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  • 1.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership). Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership). Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Accepting and implementing change in family firms within and across generations2012Conference paper (Refereed)
  • 2.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Nordqvist, Mattias
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Entrepreneurial exit strategies in family firm portfolios2013Conference paper (Refereed)
  • 3.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Nordqvist, Mattias
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Exit strategies in family firm portfolios2014Conference paper (Refereed)
  • 4.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Nordqvist, Mattias
    Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Surviving the legacy: Sensemaking of emotions and exit in portfolio firmsManuscript (preprint) (Other academic)
  • 5.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Sieger, P.
    Ramirez-Pasillas, Marcela
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Transgenerational growth in family business portfolios: Strategies and the rural and urban context2017Conference paper (Refereed)
  • 6.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Sieger, Philipp
    University of St. Gallen, Switzerland.
    If we cannot have it then no one should: Shutting down versus selling in family business portfolios2015In: Academy of Management Proceedings, January 2015 (Meeting Abstract Supplement) 15764, 2015 / [ed] John Humphreys, 2015Conference paper (Refereed)
    Abstract [en]

    The present study investigates exit patterns in family business portfolios in times of declining performance. Drawing on social identity theory and a sample of six family business portfolios from Pakistan, we reveal that business families often prefer shutting down satellite portfolio firms rather than selling them. This is found to be mainly driven by the identity fit of the family and the satellite business and the desire to restart it at a later point in time. This study contributes to literature on portfolio entrepreneurship, business exit, and long-term success and endurance of family firms.

  • 7.
    Akhter, Naveed
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Strategies and Markets Department, ESSCA School of Management, Angers, France.
    Sieger, Philipp
    Department of Management and Entrepreneurship, University of Bern, Bern, Switzerland.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). EGADE Business School, Tecnológico de Monterrey, Monterrey, Mexico.
    If we can't have it, then no one should: Shutting down versus selling in family business portfolios2016In: Strategic Entrepreneurship Journal, ISSN 1932-4391, E-ISSN 1932-443X, Vol. 10, no 4, 371-394 p.Article in journal (Refereed)
    Abstract [en]

    How does a business family manage its business portfolio in times of declining performance to sustain the portfolio's long-term endurance? Drawing on social identity theory and six family business portfolios from Pakistan, we find that business families may prefer to shut down a satellite business rather than sell it, which is primarily driven by identity considerations. In addition, the family's goal to recycle the assets, the aim to restart the business later, and the increasing decline in performance are important contingency factors. This study contributes to the literature on portfolio entrepreneurship, business exit, and the enduring entrepreneurship of family firms.

  • 8.
    Baù, Massimo
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Baboukardos, Diogenis
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Voluntary Adoption of International Financial Reporting Standards and the Role of Family Ownership2014In: IFERA 2014: annual conference June 24-27, 2014, Lappeenranta, Finland, 2014Conference paper (Refereed)
  • 9.
    Baù, Massimo
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Hoskisson, Robert E.
    Rice University, USA.
    Pathak, Seemantini Madhukar
    University of Missouri, USA.
    Acquisition and Divestitures in Family and Non-Family Firms2015Conference paper (Refereed)
    Abstract [en]

    Combining the core-periphery model with family firm literature, we find that family firms exhibit unique acquisition and divestiture behaviors. Analyzing a sample of Swedish privately held limited companies we find that family firms acquire and divest distant, unrelated and larger but fewer businesses. In addition to economic objectives, family firms pursuing non-economic objectives prefer to buy and sell unrelated businesses at longer geographic distances to lower impact on their core business from their restructuring activities.

  • 10.
    Baù, Massimo
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Hoskisson, Robert E.
    Rice University, USA.
    Pathak, Seemantini Madhukar
    University of Missouri, USA.
    Portfolio Restructuring in Family and Non-Family-Controlled Firms2016In: Academy of Management Proceedings, January 2016 (Meeting Abstract Supplement) 12016 / [ed] John Humphreys, 2016Conference paper (Refereed)
    Abstract [en]

    Are family firms’ corporate restructuring behaviors distinct from those of non-family firms? Although the corporate restructuring literature has drawn on economic motives for restructuring, recent developments in the family business literature suggest that both economic and noneconomic motives may result in distinct restructuring behaviors between family and non-family firms. We use Swedish Census data and draw on a sample of privately held family and non-family Swedish firms for the period between 2004 and 2007. Applying the core- periphery model to the family-firm corporate-restructuring context, we posit that family firms undertake restructuring at the periphery of their business to lower the impact on their core business. Our results support our arguments and show that compared with non-family firms, family firms acquire and divest more geographically distant, unrelated and larger but fewer businesses.

