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Publications (10 of 145) Show all publications
Ponomareva, Y., Nordqvist, M. & Umans, T. (2019). Family firm identities and firm outcomes: A corporate governance bundles perspective. In: E. Memili & C. Dibrell (Ed.), The Palgrave handbook of heterogeneity among family firms: (pp. 89-114). Cham: Palgrave Macmillan
Open this publication in new window or tab >>Family firm identities and firm outcomes: A corporate governance bundles perspective
2019 (English)In: The Palgrave handbook of heterogeneity among family firms / [ed] E. Memili & C. Dibrell, Cham: Palgrave Macmillan, 2019, p. 89-114Chapter in book (Refereed)
Abstract [en]

We address the issue of family firm heterogeneity and its implications for corporate governance and firm outcomes. We apply social identity theory to differentiate between clan and financial family firm identities and to explain how the domination of each identity leads to distinct governance needs and choices. We propose that family firms dominated by a clan identity will employ a unified bundle of internal corporate governance mechanisms, enhancing non-financial performance outcomes. A financial family firm identity will, on the other hand, result in implementation of a dispersed corporate governance bundle, enhancing the firm’s financial outcomes.

Place, publisher, year, edition, pages
Cham: Palgrave Macmillan, 2019
Keywords
Social identity theory; Family firm heterogeneity; Corporate governance bundles
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-42571 (URN)10.1007/978-3-319-77676-7_5 (DOI)2-s2.0-85063769017 (Scopus ID)978-3-319-77676-7 (ISBN)978-3-319-77675-0 (ISBN)
Available from: 2019-01-10 Created: 2019-01-10 Last updated: 2019-08-07Bibliographically approved
Muñoz-Bullón, F., Sanchez-Bueno, M. J. & Nordqvist, M. (2019). Growth intentions in family-based new venture teams: The role of the nascent entrepreneur’s R&D behavior. Management Decision
Open this publication in new window or tab >>Growth intentions in family-based new venture teams: The role of the nascent entrepreneur’s R&D behavior
2019 (English)In: Management Decision, ISSN 0025-1747, E-ISSN 1758-6070Article in journal (Refereed) Epub ahead of print
Abstract [en]

Purpose: The purpose of this paper is to investigate how family ties in new venture teams (NVTs) influence the intended future growth of a nascent entrepreneur’s business. The authors posit that R&D-oriented entrepreneurs in NVTs with family ties have higher growth intentions relative to those who are less oriented toward R&D.

Design/methodology/approach: The hypotheses were tested using data from the Panel Study of Entrepreneurial Dynamics II (PSED II). One distinctive feature of the PSED is that it is based on a random sample of 1,214 nascent entrepreneurs in the process of starting new ventures in the USA, which overcomes the recall biases associated with surveying entrepreneurs already in business and potential survivorship biases.

Findings: The results show that growth intentions in NVTs with family ties is greater when the nascent entrepreneur shows an R&D behavior, even though the presence of family members in the team is negatively related to the intentions of nascent entrepreneurs with regard to new venture growth. This effect is attributed to entrepreneurs’ long-term vision and a more favorable attitude toward change.

Research limitations/implications: Data on startup teams in the PSED II come from one team member (the respondent). Therefore, differences in perceptions regarding growth intentions cannot be determined. Moreover, the sample consisted exclusively of nascent entrepreneurs in the USA.

Practical implications: Knowledge about the determinants of growth intentions during the venture creation phase becomes relevant if we want to influence and support the growth of newly founded firms. Nascent entrepreneurs need to understand the trade-off between emotional and financial concerns.

Social implications: Nascent entrepreneurs more oriented toward R&D become more risk tolerant, and may accept certain losses to their emotional endowment in favor of pure financial goals, being more able to access the additional external resources (tangible and intangible) needed for growth.

Originality/value: The research expands previous evidence on the family involvement-performance debate in large firms by focusing on new ventures with family ties, with distinctive characteristics that may affect growth intentions. The authors also shed new light on the interplay between family business and entrepreneurship. In particular, the research helps gain an understanding of how NVTs with family ties deal with the opposition between the benefits from venture growth and the tendency to preserve team member’s emotional attachment. 

