Long-term Success of Family Firms: Investigating Specific Aspects of Firm-level Entrepreneurship and Individual-level Antecedents

Long-term success of family firms is of utmost social and economic importance. Three of its determinants are in the center of this Dissertation: firmlevel entrepreneurial orientation (EO), managers' entrepreneurial behavior, and value-creating attitudes of non-family employees. Each determinant and respective research gaps are addressed by one paper of this cumulative dissertation. Referring to firm-level EO, scholars claim that EO is a main antecedent to firms' both short- and long-term success. However, family firms seem to be successful across generations despite rather low levels of EO. The first paper addresses this paradox by investigating EO patterns of long-lived family firms in three Swiss case studies. The main finding is that the key to success is not to be as entrepreneurially as possible all the time, but to continuously adapt the EO profile depending on internal and external factors. Moreover, the paper suggest new subcategories to different EO dimensions. With regard to entrepreneurial behavior of managers, there is a lack of knowledge how individual-level and organizational level factors affect its evolvement. The second paper addresses this gap by investigating a sample of 403 middle-level managers from both family and non-family firms. It introduces psychological ownership of managers as individual-level antecedent and investigates the interaction with organizational factors. As a central insight, management support is found to strengthen the psychological ownership-entrepreneurial behavior relationship. The third paper is based on the fact that employees' justice perceptions are established antecedents of value-creating employee attitudes such as affective commitment and job satisfaction. Even though family firms are susceptible to nonfamily employees´ perceptions of injustice, corresponding research is scarce. Moreover, the mechanism connecting justice perceptions and positive outcomes is still unclear. Addressing these gaps, the analysis of a sample of 310 non-family employees reveals that psychological ownership is a mediator in the relationships between distributive justice perceptions and both affective commitment and job satisfaction. Altogether, the three papers offer valuable contributions to family business literature with respect to EO, entrepreneurial behavior, and value-creating employee attitudes. Thus, they increase current understanding about important determinants of family firms' long-term success, while opening up numerous ways of future research.

Ammonium uptake, transport and nitrogen economy in forest trees

AMMONIUM UPTAKE, TRANSPORT AND NITROGEN ECONOMY IN FOREST TREES Francisco M. Cánovas, Concepción Avila, Fernando N. de la Torre, Rafael A. Cañas, Belén Pascual, Vanessa Castro- Rodríguez, Jorge El-Azaz Departamento de Biología Molecular y Bioquímica, Facultad de Ciencias, Universidad de Málaga, Spain. Email: canovas@uma.es Forests ecosystems play a fundamental role in the regulation of global carbon fixation and preservation of biodiversity. Forest trees are also of great economic value because they provide a wide range of products of commercial interest, including wood, pulp, biomass and important secondary metabolites. The productivity of most forest ecosystems is limited by low nitrogen availability and woody perennials have developed adaptation mechanisms, such as ectomycorrhizal associations, to increase the efficiency of N acquisition and metabolic assimilation. The efficient acquisition, assimilation and economy of nitrogen are of special importance in trees that must cope with seasonal periods of growth and dormancy over many years. In fact, the ability to accumulate nitrogen reserves and to recycle N is crucial to determine the growth and production of forest biomass. Ammonium is the predominant form of inorganic nitrogen in the soil of temperate forests and many research efforts are addressed to study the regulation of ammonium acquisition, assimilation and internal recycling for the biosynthesis of amino acids, particularly those relevant for nitrogen storage. In our laboratory, we are interested in studying nitrogen metabolism and its regulation in maritime pine (Pinus pinaster L. Aiton), a conifer species of great ecological and economic importance in Europe and for which whole-transcriptome resources are available. The metabolism of phenylalanine plays a central role in the channeling of carbon from photosynthesis to the biosynthesis of phenylpropanoids and the regulation of this pathway is of broad significance for nitrogen economy of maritime pine. We are currently exploring the molecular properties and regulation of genes involved in the biosynthesis and metabolic fates of phenylalanine in maritime pine. An overview of this research programme will be presented and discussed. Research supported by Spanish Ministry of Economy and Competitiveness and Junta de Andalucía (Grants BIO2015-69285-R, BIO2012-0474 and research group BIO-114).

