Venture Capitalists and Closely Held IPOs: Lessons for Family-Controlled Firms

This study examines how the presence of venture capitalists (VCs) in closely held IPOs relates to their performance. It also identifies other factors that are related to the performance of closely held IPOs. Closely held firms in this study had an average of 88% insider ownership before the IPO. In general, we find that closely held IPOs benefit from associations with VCs. This finding suggests that VCs\u27 outside expertise and connections are valuable assets. Because it takes time for VCs to effect changes and because beneficial changes generally occur gradually, firms contemplating IPOs must plan well in advance to maximize firm value. Family-controlled firms contemplating growth or liquidity options through the IPO, VCs, or other outside capital should consider the findings of this study because it identifies factors that are associated with more successful IPO outcomes

Assessing Espoused Goals in Private Family Firms Using Content Analysis

Understanding how private family firms gauge performance is of great interest to family business scholars. Unfortunately, finding comparable data to understand differences in the performance of such firms is challenging. This study draws from the organizational identity literature to show how private family firms communicate different goals in publicly available organizational narratives. The authors illustrate a process using content analysis that allows family business scholars to create a comparative data set that captures both normative and utilitarian goals using website and press release narratives from a sample of Australian firms.Yeshttps://us.sagepub.com/en-us/nam/manuscript-submission-guideline

Fostering Program Comprehension in Novice Programmers - Learning Activities and Learning Trajectories

This working group asserts that Program Comprehension (ProgComp) plays a critical part in the process of writing programs. For example, this paper is written from a basic draft that was edited and revised until it clearly presented our idea. Similarly, a program is written incrementally, with each step tested, debugged and extended until the program achieves its goal. Novice programmers should develop program comprehension skills as they learn to code so that they are able both to read and reason about code created by others, and to reflect on their code when writing, debugging or extending it. To foster such competencies our group identified two main goals: (g1) to collect and define learning activities that explicitly address key components of program comprehension and (g2) to define tentative theoretical learning trajectories that will guide teachers as they select and sequence those learning activities in their CS0/CS1/CS2 or K-12 courses. The WG has completed the first goal and laid down a strong foundation towards the second goal as presented in this report. After a thorough literature review, a detailed description of the Block Model is provided, as this model has been used with a dual purpose, to classify and present an extensive list of ProgComp tasks, and to describe a possible learning trajectory for a complex task, covering different cells of the Block Model matrix. The latter is intended to help instructors to decompose complex tasks and identify which aspects of ProgComp are being fostered

Defining family business: a closer look at definitional heterogeneity

Researchers have used a myriad of different definitions in seeking to explain the heterogeneity of family firms and their unique behavior; however, no widely-accepted definition exists today. Definitional clarity in any field is essential to provide (a) the basis for the analysis of performance both spatially and temporally and (b) the foundation upon which theories, frameworks and models are developed. We provide a comprehensive analysis of prior research and identify and classify 82 definitions of family business. We then review and evaluate five key theoretical perspectives in family business to identify how these have shaped and informed the definitions employed in the field and duly explain family firm heterogeneity. Finally, we provide a conceptual diagram to inform the choice of definition in different research settings