<p>In recent years, family firms have been stressed as important contributors to economic wealth. An increased focus from both researchers and practitioners can therefore be seen in various forms such as research institutes and conferences. Furthermore, family firms are often treated as a group of similar kind while inherent differences are played down.</p><p>From a theoretical perspective, organisations look at the behaviour of others that face similar complex situations, such as succession. Information can be found in institutional carriers who connect groups of firms. By imitating what is perceived as successful practices, family firms face the risk of employing inefficient procedures in times of succession.</p><p>The purpose of this thesis was to investigate what kind of ideas Dagens Industri as institutional carrier communicates about succession in family firms. To fulfil the purpose, data was retrieved in the form of Dagens Industri articles concerning family businesses and succession. Interpretations were based on theoretical constructs on family firms as well as institutional theory.</p><p>From our findings, it was observed that family firms differ on the basis of industry presence and ownership structure. Furthermore, importance of time and communication was stressed in Dagens Industri.</p>

Purpose - The purpose of this thesis is to describe and explain how Swedish gazelle firms, as representatives of high growth SMEs, respond to challenges in their economic and social contexts in sustaining growth. Furthermore, the purpose is to provide relevant and valuable recommendations to managers of rapidly growing companies. Finally, this thesis aims at providing suggestions for further research. Method - This research was conducted following a multiple case study research design, constituting four companies. Data derives particularly from semi-structured interviews, held with the owners/CEOs of the four case companies. Findings – Taking a combined resource-based and institution-based view, the study shows that even though the importance of commitment to social issues for SMEs increases through periods of rapid growth, the importance is still somewhat limited for the overall success of the firm. Hence, mainly focusing on the economic context is essential for the firm‘s success, albeit the social context becomes an increasingly important factor to bear in mind for runners of SMEs, particularly when it comes to future expansion. Practical implications - For owners and managers of rapidly growing SMEs, it is vital to form a profound understanding of the challenges that can emerge after a period of rapid growth as well as how to how to most adequately respond to those challenges. For this, it greatly helps if a long-term vision on how and how much to grow is developed before the firm enters its period of rapid growth. Moreover, firm owners need to have or develop significant leadership capabilities in order to deal with the increasing amount of and diversity regarding employees. Keywords - Rapid growth firms, Gazelles, Strategic management, CSR, Growth, SMEs

The study identified various value configurations, namely the value chain, value shop and value networks, that could be applicable in understanding the value adding activities within a law firm. The aim of the study was to determine whether information systems could be utilised throughout the identified activities comprising the various value configurations. In the event that information systems were used throughout these activities it was sought to determine to what extent information systems were being used in the law firm and whether, from the user’s perspective, the systems facilitated better efficiency in the workplace, increased productivity and had a positive effect on the profitability of the law firm.

This thesis adds to the literature on strategy and enterprise discourses by analysing how they are used in interviews with small-firm owner-managers. The literature describes features of strategy and enterprise discourses and their shaping by historical developments. There is much work on the operation of these two discourses at societal and large-organisation levels. Much less researched is how these discourses are used by small-firm managers or how these discourses interact in use. This work characterises a particular discourse-analytical approach to the research interview as suitable for advancing the literature. Small, young publishing firms producing business magazines in late ‘Celtic Tiger’ Ireland are argued as an apposite context. Detailed analysis of three selected interviews illustrates the relevance of enterprise and strategy discourses in the particular ways these owner-managers talk. Drawing on the notion of ideological dilemmas, this work gives an explicit account of how strategy and enterprise discourses are used and interrelated in a manner described here as a ‘dichotomous unity’. This unity depends not only on the discourses’ commonalities but also on the dilemmatic tensions between them. These tensions allow creative and subtle uses of the unified discourse. Yet these same dilemmas also constrain the discourse within the bounds marked out by them. The persistence and creativity, noted by the literature, in the use of enterprise and strategy discourses is explained by the interpretation offered here. This work also stresses the need to research these discourses as two aspects of the same phenomenon. The interview method used reveals the wholeness of a discourse that other methods might show as fractured. Discourse analysts generally recognise that people both shape, and are shaped by discourses. By explicating how strategy and enterprise discourses operate, this work adds to human agency. Small-firm managers may become more aware of the constraints otherwise implicit in enterprise-strategy discourse. Policymakers may gain an appreciation of the discursive balance that the promotion of enterprise and strategy demands of small-business managers, along with the kind of costs such balancing might entail.