  • 11.
    Baù, Massimo
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Zahra, Shaker
    Carlson School of Management.
    Self-Employment Or Employment After Exit: The Effect Of An Entrepreneur’s Age And Gender2013In: Frontiers of Entrepreneurship Research 2013 : Proceedings of the Thirty-third Annual Entrepreneurship Research Conference / [ed] Andrew Zacharakis, Boston: Babson , 2013, Vol. 33, 1Conference paper (Refereed)
    Abstract [en]

    Building on career literature, we predict that an entrepreneur’s age at the time of re-entry has a unique and complex non-linear effect on the choice to become self-employed versus employed after an exit. Based on a database covering the whole Swedish population, we studied 79,356 entrepreneurs who experienced exit in a five year window (2000-2004) and we examined their career choice as self-employed versus employed. Our results show an inverted S-shaped curve which follows the career lifecycle stages (early, middle, and late). Also, we demonstrate that gender (man vs. woman) moderate the entrepreneur’s age/re-entry relationship.

  • 12.
    Baù, Massimo
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Eddleston, Kimberly
    Northeastern University.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Lucia, Naldi
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Parental Altruism. Special Treatment for Offspring in Business?2014Conference paper (Refereed)
  • 13.
    Baù, Massimo
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Sieger, Philipp
    University of St. Gallen & University of Bern, Switzerland.
    Eddleston, Kimberly A.
    D'Amore-McKim School of Business, Northeastern University, USA.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Fail but try again?: The effects of age, gender, and multiple-owner experience on failed entrepreneurs’ reentry2016In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520Article in journal (Refereed)
    Abstract [en]

    We investigate what leads failed entrepreneurs to reenter entrepreneurship by taking a developmental career perspective. Specifically, we hypothesize that the age of failed entrepreneurs has a non-linear relationship with the likelihood of reentering entrepreneurship that follows different career stages (early, middle, and late). The gender of failed entrepreneurs and multiple-owner experience in the failed firm are hypothesized to be moderators of this relationship. We test our hypotheses using a database consisting of the Swedish population, including 4,761 entrepreneurs who failed between 2000 and 2004. Analyzing their career paths over the years following their failure offers support for our theoretical expectations.

    The full text will be freely available from 2018-07-12 08:00
  • 14.
    Campopiano, Giovanna
    et al.
    Witten/Herdecke University, Witten, Germany.
    De Massis, Alfredo
    Lancaster University Management School, Centre for Family Business, IEED, Lancaster, UK.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Firm Philanthropy in Small- and Medium-Sized Family Firms: The Effects of Family Involvement in Ownership and Management2014In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248, Vol. 27, no 3, 244-258 p.Article in journal (Refereed)
    Abstract [en]

    Drawing on stewardship theory and arguments in relation to social and reputational capital, this study investigates how family involvement affects engagement in firm philanthropy in small- and medium-sized family firms. Specifically, we argue that family involvement in ownership positively influences firm philanthropy while its interaction with family involvement in management produces a negative effect. Based on a sample of 130 Italian family firms, our findings offer important implications for theory and practice and pave the way for future research in the field of philanthropy in the family firm context.

  • 15.
    Carnes, Christina Matz
    et al.
    University of Nebraska-Lincoln.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Hitt, Michael A.
    Texas A&M University.
    Huh, Dong Wook
    Frostburg State University.
    Pisano, Vincenzo
    University of Catania.
    Resource Orchestration for Innovation: Structuring and Bundling Resources in Growth- and Maturity-Stage Firms2016In: Long range planning, ISSN 0024-6301, E-ISSN 1873-1872, Vol. 50, no 4, 472-486 p.Article in journal (Refereed)
    Abstract [en]

    Innovation is an important outcome for firms across all life-cycle stages, though challenges to this goal vary by a firm's stage of development. In this study, we integrate resource orchestration with contingency theory to theorize how managers differentially orchestrate their firm's resource portfolio and capabilities to develop innovation based on the firm's life-cycle stage. Empirical tests using primary data collected from 189 managers of U.S. and Italian firms based on the policy capturing method provide support for our hypotheses. Overall, this research contributes to our understanding of how firms manage their resources to create innovation over the firm's life-cycle.

