Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Associação Nacional de Pós-Graduação e Pesquisa em Administração
2020
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| _version_ | 1876480323877863424 |
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| author | Daniel Magalhães Mucci |
| author_facet | Daniel Magalhães Mucci |
| contents | Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy Daniel Magalhães Mucci Fábio Frezatti Ann Jorissen Diógenes de Souza Bido Administración y Contabilidad family CEO performance family firm Stewardship theory family involvement in management 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. 2020 artículo científico 1807-7692 https://www.redalyc.org/articulo.oa?id=84164334002 https://www.redalyc.org/journal/841/84164334002/ https://www.redalyc.org/journal/841/84164334002/html/ https://www.redalyc.org/journal/841/84164334002/84164334002.epub https://www.redalyc.org/journal/841/84164334002/movil 10.1590/1807-7692bar2020180139 en http://www.redalyc.org/revista.oa?id=841 BAR - Brazilian Administration Review application/pdf Associação Nacional de Pós-Graduação e Pesquisa em Administração BAR - Brazilian Administration Review (Brasil) Num.2 Vol.17 |
| format | Artículo científico |
| id | redalyc_84164334002 |
| institution | Redalyc |
| language | en |
| publishDate | 2020 |
| publisher | Associação Nacional de Pós-Graduação e Pesquisa em Administração |
| spellingShingle | Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy Daniel Magalhães Mucci Administración y Contabilidad family CEO performance family firm Stewardship theory family involvement in management Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy Daniel Magalhães Mucci Fábio Frezatti Ann Jorissen Diógenes de Souza Bido Administración y Contabilidad family CEO performance family firm Stewardship theory family involvement in management 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. 2020 artículo científico 1807-7692 https://www.redalyc.org/articulo.oa?id=84164334002 https://www.redalyc.org/journal/841/84164334002/ https://www.redalyc.org/journal/841/84164334002/html/ https://www.redalyc.org/journal/841/84164334002/84164334002.epub https://www.redalyc.org/journal/841/84164334002/movil 10.1590/1807-7692bar2020180139 en http://www.redalyc.org/revista.oa?id=841 BAR - Brazilian Administration Review application/pdf Associação Nacional de Pós-Graduação e Pesquisa em Administração BAR - Brazilian Administration Review (Brasil) Num.2 Vol.17 |
| title | Stewardship-oriented Culture and Family Firm Performance: A Study on the Moderating Effects in an Emerging Economy |
| topic | Administración y Contabilidad family CEO performance family firm Stewardship theory family involvement in management |
| url | https://www.redalyc.org/articulo.oa?id=84164334002 https://www.redalyc.org/journal/841/84164334002/ https://www.redalyc.org/journal/841/84164334002/html/ https://www.redalyc.org/journal/841/84164334002/84164334002.epub https://www.redalyc.org/journal/841/84164334002/movil |