Business Commons^™

Macroconstants Of Development: A New Benchmark For The Strategic Development Of Advanced Countries And Firms, Andrey Bystrov, Vyacheslav Yusim, Tamilla Curtis

Dr. Tamilla Curtis

This research proposed a new indicator of countries’ development called “macroconstants of development”. The literature review indicates that the concept of "macroconstants of development" is not used at the moment in neither the theory nor the practice of industrial policy. Research of longitudinal data of total GDP, GDP per capita and their derivatives for most countries of the world was conducted. An analysis of statistical information has been done by employing econometric analyses.

Based on the analysis of the statistical data, which characterizes the development of large, technologically advanced countries in ordinary conditions, it was identified that the average acceleration …

Family Firms And Entrepreneurship: Contradiction Or Synonym?, Sascha Kraus, Justin Craig, Clay Dibrell, Stefan Mark

Justin B. Craig

Extract: This Journal of Small Business and Entrepreneurship (JSBE) Special Issue was motivated by increasing intellectual curiosity from within the entrepreneurship academic community to study entrepreneurial phenomenon in a family business context. Family enterprises dominate the commercial landscape in all economies, and interest in the unique challenges facing this business genre is growing. In many family firms, ownership and management are maintained across several generations, and a key challenge for long-term survival is to sustain the entrepreneurial spirit of the founding generation of entrepreneurs (Littunen and Hyrsky, 2000). All firms regularly need to renew their way of doing business in …

Actual And Preferred Hrm Practices In Domestic And Foreign Invested Firms, Palli Mulla K A Chandrakumara, H Gunathilake, John Glynn

John J Glynn

This study examines differences between actual and preferred HRM policies and practices in domestic firms (DF) and MNC subsidiaries (MNCs) in Sri Lanka. The paper argues the existence of within-country differences in HRM practices between MNCs and DF. The analysis and findings are based on 487 responses from employees and HR executives of eight manufacturing sector companies. Results indicate that differences exist between MNCs and DF in not only actual HR practices, but also in preferred HRM practices. Within-culture diversity of both employees' preferences for and actual HRM practices between DF and MNCs was evident. The findings contribute to cross-cultural …

Actual And Preferred Hrm Practices In Domestic And Foreign Invested Firms, Palli Mulla K A Chandrakumara, H Gunathilake, John Glynn

Anil Chandrakumara

This study examines differences between actual and preferred HRM policies and practices in domestic firms (DF) and MNC subsidiaries (MNCs) in Sri Lanka. The paper argues the existence of within-country differences in HRM practices between MNCs and DF. The analysis and findings are based on 487 responses from employees and HR executives of eight manufacturing sector companies. Results indicate that differences exist between MNCs and DF in not only actual HR practices, but also in preferred HRM practices. Within-culture diversity of both employees' preferences for and actual HRM practices between DF and MNCs was evident. The findings contribute to cross-cultural …

Complex And Diverse Roles Performed By Non-Executive Directors In The Context Of The Implementation Of The Non-Regulatory Codes Of Corporate Governance: Evidence From Small And Medium Firms In The Uk, H Gunathilake, Palli Mulla K A Chandrakumara

Anil Chandrakumara

This study aims to address two interrelated issues. (1) What is the role of nonexecutive directors (NEDs) of public companies listed in the Alternative Investment Market (AIM) in the UK? (2) Whether AIM listed companies accept the principles and provisions of the Combined Code of Corporate Governance (CCCG)? And, if so, to what extent? The findings indicate that the nature of task of NEDs of AMI listed firms is characterised by multiplicity of tasks and task variation by the type of chair. This study contributes to fill the knowledge gap in the literature with regard to the role of NEDs …

Capital Structure And Firm Performance In Emerging Economies: An Empirical Analysis Of Sri Lankan Firms, Anura De Zoysa, Muhammad Chowdhury, Palli Mulla K A Chandrakumara, Athula Manawaduge

Anil Chandrakumara

This paper offers an empirical analysis of the impact of capital structure on firm performance in thecontext of an emerging market¿Sri Lanka. The study applies both pooled and panel data regressionmodels for a sample of 155 Sri Lankan-listed firms. The results demonstrate that most of the SriLankan firms finance their operations with short-term debt capital as against the long-term debtcapital and provide strong evidence that the firm performance is negatively affected by the use of debtcapital. The study also finds a significant negative relationship between tangibility and performanceindicating inefficient utilization of non-current assets. The negative performance implicationsassociated with over-utilization of …

Political Connections, Founding Family Ownership And Leverage Decision Of Privately Owned Firms, Qigui Liu, Gary Tian

Qigui Liu

In this paper, we examine the effect of political connections versus founding family ownership on the relationship between disproportional ownership structure and leverage decisions of privately owned firms listed in Chinese market. We find that disproportional ownership has positive effect on leverage, indicating that controlling shareholder tends to use both disproportional ownership structure and debt to expropriate. We also find that the interacted term between disproportional ownership and political connections has a positive impact on leverage ratio, and disproportional ownership structure is negatively related with leverage ratio of founding-family controlled firms, which indicate a substitute effect between political connections and …

A 10-Year Longitudinal Investigation Of Strategy, Systems, And Environment On Innovation In Family Firms, Justin Craig, Ken Moores

Justin B. Craig

This article studies innovation in family firms, filling in some gaps in existent literature. The research addresses the idea of shifting leadership, different mechanisms of facilitating communication, and the importance to the firm of technical progress, linking each to innovation. Shifting leadership is addressed through the longitudinal design. Communication mechanisms are monitored through two constructs: scope of information and timeliness of information. Technical progress is included in an environmental uncertainty factor technoeconomic uncertainty. The findings suggest that linkages between established family firms and innovation may be substantially stronger than currently assumed by many.

Balanced Scorecards To Drive The Strategic Planning Of Family Firms, Justin Craig, Ken Moores

Justin B. Craig

The focus of this research is the measurement and management tool known as the Balanced Scorecard (BSC) and how it can be applied in the family business context. In this article we add familiness to the four BSC perspectives (financial, innovation and learning, customer, internal process) and illustrate how this can assist business development, management, and succession planning in family-owned businesses. We use an action research project to highlight how family businesses can professionalize their management by the adoption of a BSC strategy map that includes a family business focus and links the core essence of the family business with …