Using a transaction costs approach we combine the recent “heterogeneity” and “bifurcation bias” views of family firms to develop hypotheses concerning internationalization and the presence of nonfamily owners, nonfamily managers, interaction between them, and foreign work experience. Tests are performed with a sample of 6,893 family SMEs from four different European countries. We find that the foreign sales intensity of family SMEs is positively associated with the independent presence of outside investors and outside managers, but further positive influence comes from interaction between them. As an alternative to hiring outsiders, the foreign work experience of family managers is associated with internationalization, and may mitigate bifurcation bias.

The Delicate Path to Internationalization for Family Firms. Balancing External Capital, External Managers and Foreign Work Experience / Majocchi, Antonio; D’Angelo, Alfredo; Forlani, Emanuele; Buck, Trevor. - Proceedings of the 59th Annual Meeting of the Academy of International Business. The Contribution of MNEs to Building Sustainable Societies, (2017), pp. - (59th Annual Meeting of the Academy of International Business: The Contribution of MNEs to Building Sustainable Societies, Dubai, UAE, July 2-5, 2017).

The Delicate Path to Internationalization for Family Firms. Balancing External Capital, External Managers and Foreign Work Experience

Majocchi A.
;
2017

Abstract

Using a transaction costs approach we combine the recent “heterogeneity” and “bifurcation bias” views of family firms to develop hypotheses concerning internationalization and the presence of nonfamily owners, nonfamily managers, interaction between them, and foreign work experience. Tests are performed with a sample of 6,893 family SMEs from four different European countries. We find that the foreign sales intensity of family SMEs is positively associated with the independent presence of outside investors and outside managers, but further positive influence comes from interaction between them. As an alternative to hiring outsiders, the foreign work experience of family managers is associated with internationalization, and may mitigate bifurcation bias.
2017
Family Firms, SMEs, Internationalization, Bifurcation Bias
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11385/208500
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