Theory, Culture and Society Vol. 23 (2-3) Edited by Mike Featherstone

Review of May 2006 issue of journal Theory, Culture, and Society.

Measuring persistence in nominal exchange rate: Implications for Angola’s entrepreneurship and business development

The purpose of this paper is to measure the degree of persistence in the Kwanza to US Dollar exchange rate. First, our results indicate that nominal exchange rates both in levels and in first differences are I(0), thus implying that the relative purchasing power parity hypothesis for Angola is not rejected. Secondly, we find a significant degree of persistence in both the formal and informal nominal exchange rates. Thirdly, the degree of persistence in the official market is significantly lower than in the formal market, while In first differences, persistence in the official exchange rate is substantially higher than in the informal exchange rate. Lastly, we could not find strong evidence that persistence has changed in levels throughout the sample period. By contrast, there is significant evidence that persistence in first differences has consistently increased after September 2003. These results have important policy implications as the National Bank of Angola is preparing to change its monetary and exchange-rate policy focus to a more inflation-targeting regime and to a more a flexible (or low-managed) exchange-rate regime.

Macroentrepreneurship : an expanded contact for entrepreneurship

The purpose if this paper is to show how entrepreneurial practices can be applied at macro level by industry and government bodies, particularly to identify opportunity areas in target industries and thereby promote new business ventures that best serve the economy and society. A new macro context is argued for entrepreneurial activity based on marketing and entrepreneurship principles, and their specialization areas or social and societal marketing, macromarketing and social entrepreneurship. An example of government and industry involvement in industry opportunity identification is outlines to demonstrate macro level entrepreneurial activity, showing how, in the same way that macromarketing seeks to address the bigger issues and the links between marketing systems and society, so too can entrepreneurship use this perspective to achieve its aims and contribute more effectively to the betterment of society. This paper makes and original contribution by demonstrating a new, expanded context for entrepreneurship's scholarly domain and its practice, showing how its key concepts can be effectively applied at industry level to provide a catalyst for development.

Space : Irrealis objects and their role in a new political economy

In this paper, I show how new spaces are being prefigured for colonisation in the language of contemporary technology policy. Drawing on a corpus of 1.3 million words collected from technology policy centres throughout the world, I show the role of policy language in creating the foundations of an emergent form of political economy. The analysis is informed by principles from critical discourse analysis (CDA) and classical political economy. It foregrounds a functional aspect of language called process metaphor to show how aspects of human activity are prefigured for mass commodification by the manipulation of irrealis spaces. I also show how the fundamental element of any new political economy, the property element, is being largely ignored. The potential creation of a global space as concrete as landed property – electromagnetic spectrum – has significant ramifications for the future of social relations in any global “knowledge economy”.

ACE research vignette 019 : exploring the "Dark Side" of entrepreneurship

This series of research vignettes is aimed at sharing current and interesting research findings from our team of international Entrepreneurhsip researchers. In this vignette, Dr Rene Bakker explores "the dark side" of entrepreneurship.

ACE research briefing paper 005: Global Entrepreneurship Monitor (GEM) - Australia 2011 National Report

