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Understanding chief executive officers (CEOs) is important because of their vast influence on the strategies and performance of organizations. With the growth of family business research, new insights about family firm CEOs have emerged. However, knowledge about family firm CEOs is dispersed across an array of disciplines that take different perspectives. These differences have led to an inconsistent understanding of family firm CEOs, particularly since they can be family or nonfamily members with varying levels of willingness, ability, and capability to select and implement distinctive strategies. To better understand CEOs in family firms, we reviewed 175 articles published between 1984 and 2021 using upper echelons theory to capture the relationships among CEO characteristics, strategic choices, and firm performance. Our integrative review synthesizes findings from entrepreneurship, management, finance, economics, and other disciplines to provide insights and future research directions on CEO characteristics, strategic choices, and firm performance in family firms. [ABSTRACT FROM AUTHOR]

Purpose: This conceptual, multi-voiced paper aims to collectively explore and theorize family entrepreneuring, which is a research stream dedicated to investigating the emergence and becoming of entrepreneurial phenomena in business families and family firms. Design/methodology/approach: Because of the novelty of this research stream, the authors asked 20 scholars in entrepreneurship and family business to reflect on topics, methods and issues that should be addressed to move this field forward. Findings: Authors highlight key challenges and point to new research directions for understanding family entrepreneuring in relation to issues such as agency, processualism and context. Originality/value: This study offers a compilation of multiple perspectives and leverage recent developments in the fields of entrepreneurship and family business to advance research on family entrepreneuring. [ABSTRACT FROM AUTHOR]

Family firms are typically associated with a respected system of values, yet the impact of such values on shareholder reactions remains to be understood. We examine the presence of humility rhetoric in corporate communications, characterized by language emphasizing modesty and collaboration, and its effect on shareholder reactions for both family and nonfamily firms. Analyzing 2250 shareholder letters from S&P 500 family and nonfamily firms and 1460 shareholder letters from small and medium-sized family and nonfamily firms, this study finds strong evidence supporting the positive impact of humility rhetoric on shareholder reactions for family firms. Further, interesting effects emerge when considering the influence of positive and negative media coverage. We bolster these findings with a sample of small and medium-sized family and nonfamily businesses and find consistent results. Our findings help advance the economic theory of family firms by highlighting the capital market implications of humility rhetoric in these firms and its importance in shaping positive shareholder reactions. Further, from a methodological perspective, this study introduces a measure of humility rhetoric using a computer-aided text-analysis approach, extending its applicability to broader research contexts. Plain English Summary: Family firms and nonfamily firms are evaluated differently by shareholders based on various values, one of which is the level of humility exhibited in corporate communications. Prior research has demonstrated that humility is a critical value for organizations. However, a gap remains regarding whether family firms experience more economic gains from communicating humility compared to nonfamily firms. Using samples of large and small and medium-sized family and nonfamily firms and analyzing their shareholder letters, we find that family firms benefit more from communicating humility, as they tend to elicit more positive shareholder reactions compared to nonfamily firms. Additionally, a humble communication leads to more positive returns when family firms receive negative media coverage, whereas nonfamily firms benefit more from communicating humility when media coverage is positive. The insights from this study suggest that family firms should communicate more humility in their corporate communications, especially when faced with negative news. [ABSTRACT FROM AUTHOR]

This article discusses the importance of systematic reviews in family business research and introduces a compilation of literature reviews on various topics related to family firms. The reviews cover themes such as legacy, resilience, dysfunctional behaviors, strategic change, nonfinancial outcomes, and microfoundations. The authors emphasize the need for more multilevel research in the field and highlight the reciprocal relationship between the family and the business in family-owned firms. The article suggests future research areas and emphasizes the importance of adopting a multilevel approach to gain a comprehensive understanding of family businesses. [Extracted from the article]

Despite an increasing interest in understanding the mindset of entrepreneurs, little consensus exists on what an entrepreneurial mindset (EM) is, how it is developed, or its precise outcomes. Given the fragmented nature of the multidisciplinary study of EM, we review prior work in an effort to enhance scholarly progress. To this end, we identify and review 61 publications on the topic and offer an empirically derived, integrated definition of EM. Further, we examine factors related to EM and offer specific directions for future study. Additionally, we offer broad directions for advancing the trajectory of EM research and conclude with an abbreviated review of pedagogical insights. In all, by offering a definition, reviewing the literature, and highlighting specific and broad directions for future research, we attempt to consolidate and advance what is known about an individual's EM. [ABSTRACT FROM AUTHOR]

