La famiglia fa male all’internazionalizzazione dell’impresa? (Does the family hurt the internationalization of the company?)
DOI:
https://doi.org/10.7433/s100.2016.09Keywords:
family business, ownership, governance, successor, internationalizationAbstract
Purpose of the paper: Our aim is to understand, thanks to socioemotional wealth, how family involvement in the business impact on the international expansion of a multinational firm.
Methodology: The sample is composed of 293 Italian multinational companies. Given the continuous nature of the dependent variable, represented by the degree of internationalization, we decided to adopt a multiple linear regression where the independent variable of family firms is a multidimensional one.
Findings: The involvement of the family in the ownership and in the board of directors is negatively associated with the level of internationalization. In contrast, the presence of successors favors the development of the business abroad.
Research limitations: The sample is composed only by Italian firms.
Implications: Both managerial and policy implication emerge. Family firms should consider to accept external equity shareholders and should involve successors in the business. Public incentive should be tailored to specific features, including the ownership structure and the managerial model at the parent company.
Originality of the paper: To the best of our knowledge no paper analyzed the impact of family firms on the firm’s degree of internationalisation.
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JOHANSON J., VAHLNE J-E. (2009), “The Uppsala internationalization process model revisited: from liability of foreignness to liability of outsidership”, Journal of International Business Studies, n. 40, pp. 1411-1431.
JONES C.D., MAKRI M., GOMEZ MEJIA L.R. (2008), “Affiliate directors and perceived risk bearing in publicly traded, family controlled firms: The case of diversification”, Entrepreneurship Theory and Practice, vol. 32, n. 6, 1007-1026.
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KONTINEN T., OJALA A. (2010), “The Internationalization of family business: a review of extant research”, Journal of Family Business Strategy, vol. 1, n. 2, pp. 97-107.
KOTABE M., SRINIVASAN S.S., AULAKH P.S. (2002), “Multinationality and firm performance: the moderating role of R&D and marketing capabilities”, Journal of International Business Studies, vol. 33, n. 1, pp. 79-97.
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LEE S.K., TAN F. (2001), “Growth of Chinese family enterprises in Singapore”, Family Business Review, vol. 14, n. 1, pp. 49-74.
LIANG X., WANG L., CUI Z. (2014), “Chinese private firms and internationalization effects of family involvement in management and family ownership”, Family Business Review, vol. 27, n. 2, pp. 126-141.
LITTUNEN H., HYRSKY K. (2000), “The early entrepreneurial stage in Finnish family and nonfamily firms”, Family Business Review, vol. 13, n. 1, pp. 41-54.
LU J.W., BEAMISH P.W. (2001), “The internationalization and performance of SMEs”, Strategic Management Journal, vol. 22, n. 6-7, pp. 565-586.
MARIOTTI S., MUTINELLI M. (2014), Italia multinazionale 2014: le partecipazioni italiane all'estero ed estere in Italia, Rubbettino, Soveria Mannelli.
McDOUGALL P.P, OVIATT B.M. (2000), “International Entrepreneurship: the Intersection of Two Research Paths”, Academy of Management Journal, vol. 43, n. 5, pp. 902-906.
MUSSO F. (2006), “Strategie di internazionalizzazione fra economie distrettuali e filiere estese”, Sinergie, n. 69, pp. 61-85.
NALDI L., NORDQVIST M. (2008), “Family firms venturing into international markets: a resource dependence perspective”, Frontiers of Entrepreneurship Research. Wellesley, Babson College, MA, pp. 395-413.
OKOROAFO S.C., PERRYY M. (2010), “Generational perspectives of the export behavior of family businesses”, International Journal of Economics and Finance, vol. 2, n. 3, pp. 15-24.
PELLEGRINI M., CIAPPEI C., CANNONI T. (2012), “Communicational topics in governance process of family business succession”, Sinergie, n. 89, pp. 131-146.
PUKALL T.J., CALABRÒ A. (2013), “The Internationalization of family firms: a critical review and integrative model”, Family Business Review, vol. 20, n. 10, pp. 1-23.
REUBER A.R., FISHER E. (1997), “The influence of the management team's international experience on the internationalization behaviors of SMEs”, Journal of International Business Studies, vol. 28, n. 4, pp. 807-825.
ROESSL D. (2005), “Family business and international cooperation”, Family Business Review, vol. 18, n. 3, pp. 202-2014.
SALANCIK G.R., PFEFFER J. (1980), “Effects of ownership and performance on executive tenure in US corporations”, Academy of Management Journal, vol. 23, n. 4, pp. 653-664.
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2016-08-30
