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Purpose: Motivated by the growing interest of governance regulators and researchers on internal audit function (IAF), this study examines the influence of family ownership on the levels of investment in IAF. Design/methodology/approach: A sample of Malaysian listed companies for the period 2009 to 2016 is used. To test our hypothesis, the authors use pooled panel data regression based on two-way cluster-robust standard errors (firm and year). Findings: The findings show that family ownership is negatively related to investment in IAF; in particular, investment in IAF is lower for family companies than non-family companies. Originality/value: This study contributes to existing knowledge of IAF, and it provides significant insights for regulators and managers into the variation in governance structures between family and non-family companies, particularly in emerging markets in which substantial family ownership is common. [ABSTRACT FROM AUTHOR]

Copyright of Anales de Derecho is the property of Servicio de Publicaciones de la Universidad de Murcia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Authority delegation is a process where managers allocate their authority to the subordinates who do the report for them. Authority delegation is a process of work distribution of company associates, so that they could work in accordance with their duties and be able to do the tasks effectively and efficiently. Authority delegation is executed as an effort to improve the performance of employees of a family company, UD Sahabat. The purpose of this study was to analyse the application of authority delegation in the company. This study used qualitative methods with descriptive techniques by collecting data through semi-structured interviews using the triangulation method of data sources. The participants in this study were four informants, which included company owners, company employees, professionals and HR experts. The results show that the company has 2 ways to apply delegation to its employees. First, directly: the owner of the company gives verbal authority and then instructs to immediately implement it and if there are some things that are not understood, the employee asks the company owner. Employees said that when they first worked for the company, they were only told to serve the buyers well; no special delegation was given. Second, indirectly: the delegation is given in writing and is usually applied to employees of the delivery of goods. [ABSTRACT FROM AUTHOR]

Copyright of RAIMED: Revista de Administração IMED is the property of RAIMED: Revista de Administracao IMED and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Family businesses are identified in many instances as small-scale entities. However, among family businesse, there are many huge corporations, and many of the world's best-known brands are classified as being family orientated. They generate large revenues, which play a very important role in the global economy. In Poland, several examples of well-known brands belonging to families can be found, such as Mokate, Comarch and Farmacol. The aim of the article is to present selected large Polish family businesses against the background of some of the largest family businesses globally and to determine the difference between them. The research followed an empirical approach and is based on the analysis of secondary data sources, such as Ernst & Young Family Business Yearbook report series from 2015-2017, the Global Family Business Index ranking, and studies on Polish family businesses. The analyses confirmed that many of the global largest enterprises are indeed family businesses. The importance of family businesses in the economy is evident by the fact that in 2015, enterprises from the Global Family Business Index generated revenues higher than the GDP of most countries in the world. None of the large Polish family businesses have yet found their place in the analysed ranking, but also, in Poland, family businesses play a significant role, and some of them generate revenues of several billion dollars. Familism does not prevent enterprises from achieving a significant position in the market the largest family businesses in the world play such a strong role that their success or failure may affect the condition of the entire economy. Polish family businesses are not yet included in this group, but they are constantly growing. It can, therefore, be anticipated that in a few years, Polish family businesses will have a good representation in the Global Family Business Index and will help to ensure sustainable development of the Polish economy. [ABSTRACT FROM AUTHOR]

In this paper I propose to show a problem that at first sight seems clear, and thus “non-scientific”; however, after a closer look at the source material, it proves to be an important factor for contemporary entrepreneurs conducting business activities. The scientific issue is encapsulated in a concise statement: the company as a value for the entrepreneur. In order to develop the presented thesis, one must point to the fact that a company that has been established by an entrepreneur has a particular value for him, both in the material sense (its valuation on the market), and in an immaterial sense (as a symbolic value). It seems that the symbolic value greatly exceeds the material value, if we consider the entrepreneur’s perspective. Analysis of the value of a company throughout the research allows us to perceive it as the actual fulfillment of an entrepreneur’s life plans, as a workplace and a family value (frequently called the family gem). The enterprise, which is at the same time a brand, is very often the entrepreneur’s brand certificate. The social involvement of the entrepreneur and the formation of an integrated, loyal team of employees are also values in themselves. Considering the non-material value, the enterprise allows the entrepreneur and the employees to meet their needs of self-realization and appreciation. The paper was prepared based on an analysis of answers entrepreneurs gave to specialist periodicals and popular dailies. In addition, I have used my own research, conducted in 2017, among entrepreneurs who represent the small and medium enterprise sector located in towns and villages. [ABSTRACT FROM AUTHOR]

