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Nonfamily Firms (nonfamily + firm)
Selected AbstractsEmbeddedness Perspectives of Economic Action Within Family FirmsENTREPRENEURSHIP THEORY AND PRACTICE, Issue 6 2009Lloyd P. Steier Family firms are embedded in social structures that differ substantially from those of nonfamily firms. While these social structures can be sources of strength, they can also lead to dysfunctional consequences. The four papers and three commentaries contained in this special issue on theories of family enterprise deal with the various positive and negative aspects of family involvement in a firm. The purpose of this introduction is to attempt to establish linkages between these papers and to provide further insights on their contributions to knowledge and the directions that future research might take to build upon them. [source] Toward a Theoretical Basis for Understanding the Dynamics of Strategic Performance in Family FirmsENTREPRENEURSHIP THEORY AND PRACTICE, Issue 6 2008James J. Chrisman An important distinction between family and nonfamily firms and among different types of family firms is the manner in which strategy is formulated and implemented. These differences in strategic behaviors can cause variations in firm performance. Understanding the nature of these differences and how the family form of organization drives them therefore contributes to the development of a strategic management theory of the family firm, a unifying theme of the series of special issues published in Entrepreneurship Theory and Practice to date. This article briefly reflects on the progress made in understanding the strategic differences of family firms in this ongoing series and discusses the contributions of the articles and commentaries contained in this fifth special issue on theories of family enterprise. [source] Personalism, Particularism, and the Competitive Behaviors and Advantages of Family Firms: An IntroductionENTREPRENEURSHIP THEORY AND PRACTICE, Issue 6 2006James J. Chrisman Fundamental assumptions of any theory of the family firm are that family firms will behave in ways that differ from nonfamily firms, and that the behaviors of family firms will also exhibit substantial variations. This special issue includes a set of articles and commentaries that study such differences. This introduction synthesizes these articles using the concepts of personalism and particularism. We argue that the set of articles contained in this special issue contributes to the literature by explaining how the ability and willingness of family firms to behave in an idiosyncratic fashion leads to advantages and disadvantages that distinguish between family and nonfamily firms and between different types of family firms. [source] Do Family Firms Provide More or Less Voluntary Disclosure?JOURNAL OF ACCOUNTING RESEARCH, Issue 3 2008SHUPING CHEN ABSTRACT We examine the voluntary disclosure practices of family firms. We find that, compared to nonfamily firms, family firms provide fewer earnings forecasts and conference calls, but more earnings warnings. Whereas the former is consistent with family owners having a longer investment horizon, better monitoring of management, and lower information asymmetry between owners and managers, the higher likelihood of earnings warnings is consistent with family owners having greater litigation and reputation cost concerns. We also document that family ownership dominates nonfamily insider ownership and concentrated institutional ownership in explaining the likelihood of voluntary disclosure. Using alternative proxies for the founding family's presence in the firm leads to similar results. [source] Delineating Publicly Listed Family and Nonfamily Controlled Firms: An Approach for Capital Market Research in Australia,JOURNAL OF SMALL BUSINESS MANAGEMENT, Issue 3 2007Nicholas A. Mroczkowski Recent capital market research evidence suggests that a large proportion of public companies worldwide are characterized by controlling stockholders who are more often families, usually the founder(s) or their descendants. There has been considerable debate on whether "family" firms can indeed be accurately delineated from nonfamily firms given the diversity and abundance of family business definitions in the literature. This paper provides a robust definition of family business for the purposes of capital market research. Using an accounting-based definition of family business, the paper outlines a four-step procedure that provides validation for identifying family controlled companies listed on the Australian Stock Exchange. A significant feature of the research methodology was reliance on data collected from the Australian Securities and Investments Commission. Having access to the corporate regulator's restricted data enabled the researchers to establish important links between directors and their private related entities. [source] | ||||||||||