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2019
Keywords
Entrepreneurship, Family ties, Growth intentions, New venture teams, Research and development behaviour
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-44376 (URN)10.1108/MD-08-2018-0942 (DOI)2-s2.0-85065536522 (Scopus ID);IHHCeFEOIS (Local ID);IHHCeFEOIS (Archive number);IHHCeFEOIS (OAI)
Available from: 2019-06-11 Created: 2019-06-11 Last updated: 2019-06-11
Chirico, F., Gómez-Mejia, L. R., Hellerstedt, K., Withers, M. & Nordqvist, M. (2019). To merge, sell or liquidate? Socioemotional wealth, family control, and the choice of business exit. Journal of Management
Open this publication in new window or tab >>To merge, sell or liquidate? Socioemotional wealth, family control, and the choice of business exit
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2019 (English)In: Journal of Management, ISSN 0149-2063, E-ISSN 1557-1211Article in journal (Refereed) Epub ahead of print
Abstract [en]

We take the perspective that considering the affective motives of dominant owners is essential to understanding business exit. Drawing on a refinement of behavioral agency theory, we argue that family-controlled firms are less likely than non-family-controlled firms to exit and tend to endure increased financial distress to avoid losses to the family’s socioemotional wealth (SEW) embodied in the firm. Yet, when confronted with different exit options and performance heuristics suggest that exit is unavoidable family firms are more likely to exit via merger, which we argue saves some SEW, although it is less satisfactory financially. In contrast, non-family firms are more likely to exit via sale or dissolution, options that are more prone to offer higher financial returns than mergers. Family and non-family firms thus show different orders of exit options. We find support for these arguments in a longitudinal matched sample of privately held Swedish firms.

Place, publisher, year, edition, pages
Sage Publications, 2019
Keywords
Family business; business exit; financial distress; behavioral agency model; socioemotional wealth
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-42191 (URN)10.1177/0149206318818723 (DOI)IHHCeFEOIS (Local ID)IHHCeFEOIS (Archive number)IHHCeFEOIS (OAI)
Funder
Ragnar Söderbergs stiftelse
Available from: 2018-12-03 Created: 2018-12-03 Last updated: 2019-01-30
Fitz-Koch, S., Nordqvist, M., Carter, S. & Hunter, E. (2018). Entrepreneurship in the agricultural sector: A literature review and future research opportunities. Entrepreneurship: Theory & Practice, 42(1), 129-166
Open this publication in new window or tab >>Entrepreneurship in the agricultural sector: A literature review and future research opportunities
2018 (English)In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 42, no 1, p. 129-166Article, review/survey (Refereed) Published
Abstract [en]

Heeding calls for contextualizing entrepreneurship research and for greater attention to the role of sector in entrepreneurship research, we conduct a systematic literature review of extant research in agricultural entrepreneurship. Recent and rapid vertical integration and rationalization within the agricultural sector provides a dynamic setting for scholars to investigate entrepreneurship theory and practice. We identify three key contextual dimensions of the agricultural sector: identity, family, and institutions, which provide promising opportunities for future research and the potential to contribute to and extend current theoretical and empirical analyses of entrepreneurship research.

Place, publisher, year, edition, pages
Sage Publications, 2018
Keywords
Entrepreneurship, agriculture, context, systematic literature review, sector studies
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-40871 (URN)10.1177/1042258717732958 (DOI)000428026600006 ()2-s2.0-85053557208 (Scopus ID)IHHCeFEOIS (Local ID)IHHCeFEOIS (Archive number)IHHCeFEOIS (OAI)
Available from: 2018-06-28 Created: 2018-06-28 Last updated: 2018-10-19Bibliographically approved
Ramirez-Pasillas, M., Lundberg, H. & Nordqvist, M. (2018). Everyday practices of corporate venturing. In: 78th Annual Meeting of the Academy of Management, AOM 2018, Academy of Management , 2018, Vol. 1: . Paper presented at 78th Annual Meeting of the Academy of Management, AOM 2018, Chicago, Ill., United States, 10 - 14 August 2018. Academy of Management, 2018
Open this publication in new window or tab >>Everyday practices of corporate venturing
2018 (English)In: 78th Annual Meeting of the Academy of Management, AOM 2018, Academy of Management , 2018, Vol. 1, Academy of Management , 2018, Vol. 2018Conference paper, Published paper (Refereed)
Abstract [en]