The paper proposes a systematization of the key success factors of projects, through the theoretical review of family-owned companies operating in the EU market. It is the small and medium companies that in their own way contribute to the overall success of the national economy in terms of economic activity, increased employment, development activities and defining better business environment. The theoretical review observed numerous studies of family businesses, and the contribution of this work is in the systematization of the results of previous research - over three horizons, i.e., over the role of managers in the creation of successful projects (or owner if it is a family enterprise), institutional support for companies in Serbia and the EU, specific industries and the parent (regional) markets where a family company operates. Project management, as a general representation of the concept of implementation of strategic and operational endeavors, contains many specifics in terms of critical success factors of projects depending on the environment in which they are implemented. The goal of the paper is reflected in the identification and presentation of critical success factors of projects implemented in family companies. The paper concludes with a discussion of the research results in relation to the existing, similar research studies, as well as with the announcement of future research, which will examine the conclusions drawn on a real sample. [ABSTRACT FROM AUTHOR]

Purpose of the article: The purpose of the paper is to define the point of family company's success. The object of research is family business as an economical phenomenon. There is a double subject of this study: firstly, to find out the main resources, from which information about successful companies can be detected and, secondly, to analyze one big family company as case study for identification its key success factors. Methodology/methods: The article was prepared on the basis of general theoretical scientific methods, in particular analysis, synthesis, analogy, comparison, generalizations, deduction and methods of expert estimates. In the first phase secondary research of scientific literature and electronic resources about the paper topic was conducted. On the base of that result, the primary research was conduct, which is based on analysis of family company E. & J. Gallo Winery. Based on the received information, the key success factors were identified. The sources of the research are internet web-pages of the company, articles about company in famous Czech business magazines and scientific journals form Emerald database, reports of company and financial data from Amadeus database and The Global Family Business Index. Scientific aim: The aim of scientific research is to improve the understanding of family company's success from the perspective of difficulties faced by family company. Findings: The results of this study allowed the finding of a main point for the family company's success based on review of key sources about successful family companies. In addition, activity of E. & J. Gallo Winery was analyzed as the case study for critical evidence that phenomenon. Conclusions: This study has contributed to the theoretical body of family business research providing an important first step to gaining insights into the family company's success and its key factors which influence effective functioning of family company. [ABSTRACT FROM AUTHOR]

Copyright of Studies of Socio-Economics & Humanities / Socioekonomické a Humanitní Studie is the property of College of Banking, Banking Institute and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Sosyal Bilimler Enstitüsü - Sosyal Bilimler Dergisi is the property of Karadeniz Technical University, Institute of Social Sciences and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This article presents a systems perspective on administration and psychology in the study of family owned companies. The principles of general systems theory and basic humanistic assumptions of business administration and the theoretical concepts of organizational and work psychology have been addressed. These analyses have been organized into a systematic interdisciplinary methodology to evaluate the environment of family companies and the realities of families involved in the management function. It is clearly evident that there is a pressing need to study viable ways for a joint performance evaluation between psychology and administrative functions that consider the interaction and interdependence between these disciplines. Copyright © 2015 John Wiley & Sons, Ltd. [ABSTRACT FROM AUTHOR]