Technology helps firms maintain data flow, track processes and maintain employee records. Technology makes it possible for firms to operate efficiently and effectively with minimal manpower and helps to reduce operating costs. Because of its ability to minimize errors and reduce human interventions, technology delivers instant financial reports with accuracy and reliability. Even though findings from the study revealed that the use of technology has a positive influence in financial reporting, system breakdown leads to data loss which has the propensity to hinder stakeholders from receiving timely financial reports. Moreover, findings reveal that audit firms are exposed to information security risk such as virus attacks and hacking of the system.The old way of financial reporting had changed completely in some parts of the world while in other parts it is gradually changing. But how technology is affecting financial reporting processes all over the world and in Liberia specifically. The aim of this thesis is to investigate and analyze the transformation technology has caused to the financial reporting processes. The research question that guided the study was: How has technology influenced financial reporting processes of two international auditing firms in Liberia?In this study, qualitative method and interpretive research approached were used which enable us to gain deeper insights to the research purpose and address our research questions. The primary data was generated from purposive sampling of six semi-structured interviews from preparers of financial reports ranging from managers to senior associate. These participants were used due to their experiences working with technology which enable us to gain an understanding of how technology has transformed financial reporting processes. Financial reporting and technology are widely researched, but in the context of Liberia there is scare literature of how technology has influenced financial reporting in audit firms. Therefore, this study focuses on the preparers of the financial reports of the two international audit firms in Liberia.The aim of this thesis is to investigate and analyze the transformation technology has caused to the financial reporting processes and to investigate how preparers are trained to keep up with the pace of technology. As such, our theoretical framework used was based on the various technology used globally, efficiency and effectiveness, competence and skills, Technology Acceptance Model (TAM), ABC model, financial reporting characteristics and financial reporting qualities.The findings further suggest that technology affects the security of confidential information and quality of the financial information. First and foremost, technology affects a firm’s ability to communicate with stakeholders. In modern business environment, it is necessary for management to communicate to stakeholders quickly and clearly without hindrance.The contributions of this study cannot be overemphasized. The study contributed knowledge on the use of technology in financial reporting. The study serves as a guide to local audit firms, universities and government to include or improve the financial reporting process of institutions

[pt] Alguns países emergentes têm se destacado com empresas de forte atuação no mercado externo, competindo em setores antes dominados por multinacionais de países de economias desenvolvidas. O presente estudo descreve e analisa as características da internacionalização da Eletrobras, um caso particular de uma empresa estatal que concorre em um setor regulado. Com base em entrevistas com executivos da empresa e em dados secundários, o estudo descreve as motivações para internacionalização, os critérios para seleção de países e os modos de entrada no exterior empregados pela Eletrobras. Uma análise deste caso específico, à luz das principais teorias de internacionalização e de tipologias de multinacionais de países emergentes, contribui para um melhor entendimento do fenômeno de internacionalização de empresas de países emergentes. / [en] Some emerging countries have stood out with strong companies presence in foreign markets, competing head-to-head in sectors traditionally dominated before by multinationals from developed economies. The present study describes and analyzes the characteristics of the internationalization of Eletrobras, a particular case of a state owned company that competes in a regulated sector. Based on interviews with company executives and secondary data, the study outlines the motivations for internationalization, the criteria for selecting countries and entry modes used by Eletrobras. The analysis of this specific case, through the lenses of the major theories of internationalization and typologies of multinationals from emerging countries, contributes to a better understanding of the phenomenon of internationalization of companies from emerging countries.

