Essays on contextualising firm performance heterogeneity.

¿Por qué las empresas tienen un rendimiento diferente dentro del mismo sector? Esta ha sido la pregunta clave en la literatura de gestión estratégica y esta disertación se centra en los avances del conocimiento académico sobre la heterogeneidad en el desempeño de las empresas. Por medio de una serie de ensayos, la tesis adopta un enfoque complejo y tiene como objetivo contextualizar la heterogeneidad en el desempeño de las empresas. Esta disertación se basa principalmente en una serie de ensayos que contextualizan los resultados empresariales a nivel de la empresa del, sector y de la relación entre sectores. Hay un gran debate entre los investigadores en temas de estrategia para presentar una visión más holística sobre los resultados empresariales - desde su creación hasta alcanzar una ventaja competitiva sostenible - y esta tesis tiene como objetivo proporcionar una visión mas completa. Mediante la incorporación de conceptos como el aprendizaje organizacional los modelos de negocio flexible, la heterogeneidad de los recursos, la gestión del conocimiento y las capacidades clave, que han sido estudiados de forma independiente, esta tesis tiene como objetivo examinar estos conceptos de forma conjunta y conceptualizar el proceso del desempeño empresarial. Usando la metodología del estudio de casos y un enfoque pluralista que incorpore el positivismo e interpretativismo en e l análisis de las empresas del sector aéreo y de servicios eléctricos, esta tesis desarrolla el concepto de desempeño de la empresa en los ámbitos entra e inter industrial. Los resultados indican que la heterogeneidad del desempeño entre las empresas dentro del mismo sector no se basa en un solo factor o en una sola teoría sino más bien en una serie de conceptos.

Third-party complaints and firm performance: an application in Spanish banking

This article focuses on the impact of third-party complaints on firm performance. We propose two research hypotheses, which are developed from the literature of dissatisfaction, emotions, and economics. The methodology is based on an event study to estimate variation in firm share returns in the stock market due to the publication of the Annual Complaints Service Report by the Bank of Spain; as well as a regression analysis to examine the impact of the number of complaints per branch on the variation obtained. The empirical focus is on a sample of eleven banks to which complaints were made and which were quoted on the Spanish Stock Exchange between 1992 and 2001. The results show a negative impact of the publication of these annual complaint reports on the share returns of the banks concerned. Additionally, these returns have a negative relationship with the number of complaints per branch.

Quality management, environmental management and firm performance in the Spanish hotel industry

Comunicación presentada en el XVI Simposio Internacional de Turismo y Ocio, ESADE, 23 mayo 2007.

Crisis Coming Home? Firm Performance During the Economic Crisis and Managers‘ Work-Family Conflict

The economic crisis over the past years has challenged managers in many ways. In our longitudinal study during the global recession, we examine how perceived firm performance interacts with sources of supervisor support and stress to affect managers’ work-family conflict. First, we draw from Conservation of Resources theory to analyze how sources of supervisor support and stress relate to managers’ work-family conflict. Second, we explore how perceived firm performance modifies the relationships between these factors and work-family conflict. Our surveys of 182 managers before and during the crisis reveal that perceived firm performance significantly alters the effectiveness of sources of supervisor support in relieving work-family conflict. Additionally, perceived poor firm performance was found to intensify the negative effect of stressors on work-family conflict. Our results highlight the need to consider an organization’s perceived health when studying managers’ attitudes and career outcomes.

Socioemotional Wealth, Ambidexterity, and Family Firm Performance: An Empirical Study

While family business literature agrees that family firms are driven by both non-economic and financial motives, it is unclear how the prioritization of socioemotional wealth (SEW) over financial considerations affects family firms' financial performance. Based on a sample of 343 family firm owners from German-speaking Europe, this study reveals a significant and positive relationship between the firm owners' SEW considerations and their family businesses' financial performance. This relationship, in turn, is found to be mediated by organizational ambidexterity. A fine-grained analysis of the different SEW dimensions indicates that this pattern may be driven by two elements of socioemotional wealth only (family members' identification with the firm and emotional attachment). Our findings demonstrate that business families do not necessarily face a trade-off when prioritizing the preservation of their SEW over stabilizing or improving the financial performance of their business. The study enriches several streams of literature and opens up numerous avenues for future research.

Strategy-making process and firm performance in small firms

This paper argues that individual small firms just like large firms, place differing emphasis on strategy-making and may employ different modes of strategy-making. It offers a typology of the different modes of strategy-making that seem most likely to exist in small firms, and hypothesises how this typology relates to performance. It then describes the results of an empirical study of the strategy-making processes of small firms. The structural equation analysis of the data from 477 small firms with less than 100 employees indicates among other results that the simplistic, adaptive, intrapreneurial and participative modes of strategy-making exist in these small firms. Of these modes, the simplistic mode exhibits the strongest relationship with firm performance.

Optimal geographic diversification and firm performance:evidence from the U.K.

This paper examines the relationship between multinationality and firm performance. The analysis is based on a sample of over 400 UK multinationals, and encompasses both service sector and manufacturing sector multinationals. This paper confirms the non-linear relationship between performance and multinationality that is reported elsewhere in the literature, but offers further analysis of this relationship. Specifically, by correcting for endogeneity in the investment decision, and for shocks in productivity across countries, the paper demonstrates that the returns to multinationality are greater than those that have been reported elsewhere, and persist to higher degrees of international diversification.