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  • 51.
    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, E-ISSN 1932-443X, Vol. 5, no 4, p. 307-326Article 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.

  • 52.
    Chirico, Francesco
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Centre for Family Entrepreneurship and Ownership (CeFEO). Macquarie Business School, Macquarie University, Department of Management, Sydney, Australia.
    Welsh, Dianne H. B.
    Bryan School of Business & Economics, The University of North Carolina at Greensboro, United States.
    Ireland, R. Duane
    Mays Business School, Texas A&M University, College Station, Texas, United States.
    Sieger, Philipp
    Department of Management and Entrepreneurship, University of Bern, Switzerland.
    Family versus non-family firm franchisors: Behavioral and performance differences2020In: Journal of Management Studies, ISSN 0022-2380, E-ISSN 1467-6486Article in journal (Refereed)
    Abstract [en]

    Drawing from resource-based theory, we argue that family firm franchisors behave and perform differently compared to non-family firm franchisors. Our theorizing suggests that compared to a non-family firm franchisor, a family firm franchisor cultivates stronger relationships with franchisees and provides them with more training. Yet, we predict that a family firm franchisor achieves lower performance than a non-family firm franchisor. We argue, however, that this performance relationship reverses itself when family firm franchisors are older and larger. We test our hypotheses with a longitudinal dataset including a matched-pair sample of private U.S. family and non-family firm franchisors.

  • 53. 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)
  • 54.
    Criaco, Giuseppe
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). Department of Strategic Management and Entrepreneurship, Rotterdam School of Management (RSM), Erasmus University Rotterdam.
    Withers, Michael
    Department of Management, Mays Business School, Texas A&M University.
    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).
    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).
    The Mobility of Family and Non-Family Firm Employees2019Conference paper (Refereed)
  • 55.
    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 1573-0913, Vol. 49, no 4, p. 841-864Article 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.

  • 56.
    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, p. 570-581Article 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.

  • 57.
    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, p. 545-569Article 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.

  • 58.
    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 (CeFEO).
    Kotlar, Josip
    Lancaster University Management School, Lancaster, UK.
    Naldi, Lucia
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    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, p. 35-50Article 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.

  • 59.
    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, p. 1297-1318Article 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.

  • 60.
    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, p. 341-354Article 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.

  • 61. 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.

  • 62.
    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, p. 137-169Article 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.

  • 63.
    Iyer, Dinesh N.
    et al.
    Rutgers University, School of Business, Camden, NJ, USA.
    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).
    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). Tecnológico de Monterrey, EGADE Business School, Mexico.
    Patel, Pankaj C.
    Management and Operations, Villanova University, Villanova, PA, USA.
    Brush, Thomas H.
    Krannert School of Management, Purdue University, West Lafayette, IN, USA.
    The triggers of local and distant search: Relative magnitude and persistence in explaining acquisition relatedness2019In: Long range planning, ISSN 0024-6301, E-ISSN 1873-1872, Vol. 52, no 5, article id 101825Article in journal (Refereed)
    Abstract [en]

    Research on problemistic search has assumed negative attainment discrepancy to be the trigger of both local and distant search. Extending this research, we present and compare two additional triggers: (1) relative attainment discrepancy, which reflects how much a firm's attainment discrepancy deviates from its past negative attainment discrepancies; and (2) persistent attainment discrepancy, which reflects how often the firm experiences below-aspirations performance. Our triggers for distant search model a behavioral explanation for the timing and relatedness of acquisitions. We find support for baseline arguments of problemistic search whereby firms increase both industry- and skill-related acquisitions when they perform below aspirations. When they persistently perform below aspirations, however, this likelihood is reduced and firms engage in acquisitions that are more unrelated, thereby providing support for the notion of expanding search boundaries from local to distant search. Of the two triggers of distant search proposed, relative attainment discrepancy does not induce firms to expand search boundaries. Our results indicate that persistent attainment discrepancy is a key construct to consider when studying the expansion of search boundaries.