Thesis (M.M. (Finance & Investment))--University of the Witwatersrand, Faculty of Commerce, Law and Management, Graduate School of Business Administration, 2013. / The capital structure theory was pioneered by Modigliani and Miller (1958). In their study, Modigliani and Miller (1958) argued that capital structure was irrelevant to firm value. There is also significant theory on the capital structure of firms and its determinants. Using a panel of non-financial firms listed on the JSE Securities Exchange, we investigate the relevance of capital structure on firm value and investigate the capital structure of firms in South Africa. The results of the analysis on the relevance of capital structure on firm value indicated that there is no statistically significant relationship between firm value and the capital structure of firms. This analysis was conducted for the general sample of firms in the study, within industries and by firm size, however, the results were consistent throughout all the analysis. The results of the capital structure and its determinants analysis indicated that South African firms followed a pecking order theory. The results also indicated that profitability, size, asset tangibility and tax shield has a statistically significant relationship to gearing or the firm’s capital structure. The analysis of the South African firms’ capital structure indicated that firms in South Africa tend to use more long-term debt than short-term debt. The leverage ratios also differed among industries with the Health care industry having the highest levels of leverage and the Technology industry having the lowest levels of leverage.

Capital structure is the varying levels of use of debt and equity to finance a firms operations. Firms have an overall leverage level, consisting of a long term and short term level. The economy has different phases over the business cycle ranging from boom cycles where businesses prosper to recessions when they may have difficulties. This cycle can be identified utilising economic indicators, the South African Reserve Bank has classified time periods into growth and recessionary periods, this business cycle phase allocation was utilised for this study to mark recessions. Specific industries from the JSE were selected in an attempt to answer the study’s hypotheses of industry capital structure heterogeneity and that recessions affect capital structure. A sample period from 1995 until 2012 was utilised, containing 5 recessionary years. A stable industry, farming and fisheries, a highly variable industry, the heavy construction industry and a new age industry, the computer services industry, were selected. The results of the study suggested that capital structure varies across industries as evidenced by the mean differences of leverage for total debt, long term debt and short term debt being statistically significant. The computer services industry utilised the least debt over all. The industries all showed a preference for the use of short term debt. Panel data analysis following both Fixed Effect Methodology and Random Effect Methodology was conducted to analyse the firm-specific factors which affect capital structure as well as the use of a dummy variable to capture the effects of recessions. The firm-specific effects under study included asset tangibility, tax, profitability, age and size. South African firms follow a pecking order as shown by the negative relationship observed between profitability and long and short term debt ratios. Existence of weak evidence in this study shows that recessions affect the capital structure of some of the industries studied. The computer services industry is clearly affected, while farming and fisheries industry has very weak evidence that long term debt may be affected, while there is no evidence to show that the heavy construction industry is affected at all. The study concluded with accepting the hypothesis that there are capital structure variations across industries, which are listed on the JSE in boom and bust periods.

Background: Increased competition and fast-changing and global markets are the major characteristics of today’s business environment. Family firms need to adapt to these changes and more often pursue an international expansion themselves to remain competitive. The concept of dynamic capabilities has been developed to explain how businesses can react to changes in the environment to sustain a competitive advantage. The internationalization of a family firm can be such a change in the environment  Purpose:The purpose of this study is to analyze the internationalization of family firms through the lens of dynamic capabilities.  Method: We use a qualitative case study design with four cases representing four family firms that have gone through an international expansion. Through semi-structured interviews we extract the data from the family firms. We develop a framework out of the literature as a basis for the analysis and present a revised framework with the results of the study.  Conclusion:The analysis shows there are certain capabilities that help family firms in the internationalization process. Sensing capabilities include network and market scanning capabilities and assist family firms with finding new opportunities in foreign markets. Seizing capabilities include decision-making and managerial capabilities and are used to adjust the resource base to exploit the prior sensed opportunities. Lastly, with transforming capabilities, which consist of entrepreneurial and learning/knowledge capabilities, family firms can continuously reconfigure their resources to improve processes and structures towards the new international environment. Various aspects of familiness influence the development of these dynamic capabilities

