從企業績效來看，在需持續創新、風險與產業技術複雜性較高的電子業，家族企業若聘用專業經理人經營，企業績效較差，反之，在產業技術變化性與風險較低的傳統產業，家族企業聘用專業經理人經營，反而企業績效較佳，這顯示，在面臨高度風險的環境時，家族企業中經營權與所有權的分離才會導致代理問題。同樣地，在電子業中，家族企業的控制權與所有權分離程度越高，企業績效越差，反之，在傳統產業中，家族企業控制權與所有權分離程度越高，企業績效反而越佳。這個結果顯示，在需持續創新、風險與產業技術複雜性較高的產業中，家族企業必須同時面臨兩種代理問題。 從企業對創新這類風險性投資的策略來看，本論文的研究結果顯示，經營權與所有權合一，企業所有者有能力及意願監督經營者，這將有助於企業投入較多的創新。反之，在控制權與所有權分離的情況下，因為投資的大部分是其他人的錢，企業的最終控制者能將創新的風險分散給外部股東，而較有意願投入創新。而家族控制者本身，因其規避風險的特質，而對上述兩類對創新有正向影響的治理機制有負向的調節效果（moderate）。但對家族成員而言，創新有助於企業的長期競爭優勢為了家族的永續發展，在經營企業上應該會採取長遠觀點（long-term perspective），而有意願投入創新，為了解開這個難題，本研究進一步將創新分為利用型創新（exploitative innovation）及開創型創新（explorative innovation）兩類，分析結果發現，家族企業雖然投入創新的數目較少，但在比例上有較多是較開創的創新，這個結果顯示，家族企業雖然害怕風險，但相對於非家族企業仍較具有長期經營的觀點並較具開創性。 / This dissertation concerns the effects of different governance structures on firms’ performance and innovativeness in business groups. In the first study, the ambivalent needs of control and growth of family firms in business group are explored. This study finds that in general, the excess control rights and controlling shareholdings will increase firms’ performance. In addition, family firms with such control structures will perform better in non-electronic industry while worse in electronic industry. Lastly, active control, namely family members control management and chairman at the same time, will perform better in electronic industry while worse in non-electronic industry. The second study focuses on comparing family and non-family group affiliated firms’ incentives to do innovations in different governance structures. Adopting behavior agent model, we propose that although family group affiliated firms are less innovativeness than non-family group affiliated firms in general, they have larger share of exploratory innovation than non-family firms. The empirical results support our hypotheses. However, in contrast to traditional agency perspective, the separations between ownership and control rights facilitate firms’ innovativeness. This finding may originate in pyramid ownership structure.

Strategy involvement of boards in small and medium-sized businesses has not been given adequate focus in contemporary research. The main concern has been on exploring the phenomenon in large corporations, which means that the field remains fairly unexplored. The purpose of this study is two folded. Firstly we want to understand what obstacles boards of small and medium-sized businesses face for strategy involvement. Secondly we want to generate new insights and knowledge about how these obstacles can be tackled. In order to accomplish these goals we assume the following two research questions: Research Question 1: Are there any obstacles in the way for strategy involvement of boards in small and medium-sized businesses? Research Question 2: What solutions are there to overcome these obstacles for strategy involvement of boards in small and medium-sized businesses? The first question aims to explore and map potential obstacles for strategy involvement, whereas the second question addresses potential solutions. By utilizing a qualitative approach and interviews we want to better understand the context. Our goal of using this method was to reveal motives and opinions to get a better understanding of how small and medium-sized businesses deal with strategy issues. The participants held various positions within small and medium-sized businesses in Sweden. CEOs, directors and busy directors participated in semi-structured interviews. This study is based upon two frameworks. Firstly we constructed an obstacle framework consisting of five obstacles derived from existing literature. Secondly we made a solution framework, which includes potential solutions connected to the obstacles, also derived from contemporary research. These two frameworks were then used to see what opinions our participants held about them. The data were analyzed by performing a thematic analysis. The idea of using this technique was to identify themes participants held in common. We found some patterns among the respondents which led us to revise both of the frameworks. The main finding of this study is that the presence of a board role conflict seems to be very limited in the context of small and medium-sized businesses. We furthermore found that there are differences in how to solve obstacles in regards to firm size. Two of the suggested solution in existing literature was found to be irrelevant for small and medium-sized businesses. Namely that it is not necessary to get CEOs to embrace strategy involvement, and stopping CEOs from handing over deceiving information is not solved by changing incentives. We also found patterns of two new solutions which were added in the revised solution framework. The first solution involves having regular strategy sessions and meetings. The second solution suggests that it can be advantageous to replace directors uncommitted to strategizing.