  • 64.
    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)
  • 65.
    Lorenzo Gómez, José Daniel
    et al.
    Universidad de Cádiz, España.
    Núñez-Cacho Utrilla, Pedro
    Universidad de Jaénn, España.
    Akhter, Naveed
    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).
    Boundaries in innovation and path dependence in family business2018Conference paper (Refereed)
  • 66. Minola, T.
    et al.
    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).
    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).
    De Massis, A.
    Behind Slack and Firm Performance: The Moderating Roles of Family Ownership and High-Tech Industry2016Conference paper (Refereed)
  • 67.
    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)
  • 68.
    Minola, Tommaso
    et al.
    University of Bergamo, Italy.
    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).
    De Massis, Alfredo
    Free U. Bozen, Bolzano and Lancaster U..
    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 Bern, Switzerland.
    Slack and Financial Performance in SMEs: Slack Discretion, Family Ownership, and Hi-Tech Sectors2017In: Academy of Management Proceedings January 2017 (Meeting Abstract Supplement) 16406, Academy of Management , 2017Conference paper (Refereed)
    Abstract [en]

    Following intensive recent debates, the literature still offers ambiguous results on the ultimate effect of slack resources on firm performance, particularly in small and medium-sized enterprises (SMEs). We address this gap by examining how two different types of slack resources (high- and low-discretion slack) affect firm performance and how these relationships are moderated by family ownership and by operating in a high-tech industry. Using a sample of 8,345 Italian SME we show that slack is not always beneficial to firm performance and that the slack-performance relationship is contingent on both internal and external factors.

  • 69.
    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)
  • 70.
    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, p. 227-242Article 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.

  • 71.
    Nordqvist, Mattias
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Sharma, Pramodita
    School of Business Administration, University of Vermont.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    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, p. 192-209Article 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.

  • 72. Pellegrini, M. M.
    et al.
    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).
    Is blood too thicker than water? Social capital and dynamic capabilities in family firms. A qualitative longitudinal analysis2015Conference paper (Refereed)
  • 73.
    Pittino, Daniel
    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). Macquarie Business School - Macquarie University, Department of Management, Sydney, Australia.
    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).
    Villasana, Marcia
    Tecnologico de Monterrey, EGADE Business School, Mexico.
    Naranjo-Priego, Elvira E.
    Tecnologico de Monterrey, Escuela de Ciencias Sociales y Gobierno, Mexico.
    Barron, Elda
    Universidad de Monterrey, Management Department, Mexico.
    Starting a family business as a career option: The role of the family household in Mexico2020In: The Journal of Family Business Strategy, ISSN 1877-8585, E-ISSN 1877-8593Article in journal (Refereed)
    Abstract [en]

    This study analyses the determinants of an individual’s intention to start up a new venture thatinvolves family members. Building on the family embeddedness perspective, we hypothesize theexistence of an inverted U-shaped relationship between the number of individuals in a familyhousehold and the intention to start a family business. Moreover, we argue that this relationship ismoderated by the household income and the individual’s education level. With supportiveempirical results based on data from the Global Entrepreneurship Monitor (GEM) from Mexico,our work contributes to research on family embeddedness and entrepreneurial career intentionsby identifying the importance of household-level factors in the family business start-up decision,and by depicting such decision as a distinctive career option in terms of self-employment.

  • 74.
    Pittino, Daniel
    et al.
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Centre for Family Entrepreneurship and Ownership (CeFEO).
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Centre for Family Entrepreneurship and Ownership (CeFEO). Macquarie Business School, Macquarie University, Department of Management, Sydney, Australia.
    Baù, Massimo
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Centre for Family Entrepreneurship and Ownership (CeFEO).
    Villasana, Marcia
    Tecnologico de Monterrey, EGADE Business School, San Pedro Garza García, N.L., Mexico.
    Naranjo-Priego, Elvira E.
    Tecnologico de Monterrey, Escuela de Ciencias Sociales, Monterey, N.L., Mexico.
    Barron, Elda
    Universidad de Monterrey, Management Department, San Pedro Garza García, N.L., Mexico.
    Starting a family business as a career option: The role of the family household in Mexico2020In: The Journal of Family Business Strategy, ISSN 1877-8585, E-ISSN 1877-8593Article in journal (Refereed)
    Abstract [en]