  • 16.
    Chirico, Francesco
    University of Lugano.
    An empirical examination of the FITS family-business model2007In: The Management Case Study Journal, ISSN 1445-033X, Vol. 7, no 1, 55-77 p.Article in journal (Refereed)
    Abstract [en]

    The present case study research is based on the 'FITS family-business model' aimed at exploring the process that leads to value creation in family business through the lens of knowledge, dynamic capabilities and family culture. Four family-business case studies from Italy and Switzerland are presented and interesting results emerge to support the FITS's view of value creation in family business. Case studies have been analysed and developed closely with the practising entrepreneurs of the family business interviewed.

  • 17.
    Chirico, Francesco
    University of Lugano.
    Improving the long-run survival of family firms: Knowledge-management and resource-shedding processes2008Doctoral thesis, comprehensive summary (Other academic)
  • 18.
    Chirico, Francesco
    University of Lugano, Switzerland.
    Knowledge accumulation in family firms: evidence from four case studies2008In: International Small Business Journal, ISSN 0266-2426, E-ISSN 1741-2870, Vol. 26, no 4, 433-462 p.Article in journal (Refereed)
    Abstract [en]

    The aim of this article is to make a contribution to the understanding of how knowledge can be accumulated in family business. Four family firms from Switzerland and Italy are part of this research. Existing literature combined with the case studies analysed lead to the development of a model that outlines factors responsible for knowledge accumulation viewed as an `enabler of longevity' in family business.The relationships depicted in the model can be read by researchers as hypotheses and suggestions for further research, and by managers as possible factors needed to accumulate knowledge in order to be successful across generations.

  • 19.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. University of Lugano.
    Knowledge models in family business: evidence from Ticino region (Switzerland)2008In: Culture-Specific Models of Family Businesses: A Compendium using GLOBE Paradigm / [ed] Gupta, V., Levenburg, N., Moore, L., Motwani, J., and Schwarz, T., ICFAI Press , 2008Chapter in book (Refereed)
  • 20.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    The creation, sharing and transfer of knowledge in family business2008In: Journal of Small Business and Entrepreneurship, ISSN 0827-6331, Vol. 21, no 4, 413-433 p.Article in journal (Refereed)
    Abstract [en]

    This present research aims at investigating how "knowledge-related human capital" can be accumulated, i.e. created, shared and transferred, in family business over time. "Knowledge-related human capital" is viewed as pure knowledge and skill which family members have gained and developed through education and experience within and outside the organization. Two wine-producing family firms from Switzerland and a liqueur family firm from Italy are part of this research. A tentative knowledge model is presented at the end of the study. It analyses factors responsible for the accumulation process of knowledge in family business across generations.

  • 21.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Financial Distress in Family and Non-Family-Controlled Firms2016In: Academy of Management Proceedings, January 2016 (Meeting Abstract Supplement) 12016 / [ed] John Humphreys, 2016Conference paper (Refereed)
    Abstract [en]

    In this study we heed the call from a growing number of scholars to extend our understanding of performance differences between family and non-family firms. Drawing on the mixed gamble logic of the behavioral agency model and the socioemotional wealth prospective, we provide a more fine-grained understanding of the unique role and diverse logic of dominant owners in relation to performance outcomes. Our findings suggest that family firms are the worst among the best (i.e. among firms that do not experience financial distress, they perform worse) and the best among the worst (i.e. among firms that experience financial distress, they perform better), which we attribute to the fact that family owners have more firm specific current wealth to lose (including not only financial wealth but also SEW), and as such respond differently to financial distress.

  • 22.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Is the Family an "Asset" or "Liability" for Firm Performance? The Moderating Role of Environmental Dynamism2014In: Journal of small business management (Print), ISSN 0047-2778, E-ISSN 1540-627X, Vol. 52, no 2, 210-225 p.Article in journal (Refereed)
    Abstract [en]

    By integrating the stewardship and agency perspectives, our study extends the understanding of the dynamics that regulate the family as either an asset or liability for the firm. Our results show that the percentage of family members on the top management team (TMT) has an inverted U-shaped relationship with firm performance. However, when environmental dynamism is low this curvilinear relationship becomes steeper. When environmental dynamism is high, an increased percentage of family members on the TMT enhances firm performance.