While research on corporate venturing is growing, most existing studies are conceptual or designed to uncover broader empirical patterns and they take a managerial approach. Recently scholars have called for taking into account the role of the ownership context in corporate venturing as well as the practices that constitute the micro processes of corporate venturing. This paper heeds this call by studying the corporate venturing activities of next generation members in family owned businesses (FOBs), and drawing on a practice theory lens inspired by Michel de Certeau to address the following research question: How do next generation family members go about in everyday life to realise their new venture ideas? Empirically the study is based on in-depth case research into three Mexican FOBs where next generation family members are engaged in launching new ventures. The study reveals five everyday practices of corporate venturing associated with motivation and relating logics of owning family members and show how these practices emanate out of existing dominant strategic orders that are present in the owning family context. The five practices represent appropriation efforts of family members to make-do corporate venturing part of their daily life. The findings suggest that although the dominant strategic orders limit the corporate venturing efforts of family members temporarily, individuals may find ways around them to overcome power issues. The study extends the understanding of everyday practices of corporate venturing in the FOB context as well as the meaning of Certeau’s practice theory.

Place, publisher, year, edition, pages
Academy of Management, 2018
Series
Academy of Management Annual Meeting Proceedings, ISSN 2151-6561
Keywords
everyday practices, corporate venturing, family, Mexico, next generation
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-42582 (URN)10.5465/AMBPP.2018.18120abstract (DOI)
Conference
78th Annual Meeting of the Academy of Management, AOM 2018, Chicago, Ill., United States, 10 - 14 August 2018
Available from: 2019-01-11 Created: 2019-01-11 Last updated: 2019-01-11Bibliographically approved
Brumana, M., Minola, T., Waldkirch, M. & Nordqvist, M. (2018). Investigating resource exchanges in internal corporate venturing: Decision framing, risk and consequences for venture autonomy. In: : . Paper presented at The International Family Enterprise Research Academy (IFERA), Zwolle, The Netherlands, 3rd – 6th July 2018.
Open this publication in new window or tab >>Investigating resource exchanges in internal corporate venturing: Decision framing, risk and consequences for venture autonomy
2018 (English)Conference paper, Oral presentation with published abstract (Refereed)
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-42478 (URN)
Conference
The International Family Enterprise Research Academy (IFERA), Zwolle, The Netherlands, 3rd – 6th July 2018
Available from: 2019-01-09 Created: 2019-01-09 Last updated: 2019-01-09Bibliographically approved
Lundberg, H., Ramirez-Pasillas, M. & Nordqvist, M. (2018). ‘The Other Within’ as Entrepreneurial Agency. In: : . Paper presented at 3rd Annual Entrepreneurship as Practice Conference and PhD Consortium, April 17-20, 2018, Växjö, Sweden.
Open this publication in new window or tab >>‘The Other Within’ as Entrepreneurial Agency
2018 (English)Conference paper, Published paper (Refereed)
National Category
Economics and Business
Identifiers
urn:nbn:se:hj:diva-42586 (URN)
Conference
3rd Annual Entrepreneurship as Practice Conference and PhD Consortium, April 17-20, 2018, Växjö, Sweden
Available from: 2019-01-11 Created: 2019-01-11 Last updated: 2019-01-11Bibliographically approved
van Helvert, J. & Nordqvist, M. (2017). Entrepreneurship from a Family Business Perspective. In: Robert Blackburn, Dirk De Clercq & Jarna Heinonen (Ed.), The SAGE Handbook of Small Business and Entrepreneurship: (pp. 7-123). Sage Publications
Open this publication in new window or tab >>Entrepreneurship from a Family Business Perspective
2017 (English)In: The SAGE Handbook of Small Business and Entrepreneurship / [ed] Robert Blackburn, Dirk De Clercq & Jarna Heinonen, Sage Publications, 2017, p. 7-123Chapter in book (Other academic)
Place, publisher, year, edition, pages
Sage Publications, 2017
Keywords
Small Business/Entrepreneurship (general), Small & Medium-Sized Enterprises
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-38430 (URN)10.4135/9781473984080.n7 (DOI)9781473925236 (ISBN)9781473984080 (ISBN)
Available from: 2018-01-11 Created: 2018-01-11 Last updated: 2018-01-12Bibliographically approved
Waldkirch, M. & Nordqvist, M. (2017). Finding benevolence in family firms: The case of stewardship theory. In: Franz Kellermanns, Frank Hoy (Ed.), The Routledge companion to family business: (pp. 401-414). New York: Routledge
Open this publication in new window or tab >>Finding benevolence in family firms: The case of stewardship theory
2017 (English)In: The Routledge companion to family business / [ed] Franz Kellermanns, Frank Hoy, New York: Routledge, 2017, p. 401-414Chapter in book (Refereed)
Place, publisher, year, edition, pages
New York: Routledge, 2017
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-34276 (URN)000399599000020 ()2-s2.0-85027376466 (Scopus ID)9781138919112 (ISBN)
Available from: 2016-12-12 Created: 2016-12-12 Last updated: 2017-12-20Bibliographically approved
Boers, B., Ljungkvist, T., Brunninge, O. & Nordqvist, M. (2017). Going private: A socioemotional wealth perspective on why family controlled companies decide to leave the stock-exchange. Paper presented at European-Academy-of-Management Conference, Atlanta, GA, AUG 04-08, 2017. The Journal of Family Business Strategy, 8(2), 74-86
Open this publication in new window or tab >>Going private: A socioemotional wealth perspective on why family controlled companies decide to leave the stock-exchange
2017 (English)In: The Journal of Family Business Strategy, ISSN 1877-8585, E-ISSN 1877-8593, Vol. 8, no 2, p. 74-86Article in journal (Refereed) Published
Abstract [en]

