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In an era of "global disorder," scholars have been captivated by the question of why some organizational forms are more resilient to systemic shocks than others and what factors contribute to this heterogeneity. Drawing from organizational resilience theory and the resource-based view, Utilizing insights from organizational resilience theory and the resource-based view, we aim to add new insights to this inquiry by leveraging a unique proprietary database of listed family firms in India. We argue that family ownership and management will positively influence the stability dimension of resilience while family business group affiliated firms will find their agility curtailed and therefore may not be as resilient as the standalone family firms. Using the GLS model, we test our hypothesis against the backdrop of the Covid-19 pandemic. We assess the stability of firms by gauging the severity of various factors, including productivity loss, liquidity, financial stress, social responsibility, profitability, and employee welfare. Our results show that family-owned firms exhibit a greater level of stability in managing liquidity and coping with financial stress compared to non-family firms. Additionally, our research reveals that family-managed enterprises also experience a reduced severity in terms of expenditure on employee welfare. On the other hand, business group affiliated firms face adverse effects on their stability. Our findings enrich the understanding of resilience in diverse organizational forms and variability in responses to a crisis within family firms. [ABSTRACT FROM AUTHOR]

Whether the religious antecedence of owning family has any influence on the performance of a family firm in a religiously diverse institutional context is an interesting yet unexplored area of research. Invoking the resource-based view and social capital theory we theorize why family owners' religious affiliation may impact firm performance and the moderating role of factors such as promoter shareholding, age, and size of the firm. Use a proprietary dataset of family firms in India, we find that firms with family owners affiliated to minority religions perform better and we also find support for the moderating hypotheses. India provides a natural setting for this study as several religions are practiced by its population and the business landscape is dominated by family firms. Our results run counter to the popular belief of dominance of majority religion in such institutional context. We conclude that micro level resources that accrue over a period due to religion based social network and religious practices are perhaps more dominant in comparison to macro level-institutional resources in impacting family firm performance. We find significant heterogeneity in performance amongst firms owned by different minority religions relative to the dominant religion adding further credence to our core thesis. [ABSTRACT FROM AUTHOR]

Entrepreneurial families often leverage internal capital and resource markets to incubate new entrepreneurial ventures in the challenging institutional environment of emerging economies. This article explores a relatively common but unexplored phenomenon of entrepreneurial financing by families in emerging economies -- share pledging. To further understand the mechanisms behind pledging and why families pledge shares, we hypothesize that the ownership and governance attributes of the family firm should impact the family owner's propensity to pledge shares owing to the family's control and risk considerations. Through a sample of 1,444 Indian family firms, we find that a family's degree of ownership in the firm, involvement in the firm's leadership, and the presence of foreign institutional investors affect the family owner's cognitive predisposition towards pledging. Our study contributes to entrepreneurship literature by exploring an alternate value-creation institutionalized mechanism in a regulatory and social context that differs considerably from the traditional Anglo-Saxon setting. [ABSTRACT FROM AUTHOR]