  • 23.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Is the Family an Asset or Liability? The Role of Environmental Dynamism on Family Firm Performance2013Conference paper (Refereed)
  • 24.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Colombo, Gianluca
    An experimental examination of the Fits family-business model: new insights from a simulation study through system dynamics2008In: Theoretical developments and future research in family business / [ed] Phillip H. Phan and John E. Butler, Charlotte, N.C.: Information Age Publishing, 2008, 77-116 p.Chapter in book (Refereed)
  • 25.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Hellerstedt, Karin
    Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership). Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Mattias, Nordqvist
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Business Exit in Family vs. Non-Family Firms: When Emotional Logic Overrules Rational Judgment2012Conference paper (Refereed)
  • 26.
    Chirico, Francesco
    et al.
    Texas A&M University, Mays Business School, College Station, TX, USA.
    Ireland, Duane
    Texas A&M University, Mays Business School, College Station, TX, USA.
    Sirmon, David
    Texas A&M University, Mays Business School, College Station, TX, USA.
    Franchising and the family firm: creating unique sources of advantage through ‘familiness’2011In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 35, no 3, 483-501 p.Article in journal (Refereed)
    Abstract [en]

    The paucity of research examining family firms engaged with franchising is surprising. We theorize about differences in franchising behavior between family and nonfamily firms and the relative advantages accruing to family firms in this context. We also explore how selection processes tend to lead to family franchisor/family franchisee matches that enable a more effective sharing of complementary resources. The theoretical framework we develop is grounded in the “familiness” of the family firm as suggested by the logic of the resource based view. Additionally, our theoretical analysis extends and complements the frequent use of agency theory as the basis for studying franchising

  • 27.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Naldi, Lucia
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Criaco, Giuseppe
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Socioemotional Wealth and Innovation in Family Firms: When the Environment Gets Tough, the Family Gets Going!2014Conference paper (Refereed)
  • 28.
    Chirico, Francesco
    et al.
    University of Lugano / Texas A&M University.
    Nordqvist, Mattias
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Dynamic capabilities and transgenerational value creation in family firms: The role of organizational culture2010In: International Small Business Journal, ISSN 0266-2426, E-ISSN 1741-2870, Vol. 28, no 5, 487-504 p.Article in journal (Refereed)
    Abstract [en]

    While some research on entrepreneurship in family businesses has focused on transgenerational value creation, a gap exists in understanding how such value is generated across generations. The present research offers insights through the lens of dynamic capabilities, which are created by knowledge and in turn generate entrepreneurial performance and value creation. A model is built based on literature and case research. The crucial role of the organizational culture emerges through the empirical study. Family inertia is considered to be a factor preventing the creation of dynamic capabilities. We find that family inertia depends on characteristics of the family business culture, where paternalism and entrepreneurial orientation influence family inertia positively and negatively, respectively. Family firms from Switzerland and Italy active in the beverage industry represent the empirical context. Theoretical and practical implications are offered.

  • 29.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Nordqvist, Mattias
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Colombo, Gianluca
    University of Lugano, Lugano, Switzerland.
    Mollona, Edoardo
    University of Bologna, Bologna, Italy.
    Simulating Dynamic Capabilities and Value Creation in Family Firms: Is Paternalism an "Asset" or a "Liability"?2012In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248, Vol. 25, no 3, 318-338 p.Article in journal (Refereed)
    Abstract [en]

    The authors conduct a simulation study using system dynamics methods to interpret how and when paternalism affects dynamic capabilities (DCs) and by association value creation in family firms. Their simulation experiments suggest that the effect of paternalism on DCs and value creation varies over time. Initially, increasing levels of family social capital and low levels of paternalism are associated with high rates of DCs and value creation accumulation (asset). Later, higher levels of paternalism produce their pressure to decrease DCs, value creation, and family social capital accumulation rates (liability)

  • 30.
    Chirico, Francesco
    et al.
    University of Lugano (USI) - Institute of Management, Centre for Entrepreneurship & Family Firms (CEF), Lugano, Switzerland.
    Salvato, Carlo
    Bocconi University-Management Department, Milan, Italy.
    Knowledge integration and dynamic organizational adaptation in family firms2008In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248, Vol. 21, no 2, 169-181 p.Article in journal (Refereed)
    Abstract [en]

    The speed of change in competitive environments has prompted firms to develop processes directed at enabling organizational adaptation. This is captured by the concept of dynamic capabilities. We focus on a particular form of business organization, that is, the family firm. Specifically, we argue that knowledge integration—a dynamic capability through which family members' specialized knowledge is recombined—guides the evolution of capabilities. We present a general framework illustrating factors that affect knowledge integration in family firms. We conclude that only those family firms that are able to effectively integrate individual family members' specialized knowledge will be successful in dynamic markets by changing their capabilities over time.