    This study analyses the determinants of an individual’s intention to start up a new venture that involves family members. Building on the family embeddedness perspective, we hypothesize the existence of an inverted U-shaped relationship between the number of individuals in a family household and the intention to start a family business. Moreover, we argue that this relationship is moderated by the household income and the individual’s education level. With supportive empirical results based on data from the Global Entrepreneurship Monitor (GEM) from Mexico, our work contributes to research on family embeddedness and entrepreneurial career intentions by identifying the importance of household-level factors in the family business start-up decision, and by depicting such decision as a distinctive career option in terms of self-employment.

  • 75.
    Pittino, Daniel
    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).
    Henssen, Bart
    KU Leuven, Center for Sustainable Entrepreneurship (CenSE), Odisee University of Applied Sciences, Belgium.
    Broekaert, Wouter
    KU Leuven, Center for Sustainable Entrepreneurship (CenSE), Odisee University of Applied Sciences, Belgium.
    Does increased generational involvement foster business growth? The moderating roles of family involvement in ownership and management2019In: European Management Review, ISSN 1740-4754, E-ISSN 1740-4762Article in journal (Refereed)
    Abstract [en]

    Building upon the upper echelon perspective, we examine the effect of generationalinvolvement in management on various measures of business growth and consider differentlevels of family participation. Specifically, we argue that generational involvement and theparticipation of family actors in ownership and management foster cognitive diversity at theTMT level, which may ultimately positively or negatively impact family business growth. Ourtheory, which is tested using a longitudinal sample of unlisted Belgian family firms, contributesprimarily to the literature related to the determinants of family firm growth, which, to date, haspaid limited attention to the combined effect of different family involvement factors.

  • 76.
    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 heterogeneity2018In: Journal of Business Research, ISSN 0148-2963, E-ISSN 1873-7978, Vol. 84, p. 312-326Article 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.

  • 77. 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)
  • 78.
    Salvato, Carlo
    et al.
    Bocconi University, Milan, Italy.
    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).
    Melin, Leif
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Seidl, David
    University of Zurich, Switzerland.
    Coupling family business research with organization studies: Interpretations, issues, and insights2019In: Organization Studies, ISSN 0170-8406, E-ISSN 1741-3044, Vol. 40, no 6, p. 775-791Article in journal (Refereed)
    Abstract [en]

    Family-controlled firms are the most widespread form of business organization, but they have so far attracted limited attention from organizational scholars. The present work suggests that coupling research on family business organizations with organization studies will substantially benefit both areas of scholarly research. We explore how the five core defining features of family firms—ownership, management and governance, transgenerational intention, generational involvement, and perceived identity—may be illuminated by extant research in organization studies, and how, in turn, organizational studies may be extended by investigating its key themes in the empirical context of family firms.

  • 79. Salvato, Carlo
    et al.
    Chirico, Francesco
    University of Lugano.
    Sharma, Pramdodita
    Understanding exit from the founder's business in family firms2010In: Entrepreneurship and family business / [ed] Alex Stewart, G.T. Lumpkin, Jerome A. Katz, Bingley: Emerald Group Publishing Limited, 2010, p. 31-85Chapter in book (Refereed)
    Abstract [en]

    In this chapter we investigate the role of family-specific factors in facilitating or constraining business exit in family firms. Family business literature seems to have an implicit bias toward continuity and persistence in the founder's business. This is explained by heavy emotional involvement and development of path-dependent core competences over generations. However, several long-lived family firms were able to successfully exit the founder's business. Exit allowed them to free significant strategic resources, which were later reinvested in exploiting novel entrepreneurial opportunities. Our aim is to investigate the process of exit from the founder's business in family firms, to explain both triggers and obstacles to decommitment and de-escalation. We address this issue through the study of the Italian Falck Group's exit from the steel industry in the 1990s, followed by successful startup of a renewable energy business. By carefully triangulating different data sources and different voices within and outside the controlling family, we develop a framework describing family-specific facilitators and inhibitors of business exit, and subsequent startup of a new business. Three types of family-specific factors emerge as relevant in shaping a family firm's likelihood and speed of exit from a failing business: family-related psychological triggers and obstacles to business exit; family-specific components of the structural de-escalation context; family responses to ensuing de-escalation and exit needs. The emerging framework offers a more nuanced interpretation of decommitment activities in family firms, pointing to the differential role family-specific factors may play as facilitators or inhibitors of business exit. We also suggest how these family-specific results may contribute to a deeper understanding of exit in nonfamily firms. Our results also have practical implications for family business entrepreneurial management. Actively managing the different determinants of exit choices that emerged from our study will set the stage for de-escalation from a failing course of action – a dynamic capability all family firms should learn and practice if they intend to transfer their entrepreneurial orientation to next generations.

