Top management teams and performance in non-listed family firms

2013 ◽  
Vol 19 (4) ◽  
pp. 405-423 ◽  
Author(s):  
M Katiuska Cabrera-Suárez ◽  
Josefa D Martín-Santana
Keyword(s):  
Social Capital ◽  
Significant Influence ◽  
Family Firms ◽  
Top Management Teams ◽  
Management Teams ◽  
Top Management ◽  
Top Executives ◽  
Theoretical Approaches ◽  
The Family ◽  
And Performance

AbstractSupporting on recent theoretical approaches to the concept of familiness based on the notion of social capital, this study analyzes the composition of top management teams in non-listed family firms and its effect on the performance of these firms. An empirical analysis comprising 929 Spanish private family firms highlights the positive and significant influence of the inclusion of non-family managers, the family nature of top executives, as well as the presence of the founder. The study includes no significant results regarding homogeneity within family managers, or the interaction between a top family executive and the proportion of non-family managers.

Family Social Capital, Trust within the TMT, and the Establishment of Corporate Goals Related to Nonfamily Stakeholders

2014 ◽  
Vol 28 (2) ◽  
pp. 145-162 ◽  
Author(s):  
M. Katiuska Cabrera-Suárez ◽  
M. Cruz Déniz-Déniz ◽  
Josefa D. Martín-Santana
Keyword(s):  
Social Capital ◽  
Family Firms ◽  
Family Members ◽  
Top Management Teams ◽  
Management Teams ◽  
Top Management ◽  
Indirect Influence ◽  
Family Social Capital ◽  
Spanish Family ◽  
Corporate Goals

Based on a social capital approach, we analyze how structural and cognitive family social capital (FSC) influences the establishment of corporate goals related to nonfamily stakeholders (EGNFS) in family firms. Data were obtained from 374 family and nonfamily members of top management teams (TMTs) in 173 Spanish family firms. Results show that structural FSC directly influences the establishment of corporate goals related to nonfamily stakeholders. Also there is an indirect influence through the effect FSC has on the relational social capital (trust) in the TMT. When data are split based on familial and nonfamilial TMTs (depending on the percentage of family members), results show important differences between the two groups.

The impact of the top management teams’ knowledge and experience on strategic decisions and performance

2016 ◽  
Vol 23 (4) ◽  
pp. 504-523 ◽  
Author(s):  
Peng-Yu Li
Keyword(s):  
Positive Association ◽  
International Experience ◽  
Top Management Teams ◽  
Management Teams ◽  
Top Management ◽  
Strategic Decisions ◽  
Foreign Countries ◽  
And Performance ◽  
The Impact ◽  
The Relationship

AbstractThis paper explores whether top management teams’ (TMTs) knowledge and experience are significant predictors of a firm’s strategic decisions and organization outcomes. The existing research throws little light on how firms with limited resources embedded in TMTs, particularly in emerging markets, innovate and achieve success in foreign countries. We focus on the impact of TMTs’ functional background heterogeneity and international experience on innovation and internationalization, as well as examine the relationship between innovation, internationalization and performance. The proposed relationships are empirically investigated in a sample of Taiwanese-listed companies operating in the electronics industry. The results demonstrate a positive association between a TMT’s functional background heterogeneity and a firm’s innovation. Moreover, a TMT’s international experience relates positively to a firm’s innovation and internationalization, therefore firms with a higher level of innovation achieve a higher level of internationalization.

Top Management Teams’ Academic Experience and Firms’ Corporate Social Responsibility Voluntary Disclosure

2020 ◽  
Vol 16 (2) ◽  
pp. 293-333
Author(s):  
Zhiming Ma ◽  
Hong Zhang ◽  
Weiguo Zhong ◽  
Kaitang Zhou
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Voluntary Disclosure ◽  
Top Management Teams ◽  
Management Teams ◽  
Top Management ◽  
Academic Background ◽  
Top Executives ◽  
Csr Disclosure ◽  
Corporate Social

ABSTRACTCorporate social responsibility (CSR) disclosure is becoming increasingly important for modern corporations. Focusing on voluntary CSR disclosure and drawing on upper echelons theory, we propose that voluntary CSR disclosure is the manifestation of managerial preferences (e.g., managers’ professional ethical values and standards). Specifically, we argue that top executives with an academic background tend to have higher professional and ethical standards than their non-academic counterparts. These standards lead them to act with self-restraint and to perceive CSR disclosure as an opportunity rather than a threat. Compared with non-academic executives, therefore, top executives with an academic background provide stakeholders with more CSR information. Based on a sample of publicly listed firms in China, we find a significant difference in voluntary CSR disclosure between firms led by academic executives and firms without academic top executives. This difference is smaller for firms that are state-owned, firms that are audited by large audit firms, and firms with greater analyst coverage. We contribute to the literature on CSR voluntary disclosure by providing an in-depth analysis of the effects of top management teams’ academic backgrounds.

Familiness in Top Management Teams: Commentary on Ensley and Pearson's “An Exploratory Comparison of the Behavioral Dynamics of Top Management Teams in Family and Nonfamily New Ventures: Cohesion, Conflict, Potency, and Consensus”

2005 ◽  
Vol 29 (3) ◽  
pp. 285-291 ◽  
Author(s):  
Mattias Nordqvist
Keyword(s):  
Family Business ◽  
Family Firms ◽  
New Ventures ◽  
Top Management Teams ◽  
Management Teams ◽  
Top Management ◽  
Behavioral Dynamics ◽  
Definition Of

This commentary elaborates further upon the proposition that “familiness” can serve as a unique advantage in family firms, contributing to more effective behavioral processes in top management teams of family firms. This is done by offering three routes for extension based on the perspective on top management teams, the concept of “familiness,” and the definition of family business adopted in the article.

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