Open Access. Powered by Scholars. Published by Universities.®
Articles 1 - 5 of 5
Full-Text Articles in Business
Accession Tournaments: The Application Of A Game Theory Derivative To The Multi-Dimensional Family Business Accession Process (Interactive Paper), Justin Craig, Clay Dibrell
Accession Tournaments: The Application Of A Game Theory Derivative To The Multi-Dimensional Family Business Accession Process (Interactive Paper), Justin Craig, Clay Dibrell
Justin B. Craig
We argue that the recent governance and professionalization focus in family business research conversations, while helpful in understanding succession, and family businesses in general, needs to be complemented with a theoretical discussion of the multi-dimensional accession process. We contend that this process is multi-dimensional as, unlike in a corporate setting where the incumbent is succeeded by a suitable successor, multi-generational family businesses are more complex and there is potentially a plethora of positions of influence for which actors can compete. We use tournament theory to propose how family actors will act in accession tournaments and propose that the absence of …
Overcoming The Liability Of Theoretical Newness: The Case For Stewardship Theory (Summary), Justin Craig, Clay Dibrell, Donald Neubaum
Overcoming The Liability Of Theoretical Newness: The Case For Stewardship Theory (Summary), Justin Craig, Clay Dibrell, Donald Neubaum
Justin B. Craig
To overcome stewardship theory’s liability of newness, we introduce a validated and reliable measure for stewardship. Using Dubin’s features of a theoretical model to position stewardship theory, we endeavour to take a structured approach in the Kuhn-characterised normal science stage of entrepreneurship. There is a danger that stewardship theory currently bears many of the hallmarks of a summative unit (in Dubin’s terms), where a summative unit is one that can be referred to as a global unit that stands for an entire complex phenomenon; conveys a great deal of meaning but is always diffuse; draws together a number of different …
The Impact Of Firm Natural Environment Policy On The Market Orientation To Innovation Relationship In Smes (Interactive Paper), Clay Dibrell, Justin Craig, Eric Hansen
The Impact Of Firm Natural Environment Policy On The Market Orientation To Innovation Relationship In Smes (Interactive Paper), Clay Dibrell, Justin Craig, Eric Hansen
Justin B. Craig
As the natural environment emerges as a strategic issue, conceptual linkages are leading to empirical investigations that examine the antecedents and effects of incorporating the natural environment into firm processes such as market orientation and entrepreneurial behaviors. This project is part of an ongoing research agenda that examines the role of the natural environment in new and growing ventures. Specifically, in this paper, the research questions investigated are: How do small-to-medium sized firms (SMEs) incorporate natural environment issues in relation to the way they present themselves to, and receive information from, their customers and competitors (i.e., market orientation)?; and, How …
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 …
Linking Transgenerational Value Creation With Natural Environment And Sustainability Policy In Family And Non-Family Owned Firms: Extending The Agency-Stewardship Theory Debate, Justin Craig, Clay Dibrell
Linking Transgenerational Value Creation With Natural Environment And Sustainability Policy In Family And Non-Family Owned Firms: Extending The Agency-Stewardship Theory Debate, Justin Craig, Clay Dibrell
Justin B. Craig
In this paper, we extend the existing agency-stewardship theory debate by linking transgenerational value creation with the natural environment. We enlist stewardship and agency theories to frame our discussion. Specifically, a firm with a positive natural environmental sustainability policy (ESP) acts as a proxy for the attributes of stewardship theory, whereas a neutral firm position toward ESP operates as a surrogate for agency theory. We test stewardship theory within the context of non-family (n=175) and family-owned (n=216) firms. Our findings suggest that family-owned firms do exhibit forms of stewardship behavior, while non-family-owned firms displayed propensity toward agency-like actions.