Neste estudo combinam-se dois temas relevantes e atuais: a internacionalização de empresas e a gestão de marcas. A necessidade de inserção do Brasil no mercado global para o crescimento do país já é quase um consenso e cresce o número de empresas que buscam essa inserção de forma estruturada. Contudo, ainda há um longo caminho a ser percorrido para que o país, por meio de suas empresas, aumente sua participação nas transações internacionais. A fim de crescer e obter melhores resultados, empresas decidem competir no mercado internacional, agregando valor a suas ofertas por meio da construção e da gestão de marcas. Porém, as empresas brasileiras encontram-se, ainda, em estágio quase embrionário no cenário global e essas situação se reflete na academia, embora na última década tenha sido crescente a quantidade de estudos. Nessa tese, o objetivo foi analisar o processo de construção e de gestão de marcas no âmbito da estratégia de internacionalização e inserção de empresas no mundo globalizado. Para a sua consecução, foi utilizada uma fundamentação teórica sobre os assuntos pertinentes aos temas estudados, e, posteriormente, conduziu-se uma pesquisa empírica, qualitativa e de caráter exploratório. Para a coleta de dados, foram realizadas entrevistas em profundidade com representantes de dez organizações franqueadoras brasileiras que se internacionalizaram, as quais fazem parte da Associação Brasileira de Franchising (ABF): Bobs, Cantão, Carmen Steffens, CCAA, Fisk, Mundo Verde, O Boticário, Spoleto, Totvs e Via Uno. Como procedimento analítico, adotou-se a análise de conteúdo. Foram analisados os seguintes elementos: i) processo de internacionalização das empresas, incluindo as motivações para a internacionalização, os modos de entrada selecionados e as dificuldades encontradas nesse processo; ii) utilização de marcas na estratégia de internacionalização de empresas brasileiras e modo como são gerenciadas no exterior; iii) pontos críticos do esforço de desenvolvimento das marcas brasileiras no exterior; iv) utilização da marca de origem nos processos de internacionalização de empresas brasileiras; v) associações feitas pelos consumidores locais em decorrência da utilização da marca de origem na construção de marcas de empresas ou produtos brasileiros no exterior. Os resultados da pesquisa de campo foram analisados à luz do referencial teórico e foi proposta uma sistematização do processo de construção e de gestão de marcas na estratégia de internacionalização de empresas. Em termos teóricos, a contribuição da tese está no estabelecimento de um elo entre as teorias de internacionalização de empresas e de gestão de marcas, discutindo-se os temas no contexto brasileiro. Com este estudo, visou-se contribuir para a ampliação da compreensão de que a gestão de marcas é um fator vital na escolha e no desenvolvimento da estratégia de internacionalização de empresas, fornecendo uma sistematização das práticas de gestão de marcas mais produtivas para a inserção de empresas brasileiras no mundo globalizado. / This study combines two relevant and up-to-date subjects: internationalization of firms and brand management. The need for Brazil to become a true global player is almost consensus, and the number of Brazilian companies entering the global marketplace in a structured way has increased. However, there is still a long way to go before the country increases its participation in the international transactions by means of its companies. With the purpose of growing and obtaining better results, companies choose to compete in the international market, adding value to their offers through brand building and management. Nevertheless, Brazilian companies are still at an embryonic stage in the global scenario and this situation is reflected in the academy, although the amount of research has grown in the last decade. The purpose of the thesis was to analyze the brand building and management process in the scope of the strategy of internationalization and insertion of companies in the globalized world. For such a purpose, firstly it was developed a theoretical basis pertaining to the subjects at hand and, afterwards, an empirical, qualitative and exploratory research was carried out. The data were collected from in depth interviews with the representatives of ten Brazilian franchisors that became international, which are associated to the Brazilian Association of Franchising (ABF): Bobs, Cantão, Carmen Steffens, CCAA, Fisk, Mundo Verde, O Boticário, Spoleto, Totvs and Via Uno. The analytical procedure adopted was the content analysis. The following elements were analyzed at the research: i) the process of internationalization of the firms, including the reasons for the internationalization, the modes of entry and the difficulties experienced in this process; ii) the use of brands in the strategy of internationalization of the Brazilian companies and how they are managed overseas; iii) the critical aspects of the effort of development of the Brazilian brands overseas; iv) the use of brand origin in the processes of internationalization of the Brazilian companies; v) the associations made by local consumers as a result of the use of brand origin in the building of Brazilian product or corporate brands overseas. The results of the field research were analyzed in the light of the theoretical reference, and a systematization of the brand building and management process in the internationalization strategy of firms was suggested. In theoretical terms, the thesis contributes by establishing a link between the theories of internationalization of firms and brand management, discussing the subjects in the Brazilian context. The study aims at contributing to an increase in the understanding that brand management is essential to choose and develop the internationalization strategy of firms, providing a systematization of the most productive brand management practices for Brazilian companies to become global players.