This report maps the current state of entrepreneurship in Australia using data from the Global Entrepreneurship Monitor (GEM) for the year 2011. Entrepreneurship is regarded as a crucial driver for economic well-being. Entrepreneurial activity in new and established firms drives innovation and creates jobs. Entrepreneurs also fuel competition thereby contributing indirectly to market and productivity growth along with improving competitiveness of the national economy. Given the economic landscape that exists as a result of the global financial crisis (GFC), it is probably more important than ever for us to understand the effects and drivers of entrepreneurial activity and attitudes in Australia. The central finding of this report is that entrepreneurship is certainly alive and well in Australia. With 10.5 per cent of the adult population involved in setting up a new business or owning a newly founded business as measured by the total entrepreneurial activity rate (TEA) in 2011, Australia ranks second only to the United States among the innovation-driven (developed) economies. Compared with 2010 the TEA rate has increased by 2.7 percentage points. Furthermore, in regard to employee entrepreneurial activity (EEA) rate in established firms, Australia ranks above average. According to GEM data, 5 per cent of the adult population is engaged in developing or launching new products, a new business unit or subsidiary for their employer. Further analysis of the GEM data also clearly shows that Australia compares well with other major economies in terms of the ‘quality’ of entrepreneurial activities being pursued. Indeed, it is not only the quantity of entrepreneurs but also the level of their aspirations and business goals that are important drivers for economic growth. On average, for each business started in Australia driven by the lack of alternatives for the founder to generate income from any other source, there are five other businesses started where the founders specifically want to take advantage of a business opportunity that they believe will increase their personal income or independence. With respect to innovativeness, 31 per cent of Australian new businesses offer products or services which they consider to be new to customers or where very few, or in some cases no, other businesses offer the same product or service. Both these indicators are higher than the average for innovation-driven economies. Somewhat below average is the international orientation of Australian entrepreneurs whereby only 12 per cent aim at having a substantial share of customers from international markets. So what drives this high quantity and quality of entrepreneurship in Australia? The analysis of the data suggests it is a combination of both business opportunities and entrepreneurial skills. It seems that around 50 per cent of the Australian population identify opportunities for a start-up venture and believe that they have the necessary skills to start a business. Furthermore, a large majority of the Australian population report that high media attention for entrepreneurship provides successful role models for prospective entrepreneurs. As a result, 12 per cent of our respondents have expressed the intention to start a business within the next three years. These numbers are all well above average when compared to the other major economies. With regard to gender, the GEM survey shows a high proportion of female entrepreneurs. Approximately 8.4 per cent of adult females are actually involved in setting up a business or have recently done so. Although this female TEA rate is slightly down from 2010, Australia ranks second among the innovation-driven economies. This paints a healthy picture of access to entrepreneurial opportunities for Australian women.

ACE research vignette 024 : New firm formation and job creation by type of firm an type of region.

This series of research vignettes is aimed at sharing current and interesting research findings from our team of international Entrepreneurship researchers. This vignette, written by Mr. Darren Kavanagh and Professor Per Davidsson, takes a closer look at job creation by new firms.

Copyrights and copyfights : copyright law and the digital economy

This paper will consider questions around the reform of copyright law, and how they are increasingly being framed by the challenges of the digital economy. It discusses the review of copyright and the digital economy being undertaken by the Australian Law Reform Commission, with particular reference to the costs and benefits of copyright law to consumers and creative producers. We argue that there is a pressing need to develop fair copyright rules that encourage investment in the digital economy, allow widespread dissemination of knowledge through society, and support the innovative reuse of copyright works. To better align copyright law with these goals, we recommend that Australia introduce an open ended ‘fair use’ style copyright exception, and encourage the development of a digital copyright exchange of the sort discussed in the UK by the Hargreaves and Hooper Reports.

Party On! A call for entrepreneurship research that is more interactive, activity based, cognitively hot, compassionate, and prosocial

It is the Journal of Business Venturing's (JBV) 30th birthday. Although the community of entrepreneurship scholars deserves to celebrate JBV's achievements over the last 30 years (and congratulate the journal's parents—Ian Macmillan and S. Venkataraman), my focus is more on the future of entrepreneurship (and by extension JBV). A focus on entrepreneurship is both timeless and timely. On the one hand, entrepreneurship is timeless given the long-recognized importance of entrepreneurs to economies and societies (e.g., Jean Baptiste who supposedly coined the term in about 1800). On the other hand, a discussion of entrepreneurship is timely because now that the field of entrepreneurship has achieved legitimacy, it faces both opportunities and threats. It is thus timely to acknowledge the threats and think about opportunities to advance the field. A discussion of entrepreneurship is also timely because society faces a number of grand challenges (including the durability of poverty, environmental degradation [ Dorado and Ventresca, 2013]), challenges well suited to entrepreneurial responses...

