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44
The jackknife—a review.
- Biometrika
, 1974
"... The Light Beyond, By Raymond A. Moody, Jr. with Paul Perry. New York, NY: Bantam Books, 1988, 161 pp., $18.95 In his foreword to this book, Andrew Greeley, a prominent priest and sociologist, introduces his comments with the following statement: "Raymond Moody has achieved a rare feat in th ..."
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Cited by 104 (0 self)
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The Light Beyond, By Raymond A. Moody, Jr. with Paul Perry. New York, NY: Bantam Books, 1988, 161 pp., $18.95 In his foreword to this book, Andrew Greeley, a prominent priest and sociologist, introduces his comments with the following statement: "Raymond Moody has achieved a rare feat in the quest for human knowledge; he has created a paradigm." He then refers to Thomas Kuhn, who pointed out in The Structure of Scientific Revolutions that scientific revolutions occur when someone creates a new perspective, a new model, a new approach to reality. Although Greeley acknowledges that Moody did not discover the near-death experience (NDE), he contends that because Moody put a name to it in his previous bestseller Life After Life (1975), he therefore deserves credit for the new para digm that has evolved. Greeley then refers to The Light Beyond as characterized by Moody's "openness, sensitivity and modesty." This he attributes to Moody's acknowledgement that the NDE does not repre sent proof of life after death; rather, it indicates only the existence and widespread prevalence of the NDE. I must question why Greeley does not comment more on the content of the book, and why Moody felt it was appropriate to be credited with creating a new paradigm. During the last fourteen years since Life
Entrepreneurial orientation, risk taking, and performance in family firms
- Family Business Review
, 2007
"... This article focuses on risk taking as one important dimension of entrepreneurial ori-entation and its impact in family firms. Drawing on a sample of Swedish SMEs, we find that risk taking is a distinct dimension of entrepreneurial orientation in family firms and that it is positively associated wit ..."
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This article focuses on risk taking as one important dimension of entrepreneurial ori-entation and its impact in family firms. Drawing on a sample of Swedish SMEs, we find that risk taking is a distinct dimension of entrepreneurial orientation in family firms and that it is positively associated with proactiveness and innovation. We also find that even if family firms do take risks while engaged in entrepreneurial activities, they take risk to a lesser extent than nonfamily firms. Moreover, and most importantly for our understanding of entrepreneurial orientation in family firms, we find that risk taking in family firms is negatively related to performance. Both theoretical and practical impli-cations of our findings are provided.
Current Trends and Future Directions in Family Business Management Studies: Toward a Theory of the Family Firm
, 2003
"... This White Paper, commissioned by the Coleman Foundation and U.S. Association of Small Business and Entrepreneurship, has three specific objectives. The first is to provide a review of the most important contributions to the field with respect to progress in the development of a theory of the famil ..."
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Cited by 18 (1 self)
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This White Paper, commissioned by the Coleman Foundation and U.S. Association of Small Business and Entrepreneurship, has three specific objectives. The first is to provide a review of the most important contributions to the field with respect to progress in the development of a theory of the family firm. The second is to discuss the most important directions for future research with respect to the same end. The third is to make a set of recommendations on an appropriate pedagogy for family business management in light of these development and directions.
Time horizon, costs of equity capital and generic investment strategies of firms
- Family Business Review
, 2007
"... behind the capital asset pricing model, in particular the irrelevance of time horizon, do not correspond to the characteristics of firms that prefer long-term investment horizons. I show that family firms display a longer time horizon than most of their nonfamily counterparts, since (1) family firms ..."
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Cited by 14 (3 self)
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behind the capital asset pricing model, in particular the irrelevance of time horizon, do not correspond to the characteristics of firms that prefer long-term investment horizons. I show that family firms display a longer time horizon than most of their nonfamily counterparts, since (1) family firms display a longer CEO tenure, (2) this type of firm strives for long-term independence and succession within the family, and (3) due to the fact that family firms are overrepresented on western European stock markets in cyclical industries in which business cycles inhibit short-term success. As the annual default risk of an investment diminishes with increasing holding period (Hull, 2003), the risk-equivalent cost of equity capital of firms with longer planning horizons (e.g., family firms) can be lower as well. Based on the assumption that economic value to shareholders is created when firms invest in projects with returns above the associated cost of capital (Copeland, Koller, & Murrin, 2000), I argue that long-term-oriented firms can tackle unique investment projects represented by two generic investment strategies—the perseverance and the outpacing strategy. The first one, the perseverance strategy, represents investment strategies in which long-term-oriented firms invest in lower return but equal risk projects than their more short-term-oriented counterparts. The second one, the outpacing strategy, comprises investment projects with higher risk and equal return than the short-term competitors.
A Stakeholder Perspective on Family Firm Performance
"... Through the lens of stakeholder theory, this article deepens our understanding of financial and nonfinancial performance outcomes in family firms across multiple stakeholder categories, including the family level of analysis. Based on this foundation, we develop a typology of performance relationshi ..."
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Through the lens of stakeholder theory, this article deepens our understanding of financial and nonfinancial performance outcomes in family firms across multiple stakeholder categories, including the family level of analysis. Based on this foundation, we develop a typology of performance relationships between performance outcomes: overlapping, causal, synergistic, and substitutional. We argue that these relationships, when used between constructive (positive) performance outcomes, are able to increase stakeholder satisfaction, which in turn increases organizational effectiveness. Through this analysis, we extend the common one-dimensional and cause-effect understanding of performance infamilyfirmsandmovetowardacomprehensivestakeholderperformanceperspective, which provides insights for increasing organizational effectiveness of family firms.