Debate persists regarding the effects of executive pay dispersion on firm performance given that conflicting findings have plagued the literature. We aim to reconcile previous inconsistencies by taking a more nuanced approach and exploring the effects of explained and unexplained executive pay dispersion on the firm's short- and long-term performance. Using a longitudinal sample of public firms over a 12-year period, we find that unexplained pay dispersion among executives—indicating pay inequity—negatively affects short-term firm performance while explained pay dispersion—indicating pay inequality—positively affects long-term firm performance. The findings help resolve prior inconsistencies associated with understanding the relationship between executive pay dispersion and firm performance. Accordingly, we advance research by demonstrating the importance of measuring pay dispersion types and accounting for the temporal nature of firm performance. [ABSTRACT FROM AUTHOR]

Research Summary: Our study provides novel insights into how women influence SME innovation in emerging markets, despite the resource‐constrained and gender‐restrictive contexts in which they are embedded. Building from transactive memory (TM) theory and using data from 741 SMEs in 33 emerging markets, we develop and test a contextualized framework of SME innovation that considers gendered effects in ownership, workforce composition, and communication. Findings indicate that in emerging markets, female‐led SMEs employ more women than male‐led SMEs, and more women in SMEs (even at modest levels) enhance and enable the TM system to deliver more innovation outcomes. Findings also suggest that emerging‐market SMEs can be innovative through differing configurations of women in ownership and workforce composition, underscoring the importance of gendered and contextual considerations in innovation research. Managerial Summary: Innovation is vital to the social progress and economic development of emerging markets. Even though institutionalized gender bias in emerging markets tends to constrain (rather than empower) women's entrepreneurial activities, our study reveals how women can be an important source of innovation. We find that women in emerging markets are stronger together: women in ownership advocate for and support other women by employing them in their SMEs, and in turn, as women's representation increases in SMEs, women are empowered to collectively share and leverage their endowed resources for innovation. Thus, our study challenges the general perception that men are more innovative than women by revealing that the presence of women in emerging‐market SMEs yields greater innovation outcomes. [ABSTRACT FROM AUTHOR]

Prior studies find that nonfamily managers enhance family firm performance, yet other studies note that family firms have difficulty attracting high-quality nonfamily managers, often settling for average-quality nonfamily managers. Given these findings, how is it possible that average-quality nonfamily managers enhance family firm performance? We address this paradox by theorizing that lower-performing, rather than higher-performing, family firms are more likely to benefit from employing nonfamily managers. Using a sample of 324 small family firms, we find that family firms with below-average performance significantly benefit from employing nonfamily managers, whereas family firms with above-average performance do not experience the same benefit. We attribute the difference to the presence of family-management capacity constraints in lower-performing family firms. For family firms with such constraints, the employment of nonfamily managers is more beneficial than it is for higher-performing family firms, which are not bound by these constraints. [ABSTRACT FROM AUTHOR]

Innovation is essential for family firms to remain competitive. One means to enhance the success of innovation within family firms is to assess readiness prior to beginning the innovation process. This article introduces the Readiness for Innovation in Family Firms (RIFF) framework, which provides a diagnostic assessment and identifies multiple factors associated with innovation readiness. By applying the RIFF framework, managers of family firms can focus on specific factors that prepare the firm to engage in the innovation adoption process, increasing success. [ABSTRACT FROM AUTHOR]

While progress has been made in recent years to understand the differences among family firms, insights remain fragmented due, in part, to an incomplete understanding of heterogeneity and the scope of differences that exist among family firms. Given this, we offer a definition of and review the literature on family firm heterogeneity. A latent semantic analysis of 781 articles from 33 journals identified nine common themes of family firm heterogeneity. For each theme, we review scholarly progress made and highlight differences among family firms. Additionally, we offer directions for advancing the study of family firm heterogeneity. [ABSTRACT FROM AUTHOR]

