Stephan Stubner

Organizational Ambidexterity and Family Firm Performance

Abstract In our paper, we introduce the concept of organizational ambidexterity (OA) to family firm research and develop hypotheses regarding the impact family influence has on OA and on subsequent firm performance. We argue that as family influence increases family firms achieve higher degrees of OA and firm performance. We empirically test our hypotheses on a dataset of 104 family firms and show that family influence leads to higher degrees of ambidexterity especially through family power and cultural alignment between family and firm interests. Furthermore, we show that higher levels of OA in family firms also result in better financial performance. We contribute to family firm research by introducing organizational ambidexterity into the discussion about family firm performance and family firm heterogeneity, and thus provide an approach for integrating strategy and family firm research.

Understanding the performance consequences of family involvement in the top management team: The role of long-term orientation

This article examines the relationship between long-term orientation, family involvement in the top management team (TMT), and family firm performance. On the basis of agency and stewardship theory, we propose that the inclusion of family members in the TMT only enhances firm performance if it induces a long-term orientation among management. An empirical analysis involving 201 privately owned family firms from Germany supports our theory that a long-term orientation helps align family and organizational goals. As such, it represents an important mediator that links family involvement in the TMT to performance.

Strategische Planung und strategisches Controlling mit Szenarien

Stichwörter Strategisches Controlling Szenarien Szenario-basierte strategische Planung Szenarioplanung Volatilität Der Beitrag stellt mit der szenario-basierten strategischen Planung einen Ansatz vor, der es Unternehmen erlaubt, Strategien für volatile Umfelder zu entwickeln. In Erweiterung zur traditionellen Szenarioplanung ermöglicht der Ansatz zudem eine klare Operationalisierung der Einflussfaktoren und stellt mit dem Szenario Cockpit ein Instrument zum strategischen Controlling zur Verfügung.

Management Support and the Performance of Entrepreneurial Start-ups

We analyze the relationship between management support offered by venture capital firms and the performance of entrepreneurial start-ups. based on the reasoning of the resource-based view, we use a sample of 106 german start-up companies to derive and empirically test several hypotheses. our results show that the quality of management support offered by venture capital firms has an impact on start-up performance. However, we cannot find clear moderating effects of founder team and company-specific variables. We discuss and interpret these results and their implications for practice.

Position-specific knowledge, new CEO learning and firm performance

Building on organisational learning theory and CEO-strategy fit research, we introduce the concept of position-specific knowledge of a new CEO and explore its impact on the learning process that new CEOs go through after taking office and on firm performance during their early tenure. We empirically test this concept using a sample of 59 CEO succession events that occurred between 1987 and 2002 in 48 of the largest publicly listed companies in Germany. Results show that position-specific knowledge of new CEOs indeed has an influence on firm performance during the early tenure of a CEO. Thus, we conclude that organisational learning theory and position-specific knowledge of new CEOs offer a promising lens for executive succession research and that they deserve further attention.

Cross-Border Operations and Enlargement of European Union as Driving Forces for Pan-European Expansion Strategies

The Handbook on Legal Forms in Europe starts, in this chapter, with an introduction into the strategic need of looking at the subject. The authors Torsten Wulf and Stephan Stubner begin with an outline on the importance for each founder and founding company to critically evaluate the question about which legal form to use. As the evaluation of this question becomes especially complex when looking at foreign markets, they then first take a look at the reasons for setting up businesses abroad. They show the underlying strategic drivers for pan-European expansion strategies and discuss the possible benefits for companies. The authors complement this internal perspective with an overview on external factors that foster cross-border operations and conclude with the discussion of several case examples and an outlook.