Portfolio Entrepreneurship in Family Firms: A Resource-based Perspective

The phenomenon of portfolio entrepreneurship has attracted considerable scholarly attention and is particularly relevant in the family fi rm context. However, there is a lack of knowledge of the process through which portfolio entrepreneurship develops in family firms. We address this gap by analyzing four in-depth, longitudinal family firm case studies from Europe and Latin America. Using a resource-based perspective, we identify six distinct resource categories that are relevant to the portfolio entrepreneurship process. Furthermore, we reveal that their importance varies across time. Our resulting resource-based process model of portfolio entrepreneurship in family firms makes valuable contributions to both theory and practice.

The Effectiveness of Firms' Strategic Orientations: Investigating Multiple Theoretical Perspectives

The strategic orientation of firms can take on many forms. Researchers most commonly distinguish between entrepreneurial, market, and learning orientations. In combination, strategic orientations represent a firm's value proposition in terms of the markets in which it operates, where it deploys its resources, and which behavioral patterns are established. This thesis provides insights into the effectiveness of strategic orientations by adopting multiple theoretical perspectives. The strategic orientations of entrepreneurial, market, learning, and innovation orientations are investigated in an isolated as well as interrelated manner. The first research article concentrates on entrepreneurial orientation as its conceptualization and operationalization is subject to several debates in the literature. This conceptual study shows how the challenges of the entrepreneurial orientation construct can be overcome in future research to arrive at a higher level of construct clarity. Thereby, the theoretical perspectives of entrepreneurial dominant logic and the theory of planned behavior are employed. The literature has predominantly focused on investigating the effectiveness of particular strategic orientations. Recently, scholars have stressed their synergetic impact on firm performance and, as such, the relevance of considering their combined role in creating superior value for firms. However, empirical research on their interrelatedness remains scant and dispersed, making it necessary to conduct further research on strategic orientations in an integrative manner. As such, the second research article demonstrates which interrelated roles are played by entrepreneurial, market, and learning orientations in their relationship to firm performance. The rich body of existing knowledge is synthesized by means of meta-analysis under the perspective of strategic coalignment as well as the resource-based view of the firm.

What makes next generation members found their own firm: knowledge, contacts, or money?

To increase our understanding of the formation of students' intentions to found an own firm, research needs to systematically integrate theory of planned behavior, resource-based view, and family business literature. To date, however, an explicit and systematic integration of these perspectives cannot be found. We attempt to close this gap by explicitly investigating founding intentions of students with family business background. More specifically, we examine how the provision of human, social, and financial resources by the family affects students' desirability and feasibility perceptions, and ultimately founding intentions. Our analysis based on a sample of 14'290 students from 26 countries reveals that both desirability and feasibility perceptions mediate the relationships between all three types of resources and founding intentions. Interestingly, the provision of financial resources is negatively related to both desirability and feasibility perceptions. These findings illustrate the research potential of a combination of theory of planned behavior with the resource-based view, especially in the family business context. Our study thus offers valuable contributions to literature on career choices, theory of planned behavior, and family business, as well as to practice.