  • 31.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Salvato, Carlo
    Bocconi University.
    Knowledge internalization and product development in family firms: When relational and affective factors matter2016In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 40, no 1, 201-229 p.Article in journal (Refereed)
    Abstract [en]

    Understanding the forces that support and inhibit product development (PD) in family firms is central to explaining their long-term success and survival. Our study reveals that social capital and relational conflict among family members do not affect PD directly, as existing theory suggests, but only through the internalization of knowledge among family members. In contrast, family members’ affective commitment to the family firm is so powerful that it has both a mediated and a direct effect on PD. These results differ across generations of the controlling family, therefore offering an extension of existing theories of knowledge and PD in family firms.

  • 32.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). EGADE Business School, Tecnológico de Monterrey.
    Salvato, Carlo
    Bocconi University.
    Byrne, Barbara
    University of Ottawa.
    Akhter, Naveed
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Arriaga Múzquiz, Juan
    EGADE Business School, Tecnológico de Monterrey .
    Commitment escalation to a failing family business2017In: Journal of small business management (Print), ISSN 0047-2778, E-ISSN 1540-627XArticle in journal (Refereed)
    Abstract [en]

    The overarching intent of this manuscript is to heighten awareness to the concept of commitment escalation as it bears on a failing family business. Specifically, drawing on the concept of emotional ownership, together with self-justification arguments, we a) identify factors considered to be most forceful in contributing to the presence of commitment escalation and thus, resistance to change in a failing family business (i.e., emotional ownership, feeling of responsibility, investment of capital, temporal distance from the founder’s business, individualism/collectivism), and b) model these related factors in a form that can serve heuristically to stimulate future empirical research capable of testing for the construct validity of commitment escalation in a family business context. We present potential items that may be useful for future scholars in measuring our constructs of interest as they relate to a failing family business.

  • 33.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Texas A and M University, Mays Business School, College Station, United States.
    Sirmon, David G.
    Texas A and M University, Mays Business School, College Station, United States.
    Sciascia, Salvatore
    IULM University, Italy.
    Mazzola, Pietro
    IULM University, Italy.
    Entrepreneurial Orientation, Generational Involvement and Participative Strategy: A Configurational Approach to Performance in Family Firms2011In: Academy of Management 2011 Annual Meeting: West meets East. Enlightening. Balancing. Transcending, New York: Academy of Management , 2011Conference paper (Refereed)
    Abstract [en]

    To better understand the entrepreneurship in family firms, we consider the joint interaction effect of entrepreneurial orientation (EO), generational involvement and participative strategy. Drawing on the logic of resource orchestration, we argue that participative strategy acts as a coordinating mechanism that not only mitigates the relational conflict that increased generational involvement generates when mobilized EO, but also enhances family firms' ability to utilize the heterogeneous, yet complementary knowledge and experiences generational involvement offers. Configuring participative strategy and EO with generational involvement provides the direction and coordination needed to unlock the potential value of these unique resources. Our theory suggests that realizing the benefits from entrepreneurship in family firms is a complicated matter, affected by the configuration of EO, generational involvement and participative strategy.

  • 34.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Sirmon, David G.
    Mays Business School, Texas A&M University, College Station, Texas, U.S.A..
    Sciascia, Salvatore
    Marketing and Economics Department, IULM University, Milan, Italy.
    Mazzola, Pietro
    Marketing and Economics Department, IULM University, Milan, Italy.
    Resource orchestration in family firms: Investigating how entrepreneurial orientation, generational involvement, and participative strategy affect performance2011In: Strategic Entrepreneurship Journal, ISSN 1932-4391, Vol. 5, no 4, 307-326 p.Article in journal (Refereed)
    Abstract [en]

    Drawing on the process of resource orchestration, we argue a co-alignment of multiple factors is needed for family firms to increase performance through entrepreneurship. Specifically, we posit that entrepreneurial orientation provides the mobilizing vision to use the heterogeneous yet complementary knowledge and experiences offered by increased generational involvement toward entrepreneurship. However, without a coordinating mechanism, generational involvement leads to conflict and negative outcomes. When, instead, it is also coordinated via a participative strategy, performance gains are achieved. In sum, results suggest that realizing the benefits from entrepreneurship in family firms is a complicated matter affected by the synchronization of entrepreneurial orientation, generational involvement, and participative strategy. Copyright © 2011 Strategic Management Society.