Pacific Business Sustainability in New Zealand: A study of Tongan Experiences
, 2009
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What’s so special about family businesses?” An exploratory study of UK and Irish consumer experiences of family businesses
- International Journal of Consumer Studies
, 2008
"... Abstract While family-owned businesses are considered to have specific advantages in customer relationships, limited research has been conducted into how these abilities are developed or understood by the public. Consumers may indeed perceive family businesses differently from non-family businesses ..."
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Abstract While family-owned businesses are considered to have specific advantages in customer relationships, limited research has been conducted into how these abilities are developed or understood by the public. Consumers may indeed perceive family businesses differently from non-family businesses, but this aspect has received scant attention within the literature. This paper sets out exploratory work designed to gain an understanding of Irish and UK consumer perceptions of family-owned businesses, within both urban and rural communities. The study provides insight into the meaning of 'familiness' in consumers' minds when linked to family businesses, and explores the relationships and experiences that respondents have of family firms. Emerging issues include family business heritage, community bonds and social stewardship, consumer loyalty and generational transfer, distinction, choice and retail heterogeneity. The findings of this exploratory study suggest that researchers should be paying more attention to the positive aspects of family businesses within communities, and concludes with suggestions for future research to further extend this area of study.
Training in Thai SMEs
- Journal of Small Business and Enterprise Development
, 2009
"... Purpose – To profile Thai small-medium enterprises (SMEs) and fill a research gap about their investment in training and approaches to training. Design/method/approach – a quantitative, descriptive design with a drop-off survey among 438 SMEs in Thailand. Findings – The study reveals a relatively yo ..."
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Cited by 4 (0 self)
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Purpose – To profile Thai small-medium enterprises (SMEs) and fill a research gap about their investment in training and approaches to training. Design/method/approach – a quantitative, descriptive design with a drop-off survey among 438 SMEs in Thailand. Findings – The study reveals a relatively young, highly-educated cohort of SME owner/managers, with greater business longevity than other countries. They do not invest- 2 – a great deal of time or money in training and prefer informal, unstructured on-the-job (OTJ) training. Most SMEs trained a few or none of their members for two hours a week and thus were ‘low ’ or ‘tactical ’ trainers. However there were some ‘strategic ’ trainers particualry in contemporary industries such as IT and services as well as larger and higher-earning SMEs. Research limitations – The study focused on urban Thai SMEs and thus may not represent rural or regional areas, or SMEs in other countries. The quantitative approach does not explain why investment in training was relatively low.
Working Paper
, 2008
"... Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, ..."
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Standard-Nutzungsbedingungen: Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden. Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen. Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Global Availability of Phosphorus and Its Implications for Global Food Supply: An Economic Overview Markus Heckenmüller, Daiju Narita, Gernot Klepper Abstract: Being of crucial importance for agricultural production and also having experienced significant price volatility, phosphate and its future availability have drawn growing attention from both academics and the public over the last years. This paper overviews the recent literature and data on the availability of phosphorus and discusses the economic aspects of phosphate scarcity by describing major price determinants of the global phosphate market. We show that past price fluctuations of phosphate rock and phosphate fertilizers are not a reflection of physical phosphate rock depletion but rather attributable to numerous other demand-and supply-side factors. Given the current reserve estimates for phosphate rock, neither an exhaustion of global reserves nor a peak event is likely to occur within this century. However, these estimates are subject to a significant degree of uncertainty. Moreover, the global distribution of phosphate production and reserves is highly skewed and has the potential to pose a threat to food security in developing countries through factors such as the volatility of the phosphate rock price or price setting by suppliers with significant market power.
The Duality of Internal and External Development of Successors: Opportunity Recognition in Family Firms
"... The study contributes to the family business literature by examining the intersection of succession and opportunities and extends an existing line of research on entrepreneurial behavior in family firms by examining opportunity perception by 119 family business successors. The authors investigate th ..."
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The study contributes to the family business literature by examining the intersection of succession and opportunities and extends an existing line of research on entrepreneurial behavior in family firms by examining opportunity perception by 119 family business successors. The authors investigate the successors ’ self-efficacy, education, and work experience, together with their perception of entrepreneurial opportunities. The results suggest that successors who perceive new opportunities balance and combine their family firm–specific human capital built through experience within the family firm with general human capital built through education and other work experience to generate new ideas leading to the entrepreneurial opportunity perception. Keywords opportunity perception, family business, succession, successor development, entrepreneurial self-efficacy Family businesses are an important part of the U.S. economy, contributing 57 % of the employment num-bers and a similar proportion of gross domestic product (Astrachan & Shanker, 2003). Yet statistics indicate that only a third of the family businesses survive to the sec-ond generation (Beckhard & Dyer, 1983; Handler, 1994; Lansberg, 1988), and less than 10 % make it to the third generation within the same family (Handler, 1994). Along similar lines, recent research in the United Kingdom shows that only 24 % of family businesses make it to the second generation and less than 14 % make the transition to the third generation successfully (Bjuggren & Sund, 2001, 2002; Molly, Laveren, & Deloof, 2010). The extant literature suggests that at least part of the reason for ineffective succession is because of an unwill-ingness of business founders and successors to change
