakening of the former in front of growing global complexity and change all over the world. In recent years we have seen organization as “part” of strategy as a dynamic counterweights process of action able to improve managers to take decisions often decoupling them, to put them back together in better and more suitable organizational models for more dynamic stability and gaining resilience in front of innovation and change. We see in digital world – in particular - to the organization as a (quasi)-substitute for an increasingly weaker concept of strategy as linear process and an alternative and flexible solution to the failures by the logic of pure calculation of consequences (deterministic rationalism) or simple reactivity – as describe by Pavlov 100 years ago - (bound by external resources), or enclosed in the narrow spaces of a contingent intuitionism of the Bergsonian type (subjectivism and dependence on the constraints of internal resources). Analyzed rigorously by Weaver in the interaction between complexity and science because all problems which involve dealing simultaneously with a sizable number of factors which are interrelated into an organic whole that needs of a governance action both with or without information or decision. Exaptation is a model mutuated by biology able to produce solution before problems and in particular after post pandemic crisis.
{"title":"Organization Vs. Strategy Towards Rethinking Management for Trajectories of Resilience in World Pandemic Post-Crisis","authors":"L. Pilotti, Alessandra Micheletti","doi":"10.14276/2285-0430.2379","DOIUrl":"https://doi.org/10.14276/2285-0430.2379","url":null,"abstract":"The recent history of organizational modelling shows a dominant position of strategy on organization with a weakening of the former in front of growing global complexity and change all over the world. In recent years we have seen organization as “part” of strategy as a dynamic counterweights process of action able to improve managers to take decisions often decoupling them, to put them back together in better and more suitable organizational models for more dynamic stability and gaining resilience in front of innovation and change. We see in digital world – in particular - to the organization as a (quasi)-substitute for an increasingly weaker concept of strategy as linear process and an alternative and flexible solution to the failures by the logic of pure calculation of consequences (deterministic rationalism) or simple reactivity – as describe by Pavlov 100 years ago - (bound by external resources), or enclosed in the narrow spaces of a contingent intuitionism of the Bergsonian type (subjectivism and dependence on the constraints of internal resources). Analyzed rigorously by Weaver in the interaction between complexity and science because all problems which involve dealing simultaneously with a sizable number of factors which are interrelated into an organic whole that needs of a governance action both with or without information or decision. Exaptation is a model mutuated by biology able to produce solution before problems and in particular after post pandemic crisis.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"53-64"},"PeriodicalIF":0.0,"publicationDate":"2020-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42944505","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
The study appraised the most disputed by the taxpayers, of the sources of the Internally Generated Revenue (IGR) in Lagos State, Nigeria, after the tax audit exercise. Primary data through the administration of structured questionnaire on respondents was adopted. The sample size was 301, using Krejcie & Morgan (1970) formula. Personal Income Tax (PIT), Withholding Tax (WHT), Capital Gains Tax (CGT), Stamp Duties (SD), Pools, Betting, Lotteries, Gaming, and Casino Tax (PBLGCT), and Road Tax (RT), were appraised by the tax experts. The study analysed data using descriptive statistical techniques like percentages and tables. The findings revealed that Road Tax (67.8%), Capital Gains Tax (67.5%), Personal Income Tax (65.7%), and Withholding Tax (61.8%) are the most disputed sources of IGR by the taxpayers. The study recommended for the re-evaluation of tax audit process to bridge the gap of disagreement between the taxpayers and the tax auditors/tax authorities for a more efficient tax administration.
{"title":"Disputations of Tax Audit Assessments on Internally Generated Revenue (IGR) Sources in Lagos State, Nigeria: Experts' Perception","authors":"I. S. Akinadewo","doi":"10.14276/2285-0430.2378","DOIUrl":"https://doi.org/10.14276/2285-0430.2378","url":null,"abstract":"The study appraised the most disputed by the taxpayers, of the sources of the Internally Generated Revenue (IGR) in Lagos State, Nigeria, after the tax audit exercise. Primary data through the administration of structured questionnaire on respondents was adopted. The sample size was 301, using Krejcie & Morgan (1970) formula. Personal Income Tax (PIT), Withholding Tax (WHT), Capital Gains Tax (CGT), Stamp Duties (SD), Pools, Betting, Lotteries, Gaming, and Casino Tax (PBLGCT), and Road Tax (RT), were appraised by the tax experts. The study analysed data using descriptive statistical techniques like percentages and tables. The findings revealed that Road Tax (67.8%), Capital Gains Tax (67.5%), Personal Income Tax (65.7%), and Withholding Tax (61.8%) are the most disputed sources of IGR by the taxpayers. The study recommended for the re-evaluation of tax audit process to bridge the gap of disagreement between the taxpayers and the tax auditors/tax authorities for a more efficient tax administration.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"45-52"},"PeriodicalIF":0.0,"publicationDate":"2020-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44890786","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Understanding the human mind is an issue still characterized by great complexity, despite the fact that over the years the field of neurosciences has made great advances and technology allowed a greater ability to explore the cognitive processes of the human being. In economics, it is important to consider how people’s mind regulates and classifies information for making decisions and the impact that their coding has on emotional reactions, feelings and choices. Since the nineties, behavioral economics has taken on an increasingly important role, especially thanks to the contribution of psychologists Kahneman and Tversky, authors of the first model aimed at formalizing cognitive decision-making mechanisms in uncertain situations. This current of thought is opposed to the principles proposed by the classical economics, based on the hypothesis of rationality of decision makers, able through their choices to maximize the benefits of organizations. On the other side, a cognitive approach to the choices of economic agents considers the influence that a series of cognitive bias have on decision-making processes, which often lead to suboptimal results. The models developed within the behavioral economics do not have as their ultimate goal to replace traditional economic models, but to contribute in providing an explanation of human behavior within the economic sphere that classical principles only partially recognize. Introducing a cognitive approach allows to understand more in depth both human nature and the limits of classical models. The economic perspective assumes that decision-makers are rational and consistent with the objective of maximizing a subjectively expected utility; the behavioral perspective adds more realistic parameters related to the influence of social norms, emotions, environmental factors, taking into account that humans' powers of computation and cogitation are limited, and people are not consistent. Of course, when interpreting economic phenomena, the assumption of purely rational and coherent behavior is unlikely to be realistic. To understand the economic behavior, a multidimensional, interdisciplinary approach becomes necessary, the distance between different research communities must be reduced and opportunities from the integration of research methodologies must be pursued. Sociology, political sciences, psychology, neurosciences, biology, anthropology, can contribute in completing the analytical perspectives that are needed for the exploration of the human behavior in the economic field.