We extend transactive memory systems theory from psychology to examine the cognitive interdependence of family and nonfamily employees and its effects on family firm innovation. Using triadic data and dispersion modeling, we find that innovation is enhanced when family and nonfamily employees communicate and when they have a shared understanding of "who knows what"; however, we find unexpectedly that the communication effects differ for family and nonfamily employees, hindering the development of shared knowledge perceptions needed for enhanced innovation. We demonstrate the value in applying psychology-based research to family firm investigations and in investigating microfoundations of family firm innovation. [ABSTRACT FROM AUTHOR]

Research Question/Issue: From its inception in the late 1980s and early 1990s, founder‐chief executive officer (CEO) research has garnered significant scholarly attention in the strategy and entrepreneurship disciplines, although other fields—such as economics, finance, and family business—have also generated substantial research insight on this topic. Despite this progress, a limited consensus exists on the influence of the founder CEO owing to the fragmented nature of extant research. In this review, we address this fragmentation by reviewing current literature, synthesizing the discipline‐specific findings into an integrated framework, and highlighting promising directions for future founder‐CEO research. Research Findings/Insights: Using a cross‐disciplinary review of founder‐CEO research based on 221 articles from 24 academic journals, we synthesize current research and provide directions for future research. Our framework organizes current research on the founder CEO into three broad themes. First, we review and synthesize scholarly work on factors related to the founder CEO during the nascent years of the firm. In the second theme, we review research that explores the impact of the founder CEO on strategic choices and firm configurations. In the third theme, we review the performance consequences of the founder CEO. Theoretical/Academic Implications: This review advances research on the founder CEO by taking stock of insights from various disciplines, highlighting advancements made, and suggesting promising directions for future research on founder CEOs. Additionally, a critical evaluation of current methodological approaches provides opportunities for strengthening the rigor of scholarly inquiry in this area. Practitioner/Policy Implications: This review provides corporate governance scholars and policymakers with a current, multidisciplinary summary of research findings on founder CEOs and their impact on the firm across various stages of the organizational life cycle. [ABSTRACT FROM AUTHOR]

In an increasingly digital society, educators are encouraged to use on-line technologies. However, much is left to be learned about how on-line tools influence student learning. In this manuscript, we use the community of inquiry (COI) framework to examine the contribution of one on-line tool, a wiki, to a blended-learning course. Structural modeling techniques are used to analyze data collected from students in an undergraduate business capstone course. The results suggest that teaching presence, social presence, and cognitive presence (components of the community of inquiry framework) exist in a wiki environment in a manner similar to other on-line environments. Additionally, teaching presence and social presence are shown to influence cognitive presence (e.g., learning), which reaffirms that the role of the instructor continues to be paramount to student learning in technology-enhanced environments. Given that the COI framework is a novel conceptualization recently introduced to the management education literature, we offer theoretical recommendations for researchers and practical recommendations for instructors interested in incorporating wiki technology in a blended-learning pedagogy. We believe our findings provide fresh insights on, and new possibilities for, instructional development in business education. [ABSTRACT FROM AUTHOR]

Family involvement in business creates idiosyncrasies in firm behavior that promote long‐term, often transgenerational, strategic logics that ostensibly align with the motivations and outcomes of corporate entrepreneurship. Interestingly, extant research provides only minimal insight into the heterogeneous nature of corporate entrepreneurship orientations pursued by family firms. To better understand this heterogeneity, we develop a typology of corporate entrepreneurship in family firms providing a reconciliatory approach to this literary diversity and suggest that the varied corporate entrepreneurship orientations of family firms are impacted by the duality of a family's distinct intention to pursue transgenerational succession and capabilities to acquire external knowledge. [ABSTRACT FROM AUTHOR]

The use of clickers in the classroom has been linked to student learning. However, studies that examine the effects of clickers on learning often conceptualize a clicker exercise as a single, homogeneous cognitive processing (CP) event. We offer a conceptualization of sequenced cognitive activities that unfold during a clicker exercise. An inductive approach is adopted to identify three CP events that occur during a clicker exercise: an investigation event, a confirmation event, and a ratification event. We then use data collected from a sample of 187 students in an undergraduate business capstone course to explore the relationships between the three CP events and student learning. Contrary to expectations, not all CP events contribute positively to student learning. We discuss the implications of these findings and offer directions for future research that advance the understanding of clicker‐enhanced student learning. These insights afford instructors new options for optimizing the contributions of clicker exercises to student learning in their courses. [ABSTRACT FROM AUTHOR]

