Block Long-term Orientation of Family Firms

An Investigation of R&D Investments, Downsizing Practices, and Executive Pay
2010
ISBN: 978-3-8349-8412-8
Verlag: Betriebswirtschaftlicher Verlag Gabler
Format: PDF
Kopierschutz: 1 - PDF Watermark

E-Book, Englisch, 250 Seiten, eBook

Reihe: Innovation und Entrepreneurship

Family firms are commonly assumed to be more long-term oriented than comparable non-family firms. Joern Block analyzes this phenomenon in more detail and investigates whether and under which conditions family firms pursue more long-term oriented strategies than other firms.

Dr. Joern Block is a researcher at the Schöller Chair in Technology and Innovation Management at Technische Universität München. His research focuses on innovation, entrepreneurship, and family firms.

Zielgruppe

Research

Autoren/Hrsg.

Block, Jörn

Weitere Mitwirkende

Henkel, Prof. Dr. Joachim

Inhaltsverzeichnis

1;Foreword;6
2;Preface;7
3;Table of contents;9
4;List of figures;13
5;List of tables;14
6;List of abbreviations;16
7;Zusammenfassung;19
8;1 Introduction;21
8.1;1.1 Motivation;21
8.2;1.2 Research goals;26
8.3;1.3 Structure of the dissertation;26
9;2 Family firms;29
9.1;2.1 Definition of a family firm;29
9.2;2.2 Family influence;39
9.3;2.3 Theories about family firms;41
10;3 Long-term orientation of firms;62
10.1;3.1 Key terms;62
10.2;3.2 Dimensions of long-term orientation;64
10.3;3.3 Long-term orientation in family firms: a discussion;66
10.4;3.4 Research questions;74
11;4 Data and method;78
11.1;4.1 Construction of the dataset;78
11.2;4.2 Descriptive analysis of the dataset;80
11.3;4.3 Method: Bayesian analysis;88
12;5 Performance of family firms;96
12.1;5.1 Literature review;96
12.2;5.2 Family firms versus non-family firms;97
12.3;5.3 Impact of family management and family ownership;109
12.4;5.4 Summary and conclusions;112
13;6 Family firms and R&D spending;114
13.1;6.1 Introduction;114
13.2;6.2 Theory and hypotheses;118
13.3;6.3 Data;123
13.4;6.4 Results;127
13.5;6.5 Discussion;146
13.6;6.6 Summary and conclusions;151
14;7 Family firms and employment downsizing;153
14.1;7.1 Introduction;153
14.2;7.2 Family firms and their employees: a literature review;155
14.3;7.3 Theory and hypotheses;156
14.4;7.4 Data;159
14.5;7.5 Results;160
14.6;7.6 Discussion;170
14.7;7.7 Summary and conclusions;172
15;8 Family firms and executive pay;174
15.1;8.1 Introduction;174
15.2;8.2 Related literature;176
15.3;8.3 Data;177
15.4;8.4 Results;179
15.5;8.5 Discussion;192
15.6;8.6 Summary and conclusions;194
16;9 Executive pay in family firms: a principal-agent model;196
16.1;9.1 Introduction;196
16.2;9.2 Literature review;198
16.3;9.3 The model;201
16.4;9.4 Analysis;206
16.5;9.5 Discussion;213
16.6;9.6 Summary and conclusions;216
17;10 Summary, implications, and outlook;217
17.1;10.1 Summary;217
17.2;10.2 Limitations;220
17.3;10.3 Implications;220
17.4;10.4 Directions for further research;226
18;Bibliography;228
19;Appendix;255
19.1;List of firms in the dataset;255
19.2;List of variables;261
19.3;MatlabTM code for Bayesian random-effects model;265
19.4;Correlation table;268

Family firms.- Long-term orientation of firms.- Data and method.- Performance of family firms.- Family firms and R&D spending.- Family firms and employment downsizing.- Family firms and executive pay.- Executive pay in family firms: a principal-agent model.- Summary, implications, and outlook.

Über Autor(innen)

Dr. Joern Block is a researcher at the Schöller Chair in Technology and Innovation Management at Technische Universität München. His research focuses on innovation, entrepreneurship, and family firms.