International Business research overwhelmingly tends to focus on firms that are perceived as rising international stars. This study, on the other hand, is motivated by the desire to examine other types of business organizations as they navigate the globalization process. In particular, a holistic view of family business groups (FBGs) and mainstream internationalization models governed by the concept of firm-specific advantages (FSAs) are con­fronted with the empirical findings of actual business expansion via personal connections. This serves as the conceptual framework of the study when investigating the nature of competitiveness of FBGs. Thailand is chosen as the research setting because of its both distinct and relevant economic and cultural background. The analysis begins by quantitatively exploring the population of the 139 largest Thai FBGs. Then, more fine­grained explanations are developed as a series of comparative case studies are carried out. Overall, the findings shed light on the study of emerging multinational corporations (EMNCs) in general by detailing and probing the evolution of Thai FBGs. Focus is on the internationalization process(es) and the subsequent need for organiza­tional adjustments; the latter involving imposing a measure of discipline on family affairs as well as modernizing business operations. This adds to the hitherto established notion of latecoming EMNCs simply scaling the techno­logical ladder. In essence, the tension between the "easy" path of relying on connections (i.e., what here is termed "the bamboo network") and the more "difficult" path of building competitiveness (i.e., going beyond the bamboo network) is exposed and explained. This study thus contributes to our understanding of the firm internationalization process. / Diss. Stockholm : Handelshögskolan i Stockholm, 2011

Submitted by Rodrigo Pastor Faceiro Lima (limarpf@hotmail.com) on 2016-12-13T12:30:18Z No. of bitstreams: 1 Dissertação_MEX2015_Rodrigo Pastor Lima.pdf: 2865830 bytes, checksum: f57e0f28c7850f7b99610f40f530ef29 (MD5) / Approved for entry into archive by Janete de Oliveira Feitosa (janete.feitosa@fgv.br) on 2016-12-13T18:43:47Z (GMT) No. of bitstreams: 1 Dissertação_MEX2015_Rodrigo Pastor Lima.pdf: 2865830 bytes, checksum: f57e0f28c7850f7b99610f40f530ef29 (MD5) / Made available in DSpace on 2016-12-26T12:30:24Z (GMT). No. of bitstreams: 1 Dissertação_MEX2015_Rodrigo Pastor Lima.pdf: 2865830 bytes, checksum: f57e0f28c7850f7b99610f40f530ef29 (MD5) Previous issue date: 2016-11-16 / A longevidade e sucessão em uma empresa familiar é um desafio a todas as famílias empresárias. São poucas as empresas familiares que alcançam a 3ª geração. O objetivo deste trabalho é apresentar um estudo de caso para ensino com foco em estratégia, cultura e gestão de empresa familiar a fim de identificar elementos que permitam a longevidade empresarial. O estudo de caso teve por objeto o Grupo Gerdau que, com mais de 100 anos de existência, é administrado atualmente pela 5ª geração familiar. Nesta trajetória o Grupo Gerdau cresceu internacionalmente e hoje é o segundo grupo siderúrgico das Américas. A utilização deste estudo de caso para ensino permitirá ao docente abordar os referenciais teóricos de estratégia, cultura e conectá-los com a teoria de gestão de empresa familiar. / The longevity and succession in a family business is a challenge for every entrepreneurial family. Few family businesses are able to reach their 3rd family generation. The objective of this work is to present a case study for learning, with focus on strategy, culture and family business management. The case study was based on Gerdau Group, which exists for more than 100 years and currently is managed by their 5th generation. Gerdau Group has grown into a multinational company and is, today, the 2nd largest steel producer in the Americas. The case study could be used to address the theoretical frameworks of strategy, culture and connect them with the family business theory.

This thesis if focused on the application of methods of robust econometrics to real economic data. We focuse on the issuies of international trade in Czech Republic and the problem of employment and growth of small businesses in Europe. We also focues on estimation of panel data by classical approaches (least squares, fixed effects, GMM) and bzy robust techniques. The first part of dissertation focuses on analyzing determinants of FDI in Czech manufacturing industry. The aim is to estimate a model where the stock of FDI is expressed as a function of several economic factors (K/L, profit per worker, R&D, Balassa index and others). We estimate these models by OLS, fixed effects and GMM. With regard to ambiguous results we used least trimmed squares as a diagnostic tool for detection of outliers. Elimination of two polluting industries out of the data set brings certain improvement in significance of some factors. The second part of dissertation we focus on an estimation of models of employment and net production in 28 European countries for small businesses as a function of economic and institutional variables by special technique of estimation. We describe robust version of within group fixed effects estimation. The aim of paper is to estimate a set of models and to test the properties of estimator. With...