Our purpose is to understand the process of ‘going private’ decisions in family firms by applying a socioemotional wealth (SEW) perspective, specified in the following research questions: how do socioemotional wealth considerations influence owning families’ decisions to delist their publicly-listed companies? How do socioemotional wealth considerations change after the delisting of a firm? Based on case studies of two family firms, we elaborate upon the balancing of socioemotional and financial wealth considerations by the family owners, the assessment of which changes over time. Ultimately, we propose that the experiences from being listed can lead to the reevaluation of financial, as well as socioemotional, wealth considerations. By delisting, the companies reclaim independence and control, and the identity as a private family-owned firm becomes once again pronounced. We develop the SEW-perspective by viewing the decision to delist as a mixed gamble, in that owning families have to weigh personal and financial losses against SEW gains, thereby indicating how SEW-considerations change over time. We find that owning families are willing to sacrifice current SEW, accepting current financial losses for prospective increased SEW. Additionally, in this study we extend the argument that decisions to leave the stock market are tradeoffs between competing factors.

Place, publisher, year, edition, pages
Elsevier, 2017
Keywords
Socioemotional wealth, Family business, Mixed gamble, Going private, Family ownership, Case study
National Category
Business Administration
Research subject
Humanities and Social sciences
Identifiers
urn:nbn:se:hj:diva-35402 (URN)10.1016/j.jfbs.2017.01.005 (DOI)000417670900002 ()2-s2.0-85017464265 (Scopus ID)
Conference
European-Academy-of-Management Conference, Atlanta, GA, AUG 04-08, 2017
Available from: 2017-04-21 Created: 2017-04-21 Last updated: 2018-09-04Bibliographically approved
Organisations
Identifiers
ORCID iD: ORCID iD iconorcid.org/0000-0002-3613-4233

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