Purpose: The objective of the research was an assessment of the experiences of Polish owners of family companies in organizing family meetings as mechanisms of family governance as well as evaluating the usefulness of solutions developed in this sphere for both family and company. Methodology: The character of the conducted research was qualitative. The main technique used to gather data involved interviews. A total of thirty nine respondents from twenty companies were questioned. Nineteen were representatives of the older generation while twenty represented the younger second generation of owners of family businesses. Findings: Research results indicated the rather extensive use by the examined owner families of family meetings to discuss company matters. Depending on their needs, they developed various models ranging from the ad hoc bringing up of company matters to the transformation of such meetings into formal, family meetings of the management board organized in company offices. Regardless of organizational form, family meetings were an important forum for the exchange of information and views on the functioning of the company among family members. The experiences of the examined families of owners in building family governance systems, understood as a complex of structures and mechanisms making possible the maintenance of a balance between tensions stemming from economic and emotional ties among family members, both involved in the company and outside it, remain small. Research limitations: The qualitative character of the research, including the size of the examined sample (twenty family companies represented by thirty nine representatives), means that the generalizations made for the purposes of this study refer only to the experiences and opinions of the interviewed respondents. Originality: The research performed is the first of its kind devoted to family meetings as a component of the system of family governance created in the family forum of owners of family companies. At present, questions of family governance subject to Polish conditions are not a popular research field undertaken with respect to family companies. This is dictated by the current phase of development of most domestic family ventures, where no significant diversification of stakeholders on the family level has as yet occurred. However, this should in no way suggest that Polish family businesses are not acquiring their first experiences in the sphere of family governance that, in the future, may prove useful in the forming of more complex structures. [ABSTRACT FROM AUTHOR]

Copyright of Teoria e Prática em Administração is the property of Teoria e Pratica em Administracao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Copyright of Teoria e Prática em Administração is the property of Teoria e Pratica em Administracao and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

This study, based on a comparison of the Combined Code Guidelines for non-executive directors between listed and unlisted boards, suggests that on unlisted boards non-executive directors have a greater degree of involvement in strategic development, financial monitoring, shareholder communication and overall board contribution than on listed boards, but a lesser degree of involvement in the monitoring of management, the setting of executive remuneration, the appointment and removal of executives, and succession planning. The importance of risk analysis and induction is considered high across both sectors, although board development and independence is considered less important on unlisted boards. [ABSTRACT FROM AUTHOR]

Family businesses often face significant challenges while trying to develop and increase their sustainability throughout generations. This is often due to their inability to properly manage the knowledge required to develop their resources to increase sustainability. Therefore, this study examines the relationship between processes of managing knowledge, dynamic capabilities, and innovative performance in an Indonesian family company in order to improve business performance. This is qualitative research with a single case study used to obtain data from nineparticipants in an Indonesian family company ("Ardiles") that focuses on footwear. The findings showed that a family company that mobilizes knowledge can improve its members' dynamic capabilities for proper business management and growth. Furthermore, the frequent process of mobilizing knowledge improves family members' dynamic capabilities to create new ideas. This creative process helps to improve its innovative performance, thereby creating a sustainable competitive advantage among family companies. [ABSTRACT FROM AUTHOR]

This paper presents theoretical and empirical research on the activities and attitudes of a family business owner regarding marketing as a business function. The development of successful business relationships of a family business is tightly connected with the activities of the business owner. The theoretical review examined numerous family and non-family business studies by analyzing the existing paradigms of marketing management as a whole. The empirical research, surveying 420 family businesses in Serbia, defined the overall role of the family business owner in customer relationship management regarding business-to-business (B2B) and business-to-consumer (B2C) relationships. Key findings suggest that the main difference in customer relationship management (CRM) between family and non-family companies is related to B2B relationships, which the family business owner is heavily involved in managing, in terms of invested time and responsibility. Future research should cover aspects of internationalization (to regional markets) because it is essential to cross-examine regional with local contacts of a family business owner, to provide full comprehension of the complexity of market relationships in a family business environment. [ABSTRACT FROM AUTHOR]