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Agency Differences In Professional Family Businesses: The Known And The Unknown, Ken Moores, Justin Craig
Agency Differences In Professional Family Businesses: The Known And The Unknown, Ken Moores, Justin Craig
Justin B. Craig
We suggest in this paper one of the reasons that researchers concur agency costs in family firms are more complex than originally thought maybe related to the lack of conceptual clarity. This, we propose, is because when frameworks and theories are borrowed and enthusiastically embraced without attention to clearly defining concepts from original sources, conceptual clarity is clouded. Clarity is achieved by specifying the conditions necessary for these concepts to be applicable in generating originally envisaged consequences. We present the conditions necessary for the optimum applicability of original agency theoretical concepts in family firms and tentatively distinguish between what is …
The Road To Legitimacy: A Study Of Startups And Their Established Competitors In The Australian Wine Industry (Summary), Clay Dibrell, Aaron Johnson, Peter Davis, Ken Moores, Justin Craig
The Road To Legitimacy: A Study Of Startups And Their Established Competitors In The Australian Wine Industry (Summary), Clay Dibrell, Aaron Johnson, Peter Davis, Ken Moores, Justin Craig
Justin B. Craig
A barrier to startup success is the liability of newness. One strategy to overcome this obstacle is through gaining venture legitimacy. Legitimacy is defined as acceptance, suitability, and appeal of the startup as judged by external and internal stakeholders such as the marketplace, industry competitors, and employees. Through attainment of legitimacy, a startup now has increased opportunities to access resources required for survival and growth. Drawing from institutional theory, a startup should heed external institutional forces and adapt to isomorphic pressures to gain legitimacy in an industry. Alternatively, a resource-based view perspective suggests that internal coordination and marshaling of resources …
Tilting At Windmills? The Environmental Movement And The Emergence Of The U.S. Wind Energy Sector, Wesley Sine, Brandon Lee
Tilting At Windmills? The Environmental Movement And The Emergence Of The U.S. Wind Energy Sector, Wesley Sine, Brandon Lee
Brandon Lee
Through a study of the emergent U.S. wind energy sector, 1978–1992, this paper examines how large scale social movements external to an industry can influence the creation of new market opportunities and hence encourage entrepreneurship. We theorize that through the construction and propagation of cognitive frameworks, norms, values, and regulatory structures, and by offering a preexisting social structure, social movement organizations influence whether entrepreneurs attempt to start ventures in emerging sectors. We find that the direct and indirect effects of social resources (e.g., environmental groups) had a larger impact on entrepreneurial activity in this sector than the availability of natural …