Benefits of this thesis are comprehensive mapping of the current situation in the selected family business and creation of consequent proposals for those human resources activities, where improvement, modification, specification or variation would be suitable. Especially after generational change in family business, proposals of this thesis can become a topic for further consideration and basis for the successor activity in the area of human resources management.

The evolving nature of the Korean 'chaebol' - both a business group and the founding family who control the corporation - continues to intrigue scholars of corporate governance (Khanna and Yafeh, JEL 2007). In my thesis, I investigate these multi-generational controlling families to explain the chaebol's significance in the historical evolution of South Korea's political economy during the 20th century. My research first describes the origins of chaebol entrepreneurs and details their role in the growth of light industry before the the rise of state-led industrialisation during the social revolution of the 1960s in South Korea. I then consider the specific institutional features which appear to work against family control, even though they would ultimately support its proliferation: 1) progressive politics; 2) inheritance tax; and 3) ownership dispersion. Notably, my analysis of these distinctive institutions provides a clearer understanding of the contemporary behavior of the chaebols and their ability to maintain family control over many decades of growth. In order to better understand the role of controlling families, during the state-led industrialisation period (1961-1988), I analyse their corporate networks and their ability to wield political power. To do so, I employ an unconventional source of evidence: a database of marriages among chaebol families. This research is theoretically grounded in the contact capabilities hypothesis advanced by Amsden (1989) and Guillén (2001a, 2001b with Kock). My scholarly approach complements parallel research on human networks within the state. My findings have implications for: 1) the epochal nature of chaebol-political networks; and 2) the market reaction to such network events, thus demonstrating the economic significance of these informal networks. In my last chapter on the post-1998 era of financial liberalisation, I explore the evolution of the ownership structure within the business group as it relates to policy history. I do this through an analysis of The Holding Company Act of 1999, and show how the controlling families in South Korea found novel ways to use the Act to support their family ownership and corporate control in spite of the original intentions of the regulators. As I show, share buyback programmes, first popularized in Anglo-American financial markets, were crucial to the maintenance of chaebol. As it turns out, liberal policies, imported from the West, proved no more able to limit family capitalism in South Korea than domestic policy had been during the preceding state-led industrialisation era. Nonetheless, activist investor has a special role to play.

