Open Access
Family firms: the role of non-economic factors
(2015) Garcés Galdeano, Lucía; Larraza Kintana, Martín; Gestión de Empresas; Enpresen Kudeaketa
En esta tesis se estudia el papel de los factores no económicos en la toma de decisiones de las empresas familiares y las compara así con las decisiones tomadas por las empresas no familiares. Analiza los factores no económicos en distintas bases de datos y a través de diferentes variables económicas, como son: la orientación emprendedora, la responsabilidad social corporativa y la satisfacción general de la empresa respecto a los resultados económicos. La variedad de contextos económicos, así como la distintas variables analizadas hacen que los resultados sean mucho más consistentes. Además, se utilizan distintos factores moderadores que contribuyen y enriquecen el marco teórico. La tesis no sólo compara las empresas familiares y las no familiares en base a las anteriores variables económicas sino que además es capaz de explicar las variaciones que exiten en los comportamientos dentro de las empresas familiares, contribuyendo al actual debate sobre la heterogeneidad de la empresa familiar. Por último, la tesis amplia el estudio sobre la teoría de la riqueza socioemocional, y su aplicación en la empresa familiar junto con otras teorías que hacen más fácil la comprensión del especial comportamiento de la empresa familiar.
Open Access
Sistemas de gestión de personas de alto compromiso (SGPAC) y empresa familiar: ¿son realmente diferentes las empresas familiares?
(Eusko Ikaskuntza-Sociedad de Estudios Vascos., 2013) Garcés Galdeano, Lucía; Gestión de Empresas; Enpresen Kudeaketa
El presente trabajo analiza si existen diferencias entre las empresas familiares y no familiares en el grado de implementación de sistemas de gestión de personas de alto compromiso en diferentes grupos de empleados. Los resultados indican que las empresas familiares no presentan un grado de implementación de sistemas de gestión de personas de alto compromiso diferentes al de las empresas no familiares.
Open Access
Enhancing innovation through ESG practices: the superior impact on family businesses
(Emerald, 2025-02-24) Barguilla Sanclaudio, Maite; Garcés Galdeano, Lucía; Salazar Morales, Iván Alfredo; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Purpose: This work contributes to the debate on the link between environmental, social and governance (ESG) criteria and firm innovation, incorporating ownership structure as a moderating variable. Design/methodology/approach: This research uses ordinary least squares (OLS) regression to analyse the impact of ESG criteria on innovation, considering firm ownership as a catalyst that strengthens the effect of environmental and social practices on innovative performance. Findings: Family-owned firms, with their unique characteristics like long-term orientation and commitment to family values, strengthen the relationship between environmental and social practices and innovation performance. This suggests that such firms are better positioned to leverage their corporate social responsibility (CSR) commitments and activities. Practical implications: The findings offer valuable insights for decision-making in organizations, particularly family firms focused on innovation and sustainability. The research shows that investing in sustainability practices not only ensures ESG compliance but also significantly fosters innovation. Originality/value: This study contributes to the debate regarding the relationship between ESG criteria and firm innovative performance. It highlights how the implementation of ESG practices influences innovation, and particularly how firm ownership further enhances the relationship between environmental and social practices and firm innovative performance.
Open Access
Las empresas españolas entre el cambio y la inercia: la relevancia de la gestión
(Colegio de Economistas de Madrid, 2019) Huerta Arribas, Emilio; Garcés Galdeano, Lucía; Gestión de Empresas; Enpresen Kudeaketa
El entorno plantea importantes desafíos para las empresas españolas sobre qué estrategias, qué tecnologías y qué sistemas de gestión están relacionados con el éxito. El reto para la economía es pasar de un marco institucional y empresarial centrado en los costes a otro diferente que se nutra de la innovación y consiga aumentar la competitividad. El camino de la innovación implica desarrollar trayectorias propias que se aparten de la simple imitación. Exige mejorar la función empresarial, tener buenos empresarios y directivos con competencias para impulsar buenas prácticas de gestión. En definitiva, el buen management será una de las palancas principales que moverá a las empresas a sustituir la inercia por la innovación y la rutina por el cambio.
Open Access
How important is family involvement for small companies’ growth?
(Emerald, 2020) Garcés Galdeano, Lucía; García Olaverri, Carmen; Enpresen Kudeaketa; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas; Estadística, Informática y Matemáticas
Purpose: Our paper seeks to further understand how family involvement in management influences firm growth. Design/methodology/approach: Using a sample of small high-tech firms, we classify three different types of firms: family firms managed by family-CEOs, family firms managed by non-family CEOs and non-family firms. Findings: Consistent with our expectations, we show that firms managed by family-CEOs have less firm growth in comparison with the other two groups. When the family firm is managed by non-family CEOs, the presence of another family member in management positions has a negative impact on firm growth. Finally, we found that founder-led family firms have better firm growth than descendant-led family firms. Research limitations/implications: Implications for the theory of family firms are discussed. Originality/value: The value of the present study is to analyse in depth the heterogeneity of the family business trying to close the gap by exploring the effect of family involvement on small firm growth. Thus, we will find different behaviours of these family companies, depending on the family member’s presence in management positions.
