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More than 15 years after the introduction of 'familiness' into the literature, the term has evolved into one of the most popular concepts in family firm research. Despite the steadily growing body of studies that build on familiness, recent calls suggest a need to revisit its conceptualisation due to a lack of a common understanding that could affect future research endeavours. In our systematic literature review of 25 studies, we find support for this notion and show that the discussion on the concept has reached a dead end. We present a systematisation of familiness research that highlights an inconsistent conceptualisation, a lack of validation and even a partial hijacking of the term into contexts different from those originally proposed by Habbershon and Williams (1999). Based on these findings, we present a research agenda aimed at overcoming the current limitations and rejuvenating familiness as a suitable approach to understanding family firm heterogeneity.
The creation of a common European currency has been scrutinized in the context of optimum currency area theory since its origin in Mundell (1961). The debate gained particular prominence in light of the endogeneity hypothesis (Frankel and Rose 1998), which argues that once two countries establish a common currency, their economic structures and cycles increasingly align due to strengthening intra-industry trade. By contrast, the specialization hypothesis (Eichengreen 1992; Krugman and Venables 1996) argues that the creation of a currency union will predominantly increase inter-industry trade, ultimately lowering business cycle correlation. To test these views, we establish several indices of bilateral trade intensity across EU members using input–output data, measuring gross and so-called value-added trade, which also considers the contribution of intermediary goods in the production of final exports. The results of the fixed effect panel data framework indicate a strong and robust empirical relationship between growth correlations and intra-industry trade, much in line with both Mundell’s and Frankel and Rose’s theories. However, we cannot establish a similarly robust relationship between total trade intensity and growth correlations. We reconcile these results by identifying a statistically significant relationship between economic alignment and trade when only considering industrial production, highlighting the importance of pan-European industrial supply chains for European economic integration. Rerunning our regression framework on the subsample of the eurozone indicates that the common currency area displayed even stronger properties of an optimum currency area than the entire European Union.
Purpose
Literature on entrepreneurial resourcefulness (ER) has grown constantly in the last two decades. ER is a construct that describes the specific behavior of entrepreneurs, focusing on the generation and deployment of resources to pursue an opportunity. Since the ER literature has expanded and diversified, the purpose of this study is to integrate its findings with existing knowledge about the construct.
Design/methodology/approach
The study applies a systematic literature review approach, following the methodology of Tranfield et al. (2003). The authors identify and synthesize 31 studies focusing on ER.
Findings
The literature on ER can function on four different levels: (1) individual, (2) organizational, (3) contextual, and (4) effectual level. Studies on ER concentrate on either the individual or the organizational level, with the contextual and effectual levels appearing as additional study categories for the studies. Behind this categorization, research views ER either as an antecedent influencing a specific effect or as an outcome resulting from a particular context.
Originality/value
This paper is the first of its nature, structuring the existing ER research and proposing a research agenda on ER with seven concrete research avenues and their research questions. Based on the systematic literature review, the authors develop a framework consolidating the interrelations of the different levels.
Acting beyond concepts
(2022)
There is a lack of understanding about early-stage entrepreneurial actions, as existing research focuses on later stages and overlooks how experience impacts entrepreneurial actions. However, entrepreneurial experience has a pivotal role in shaping entrepreneurial actions, serving as a distinguishing factor within the scope of this study. Therefore, we employ a grounded theory research approach building on 112 in-depth interviews in which we differentiate between novice and experienced entrepreneurs. We analyzed the extensive data set following the methodology of Gioia et al. Our findings include the identification of three dimensions of entrepreneurial activities, namely Entrepreneurial Alignment, Resource Enhancement, and Value Generation, that are relevant for both novice and experienced entrepreneurs. In addition, we are able to identify 27 specific entrepreneurial actions distributed between the three dimensions but differing depending on whether the entrepreneur is a novice or experienced. Examining these results, we outlined differences and commonalities in the activities of the two groups: novice entrepreneurs follow a sequential, unconnected, and perfectionist-driven process, while experienced entrepreneurs adopt a parallel, interconnected, and iterative process across the three dimensions. Practitioners and researchers can benefit from the study’s results for entrepreneurship education and resource theories in the early-stage venture creation.
“What is your best price?”
(2023)
Much attention has been devoted to the “first offer” in negotiation research. Rightly so, as strong empirical evidence shows that the first offer has a significant impact on the negotiated outcome and, therefore, is a highly relevant topic for negotiation scholars and practitioners. Scholars typically recommend making the first offer. However, in the field, we have observed an alternative opening tactic—asking for the best price that the counterpart is willing to accept. This question represents a real alternative to making the first offer by initiating the discussion of specific settlement proposals, provided the counterpart answers the query. Does it, however, lead the other side to make a better offer? How does the question impact the economic and relational outcomes of the negotiation? Is it advisable to use this tactic in negotiations? We investigated these questions based on a controlled laboratory experiment, in which 227 dyads of cellphone buyers and sellers negotiated synchronously via a text chat. We found that the best-price question has an impact on not only the first offer but also the negotiation outcome. When the buyers in our experiment asked the question, the results were not significantly different than those from negotiations in which they made the first offer. This effect was driven by the first offer in response to the question. Additionally, we found that the best-price question did not negatively impact the relational outcome. Moreover, the effect was reduced when list price information was available. These findings suggest rethinking the traditional view of the offer-counteroffer sequence and provide an alternative opening tactic to making the first offer in the context of high information asymmetry.