Ireland's knowledge economy policy: beliefs, drivers and prospects

This dissertation critically examines Ireland’s knowledge economy policy, the country’s basis for economic recovery and growth, to enhance future policy decisions and debate. Much has been written internationally on the ‘knowledge economy’ with its emergence closely related to globalisation and technological progression in the 1990s. Since the late 1990s, Irish policy-makers have been firmly committed to positioning Ireland as a leading knowledge economy. Transforming the country’s competitive base to a knowledge economy is pivotal, directly shaping the course of Ireland’s economy and society. Given Ireland’s current economic crisis, limited resources, global competition from leaders in science and technology and growing challenges from emerging economies, a systematic study of Ireland’s major competitive policy is imperative. Above all, this study explores the processes behind the policy and the multiple actors from different institutions who follow and seek to influence decisions. The advocacy coalition framework is used to identify the advocacy coalition operating in the knowledge economy policy subsystem. The theoretical insights of this framework are also combined with other public policy approaches, providing complementary insights into the policy process. The research is framed around three elements - the beliefs underpinning the policy; who is driving the policy; and the prospects of the policy. Primary information is collected by way of semi-structured in-depth interviews with 49 Irish elites (politicians, senior bureaucrats, academics and business leaders) involved in the formation and implementation of the policy. This study finds that a strong advocacy coalition has formed in this policy subsystem whose members are collectively driving the policy. Both exogenous and endogenous forces help frame a common perception of the problems the policy addresses and the solutions it offers. Evidence suggests that this policy is a sustainable option for Ireland’s economic future and the study concludes with policy recommendations for advancing Ireland’s knowledge economy.

Creativity and entrepreneurial efforts in an emerging economy

While much research has focused on entrepreneurship and creativity in developed economies, the notions of both topics are still embryonic in many emerging economies. This paper focuses on entrepreneurs in one such economy, Vietnam, to understand the perceptions of entrepreneurs about the role that innovation and creativity may play in their own entrepreneurial ventures and success. This is important because before reaping benefits from entrepreneurship, entrepreneurs need to decide when and on what conditions they start based on their calculations of required resources and predictions of likely outcomes. The research also sought to understand how "creativity," broadly applied ("innovation" and "creative performance") affects the ways that entrepreneurs think about and anticipate their own success and decisions. In essence, the study suggests that the higher the entrepreur’s creativity is, the more likely she or he is to start a new business and believe success will result. Future research could examine whether history, industry and geographic location matter in entrepreneurs’ perceptions as well as whether transition/emerging economies like Vietnam may have different views altogether about the two key concepts.

the social economy as an alternative of self employment. profile of the entrepreneur in the andalusian labour companies

This paper provides a quantitative and qualitative analysis of the profile of the entrepreneur who decides to start business through a labor society in the context of the Autonomous Community of Andalucia. Thus, first the Social Economy is presented as an important alternative to creating and promoting employment, which seeks to combine economic and social objectives in the development of activities. Subsequently, focusing on labor companies, updated its importance in the regional economy for later data and through the analysis of two samples are available, set the attributes or most significant characteristics of these entrepreneurs.

Social economy and economic crisis in the basque country abstract

This article examines the socio-economic evolution of the social economy sector in the Basque Country during the 2008-2014 period of economic crisis. Data have been obtained within a framework of collaboration between university, Basque Government and private sector of the social economy. The results suggest that such entities have evolved better, both in terms of number of enterprises and employment, than the general economy of the Basque Country, while the context of public policies aimed at social economy has worsened over the years. However, in economic terms (measured through the Gross Value Added generated), they have not been able to cope with the crisis in equal conditions to the general economy. The main contribution of this research lies in that, unlike similar studies, it discusses the evolution of the whole sector of the social economy, taking as reference a broad period of the current economic crisis.