  • 35. Colombo, Gianluca
    et al.
    Koiranen, Matti
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. University of Lugano.
    Le imprese familiari: Sistemi di generazione di valore attraverso le generazioni2008In: AIDEA, Mulino Editore , 2008Chapter in book (Refereed)
  • 36.
    Criaco, Guiseppe
    et al.
    RSM Erasmus University, Rotterdam, Zuid-Holland, Netherlands.
    Sieger, Philipp
    Department of Management and Entrepreneurship, University of Bern, Switzerland.
    Wennberg, Karl
    Department of Management and Organization, Stockholm School of Economics, Sweden.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Minola, Tommaso
    Università degli studi di Bergamo, Italy.
    Parents' performance in entrepreneurship as a "double-edged sword" for the intergenerational transmission of entrepreneurship2017In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913Article in journal (Refereed)
    Abstract [en]

    We investigate how perceived parents’ performance in entrepreneurship (PPE) affects the entrepreneurial career intentions of offspring. We argue that while perceived PPE enhances offspring’s perceived entrepreneurial desirability and feasibility because of exposure mechanisms, it weakens the translation of both desirability and feasibility into entrepreneurial career intentions due to upward social comparison mechanisms. Thus, perceived PPE acts as a double-edged sword for the intergenerational transmission of entrepreneurship. Our predictions are tested and confirmed on a sample of 21,895 individuals from 33 countries. This study advances the literature on intergenerational transmission of entrepreneurship by providing a foundation for understanding the social psychological conditions necessary for such transmission to occur.

  • 37.
    Dawson, Alexandra
    et al.
    Concordia University, Quebec - John Molson School of Business.
    Irving, P. Gregory
    Independent.
    Sharma, Pramodita
    Wilfrid Laurier University.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Markus, Joel
    Wilfrid Laurier University.
    Behavioural outcomes of next-generation family members’ commitment to their firm2014In: European Journal of Work and Organizational Psychology, ISSN 1359-432X, E-ISSN 1464-0643, Vol. 23, no 4, 570-581 p.Article in journal (Refereed)
    Abstract [en]

    Are there variations in behaviours and leadership styles of next-generation family members or descendants who join their family business due to different forms of commitment? Evidence from a dual respondent study of 109 Canadian and Swiss family firms suggests that descendants with affective commitment to their family firms are more likely to engage in discretionary activities going beyond the job description, thereby contributing to organizational performance. Next-generation members with normative commitment are more likely to engage in transformational leadership behaviours. Both affectively and normatively motivated next-generation members use contingent reward forms of leadership. A surprising finding of this study is the binding force of normative commitment on positive leadership behaviours of next-generation members. This study empirically tests the generalizability of the three-component model of commitment to family businesses, a context in which different forms of commitment may play a unique role.

  • 38.
    Dawson, Alexandra
    et al.
    John Molson School of Business, Concordia University, Montreal, Canada.
    Sharma, Pramodita
    School of Business Administration, University of Vermont, Burlington, USA.
    Irving, P. Gregory
    School of Business and Economics, Wilfrid Laurier University, Waterloo, Canada.
    Markus, Joel
    Faculty of Liberal Arts & Professional Studies, York University, Toronto, Canada.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Predictors of later-generation family members' commitment to family enterprises2015In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 39, no 3, 545-569 p.Article in journal (Refereed)
    Abstract [en]

    This study examines the antecedents of different bases of organizational commitment and intention to stay of later-generation family members who are currently working in their family firm. Evidence from 199 Canadian and Swiss firms indicates that when these individuals' identity and career interests are aligned with their family enterprise, they experience affective commitment. Family expectations are associated with normative commitment. Individuals who are concerned about losing inherited financial wealth or who perceive a lack of alternative career paths stay with the family enterprise because of continuance commitment. Finally, individuals driven by desire or obligation exhibit low turnover intentions.

