Publicação
Fast or slow? Decision-making styles in small family and nonfamily firms
| Resumo: | Purpose – The purpose of this paper is to explore differences in the decision-making styles between family and nonfamily firms, while assessing how family participation relates to the use of decision-making styles within family firms. Design/methodology/approach – The empirical evidence is provided by a sample of 155 firms, located in the Azores, Portugal, 82 family controlled and 73 nonfamily controlled firms. All firms included in the sample are small-sized privately owned enterprises. Business owners and managers responded to a decision-making styles questionnaire, followed, in the case of family firms, by the report of the number of family members actively involved in the business. Findings – Results show that there are no differences in the use of rational decision making between family and nonfamily firms. However, nonfamily firms show higher levels of experiential decision making than family firms. Results also show that family participation plays a key role in guiding the decisional process, by promoting the use experiential decisions and inhibiting the adoption of a rational decision-making styles in family firms. Research limitations/implications – From a theoretical perspective, this study opens the door to new research on an under investigated topic in the family business literature. It contributes with initial notions that may help profile the decisional style within small family firms, while revealing how family participation affects it. Thus, creating a fertile ground of discussion that can be an impulse for more research in this area. Practical implications – From an applied perspective, assessing the influence of family participation in the adoption of a decisional style is potentially valuable for practitioners as well as for owners and managers. Providing them with clues that may help them better understand the basis of their decisions which can benefit their relations with other family members, as with customers, partners and suppliers that play a key role in the firm’s growth, profitability and adaptability. Social implications – From a social point of view, showing that family firms tend to be rational in their decisions may help create a more reputable and credible image surrounding these firms that are sometimes perceived as less professional than nonfamily firms. Thus, a more solid reputability can help improve their relationship with important partner institutions (e.g. financial, governmental), becoming more attractive to private and public investment, which can translate into win-win situations. Originality/value – This study responds to a gap in the literature, by exploring the use of experiential vs rational decision-making styles in small family and nonfamily firms. This study also contributes to the understanding of the decision making within family firms, by assessing the role of family participation in the adoption of a decisional style. |
|---|---|
| Autores principais: | Pimentel, Duarte Nuno Gonçalves |
| Outros Autores: | Scholten, Marc; Couto, João Pedro |
| Assunto: | Family business Decision-making style Family participation |
| Ano: | 2018 |
| País: | Portugal |
| Tipo de documento: | artigo |
| Tipo de acesso: | acesso restrito |
| Instituição associada: | Ispa-Instituto Universitário |
| Idioma: | inglês |
| Origem: | Repositório do Ispa - Instituto Universitário |
| _version_ | 1866252632796954624 |
|---|---|
| author | Pimentel, Duarte Nuno Gonçalves |
| author2 | Scholten, Marc Couto, João Pedro |
| author2_role | author author |
| author_facet | Pimentel, Duarte Nuno Gonçalves Scholten, Marc Couto, João Pedro |
| author_role | author |
| contributor_name_str_mv | Repositório do ISPA |
| country_str | PT |
| creators_json_txt | [{\"Person.name\":\"Pimentel, Duarte Nuno Gonçalves\",\"Person.identifier.orcid\":\"0000-0002-8224-0571\"},{\"Person.name\":\"Scholten, Marc\",\"Person.identifier.orcid\":\"0000-0003-1868-5928\"},{\"Person.name\":\"Couto, João Pedro\",\"Person.identifier.orcid\":\"0000-0001-9607-0596\"}] |
| datacite.contributors.contributor.contributorName.fl_str_mv | Repositório do ISPA |
| datacite.creators.creator.creatorName.fl_str_mv | Pimentel, Duarte Nuno Gonçalves Scholten, Marc Couto, João Pedro |
| datacite.date.Accepted.fl_str_mv | 2018-01-01T00:00:00Z |
| datacite.date.available.fl_str_mv | 2020-07-23T15:22:06Z |
| datacite.date.embargoed.fl_str_mv | 2020-07-23T15:22:06Z |
| datacite.rights.fl_str_mv | http://purl.org/coar/access_right/c_16ec |
| datacite.subjects.subject.fl_str_mv | Family business Decision-making style Family participation |
| datacite.titles.title.fl_str_mv | Fast or slow? Decision-making styles in small family and nonfamily firms |
| dc.contributor.none.fl_str_mv | Repositório do ISPA |
| dc.creator.none.fl_str_mv | Pimentel, Duarte Nuno Gonçalves Scholten, Marc Couto, João Pedro |
| dc.date.Accepted.fl_str_mv | 2018-01-01T00:00:00Z |
| dc.date.available.fl_str_mv | 2020-07-23T15:22:06Z |
| dc.date.embargoed.fl_str_mv | 2020-07-23T15:22:06Z |