The unique form of social capital among family involved in the business, or family social capital (FSC), has both positive and negative effects on the family firm. To better understand how FSC exists across family firms and advance related theory, we develop a taxonomy of FSC. Using configuration analyses on two samples of family firms, we find that three clusters of family firms exist, which include firms with Instrumental, Identifiable, and Indistinguishable FSC. The specific configurations of each cluster are noted, and effects on economic and noneconomic outcomes are identified to advance understanding of the heterogeneous nature of family firms. [ABSTRACT FROM AUTHOR]

Top management teams (TMTs) that work (not so) well together enhance (restrict) the ability of the firm to leverage capabilities, which affects outcomes such as innovation. Although internal team dynamics at this level have notable effects on the firm, much remains to be understood about how these effects occur. Therefore, we investigate TMT conflict (cognitive and affective) to understand how the firm-level knowledge capability of absorptive capacity (ACAP) is altered as a result of such types of conflict. Further, given that strategic orientations offer guiding principles for organisational behaviours, we suggest that the main effects of conflict are augmented by strategic orientations. Specifically, both entrepreneurial orientation and market orientation are posited to affect the relationship between conflict and ACAP, which expands understanding of the conditions in which TMT conflict affects ACAP. In all, a conceptual framework is developed to offer insight into how TMT conflict affects firm-level ACAP, highlighting differences that are dependent on whether team members collaborate via cognitive conflict or clash given affective conflict. [ABSTRACT FROM AUTHOR]

Ordinary capabilities contribute to firm core competencies and are prominent drivers of firm performance. However, our understanding of ordinary capabilities, and how they are leveraged to advance performance in small and medium-sized enterprises (SMEs), remains unclear. We review prior literature and introduce the Customer-Alignment-Operational (CAO) model of ordinary capabilities, which identifies three types of ordinary capabilities: customer, alignment, and operational capabilities. Using data collected from software industry SMEs, we find that CAO capabilities are configured in previously undiscovered ways to enhance firm performance. The findings advance our understanding of ordinary capability types and offer insight into how ordinary capabilities are configured to generate firm value. [ABSTRACT FROM AUTHOR]

Purpose The purpose of the study is to empirically extend and validate a measure of absorptive capacity (ACAP) and examine its role in leveraging the benefits of diversity on innovation within global virtual teams (GVTs). This study validates a multidimensional measure of ACAP for use within the GVT. GVTs are increasingly utilized in industry given their ability to bring together diverse knowledge and experience from geographically dispersed individuals.Design/methodology/approach The hypotheses of this research were tested using a field survey to collect real world knowledge about GVTs. The survey method is a research technique in which data is collected from a sample of individuals using a questionnaire.Findings Using a sample of GVT members, the authors find that ACAP significantly mediates the relationships between diversity (deep-level diversity, functional-level) and innovation.Practical implications The implications for the study of GVTs is discussed and recommendations are offered. GVTs, as investigated in this study, include members that use electronic media for some or all of their interactions and collaboration with other team members.Originality/value This study validates and operationalizes the multi-dimensional ACAP construct at the GVT level: its relationship with diversity and its influence on GVT innovation. [ABSTRACT FROM AUTHOR]

Family involvement in business creates idiosyncrasies in firm behavior that promote long-term, often transgenerational, strategic logics that ostensibly align with the motivations and outcomes of corporate entrepreneurship. Interestingly, extant research provides only minimal insight into the heterogeneous nature of corporate entrepreneurship orientations pursued by family firms. To better understand this heterogeneity, we bridge arguments within the family business literature to develop a typology of corporate entrepreneurship in family firms. Our findings provide a reconciliatory approach to this literary diversity and suggest that the varied corporate entrepreneurship orientations of family firms are impacted by the duality of a family's distinct intention to pursue transgenerational succession and the firm's unique capabilities to acquire external knowledge-calling into question the antecedents, modes, and outcomes underlying the strategic impetus of family firms to engage in corporate entrepreneurship. [ABSTRACT FROM AUTHOR]