  • 39.
    De Massis, Alfredo
    et al.
    Lancaster University Management School, Lancaster, UK.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Kotlar, Josip
    Lancaster University Management School, Lancaster, UK.
    Naldi, Lucia
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    The temporal evolution of proactiveness in family firms: the horizontal s-curve hypothesis2014In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248, Vol. 27, no 1, 35-50 p.Article in journal (Refereed)
    Abstract [en]

    We extend prior work on proactiveness in family firms by examining the relationship between firm age and proactiveness. Specifically, we propose an S-shaped effect of aging of family firms on proactiveness. Additionally, we provide a contingency perspective by considering the moderating role of the dispersion of managerial control among family members. Using a sample of Swiss family firms, we find that proactiveness first declines, then increases, and finally decreases again as the family firm ages, and that this relationship is steeper when the managerial control is dispersed among multiple family members.

  • 40.
    DeTienne, Dawn R.
    et al.
    Colorado State University, USA.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Exit strategies in family firms: how socioemotional wealth drives the threshold of performance2013In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 37, no 6, 1297-1318 p.Article in journal (Refereed)
    Abstract [en]

    Although research has shown the ability to exit from both successful and unsuccessful ventures is important to founders, families, firms, industries, and overall economic health, exiting from a family firm can be especially challenging. In this paper, we examine exit strategies in the context of the family firm and the family firm portfolio. Drawing upon threshold theory and the socioemotional wealth perspective, we develop a model that provides guiding theoretical explanations for exit strategies. We address two questions: (1) why do family owners develop specific exit strategies, and (2) how do these strategies differ within family firms and family firm portfolios? In doing so, we contribute to family business, portfolio entrepreneurship, and exit literatures.

  • 41.
    Granata, Darya
    et al.
    University of Lugano, Lugano, Switzerland.
    Chirico, Francesco
    Texas A&M University, Mays Business School.
    Measures of value in acquisitions: Family versus non family firms2010In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248, Vol. 23, no 4, 341-354 p.Article in journal (Refereed)
    Abstract [en]

    This article sheds light on the valuation of family firms when compared with nonfamily firms as acquisition targets. The authors argue that although the majority of theoretical and empirical research explicitly recognizes the prevalence and superior performance of family firms around the world, acquiring companies tend to regard family firms as unprofessional and inefficient organizations, thus negatively affecting their valuation when compared with nonfamily firm targets. Overall, the authors’ empirical analysis, based on a matched-pairs methodology and use of multiples, shows that acquiring companies favor the stagnation perspective rather than the stewardship perspective and thus pay less (i.e., acquire at a discount) for a family firm target than for a nonfamily firm target.

  • 42. Granata, Darya
    et al.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).
    Gazzola, Patrizia
    Sale: An alternative succession route for family firms: Valuation issues and acquirers' perception2011Book (Refereed)
    Abstract [en]

    Family firms form the majority of organizations around the world. However, only few survive beyond the first generation. Traditionally, intergenerational succession has been equated to the success. Within the family business literature succession is the most researched domain. However, very little has been said about alternatives to intergenerational transfer. The view that handing over the family firm to the children is the only way to go appears somewhat limited. Indeed, family business owners often use the term “pass along” to mean both transferring ownership to the next generation and selling the firm to pass along the wealth. In effect, some families want and can be passed on to multiple generations, while others may be unwilling or unable to do so. Empirical research suggested that some owners may perceive that there are no suitable family members to whom ownership and leadership can be transferred. Accordingly, for some business families an exit can be a positive choice. This book focuses on family firm sale, with a particular emphasis on valuation and acquirers’ perception of family firm targets.

  • 43.
    Hoskisson, Robert E.
    et al.
    Rice University, Houston, Texas, USA.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Zyung, Jinyong D.
    Rice University, Houston, Texas, USA.
    Gambeta, Eni
    Rice University, Houston, Texas, USA.
    Managerial risk taking: A multi-theoretical review and future research agenda2017In: Journal of management, ISSN 0149-2063, E-ISSN 1557-1211, Vol. 43, no 1, 137-169 p.Article in journal (Refereed)
    Abstract [en]

    Managerial risk taking is a critical aspect of strategic management. To improve competitive advantage and performance, managers need to take risks, often in an uncertain environment. Formal economic assumptions of risk taking suggest that if the expected values for two strategies are similar but one is a greater gamble (uncertain), managers will choose the strategy with a more certain outcome. Based on these assumptions, agency theory assumes that top managers should be compensated or monitored to achieve better outcomes. We review the theory and research on agency theory and managerial risk taking along with theories that challenge this basic assumption about risk taking: the behavioral theory of the firm, prospect theory, the behavioral agency model and the related socioemotional wealth perspective, and upper echelons theory. We contribute to the literature by reviewing and suggesting research opportunities within and across these theories to develop a comprehensive research agenda on managerial risk taking.