A transição de modelo de gestão numa empresa é uma tarefa complexa, que envolve um conjunto de variáveis, muitas vezes dispersas, dentre elas as imprevisíveis, ou seja, aquelas que atravessam a execução do planejado. Nas empresas familiares, o imprevisível pode ser marcado pela dimensão afetiva, que está entrelaçado à gestão e a família. A presente pesquisa de doutorado teve como objetivo acompanhar e sistematizar um processo de mudança de um modelo centralizado de gestão de Recursos Humanos (RH) para um modelo distribuído e consultivo, numa empresa familiar de médio porte em Pernambuco, acolhendo a dimensão afetiva como potência transformativa, por meio da criação de práticas cotidianas provenientes da própria cultura organizacional familiar, para construção do novo modelo de funcionamento da área de RH. Na tentativa de sistematizar esse processo, uma questão norteadora do estudo foi construída: Como a psicologia conectaria elementos constitutivos de outros territórios teóricos e metodológicos, para propor uma clínica da gestão, que acolhesse e cuidasse da dimensão afetiva na transição de tais modelos? . Adotou-se uma estratégia múltipla quanto ao referencial teórico, por meio da ergologia, esquizoanálise e psicossociologia a partir do enfoque metodológico da cartografia de Deleuze e Guattari (1995), Barros e Kastrup (2009) e Rolnick (2011) em que intervir é acompanhar processos de produção de subjetividade. A intervenção foi realizada numa empresa familiar, com sede em Olinda-PE e atuação no comércio de consumo de alimentos prontos. Participaram da pesquisa, gestores de loja, diretores, psicólogas, gestora de RH e trabalhadores que se revezaram em momentos distintos da pesquisa, dividida em quatro movimentos: exploratória, aprofundada, ação e avaliação. Como modo de construção do novo modelo, optou-se na primeira fase exploratória - por uma análise documental do Manual de Integração (MI) dos novos funcionários e a escuta dos diretores, psicólogas, gestores de loja e gerente de RH através de conversas reflexivas para montagem do diagnóstico. Ainda nesta fase, os trabalhadores foram escutados através dos seus comentários, descritos no documento pesquisa de clima organizacional, realizada pelo setor de RH antes da nossa pesquisa. Nas demais fases, adotamos o uso de dispositivos diversos, para acessar as experiências dos participantes. Também foi utilizado o Diário de Campo do pesquisador como registro das impressões, observações e sentimentos ao participar dos dispositivos planejados: oficina temática, reuniões de esclarecimentos, supervisão e rodas de conversas. Como método para análise das produções e notas do diário de campo, utilizamos o uso de mapas mentais (Novak & Gowin, 1996), construídos por meio dos aplicativos online GOCONQR e remoto CMAPTOOLS, produzindo uma topografia das marcas e traços que circularam no rizoma-gestão, por meio de ações transformativas. Ao final, compreendemos que a clínica da gestão, se posiciona como uma clínica do trabalho, em que suas intervenções, visam por meio de experimentações e invenções, dar passagens aos afetos implícitos e explícitos nas narrativas das empresas familiares, por meio do reconhecimento e acolhimento de tal dimensão, circunscrevendo novas práticas baseada no diálogo entre os trabalhadores, gestores e direção da empresa. / The transition management model in an enterprise is a complex task, which involves a set of variables, often scattered, among them the unpredictable, or those going through the execution of the plan. In family businesses, the unpredictable can be marked by the affective dimension, which is intertwined with the management and the family. The doctoral research this aimed to monitor and systematize a process of change from a centralized model of human resources management (HR) for a distributed and consultative model, a family-owned medium-sized in Pernambuco, welcoming the affective dimension as power Transformative through the creation of daily practices from the same family organizational culture, for construction of the new operating model of HR. In an attempt to systematize this process, a guiding question of the study was built, "How psychology would connect the components of other theoretical and methodological territories, to propose clinical management, which acolhesse and take care of the affective dimension in the transition of such models? " . Adopted a multiple strategy as the theoretical framework, through ergology, schizoanalysis and social psychology from the methodological approach of mapping Deleuze and Guattari (1995), Barros and Kastrup (2009) and Rolnick (2011) in which to intervene is to follow subjectivity production processes. The intervention was carried out in a family business, established in Olinda -PE and activities in the trade of consumer ready food. Participated in the survey, store managers, directors, psychologists, HR management and workers who took turns at different moments of research, divided into four movements: exploratory, depth, action and evaluation. As the new model building mode, we were chosen in the first phase - exploratory - by a documentary analysis of the Handbook on Integration (MI) of new employees and listening directors, psychologists, store managers and HR manager through reflective conversations mounting diagnosis. Even at this stage, the workers were heard through their comments, described the organizational climate survey document held by the HR sector before our research. In the other phases, we have adopted the use of " devices " number to access the experiences of the participants. It was also used the " Field Diary " the researcher as a record of impressions, observations and feelings to participate in the " devices" planned: thematic workshop, clarification meetings, supervision and whells conversations. As a method for analysis of production and diary notes field, we use of mind maps (Novak & Gowin, 1996), built through online applications and remote GOCONQR anda CMAPTOOLS, producing a topography of brands and traits that circulated in rhizome-management through transformative actions. At the end, we understand that clinical mamagement, is positioned as a clinical work, where their activities are aimed at through experiments and inventions, giving passages to implicit and explicit affections in the narrative os Family businesses, through recognition and acceptance of such size, circumscribing new practices based on dialogue between workers, managers and company management.

