Search results for "IRM"
showing 10 items of 4043 documents
Influence of board of directors on firm performance: Analysis of family and non-family firms
2015
This article analyses how board structure can affect both financial and social performance, comparing family and non-family firms. Our theoretical framework is based on the integration of the agency theory, traditionally used in the analysis of the impact of the board on the firm's financial performance, with the stakeholder theory, which is more appropriate in the analysis of the social aspects of the firm. Three main aspects are addressed: the analysis of the firm's social performance; the integration of agency theory with stakeholder theory; and the study of the specific characteristics of family firms' boards. The research confirms that neither the agency theory nor the stakeholder theo…
Family governance systems: the complementary role of constitutions and councils
2021
The understanding of family businesses from the family side is still in its infancy. This is especially true in relation to how family members manage their relationships with one another and with the firm. Family growth and evolution are usually accompanied by a reduction in shared family meaning and purpose and greater divergence in the form of factional interests and intentions that harm the family and the firm. To counterbalance this negative impact, scholars generally advocate a set of corporate governance practices. However, few papers have analysed how family regulatory frameworks and family governance institutions affect family firm performance. To the best of our knowledge, no paper…
Survival causal patterns of social and commercial entrepreneurial initiatives in Spain
2021
This research aims at analysing the influence of a holistic configuration of factors related to industry and the characteristics of the entrepreneur and the business, on the survival of social and commercial entrepreneurial initiatives in both, new and consolidated companies. The sample ranges from 2,851 to 2,109 firms, according to the period considered, and has been obtained from the reports of the projects submitted to the Assistance Programme to Young Entrepreneurs, promoted by the Valencian Institute of Youth. Other sources of information have been the Institute’s own reports and the Chambers of Commerce. A configurational analysis is performed using the Fuzzy-Set Qualitative Comparati…
Female Institutional Directors on Boards and Firm Value
2016
The aim of this research is to examine what impact female institutional directors on boards have on corporate performance. Previous research shows that institutional female directors cannot be considered as a homogeneous group since they represent investors who may or may not maintain business relations with the companies on whose corporate boards they sit. Thus, it is not only the effect of female institutional directors as a whole on firm value that has been analysed, but also the impact of pressure-resistant female directors, who represent institutional investors (investment, pension and mutual funds) that only invest in the company, and do not maintain a business relation with the firm.…
More firms, more competition? The case of the fourth operator in France's mobile phone market
2010
Accepted, Forthcoming; International audience; To foster competition the French government authorized a fourth operator, ‘Free', to enter the country's mobile phone market at the end of 2009 alongside Orange, SFR and Bouygues Telecom (BT), who held respectively one-half, one-third and one-sixth of the market. By using a stylized model of France's phone market, we have examined what we call the regulator's nightmares and dreams. If Cournot competition is in place before Free's entry, minimizing the total profit fails to maximize the consumer surplus and the total surplus; the maximum most realistic price fall is 6.7% compared to three-way competition and could be 1.7% only; if Orange, SFR an…
Customer functional value creation through a sustainable entrepreneurial orientation approach
2019
This paper advances a theoretical model to empirically test firms’ behaviour regarding sustainable entrepreneurship, enhancing what researchers have recently proposed at a solely conceptual level; this entails sustainable entrepreneurship being understood as a discipline that reliably allows organizations to successfully respond to sustainable development and market requirements. The authors suggest an integrated approach of dynamic-capabilities, S-D logic and product-service system views, which highlights the managerial predisposition to adopt a strategic position that fosters value in use (instead of regular property value), according to the current school of thoughts engaged with innovat…
One swallow does not make a summer: episodes and persistence in high growth
2021
This paper analyzes firms’ episodes (spells) of high growth (HG) using a sample of Spanish manufacturing firms observed over two decades. The use of duration models allows us to investigate the following: (i) the probability of experiencing HG episodes, (ii) persistence in HG, and (iii) the determinants of the transitions in and out of the HG state and whether their impact varies over the business cycle. We find that about half of the firms experience at least one HG episode, but they seldom experience more than one. Moreover, high-growth status is rarely repeated due to high first-year selection. Yet, in subsequent years beyond the first one, the hazard rate from HG status falls substantia…
Business owners, employees, and firm performance
2018
The novel Finnish Longitudinal OWNer-Employer-Employee (FLOWN) database was used to analyze how the characteristics of owners and employees relate to firm performance as determined by labor productivity, survival, and employment growth. Focusing on the role of the employment history, the results show that previous experience in a high-productivity firm strongly predicts high productivity and probability of survival for the entrepreneur’s new firm. This can be interpreted as evidence of knowledge spillovers through labor mobility of both the owners and the employees. The results also show that the owner’s high education in a technical field is positively related to firm performance. Differen…
Redistribution, selection, and trade
2017
Abstract This paper examines the distributional effects of international trade in a general equilibrium model with heterogeneous agents and a welfare state redistributing income. The redistribution scheme is financed by a progressive income tax and gives the same absolute transfer to all individuals. Ceteris paribus, international trade leads to an increase in income per capita but also to higher income inequality on two fronts. Inter-group inequality between managers and workers increases, and intra-group inequality within the group of managers goes up as well. We show that for a given tax rate, there is an endogenous increase in the size of the welfare state that works against the increas…
Fairness Considerations in Labor Union Wage Setting : A Theoretical Analysis
2012
We consider a theoretical model in which unions not only take the outside option into account, but also base their wage-setting decisions on an internal reference, called the fairness reference. Wage and employment outcomes and the shape of the aggregate wage-setting curve depend on the weight and the size of the fairness reference relative to the outside option. If the fairness reference is relatively high compared to the outside option, higher wages and lower employment than in the standard model will prevail. If hit by an adverse technology shock, the economy will then react with a stronger downward adjustment in employment, whereas real wages are more rigid than in the standard model. W…