First, we suggest and discuss second-order versions of properties for solutions for TU games used to characterize the Banzhaf value, in particular, of standardness for two-player games, of the dummy player property, and of 2-efficiency. Then, we provide a number of characterizations of the Banzhaf value invoking the following properties: (i) [second-order standardness for two-player games or the second-order dummy player property] and 2-efficiency, (ii) standardness for one-player games, standardness for two-player games, and second-order 2-efficiency, (iii) standardness for one-player games, [second-order standardness for two-player games or the second-order dummy player property], and second-order 2-efficiency. These characterizations also work within the classes of simple games, of superadditive games, and of simple superadditive games.
Global plastics governance
(2023)
Despite being an alarming and widespread environmental issue, plastic pollution is still lacking an adequate response from the international community. The interconnection between (upstream) human activities and (downstream) environmental consequences has recently been recognized as a crucial element to consider for the prevention and minimization of plastic pollution. Production, consumption, and waste management have only recently begun to come into focus. Moreover, plastic pollution has long been framed as a marine issue. Over the last years, the role played by other ecosystems, such as freshwater ones, was widely underestimated. In this paper, we propose to analyze and discuss the relevant international legal framework from the perspective of the plastic life cycle. For each one of its stages – production and manufacturing, consumption, waste management and plastic pollution, we highlight opportunities and challenges offered by existing legal instruments. Then, in line with the efforts of the United Nations Environment Assembly (UNEA), we identify key aspects that could be covered by the upcoming ‘plastic treaty’. With a view to strengthening global plastics governance, we argue that the amendment of the legal instruments already in force will be as crucial as the adoption of a new international binding agreement.
This paper seeks to explore innovation in new work practices in the context of the current COVID-19 pandemic and identify which indicators of same lead to workplace attractiveness. From a socio-demographic perspective, service industry employees constituted the focus of this study. The study employed a two-step mixed-methods approach. First, the qualitative component deduced a data structure of innovative new work practices by conducting 21 semi-structured interviews with top- and middle-level managers. Second, hypotheses were formulated based on the qualitative data, and a quantitative survey with 155 employees was used to test the effectiveness and attractiveness of innovative new work practices using psychological empowerment as a mediator. The data structure was conceptualised according to three dimensions: (i) innovating approaches to new work, (ii) innovating leadership attitudes, and (iii) innovating organisational culture. The results of the quantitative study suggest that the innovation in leadership attitude and in organisational culture have a strong influence on psychological empowerment, thereby positively influencing workplace attractiveness. This article contributes to a uniform understanding of innovative work practices in the context of the COVID-19 pandemic. Through empirical testing, the article highlights specific indicators of innovation in work that lead to increased workplace attractiveness. Service organisations during such crises as pandemics can concentrate on the three dimensions and the specific indicators to implement innovative work measures while increasing workplace attractiveness for their employees.
Effects of mental accounting on purchase decision processes: A systematic review and research agenda
(2023)
This paper aims to systematically analyze and synthesize the existing research published on mental accounting and purchase decision processes by conducting a systematic literature review. Specifically, the paper aims to answer the question: "What are the effects of mental accounting on purchase decision processes?" Therefore, it identified 110 papers which contribute to achieving the research objective and which were selected using the same data collection, data analysis, and quality standards. After reviewing the identified publications, the paper finds that the existing literature can be structured along four main themes impacting purchase decision-making processes: (1) source of funds, (2) intended use of funds, (3) pricing, and (4) payments. The paper shows that for each of the four themes there are multiple mental accounting effects with an impact on for example willingness to pay, the experienced pain of paying or the ultimate purchase decision. Further, the paper identifies potential directions for future research in mental accounting, including the influence of product categories on mental accounting, flexibility in budget setting and its impact on mental accounting behavior, long-term effects of mental budgeting on financial wealth, integration-segregation behavior in the context of pricing, the role of consumer characteristics on mental accounting behavior, and the impact of increased financial transparency through technology on mental accounting.
Digital Transformation (DT) has become a challenge and opportunity for firms competing in dynamic and volatile markets. Especially small and medium sized enterprises (SMEs) face difficulties within the digitalization process based on their limited resources and capabilities. It is essential to understand which factors influence this process to enable the success of DT in SMEs. However, there is fragmented research on DT in SMEs. To close this gap this paper aims to identify and categorize the influencing factors of DT in SMEs by building on the Attention Based View (ABV). Therefore, a systematic literature review was conducted with a total of 75 papers published from January 2012 to January 2022. 354 factors were identified. With the help of Gioia-Method a taxonomy was created. The main finding of the research is a taxonomy, which consist of three main categories and 17 sub-categories, which organize the factors identified from the sample. The taxonomy answers the calls in research for a comprehensive and tangible picture on the influencing factors of DT in SME independent from disciplines or industries. For practitioners the taxonomy allows to understand and approach what specific factors influence their digital transformation journey and where to put attention.