Theoretical background indicates that ownership structure and the type of management can influence performance of companies. According to the typology model of Westhead and Howorth (2007), we analyzed the relationship between management control and ownership structure in the performance of the family owned hotels. The data was collected from surveys applied to managers and owners. We surveyed 92.51% of accommodation options in Costa Esmeralda, Santa Catarina / Brazil. In addition to calculate average scores, a factor analysis was also conducted. Results were classified into five types of family owned businesses. We identified a greater use of objective performance indicators in businesses hiring managers, showing positive financial indicators in this type of business. Subjective indicators related to the hotel industry, from the model of Haber and Reichel (2005), proved to be useful to explain performance. Reaching income goals and maintaining financial health had the highest average in the sample; as well as achieving visitor satisfaction and developing a good reputation, which were the most prioritized goals of the companies surveyed. This work contributes to the research on the classification and organizational analysis of family businesses, and the development of performance indicators in the hotel industry. / Los antecedentes teóricos indican que la estructura de la propiedad y el tipo de gestión pueden influir en el rendimiento de las empresas. Según el modelo tipológico de Westhead y Howorth (2007), se analizó la relación entre el control y la estructura de la propiedad en el desempeño de las empresas hoteleras familiares. Se obtuvo información de los cuestionarios aplicados a los administradores y propietarios. Se encuestó al 92.51% de alojamientos en la Costa Esmeralda, Santa Catarina / Brasil. Además del cálculo de promedios también se utilizó un análisis factorial. Los resultados se clasificaron en cinco tipos de negocios hoteleros familiares y se identificó un mayor uso de los indicadores de desempeño objetivos en las empresas que contratan administradores, demostrando una relación positiva entre los indicadores financieros en este tipo de empresas. Los indicadores subjetivos específicos al sector hostelero, según el modelo de Haber y Reichel (2005), demostraron ser útiles para entender el rendimiento. Los indicadores para alcanzar los objetivos de ingresos y mantener la salud financiera alcanzada tuvieron el promedio más alto en la muestra; del mismo modo, la satisfacción de los usuarios y la creación de una buena reputación fueron las metas más priorizados por las empresas encuestadas. Este trabajo contribuye a la investigación sobre la clasificación y el análisis organizacional de las empresas familiares, eldesarrollo de indicadores de desempeño en las organizaciones del sector hotelero y de servicio. / Antecedentes teóricos apontam que a estrutura de propriedade e tipo de gestão podem influenciar no desempenho das empresas. Baseados no modelo tipológico de Westhead e Howorth (2007), foi analisada a relação do controle de gestão eestrutura de propriedade no desempenho de empresas hoteleiras familiares. Os dados foram obtidos a partir de questionários aplicados a gestores e proprietários. Foram pesquisados 92,51% dos meios de hospedagem da Costa Esmeralda, Santa Catarina/Brasil. Além do cálculo de médias também foi utilizada a análise fatorial. Como resultados foram classificados cinco diferentes tipos de empreendimentos hoteleiros familiares e identificado maior uso de indicadores de desempenho objetivos nas empresas que contratam gestores, constatando-se uma relação positiva entre os indicadores financeiros dessestipos de empresas. Indicadores subjetivos específicos do setor hoteleiro, do modelo de Haber e Reichel (2005), mostraramse úteis para explicar a performance; atingir metas de lucro e manter a saúde financeira conquistada foram os com maior média na amostra, da mesma forma o sucesso em satisfazer o consumidor e em criar reputação positiva foram os mais priorizados pelas empresas pesquisadas. Este trabalho contribui para as pesquisas sobre classificação e análise organizacional de empresas familiares, construção de indicadores de desempenho das organizações do setor hoteleiro e serviços.

A sucessão na empresa familiar tem sido considerada por seus estudiosos como o mais importante desafio a ser enfrentado por aquelas companhias na luta por sua perpetuação. Os processos de transição do controle da família enfrentam várias dificuldades típicas de qualquer transição gerencial ou de propriedade na firma, mas são complicados por fatores subjetivos presentes na interação das dinâmicas empresarial e familiar. Nas sucessões familiares os conflitos emergem, frequentemente, da indiscriminação entre os papéis sociais na família e na empresa. Tais conflitos envolvem questões ligadas à propriedade do negócio, à sua administração e aos interesses da família. A Nova Economia das Instituições adicionou ao corpo teórico das finanças corporativas uma série de variáveis comportamentais desconsideradas pela Economia Neoclássica com o objetivo de imprimir maior realismo às análises teóricas. O presente trabalho investiga as proposições da Teoria Econômica de Finanças para o comportamento dos administradores quanto à escolha da Estrutura de Capital na firma e sua utilidade para os Processos Sucessórios como elemento atenuante de conflitos. As conclusões apontam para uma interdependência entre decisões de Estrutura de Capital e Processo Sucessório, e para uma grande importância da forma de financiamento no longo prazo para o sucesso da Sucessão na Empresa Familiar, além de sugerirem pesquisas mais avançadas no sentido de compreender melhor esse contexto. / Experts consider the process of succession in the family business as the most important challenge in their fight for perpetuation. The transition processes encounter various difficulties common to managerial transitions, yet they are made more complicated due to subjective factors present in both the family and management arenas. During succession processes, conflicts often arise out of a difficulty to differentiate between social and business roles in the family. Such conflicts involve issues such as ownership, management styles and family interests. The New Institutional Economics added a series of behavior variables to the theoretical body of corporate finance. Such variables, previously not considered by the Neoclassic Economics, were added so as to bring a higher level of realism to the theoretical analysis. This dissertation investigates the propositions put forward by the Economic Theory of Finance regarding the behavior of managers as far as their choice of Capital Structure for the business and its validity as conflict attenuation in the process of Succession. The conclusions put forward here point toward an interdependency between decisions regarding Capital Structure and Succession in the Family Business. In addition to that, they highlight the importance of long term financing for a successful process, and suggest further investigation that could support and illustrate the conclusions.