Pub Date : 1900-01-01DOI: 10.3280/cgrds1-2022oa13806
Francesco Gangi, Eugenio D'Angelo, Lucia Michela Daniele, Maria Coscia
Using a sample of 21 centenarian family firms from European countries over the 2008-2020 study period, we verify if corporate social responsibility (CSR) engagement can help the longevity of the centenarian family firms. In particular, consistent with the stakeholder theory and resource-based view, we find that the corporate social performance (CSP) has a positive impact on the corporate financial performance of family firms, even during a period affected by international financial crisis that stressed the survival of firms. Hence, based on the concept of CSR as a co-specialized asset that improves other assets, such as resilience, corporate identity, reputation and stakeholder influence capability, our results show that CSR engagement represents a key to longevity and a solution to the potential trade-off between the socioemotional wealth and the financial performance of centenarian family firms
{"title":"Does corporate social responsibility help the longevity of centenarian family firms in Europe?","authors":"Francesco Gangi, Eugenio D'Angelo, Lucia Michela Daniele, Maria Coscia","doi":"10.3280/cgrds1-2022oa13806","DOIUrl":"https://doi.org/10.3280/cgrds1-2022oa13806","url":null,"abstract":"Using a sample of 21 centenarian family firms from European countries over the 2008-2020 study period, we verify if corporate social responsibility (CSR) engagement can help the longevity of the centenarian family firms. In particular, consistent with the stakeholder theory and resource-based view, we find that the corporate social performance (CSP) has a positive impact on the corporate financial performance of family firms, even during a period affected by international financial crisis that stressed the survival of firms. Hence, based on the concept of CSR as a co-specialized asset that improves other assets, such as resilience, corporate identity, reputation and stakeholder influence capability, our results show that CSR engagement represents a key to longevity and a solution to the potential trade-off between the socioemotional wealth and the financial performance of centenarian family firms","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131795220","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}
Pub Date : 1900-01-01DOI: 10.3280/cgrds1-2022oa13777
G. Dossena, Francesca Magno
Family firms' longevity is an understudied but highly relevant topic. Understanding the factors that drive family firms' longevity is essential not only to improve the strategies of existing firms but also to inform investors' decisions to support start-ups, taking on the responsibility of long-term allocation of resources. Hence, the purpose of this study is to advance available knowledge by examining relevant cases of bicentenary firms. Specifically, the research relies on a qualitative approach based on interviews. Several themes emerged from the analysis: the symbiotic relationship between the entrepreneur and the company (internal symbiosis) and between the company and its territory (external symbiosis) as one of the main causes of company longevity; longevity as a process; longevity as both a lever and a liability; the interplay between change and preservation.
{"title":"Family firms' longevity: Evidence from the Italian experience","authors":"G. Dossena, Francesca Magno","doi":"10.3280/cgrds1-2022oa13777","DOIUrl":"https://doi.org/10.3280/cgrds1-2022oa13777","url":null,"abstract":"Family firms' longevity is an understudied but highly relevant topic. Understanding the factors that drive family firms' longevity is essential not only to improve the strategies of existing firms but also to inform investors' decisions to support start-ups, taking on the responsibility of long-term allocation of resources. Hence, the purpose of this study is to advance available knowledge by examining relevant cases of bicentenary firms. Specifically, the research relies on a qualitative approach based on interviews. Several themes emerged from the analysis: the symbiotic relationship between the entrepreneur and the company (internal symbiosis) and between the company and its territory (external symbiosis) as one of the main causes of company longevity; longevity as a process; longevity as both a lever and a liability; the interplay between change and preservation.","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129773870","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}
Pub Date : 1900-01-01DOI: 10.3280/cgrds1-2022oa13752
Gundula Glowka, A. Zehrer, Lena Leifeld
Being in business over a century, Centenarian family firms (CFF) have demonstrated that they adapt to a changing competitive market environment and successfully established longevity, including an efficient succession routine and dynamic capabilities. While family firms are considered to possess a strong set of values (Lumpkin & Brigham, 2011), it has not been observed, which value sets are vital for longevity. Through the close connection between the individual values of family members and the business itself, values influence the behaviour of CFF (Astrachan et al., 2002; Dyer, 2003; Gersick et al., 1997). Conducting nine qualitative interviews, we identify that CFF balance values for change, which leads to innovation, and values for conserving the status quo of the firm in an equilibrium.
百年家族企业(CFF)已经经营了一个多世纪，已经证明他们适应了不断变化的竞争市场环境，并成功地建立了长寿，包括有效的继任程序和动态能力。虽然家族企业被认为拥有一套强大的价值观(Lumpkin & Brigham, 2011)，但尚未观察到，哪些价值观对长寿至关重要。通过家族成员的个人价值观与企业本身之间的密切联系，价值观影响着CFF的行为(Astrachan et al.， 2002;戴尔,2003;Gersick et al.， 1997)。通过9次定性访谈，我们发现CFF平衡了导致创新的变化价值和保持平衡状态下公司现状的价值。
{"title":"Values of centenarian family firms as a source of longevity","authors":"Gundula Glowka, A. Zehrer, Lena Leifeld","doi":"10.3280/cgrds1-2022oa13752","DOIUrl":"https://doi.org/10.3280/cgrds1-2022oa13752","url":null,"abstract":"Being in business over a century, Centenarian family firms (CFF) have demonstrated that they adapt to a changing competitive market environment and successfully established longevity, including an efficient succession routine and dynamic capabilities. While family firms are considered to possess a strong set of values (Lumpkin & Brigham, 2011), it has not been observed, which value sets are vital for longevity. Through the close connection between the individual values of family members and the business itself, values influence the behaviour of CFF (Astrachan et al., 2002; Dyer, 2003; Gersick et al., 1997). Conducting nine qualitative interviews, we identify that CFF balance values for change, which leads to innovation, and values for conserving the status quo of the firm in an equilibrium.","PeriodicalId":379511,"journal":{"name":"CORPORATE GOVERNANCE AND RESEARCH & DEVELOPMENT STUDIES","volume":"306 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"1900-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123093991","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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