Open Access
Sistemas de trabajo de alto rendimiento y productividad: el papel de la orientación emprendedora
(Ministerio de Industria, Comercio y Turismo, 2019) Garcés Galdeano, Lucía; Caicedo Leitón, Ana Lucía; Gestión de Empresas; Enpresen Kudeaketa
Las prácticas innovadoras de recursos humanos denominadas como «Sistemas de trabajo de alto rendimiento» (STAR) y su estudio, es un tema de creciente interés, siendo objeto de numerosas investigaciones que reivindican la importancia de su implementación en las organizaciones. Desde los nuevos paradigmas como la economía basada en el conocimiento, se plantea reconocer a las personas como activos intangibles que generan valor a la empresa y que a su vez permiten el crecimiento económico (Steinmueller, 2002). La incorporación de activos intangibles en las empresas aparece como un determinante cada vez más importante de la mejora de la competitividad de las empresas y de su crecimiento económico.
Open Access
Female CEOs and default risk in listed family firms
(Emerald, 2023) Abinzano Guillén, María Isabel; Garcés Galdeano, Lucía; Martínez García, Beatriz; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Purpose: The purpose of this paper is to examine the effect of female CEO board members on listed family firms’ corporate default risk, integrating upper echelons theory with social role theory and the socio-emotional wealth approach and proxying default risk with the Black–Scholes–Merton model. It also searches for possible differences attributable to the type of female CEO. Design/methodology/approach: This study is applied to a longitudinal sample of listed US family firms. After a preliminary analysis of the main descriptive, several models are estimated with the system GMM estimator, which is a panel data estimator. The models are dynamic, including the lagged value of the dependent variable. In addition, the model estimation is repeated with a different measure of default risk, for robustness. Findings: This research findings show that default risk diminishes in the presence of a female CEO, whose reduction is even greater if she is a family member. The results are proven to be robust to the measure for proxying default risk. Originality/value: This study primarily contributes to the existing literature by exploring a possible link between female CEOs, particularly those with a family affiliation, and a lower level of default risk in family firms. It also provides practical implications for policymakers, who would be advised to promote conditions enabling women to contribute towards family business viability. In addition, this study offers encouragement for family business owners to value the potential of their female family members in company succession processes.
Open Access
Psychological ownership in family firms: a perspective article
(Emerald, 2024-02-12) Caicedo Leitón, Ana Lucía; Garcés Galdeano, Lucía; Larraza Kintana, Martín; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Purpose: This article explores psychological ownership (PO) in family firms (FFs); its impact on interpersonal relationships, attitudes and behaviors within the organization; and its importance for long-term success. It also highlights the factors that contribute to PO in these types of businesses. Design/methodology/approach: The article conducts a literature review that utilizes existing research to delve into the phenomenon of PO within the context of FFs. Findings: The article emphasizes that PO significantly impacts employee behavior and attitudes toward FFs. It shows the favorable influence of PO on employees' conduct and mindset. However, excessive PO can lead to disputes and obstruct the transfer of control. Practical implications: The success of family businesses depends on nurturing strong, positive PO in future generations and among nonfamily members. Originality/value: The article contributes to PO literature in FFs by analyzing its influence on FFs. It highlights factors affecting PO formation and its consequences and highlights novel lines of future research.
Open Access
Nurturing seeds of innovation: the relationship between entrepreneurial orientation and socio-emotional wealth and its implications for family business innovation
(Instituto Tecnologico de Costa Rica, 2024) Caicedo Leitón, Ana Lucía; Villanueva, Nuria; Garcés Galdeano, Lucía; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
Esta investigación examina la relación entre la transmisión de la orientación emprendedora (OE) y la riqueza socioemocional (SEW), así como sus implicaciones para la innovación dentro de las empresas familiares. Para ello, se llevó a cabo un estudio de caso único sobre una empresa familiar española mediante entrevistas y revisión documental. Los datos fueron analizados utilizando análisis temático y análisis de incidentes críticos. Los hallazgos de este estudio de caso destacan que la relación entre la Orientación Emprendedora y la Riqueza Socioemocional en empresas familiares es compleja y posee importantes implicaciones para la innovación. La interrelación dinámica entre la orientación emprendedora y la riqueza socioemocional se caracteriza por una simbiosis que se refuerza mutuamente, lo que contribuye a garantizar la supervivencia a largo plazo de la empresa familiar analizada.
Open Access
Bundles of HRM practices in family and non-family firms: the impact on enhancing performance
(Routledge, 2019) Bello Pintado, Alejandro; Garcés Galdeano, Lucía; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBE
This paper analyzes how ability, motivation and opportunity bundles of HRM practices affect enhanced manufacturing performance in family firms (FFs) and non-family firms (NFFs). Five hypotheses were proposed and tested using data from a unique survey of 301 manufacturing plants located in Uruguay and Argentina. Estimations indicate that coherent bundles comprising HRM practices aimed at enhancing abilities (A) and giving workers the opportunity to participate in the decision-making process (O), individually and interactively, have a positive effect on manufacturing performance in FFs. A motivational bundle of HRM practices (M) has a positive effect on enhanced performance in NFFs. The study therefore establishes the existence of hierarchies among bundles, which vary with company ownership.