{"title":"Multidimensional and Interdisciplinary Approach for Behavioral Economics","authors":"F. Musso","doi":"10.14276/2285-0430.2284","DOIUrl":"https://doi.org/10.14276/2285-0430.2284","url":null,"abstract":"Understanding the human mind is an issue still characterized by great complexity, despite the fact that over the years the field of neurosciences has made great advances and technology allowed a greater ability to explore the cognitive processes of the human being. In economics, it is important to consider how people’s mind regulates and classifies information for making decisions and the impact that their coding has on emotional reactions, feelings and choices. Since the nineties, behavioral economics has taken on an increasingly important role, especially thanks to the contribution of psychologists Kahneman and Tversky, authors of the first model aimed at formalizing cognitive decision-making mechanisms in uncertain situations. This current of thought is opposed to the principles proposed by the classical economics, based on the hypothesis of rationality of decision makers, able through their choices to maximize the benefits of organizations. On the other side, a cognitive approach to the choices of economic agents considers the influence that a series of cognitive bias have on decision-making processes, which often lead to suboptimal results. The models developed within the behavioral economics do not have as their ultimate goal to replace traditional economic models, but to contribute in providing an explanation of human behavior within the economic sphere that classical principles only partially recognize. Introducing a cognitive approach allows to understand more in depth both human nature and the limits of classical models. The economic perspective assumes that decision-makers are rational and consistent with the objective of maximizing a subjectively expected utility; the behavioral perspective adds more realistic parameters related to the influence of social norms, emotions, environmental factors, taking into account that humans' powers of computation and cogitation are limited, and people are not consistent. Of course, when interpreting economic phenomena, the assumption of purely rational and coherent behavior is unlikely to be realistic. To understand the economic behavior, a multidimensional, interdisciplinary approach becomes necessary, the distance between different research communities must be reduced and opportunities from the integration of research methodologies must be pursued. Sociology, political sciences, psychology, neurosciences, biology, anthropology, can contribute in completing the analytical perspectives that are needed for the exploration of the human behavior in the economic field.","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"9 1","pages":"1-2"},"PeriodicalIF":0.0,"publicationDate":"2020-08-31","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43396053","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
A. Sentuti, Gail Denisse Chamochumbi Diaz, F. Cesaroni
International Journal of Economic Behavior, vol. 10, n. 1, 2020, 3-13 This article examines the relationship between board composition and family firms’ performance. Namely, by adopting the theoretical framework of socio-emotional wealth and analyzing a sample of Italian medium-sized family firms, we investigate how the presence of non-family directors affects their financial performance, considering the generational stage as a moderating variable. Findings suggest that a higher presence of non-family directors has a less positive effect on first-generation family firms than in later generations of family firms. Furthermore, by adopting a quantile regression, results show that this effect is more striking in low-performing family businesses than in high. Keywords : Family Businesses; Board of directors; Firm performance; Non-family directors; Corporate governance; Generational stage; First-generation family firms; Quantile regression
《国际经济行为研究》，vol. 10, no . 1, 2020, 3-13。也就是说，通过采用社会情感财富的理论框架并分析意大利中型家族企业的样本，我们研究了非家族董事的存在如何影响其财务绩效，并将代际阶段作为调节变量。研究结果表明，非家族董事的存在对第一代家族企业的积极影响不如对后代家族企业的积极影响。此外，通过采用分位数回归，结果表明，这种效应在低绩效家族企业中比在高绩效家族企业中更为显著。关键词:家族企业;董事会;公司业绩;非家族成员董事;公司治理;代阶段;第一代家族企业;分位数回归
{"title":"Board Composition and Family Firms’ Profitability. Do Generational Stage and Performance Level Matter?","authors":"A. Sentuti, Gail Denisse Chamochumbi Diaz, F. Cesaroni","doi":"10.14276/2285-0430.2298","DOIUrl":"https://doi.org/10.14276/2285-0430.2298","url":null,"abstract":"International Journal of Economic Behavior, vol. 10, n. 1, 2020, 3-13 This article examines the relationship between board composition and family firms’ performance. Namely, by adopting the theoretical framework of socio-emotional wealth and analyzing a sample of Italian medium-sized family firms, we investigate how the presence of non-family directors affects their financial performance, considering the generational stage as a moderating variable. Findings suggest that a higher presence of non-family directors has a less positive effect on first-generation family firms than in later generations of family firms. Furthermore, by adopting a quantile regression, results show that this effect is more striking in low-performing family businesses than in high. Keywords : Family Businesses; Board of directors; Firm performance; Non-family directors; Corporate governance; Generational stage; First-generation family firms; Quantile regression","PeriodicalId":30526,"journal":{"name":"International Journal of Economic Behavior","volume":"10 1","pages":"37-44"},"PeriodicalIF":0.0,"publicationDate":"2020-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47722222","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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