| dc.format.none.fl_str_mv | application/pdf |
| dc.identifier.none.fl_str_mv | http://hdl.handle.net/10400.12/7720 |
| dc.language.none.fl_str_mv | eng |
| dc.publisher.none.fl_str_mv | Emerald Group Publishing Ltd. |
| dc.rights.cclincense.fl_str_mv | http://creativecommons.org/licenses/by/4.0/ |
| dc.rights.none.fl_str_mv | http://purl.org/coar/access_right/c_16ec |
| dc.subject.none.fl_str_mv | Family business Decision-making style Family participation |
| dc.title.fl_str_mv | Fast or slow? Decision-making styles in small family and nonfamily firms |
| dc.type.none.fl_str_mv | http://purl.org/coar/resource_type/c_6501 |
| description | Purpose – The purpose of this paper is to explore differences in the decision-making styles between family and nonfamily firms, while assessing how family participation relates to the use of decision-making styles within family firms. Design/methodology/approach – The empirical evidence is provided by a sample of 155 firms, located in the Azores, Portugal, 82 family controlled and 73 nonfamily controlled firms. All firms included in the sample are small-sized privately owned enterprises. Business owners and managers responded to a decision-making styles questionnaire, followed, in the case of family firms, by the report of the number of family members actively involved in the business. Findings – Results show that there are no differences in the use of rational decision making between family and nonfamily firms. However, nonfamily firms show higher levels of experiential decision making than family firms. Results also show that family participation plays a key role in guiding the decisional process, by promoting the use experiential decisions and inhibiting the adoption of a rational decision-making styles in family firms. Research limitations/implications – From a theoretical perspective, this study opens the door to new research on an under investigated topic in the family business literature. It contributes with initial notions that may help profile the decisional style within small family firms, while revealing how family participation affects it. Thus, creating a fertile ground of discussion that can be an impulse for more research in this area. Practical implications – From an applied perspective, assessing the influence of family participation in the adoption of a decisional style is potentially valuable for practitioners as well as for owners and managers. Providing them with clues that may help them better understand the basis of their decisions which can benefit their relations with other family members, as with customers, partners and suppliers that play a key role in the firm’s growth, profitability and adaptability. Social implications – From a social point of view, showing that family firms tend to be rational in their decisions may help create a more reputable and credible image surrounding these firms that are sometimes perceived as less professional than nonfamily firms. Thus, a more solid reputability can help improve their relationship with important partner institutions (e.g. financial, governmental), becoming more attractive to private and public investment, which can translate into win-win situations. Originality/value – This study responds to a gap in the literature, by exploring the use of experiential vs rational decision-making styles in small family and nonfamily firms. This study also contributes to the understanding of the decision making within family firms, by assessing the role of family participation in the adoption of a decisional style. |
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| language | eng |
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| organization_str_mv | urn:organizationAcronym:ispa |
| person_str_mv | Pimentel, Duarte Nuno Gonçalves Pimentel, Duarte Nuno Gonçalves https://www.ciencia-id.pt/9418-9B02-5414 9418-9B02-5414 http://orcid.org/0000-0002-8224-0571 0000-0002-8224-0571 Scholten, Marc Scholten, Marc https://www.ciencia-id.pt/AD19-5A7C-46F6 AD19-5A7C-46F6 http://orcid.org/0000-0003-1868-5928 0000-0003-1868-5928 Couto, João Pedro Couto, João Pedro https://www.ciencia-id.pt/D61F-7EBC-5E40 D61F-7EBC-5E40 http://orcid.org/0000-0001-9607-0596 0000-0001-9607-0596 |
| publishDate | 2018 |
| publisher.none.fl_str_mv | Emerald Group Publishing Ltd. |
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| spelling | engEmerald Group Publishing Ltd.pt_PTPurpose – The purpose of this paper is to explore differences in the decision-making styles between family and nonfamily firms, while assessing how family participation relates to the use of decision-making styles within family firms. Design/methodology/approach – The empirical evidence is provided by a sample of 155 firms, located in the Azores, Portugal, 82 family controlled and 73 nonfamily controlled firms. All firms included in the sample are small-sized privately owned enterprises. Business owners and managers responded to a decision-making styles questionnaire, followed, in the case of family firms, by the report of the number of family members actively involved in the business. Findings – Results show that there are no differences in the use of rational decision making between family and nonfamily firms. However, nonfamily firms show higher levels of experiential decision making than family firms. Results also show that family participation plays a key role in guiding the decisional process, by promoting the use experiential decisions and inhibiting the adoption of a rational decision-making styles in family firms. Research limitations/implications – From a theoretical perspective, this study opens the door to new research on an under investigated topic in the family business literature. It contributes with initial notions that may help profile the decisional style within small family firms, while revealing how family participation affects it. Thus, creating a fertile ground of discussion that can be an impulse for more research in this area. Practical implications – From an applied perspective, assessing the influence of family participation in the adoption of a decisional style is potentially valuable for practitioners as well as for owners and managers. Providing them with clues that may help them better understand the basis of their decisions which can benefit their relations with other family members, as with customers, partners and suppliers that play a key role in the firm’s growth, profitability and adaptability. Social implications – From a social point of view, showing that family firms tend to be rational in their decisions may help create a more reputable and credible image surrounding these firms that are sometimes perceived as less professional than nonfamily firms. Thus, a more solid reputability can help improve their relationship with important partner institutions (e.g. financial, governmental), becoming more attractive to private and public investment, which can translate into win-win situations. Originality/value – This study responds to a gap in the literature, by exploring the use of experiential vs rational decision-making styles in small family and nonfamily firms. This study also contributes to the understanding of the decision making within family firms, by assessing the role of family participation in the adoption of a decisional style.application/pdfpt_PTFast or slow? Decision-making styles in small family and nonfamily firmsPersonalPimentel, Duarte Nuno GonçalvesDSpacehttp://dspace.org/items/0e36f639-ff4e-4fda-86ae-e3bd6c7ad38eDSpacehttp://dspace.org/items/0e36f639-ff4e-4fda-86ae-e3bd6c7ad38ePimentelDuarteCiência IDhttps://www.ciencia-id.pt9418-9B02-5414ORCIDhttp://orcid.org0000-0002-8224-0571Researcher IDhttps://www.researcherid.comR-8137-2017Scopus Author IDhttps://www.scopus.com55577361500Scopus Author IDhttps://www.scopus.com57198769686PersonalScholten, MarcDSpacehttp://dspace.org/items/b3bfbed5-e229-4e3d-9984-5d908f334309DSpacehttp://dspace.org/items/b3bfbed5-e229-4e3d-9984-5d908f334309ScholtenMarcCiência IDhttps://www.ciencia-id.ptAD19-5A7C-46F6ORCIDhttp://orcid.org0000-0003-1868-5928Scopus Author IDhttps://www.scopus.com8123698000PersonalCouto, João PedroDSpacehttp://dspace.org/items/436299fa-3ecb-47ed-aa38-67cb6171fcd7DSpacehttp://dspace.org/items/436299fa-3ecb-47ed-aa38-67cb6171fcd7CoutoJoãoCiência IDhttps://www.ciencia-id.ptD61F-7EBC-5E40ORCIDhttp://orcid.org0000-0001-9607-0596Researcher IDhttps://www.researcherid.comA-7478-2013Scopus Author IDhttps://www.scopus.com8633313100HostingInstitutionOrganizationalRepositório do ISPAe-mailmailto:repositorio@ispa.ptrepositorio@ispa.ptISSNIsPartOf20436238DOIIsPartOf10.1108/JFBM-02-2017-00072020-07-23T15:22:06Z20182018-01-01T00:00:00ZHandlehttp://hdl.handle.net/10400.12/7720http://purl.org/coar/access_right/c_16ecrestricted accessFamily businessDecision-making styleFamily participation168518 bytesliteraturehttp://purl.org/coar/resource_type/c_6501journal article2018http://creativecommons.org/licenses/by/4.0/http://purl.org/coar/access_right/c_16ecapplication/pdffulltexthttps://repositorio.ispa.pt/bitstreams/7c7ccf5a-9b4e-4890-bf68-33948fca4617/downloadJournal of Family Business Management82113125United Kingdom |
| spellingShingle | Fast or slow? Decision-making styles in small family and nonfamily firms Pimentel, Duarte Nuno Gonçalves Family business Decision-making style Family participation |
| status | SINGLETON |
| subject.fl_str_mv | Family business Decision-making style Family participation |
| title | Fast or slow? Decision-making styles in small family and nonfamily firms |
| title_full | Fast or slow? Decision-making styles in small family and nonfamily firms |
| title_fullStr | Fast or slow? Decision-making styles in small family and nonfamily firms |
| title_full_unstemmed | Fast or slow? Decision-making styles in small family and nonfamily firms |
| title_short | Fast or slow? Decision-making styles in small family and nonfamily firms |
| title_sort | Fast or slow? Decision-making styles in small family and nonfamily firms |
| topic | Family business Decision-making style Family participation |
| topic_facet | Family business Decision-making style Family participation |
| url | http://hdl.handle.net/10400.12/7720 |
| visible | 1 |