Giovanna Campopiano

The Impact of Family Involvement on SMEs’ Performance: Theory and Evidence

By complementing agency theory with behavioral assumptions, we explore the effects of family involvement on small and medium enterprises’ (s) performance. We identify three separate dimensions of family involvement and hypothesize nonlinear, direct, and interaction effects on the performance of an . The evidence on 787 suggests that an inverted ‐shaped relationship exists between family ownership and performance, and ownership dispersion among family members negatively affects performance. Balancing family and nonfamily members in the top management team () is found to be beneficial to s’ performance, but the family ratio in the becomes crucial only at high levels of family ownership.

Firm philanthropy in small and medium-sized family firms : the effects of family involvement in ownership and management

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.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.

Students climbing the entrepreneurial ladder: Family social capital and environment-related motives in hospitality and tourism

Purpose This paper aims to address the research question of whether family social capital affects the degree of engagement in the entrepreneurial process in the case of hospitality and tourism (H&T) new ventures, and how this relates to environment-related motivations. In particular, drawing on a process-based approach of individuals’ engagement in entrepreneurship, this paper provides new insights into the relationship between the perception of support by the family through the provision of bonding and bridging social capital and the decision to engage in the entrepreneurial process. The main contribution consists in the role of “following an environmental mission” that emerges as a motivation mediating the relationship between family resource provision and entrepreneurial engagement in the H&T industry. Design/methodology/approach For this exploratory study, we rely on cross-sectional observations from 2,923 individuals gathered through the Global University Entrepreneurial Spirit Students Survey, which collects information on career choices and preferences of university students around the globe. Given our focus on the early engagement process in entrepreneurship and the role of embeddedness in family structures, the use of a sample of young potential entrepreneurs such as students is particularly appropriate. Findings This study suggests that the family acts as a fundamental institution fostering entrepreneurship, both through the provision of bonding and bridging social capital, and the nurturing of attitudes toward the environment. The results indicate that, in the H&T industry, entrepreneurship can be a valuable means to pursue such attitude and is perceived as a way to proactively contribute to undertake responsible environmental activities. Research limitations/implications The study provides some implications for researchers, educators and policymakers interested in fostering entrepreneurial initiatives in the field, considering the role of a social-oriented mission as a vehicle to encourage profit-oriented entrepreneurial initiatives, and the importance of the family as a resource provider that fosters entrepreneurial engagement. The paper also discusses the strengths and limitations of this unique and broad cross-national sample. Originality/value Becoming entrepreneurs is depicted as climbing an entrepreneurial “ladder”, whereby each individual’s engagement along this process depends on a number of antecedents. Family bridging and bonding social capital, as well as following an environmental mission, emerge as important factors in the H&T industry, thus extending previous literature on the distinctiveness of this industry.

All in the Family? An Exploratory Study of Family Member Advisors and Firm Performance

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.

Principal-principal conflicts and family firm growth: The moderating role of business family identity

Purpose Drawing on the principal-principal conflict and identity literatures, the purpose of this paper is to investigate the Agency Problem Type II-bis in the context of family business. Specifically, the authors hypothesize that the size of the family owner group is related to firm growth and that this relationship is moderated by the extent to which the family identifies with the firm. Design/methodology/approach The hypotheses are tested on a sample of 265 medium and large German family firms (FFs) via moderated hierarchical regression analysis. Findings The main findings suggest that business family identity moderates the inverted U-shaped relationship between the size of the family owner group and firm growth in such a way that FFs with medium-sized family owner groups and high levels of business family identity reach higher firm growth. Practical implications In the context of FFs fully owned by one family, family owners might have different strategic preferences, goals, and identities, thus potentially making them subject to the conflict that could arise among the different family owners in relation to growth expectations. Recognizing this problem could help family owners find potential solutions to ensure the well-being of both the family and the business. Originality/value The combination of family ownership structure and family ownership dynamics affects firm growth. Challenging the homogeneity of the family owner group, the authors highlight the role of Agency Problem Type II-bis in hindering growth of FFs. A finer-grained view of principal-principal conflicts in FFs is thus discussed.

Turning innovativeness into domestic and international corporate venturing: the moderating effect of high family ownership and influence

Stemming from socioemotional wealth preservation arguments, the aim of this paper is to analyse whether high family ownership and influence moderate the relationship between innovativeness and modes of corporate venturing activities (national vs. international venturing). The main hypotheses are tested on a sample of 235 firms using structural equation modelling techniques in the form of partial least squares regression. Our main findings suggest that there is a significant positive relationship between innovativeness and corporate venturing activities, both in family and non-family firms. This relationship is much stronger for national than international corporate venturing. Moreover, high family ownership and influence negatively affect only the innovativeness-national venturing relationship, while this negative effect is less manifest for the case of international venturing.

Struttura competitiva dopo la crisi Alitalia: il caso dela tratta Milano-Roma

Air travel routes and high speed rail connection between Milan and Rome after the Alitalia crisis This paper analyses the first available data about changes in passenger traffic and air/rail fares after the Alitalia crisis and the substantial reduction of the travel time between Milan and Rome, due to the improvement of high speed rail on this connection. As recently happened in similar cases within Europe, the rail has gained a significant share of traffic previously attracted by air transport services. Apart from that, a real price competition is prevented by a number of inefficiencies which are mainly due to the monopolistic position of the new Alitalia on the route Milan Linate-Rome Fiumicino and problems of accessibility affecting our airports, and partly our rail stations too. The role of the various authorities potentially involved is burdened, in the last instance, by infrastructural deficiencies.

Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience

Building on extant research on family firm resilience, we propose a framework to discuss the impact of family-centered non-economic goals on a firm’s ability to absorb and react to environmental jolts. This chapter aims to advance current knowledge on the goal-related antecedents of innovation strategies in family firms by theorizing on how family firms approach slack resource deployment and choose between investments in closed vs. open innovation as a response to environmental jolts. Building on prospect theory assumptions about risk-taking behavior, we make a contribution to understanding heterogeneity of resilient family firms, which are spurred to innovate in light of the degree of relevance of pursued family-centered non-economic goals.

Family Involvement and Corporate Social Responsibility in Small- and Medium-Sized Family Firms

Abstract This study investigates how family involvement affects engagement of private small- and medium-sized family firms in corporate social responsibility. We draw on reputation and self-interest arguments to hypothesize and test the effects of degree of family ownership, intra-family ownership dispersion, and family generation in control on firm engagement in corporate social responsibility. Using survey data collected from a sample of 136 Italian small- and medium-sized family firms, we find support for our hypotheses and underlying contention that family involvement matters, as CSR engagement decreases if a higher percentage of shares is owned by the family, ownership is dispersed among a higher number of family members, as well as later-generations control the business. We conclude by discussing the study’s implications for theory and practice, limitations, and future research directions.

Corporate Social Responsibility in Family Versus Non-Family Enterprises: An Exploratory Study

This chapter studies the relationship between corporate social responsibility (CSR) motivations and CSR actions in 25 selected teaching cases, especially in the light of the distinction between family and non-family enterprises. A literature-based research framework is developed to classify the research findings and support a direct and easier identification of the resulting patterns emerging from our study. A cross-case analysis allows us to point out not only the evidence of the behavioural practices adopted by firms, but also of the causal link between the CSR motivations and actions, identifying four main emerging patterns in the behaviour of firms investing in CSR.