  • 80.
    Salvato, Carlo
    et al.
    Department of Management, EntER – Research Center on Entrepreneurship and Entrepreneurs, Bocconi University, Milan, Italy.
    Chirico, Francesco
    Institute of Management, University of Lugano.
    Sharma, Pramodita
    John Molson School of Business, Concordia University, Canada.
    A Farewell to the Business: Championing exit and continuity in entrepreneurial family firms2010In: Entrepreneurship and Regional Development, ISSN 0898-5626, E-ISSN 1464-5114, Vol. 22, no 3/4, p. 321-348Article in journal (Refereed)
    Abstract [en]

    What factors influence exit from the founder's business and subsequent entrepreneurial renewal in a generational family firm? Guided by this research question, we trace the development of the Italian Falck Group from its inception as a steel company in 1906 – ascension as the largest privately owned steel producer in Italy – losses in the 1970s and 1980s leading to business exit from steel industry in the 1990s – followed by successful entry in the renewable energy business. A combination of insights from the literature and triangulation of data from multiple primary and secondary sources leads to the development of a model describing how inhibitors of exit from the founder's business can be transformed into facilitators of change. The critical role of farsighted ‘family champion of continuity’ is found central in redirecting the family from its anchoring in past activities to focus on future entrepreneurial endeavours. While the commitment to the founder's business continues, the family champion aided by business savvy and astute non-family executives ably modifies its meaning of ‘continuity of the founder's business’ from ‘steel production’ to ‘continuity of the entrepreneurial spirit of the family’, hence preserving the institutional identity. Insights from this study can help generational family firms which plan to exit from a failing course of action to regenerate so as to create trans-generational value.

  • 81.
    Sanchez-Famoso, Valeriano
    et al.
    University of the Basque Country, Bilbao, Spain.
    Akhter, Naveed
    Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
    Iturralde, Txomin
    University of the Basque Country, Bilbao, 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).
    Maseda, Amaia
    University of the Basque Country, Bilbao, Spain.
    Is non-family social capital also (or especially) important for family firm performance?2015In: Human Relations, ISSN 0018-7267, E-ISSN 1741-282X, Vol. 68, no 11, p. 1713-1743Article in journal (Refereed)
    Abstract [en]

    This article reports on a study investigating the effects of both family and non-family social capital on firm performance. Specifically, we contend that non-family social capital has a stronger effect on firm performance than family social capital and it also serves as a mediator between family social capital and firm performance. Using a sample of 172 Spanish family firms that includes two respondents per firm, we test a structural model that confirms our hypotheses. Our results extend the understanding of social capital beyond family firms by exploring both family- and non-family-based social relationships in a context in which social factors are predominant.

  • 82.
    Sanchez-Famoso, Valeriano
    et al.
    University of the Basque Country UPV/EHU, Spain.
    Pittino, Daniel
    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).
    Maseda, Amaia
    University of the Basque Country UPV/EHU, Spain.
    Iturralde, Txomin
    University of the Basque Country UPV/EHU, Spain.
    Social capital and innovation in family firms: The moderating roles of family control and generational involvement2019In: Scandinavian Journal of Management, ISSN 0956-5221, E-ISSN 1873-3387, Vol. 35, no 3, article id 101043Article in journal (Refereed)
    Abstract [en]

    Drawing on the social capital literature, we examine whether the co-existence of distinct yetinteracting social groups, namely family and non-family members, creates the conditions forincreased family firm innovation. In particular, we theorize that family and non-family socialcapital have a joint positive effect on family firm innovation and this joint effect is stronger thanthe single effects of family and non-family social capital. In addition, we predict that while familycontrol has a positive moderating effect, generational involvement has a negative moderatingeffect on the above-mentioned relationship. With supportive empirical results, our research makesimportant contributions to the existing literature.