  • 44.
    Koiranen, Matti
    et al.
    University of Jyväskylä, Finland.
    Chirico, Francesco
    University of Lugano, Switzerland.
    Family firms as arenas for trans-generational value creation: a qualitative and computational approach2006Book (Other academic)
  • 45.
    Minola, Tommaso
    et al.
    Università degli Studi di Bergamo.
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    De Massis, Alfredo
    Lancaster University Management School.
    Organizational Slack and Firm Performance in Family Firms: the Role of Family Involvement and Technological Intensity2013Conference paper (Refereed)
  • 46.
    Naldi, Lucia
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Jönköping University, Jönköping International Business School, JIBS, Business Administration.
    Criaco, Giuseppe
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Family Involvement and Innovation in Family Firms: The Moderating Role of Environmental Munificence2013Conference paper (Refereed)
  • 47.
    Naldi, Lucia
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Kellermanns, Franz
    Department of Management, Stokely Management Center, University of Tennessee.
    Campopiano, Giovanna
    Witten Institute for Family Business (WIFU), University of Witten/Herdecke, Witten, Germany.
    All in the family? An exploratory study of family member advisors and firm performance2015In: Family Business Review, ISSN 0894-4865, E-ISSN 1741-6248, Vol. 28, no 3, 227-242 p.Article in journal (Refereed)
    Abstract [en]

    This exploratory study investigates the relationship between family members serving in an advising capacity and family firm performance. Integrating the stewardship and agency perspectives, we predict an inverted U-shaped relationship between the number of family advisors and family firm performance. We argue that the generation in control moderates this relationship such that family member advisors have a positive relationship with performance in first-generation family firms and an inverted U-shaped relationship with performance in later-generation family firms. Our empirical analysis on a sample of 128 Swedish family firms confirms our hypotheses. In the concluding section, we discuss results, contributions, and future research directions.

  • 48.
    Nordqvist, Mattias
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Sharma, Pramodita
    School of Business Administration, University of Vermont.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    Family firm heterogeneity and governance: a configuration approach2014In: Journal of small business management (Print), ISSN 0047-2778, E-ISSN 1540-627X, Vol. 52, no 2, 192-209 p.Article in journal (Refereed)
    Abstract [en]

    Family involvement in ownership and management of business varies significantly within family firms. Although the literature recognizes the diversity in family firms, it remains unclear what governance mechanisms are most appropriate to achieve prioritized performance goals of different types of family firms. By combining two established categorizations of family involvement in firm ownership and management, nine types of family firms are identified. Drawing on the configuration approach, we theorize the governance mechanisms likely to most efficiently address the incentive systems, authority relations, and norms of legitimization in each of these types of family firms.

  • 49.
    Pittino, Daniel
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. University of Udine, Department of Economics and Statistics, Udine, Italy.
    Martínez, Ascensión Barroso
    Department of Business Management, University of Extremadura, Badajoz, Spain.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Galván, Ramón Sanguino
    Department of Business Management, University of Extremadura, Badajoz, Spain.
    Psychological ownership, knowledge sharing and entrepreneurial orientation in family firms: The moderating role of governance heterogeneity2017In: Journal of Business Research, ISSN 0148-2963, E-ISSN 1873-7978Article in journal (Refereed)
    Abstract [en]

    Adopting a stewardship perspective and relying on a sample of 93 Spanish family firms, we emphasize the importance of psychological ownership as a primary determinant of entrepreneurial orientation in terms of proactiveness, innovativeness and risk taking. We also suggest that the relationship between psychological ownership and entrepreneurial orientation is mediated by knowledge sharing. Finally, we assess the potential moderating roles of heterogenous governance conditions in terms of the generation in control, generational involvement and family involvement in the top management team with regard to the relationship between psychological ownership and knowledge sharing. Research and managerial implications are shared in the concluding section.

  • 50. Salvato, Carlo
    et al.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership.
    L’integrazione della conoscenza quale fattore di successo nelle imprese familiari operanti in contesti dinamici2008In: Strategie di crescita e di internazionalizzazione delle family SMEs nel contesto globale e distrettuale / [ed] A. M. Bruno, M. Pironti, CEDAM , 2008Chapter in book (Refereed)
12 1 - 50 of 55
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