Virtual teams are being increasingly utilised in industry given their ability to bring together diverse knowledge and experience from individuals who are not geographically proximal. Having a diversity of knowledge within virtual teams is noted to benefit innovation outcomes; however, leveraging the benefits of diversity (both deep and functional-level) is likely to require a capability to facilitate collaboration among team members. In this study, we empirically validate a measure of collaboration capability (CCAP) and examine its role in enhancing the benefits of diversity on innovation within virtual teams. Using a sample of 375 design and software engineers working in virtual teams from a high-tech firm in Silicon Valley, we find that CCAP significantly moderates the relationship between functional-level diversity and innovation, but no significant influence is found for a similar moderating influence on deep-level diversity and innovation. The implications for the study of virtual teams are discussed and recommendations are offered for organisations using virtual teams. [ABSTRACT FROM AUTHOR]

This paper aims to discuss a best practices exercise for facilitating team projects in the online classroom and enhancing the internal environment of the team-building process. The implications are particularly valuable to enhancing the effectiveness of team-based projects. The paper includes a brief overview of the significance of using team-based projects in the classroom, a description of the exercise, and a discussion of the experiences from professors currently using the activity. [ABSTRACT FROM AUTHOR]

As competition for scarce resources increases, cities are turning toward marketing strategies to attract economic and social development. Innovation is a key component of success for destination marketing organizations (DMOs), but there is a need for additional empirical and theoretical development. Findings from this research based on analysis of interviews with 12 DMO leaders illuminate the need for (1) an innovation-centered organizational culture, (2) the ability to use external stakeholders as knowledge sources, and (3) the ability to use and develop knowledge internally. An organizational capabilities perspective is used to understand these influences. The results offer managers a road map for successful innovation implementation and benefit researchers by providing clarity into the antecedents of the innovation capability with the DMO context. [ABSTRACT FROM AUTHOR]

Purpose – In family business studies, inconsistent findings exist regarding the relationship between family involvement and firm innovation. The purpose of this paper is to understand the heterogeneity of family firm innovation. Design/methodology/approach – The authors draw on governance literature and the socioemotional wealth (SEW) perspective to examine how the extent of family governance and the type of SEW objectives jointly influence innovation strategies in family firms. Findings – The authors develop a typology of family firm innovation strategies, positing that the family firm’s risk orientation, innovation goal, and knowledge diversity vary depending on the degree of family involvement in governance and the type of SEW objective. The authors propose that four family firm innovation strategies (e.g. Limited Innovators, Intended Innovators, Potential Innovators, and Active Innovators) emerge when family involvement in the dominant coalition (high or low) is contrasted with the SEW objective (restricted or extended) pursued by the family. Practical implications – Understanding how governance and SEW goals work together to influence the firm’s innovation strategies is potentially valuable for managers of family firms. The authors offer practical suggestions for how to strategically reposition the firm to pursue innovation strategies more in line with those of the Active Innovator. Originality/value – This study contributes to the family business literature by using a multi-dimensional approach to examine family firm heterogeneity. In addition, by articulating various family firm innovation strategies, the authors offer insight into the previously inconsistent findings concerning firm innovation behavior and outcomes in family business studies. [ABSTRACT FROM AUTHOR]

We use a social exchange perspective to review family firm succession literature owing to its fit with the multiphase, multistakeholder nature of the process. We searched the history of 34 journals, finding 88 published or forthcoming articles that quantitatively examined succession. We consider the primary phases of the management succession process (ground rules, successor development, and transition) and the relevant stakeholder exchanges occurring during each phase, including exchanges between incumbents and successors, within family boundaries, and across family boundaries. We contribute to the family firm succession literature by identifying how a social exchange perspective can help guide future research. [ABSTRACT FROM AUTHOR]

