Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | BAR - Brazilian Administration Review |
Texto Completo: | http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922020000200301 |
Resumo: | Abstract Prior literature has provided inconclusive evidence on the effects of family involvement in management (FIM) on family business (FB) performance. However, so far in the literature, there have been very few attempts to investigate FIM and family essence simultaneously as antecedents of FB performance. Therefore, we address this gap by studying how a stewardship-oriented culture (being a feature of FB essence) moderates the relationship between FIM and FB performance. We test our hypotheses with the Structural Equation Modeling technique using survey data in combination with archival data on a sample of 69 medium and large private Brazilian FBs. We find that a stewardship-oriented culture makes the relationship between a family CEO and FB performance weaker and observe that a stewardship has no moderating effect on the relationship between FIM and FB performance. These findings contradict prior literature on the beneficial role of stewardship in family-managed FB. Only in case of a nonfamily CEO, a stewardship-oriented culture positively moderates the relationship with FB performance. In addition, our study reveals a U-shaped nonlinear relationship between the level of FIM and FB performance, which is consistent with recent literature on the existence of faultlines derived from heterogeneous TMT and the impact on firm outcome. |
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Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economystewardship theoryperformancefamily firmfamily involvement in managementfamily CEOAbstract Prior literature has provided inconclusive evidence on the effects of family involvement in management (FIM) on family business (FB) performance. However, so far in the literature, there have been very few attempts to investigate FIM and family essence simultaneously as antecedents of FB performance. Therefore, we address this gap by studying how a stewardship-oriented culture (being a feature of FB essence) moderates the relationship between FIM and FB performance. We test our hypotheses with the Structural Equation Modeling technique using survey data in combination with archival data on a sample of 69 medium and large private Brazilian FBs. We find that a stewardship-oriented culture makes the relationship between a family CEO and FB performance weaker and observe that a stewardship has no moderating effect on the relationship between FIM and FB performance. These findings contradict prior literature on the beneficial role of stewardship in family-managed FB. Only in case of a nonfamily CEO, a stewardship-oriented culture positively moderates the relationship with FB performance. In addition, our study reveals a U-shaped nonlinear relationship between the level of FIM and FB performance, which is consistent with recent literature on the existence of faultlines derived from heterogeneous TMT and the impact on firm outcome.ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração2020-01-01info:eu-repo/semantics/articleinfo:eu-repo/semantics/publishedVersiontext/htmlhttp://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922020000200301BAR - Brazilian Administration Review v.17 n.2 2020reponame:BAR - Brazilian Administration Reviewinstname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)instacron:ANPAD10.1590/1807-7692bar2020180139info:eu-repo/semantics/openAccessMucci,Daniel MagalhãesFrezatti,FábioJorissen,AnnBido,Diógenes de Souzaeng2020-05-27T00:00:00Zoai:scielo:S1807-76922020000200301Revistahttp://www.scielo.br/scielo.php?script=sci_serial&pid=1807-7692&lng=pt&nrm=isohttps://old.scielo.br/oai/scielo-oai.php||bar@anpad.org.br1807-76921807-7692opendoar:2020-05-27T00:00BAR - Brazilian Administration Review - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD)false |
dc.title.none.fl_str_mv |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
title |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
spellingShingle |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy Mucci,Daniel Magalhães stewardship theory performance family firm family involvement in management family CEO |
title_short |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
title_full |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
title_fullStr |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
title_full_unstemmed |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
title_sort |
Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
author |
Mucci,Daniel Magalhães |
author_facet |
Mucci,Daniel Magalhães Frezatti,Fábio Jorissen,Ann Bido,Diógenes de Souza |
author_role |
author |
author2 |
Frezatti,Fábio Jorissen,Ann Bido,Diógenes de Souza |
author2_role |
author author author |
dc.contributor.author.fl_str_mv |
Mucci,Daniel Magalhães Frezatti,Fábio Jorissen,Ann Bido,Diógenes de Souza |
dc.subject.por.fl_str_mv |
stewardship theory performance family firm family involvement in management family CEO |
topic |
stewardship theory performance family firm family involvement in management family CEO |
description |
Abstract Prior literature has provided inconclusive evidence on the effects of family involvement in management (FIM) on family business (FB) performance. However, so far in the literature, there have been very few attempts to investigate FIM and family essence simultaneously as antecedents of FB performance. Therefore, we address this gap by studying how a stewardship-oriented culture (being a feature of FB essence) moderates the relationship between FIM and FB performance. We test our hypotheses with the Structural Equation Modeling technique using survey data in combination with archival data on a sample of 69 medium and large private Brazilian FBs. We find that a stewardship-oriented culture makes the relationship between a family CEO and FB performance weaker and observe that a stewardship has no moderating effect on the relationship between FIM and FB performance. These findings contradict prior literature on the beneficial role of stewardship in family-managed FB. Only in case of a nonfamily CEO, a stewardship-oriented culture positively moderates the relationship with FB performance. In addition, our study reveals a U-shaped nonlinear relationship between the level of FIM and FB performance, which is consistent with recent literature on the existence of faultlines derived from heterogeneous TMT and the impact on firm outcome. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-01-01 |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922020000200301 |
url |
http://old.scielo.br/scielo.php?script=sci_arttext&pid=S1807-76922020000200301 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.relation.none.fl_str_mv |
10.1590/1807-7692bar2020180139 |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
text/html |
dc.publisher.none.fl_str_mv |
ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração |
publisher.none.fl_str_mv |
ANPAD - Associação Nacional de Pós-Graduação e Pesquisa em Administração |
dc.source.none.fl_str_mv |
BAR - Brazilian Administration Review v.17 n.2 2020 reponame:BAR - Brazilian Administration Review instname:Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) instacron:ANPAD |
instname_str |
Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
instacron_str |
ANPAD |
institution |
ANPAD |
reponame_str |
BAR - Brazilian Administration Review |
collection |
BAR - Brazilian Administration Review |
repository.name.fl_str_mv |
BAR - Brazilian Administration Review - Associação Nacional de Pós-Graduação e Pesquisa em Administração (ANPAD) |
repository.mail.fl_str_mv |
||bar@anpad.org.br |
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1754209124193665024 |