    The full text will be freely available from 2021-04-13 00:00
  • 83. Sciascia, Salvatore
    et al.
    Chirico, Francesco
    Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership. University of Lugano.
    Mazzola, Pietro
    Entrepreneurial orientation and performance in family-owned firms: the role of family management2010In: Frontiers of Entrepreneurship Research: Vol. 30, 2010Conference paper (Refereed)
    Abstract [en]

    Many moderators of the EO-P relationship have been previously identified, but research on management-related factors conducive to EO effectiveness remains insufficient. In particular, no scholar asked whether the effectiveness of EO is facilitated or hampered by a family management (FM). FM can be referred both to the percentage of managers who are family members (PMFM) and to the number of generations involved in management (NGI). In this research we seek to explore how PMFM and NGI influence the EO-P relationship. Drawing on the agency (Jensen and Meckling, 1976; Schulze et al., 2001) and the upper echelon theories (Hambrick & Mason, 1984), we theorize and empirically test that the more a family is involved in the management of the firm, the lower EO effectiveness. In other words, we test that both PMFM and NGI play the role of negative moderators of the EO-P relationship.

  • 84.
    Sciascia, Salvatore
    et al.
    IULM University, Italy.
    Mazzola, Pietro
    IULM University, Italy.
    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).
    Generational involvement in the top management team of family firms: Exploring nonlinear effects on entrepreneurial orientation2013In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 37, no 1, p. 69-85Article in journal (Refereed)
    Abstract [en]

    The present study contends that an inverted U-shaped relationship exists between generational involvement –i.e. the number of family generations simultaneously involved in the family firm top management team (TMT) – and corporate entrepreneurship (CE). Drawing on the upper echelons theory, we conceive generational involvement as a proxy of knowledge diversity in multigenerational family TMTs. We argue that while moderate levels of generational involvement stimulate task-related constructive conflicts for CE, increased kinship distance and relationship conflicts led by high levels of generational involvement are likely to undermine this potential advantage by damaging the relational context for CE.

  • 85.
    Sieger, Philipp
    et al.
    University of Bern, Switzerland.
    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).
    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.
    The King is Dead, Long Live...Who? Sudden Deaths of Owner-Managers and Successor Characteristics' Performance Implication2017Conference paper (Refereed)
    Abstract [en]

    When the owner-manager of a business suddenly dies, who should take over? We address this fundamental but unanswered question by investigating how specific CEO successor characteristics and factors related to their relationships with the firm and the deceased ownermanager affect a firm’s performance distress after the incumbent ownermanager’s sudden death. Drawing on the resource-based view and information asymmetry literature and using a longitudinal sample from Sweden with over 1’500 sudden death events in the period 2000-2007, we reveal multiple interesting findings which offer important implications for theory and practice.

  • 86.
    Symeonidou, Noni E.
    et al.
    Warwick Business School, UK.
    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).
    DeTienne, Dawn R.
    Colorado State University, USA.
    The Perseverance of Family Firms: Performance Threshold and Firm Survival2015In: Academy of Management Proceedings, January 2015 (Meeting Abstract Supplement) 14997, 2015 / [ed] John Humphreys, Academy of Management , 2015Conference paper (Refereed)
    Abstract [en]

    Research on family firm survival has been mixed as studies provide evidence both for a positive and negative effect of family ownership on firm survival. Drawing upon threshold theory and socioemotional wealth we develop hypotheses which link family owners’ socio-emotional wealth and performance threshold to entrepreneurial exit. Using the longitudinal Kauffman Firm Survey we find that family firms are less likely to exit compared to non-family firms and that this relationship is mediated by owners’ threshold of performance.

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