Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy
Título del documento: Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy
Revista: BAR - Brazilian Administration Review
Base de datos: CLASE
Número de sistema: 000494847
ISSN: 1807-7692
Autores: 1
1
2
3
Instituciones: 1Universidade de Sao Paulo, Sao Paulo. Brasil
2Universiteit Antwerpen, Amberes. Bélgica
3Universidade Presbiteriana Mackenzie, Sao Paulo. Brasil
Año:
Volumen: 17
Número: 2
País: Brasil
Idioma: Inglés
Tipo de documento: Artículo
Enfoque: Analítico, descriptivo
Resumen en inglés 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
Disciplinas: Administración y contaduría
Palabras clave: Administración de instituciones,
Gestión de recursos naturales,
Teoría de la mayordomía,
Empresas familiares,
Administración de empresas,
CEO's
Keyword: Management of institutions,
Natural resources management,
Stewardship theory,
Family companies,
Business managemet,
CEOs
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