A majority of business schools and universities incorporate online pedagogy into curricula, yet scholars strive to understand the elements that influence student learning in these online communities. One framework that conceptualizes the elements of the online learning environment is the Community of Inquiry (CoI) framework. The CoI suggests teaching, social, and cognitive presences exist in the online learning environment; however, the framework does not fully conceptualize how individual-level motivational factors influence student learning. Using positive psychology theory, we suggest the CoI framework include psychological capital (PsyCap) to capture positive student-level motivational states. Our analysis of students in online business courses finds that PsyCap is a distinct online presence. Specifically, we find that teaching presence significantly relates to PsyCap and that PsyCap significantly relates to both social and cognitive presences within the CoI. We offer implications for researchers and instructors interested in enhancing student-level PsyCap and learning outcomes in the online learning environment. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this paper is to explore the influence of cultural assimilation - termed "transculturation" - on work ethic perceptions, thus this study examines trends in work ethic across ethnic and generational groups within the USA. Design/methodology/approach -- Following a literature review on work ethic, ethnicity, and transculturation, an analysis of variance based on 873 survey responses is presented. The sample includes undergraduate and graduate students at several public universities within the USA. Findings -- An empirical analysis supports the hypothesis that the variation of work ethic perceptions within the Millennial generation is significantly less than the variation among older generations. The authors find no significant difference in general work ethic perceptions among Millennial ethnic groups. Research limitations/implications -- While the study is conducted using a convenience sample, the demographics are closely representative of the USA labor force. The results suggest that Millennials, while a more diverse ethnic population, exhibit less variation among work ethic perceptions than earlier generational groups. Practical implications -- Understanding differences in work ethic perceptions across various ethnic groups is valuable for managers interested in designing jobs that appropriately exploit the full value of a multi-generational workforce. Originality/value -- The findings of this study offer new insights into how more recent generations, while more ethnically diverse, exhibit a convergence in perceptions of work ethic. [ABSTRACT FROM AUTHOR]

Entrepreneurial networks and family firm researchers are testing the limits of current understanding by investigating relationships in a variety of non-Western contexts. We extend Khayesi, George, and Antonakis’s model of resource accumulation to include the relational dimension of an entrepreneur’s social capital network to elaborate more fully entrepreneurial kinship network types. The propensity for moral hazard associated with each network type is explicated, and mechanisms for mitigating the cost/benefit of such dysfunctions are addressed. [ABSTRACT FROM AUTHOR]

Purpose -- The purpose of this article is to integrate organizational capabilities into the place branding process to showcase how a lead destination marketing organization (DMO) can influence a customer-based brand equity outcome. Doing so highlights the strategic, relational nature of place branding. The authors focus specifically on first -- and zero-order capabilities, integrating absorptive capacity (first-order) and an innovation capability (zero-order) into a place branding framework. We define an innovation capability within a place branding context and offer absorptive capacity as a mechanism through which DMO leaders can exploit external knowledge acquisition. Design/methodology/approach -- The paper presents a theoretical framework of the place branding process that integrates firm capabilities. A framework based on analyzing existing place branding models and integrating organizational capabilities, which find root in strategic management literature, was developed. Findings -- Findings indicate that existing frameworks address operational and customer capabilities in some manner yet largely ignore innovation capabilities. A definition of an innovation capability for place brand managers and scholars is offered, and offer absorptive capacity as means to integrate external knowledge into the DMO. Utilizing multiple levels of capabilities allows a firm to influence customer-based brand equity. Testable propositions based on the authors' framework are offered. Practical implications -- Managerial implications of integrating stakeholder capabilities into place branding include appreciating a culture of innovation within DMOs, learning from external stakeholders meaningfully and regularly and encouraging creative thinking that can produce new processes, policies or services. Originality/value -- By integrating organizational capabilities, attention is drawn to internal aspects of the place branding process the place can control directly. Capabilities dictate how an organization sees itself; learns from its stakeholders; and then integrates that knowledge into organizational, stakeholder and innovation capabilities. Therefore, capabilities are inherently internal mechanisms through which a DMO can influence place brand outcomes, which are understood here as brand equity elements. [ABSTRACT FROM AUTHOR]

The article introduces the Institutional (D)Evolution Framework (IEF) that classifies policies and practices related to sexual orientation. A recent public poll found that as of March 2013, about 49% adults support same-sex marriage as compared to 33% in 2003. A framework is offered useful for assessing various levels and types of institutions.