La Teoria de juegos y la sucesión en las empresas familiares

El paso del control ejecutivo de la empresa familiar por el fundador a la generación siguiente es una fase critica. Esta tesis extiende el uso de la teoría del juegos para proveer un entendimiento del papel que tienen la familia, el fundador y el ambiente cultural en la selección del sucesor. Los juegos usados incluyen explícitamente, y por primera vez, los factores emocionales relacionados con la dimensión familiar de la empresa familiar. En relación al impacto de la familia, la tesis se enfoca en la competencia fraternal que puede erosionar la armonía familiar y arriesgar la continuidad de la empresa. Los resultados destacan el costo emocional de conflicto, en importante para la definición del sucesor y esencial para explicar la ventaja del primer que se mueva. Esta tesis contribuye demostrando analíticamente la importancia del fundador adoptar una aproximación activa en el proceso de sucesión. Los resultados muestran que eso es esencial para asegurar la continuidad intergeneracional de la empresa y la asignación de su candidato preferido como sucesor. Los factores emocionales son determinantes para el resultado del sucesor y son evidentes en algunos ambientes culturales, como en India. Los resultados enfatizan que la discrepancia cultural entre las generaciones puede comprometer la sucesión y la armonía familiar. La tesis complementa la teoría de juego con economía experimental, lo que es completamente original en esta área. Para incluir la deficiencia de comunicación, se usa un juego de información completa e imperfecta. Los resultados confirman que las conclusiones teóricas son verdaderas en el laboratorio.The passing of the family firm’s executive control from the founder to the next generation is a critical stage for the family firm. This thesis extends the use of game theory to provide insights on the role the family, the founder and the cultural setting have on successor selection in family firms. The games used explicitly include, for the first time, the emotional factors related to the family dimension of the family firm. In terms of the impact of the family on successor selection, the thesis focuses on sibling competition which can erode family harmony and risk the firm’s continuity. The findings highlight that the emotional cost of conflict, triggered by the succession race, plays a key role on the definition of the successor and is essential in explaining the first mover advantage. This thesis contributes by analytically demonstrating the importance of the founder adopting an activist approach to the succession process. The results show that the founder’s approach is essential to ensure firm intergenerational continuity and secure the appointment of his preferred successor candidate. The emotional factors are determinant for the successor outcome and are even more evident in certain cultural settings, such as India. The results emphasize that the younger generation’s cultural misalignment can jeopardize intergenerational succession and risk family harmony. The thesis complements game theory with experimental economics, which is completely original in this field. A game of complete and imperfect information is used to extend the application to families with communication deficiency. The results confirm that the theoretical conclusions hold true in the laboratory

Conceptual foundations of entrepreneurial strategy: A systematic literature review

Objective: The objective of the article is to contribute to a greater and deeper understanding of the ES conceptualisation. The relevance of the topic of Entrepreneurial Strategy (ES) stems from growing interest of society in entrepreneurship, which has become extensively discussed although the concept of ES is still poorly understood. Research Design & Methods: A systematic literature review (SLR) referring to 427 articles from the Web of Science and Scopus databases was conducted. Findings: The results made it possible to identify five ES conceptual foundations: i) economic theory and entrepreneurship; ii) entrepreneurial strategies, concept – theory; iii) entrepreneurial strategies, framework – models; iv) entrepreneurial strategies, contexts – application; and v) entrepreneurial strategies, application - metrics. Implications & Recommendations: This SLR can help to highlight the gap in theories on ES, its conceptualisation and the fundamentals found in the literature. A research agenda is suggested for each ES foundation identified. Contribution & Value Added: The study is innovative given there have been no other identified SLR studies on the ES concept. The study attempts to contribute towards the literature by offering a model of interactions of the ES foundations.info:eu-repo/semantics/publishedVersio

Strategic corporate communication in the digital age

There is a relationship between the organizations’ strategic objectives and their corporate communications. The latter is an important feature of organizational performance. Organizational leaders are continuously facing the challenge of communicating their strategic goals to their stakeholders. Very often, they are adopting performance management tools to meet this challenge. Consequently, this chapter explains that the Balanced Scorecard (BSC) can be used to evaluate and measure the firms’ corporate communications and their organizational performance. This tool has been widely recognized by academics and managers as it is capable of aligning organizational strategies (including their missions and visions), strategic indicators (leading and lagging indicators) and stakeholder management. A review of the relevant literature review suggests that many practitioners are becoming strategic in their corporate communications. In this light, this chapter clarifies that the BSC approach can be used to support them in their stakeholder engagement. This contribution is useful for both academics and practitioners as it aligns the corporate communication practices with organizational strategy and performance management in the digital era.peer-reviewe

La Teoria de juegos y la sucesión en las empresas familiares

El paso del control ejecutivo de la empresa familiar por el fundador a la generación siguiente es una fase critica. Esta tesis extiende el uso de la teoría del juegos para proveer un entendimiento del papel que tienen la familia, el fundador y el ambiente cultural en la selección del sucesor. Los juegos usados incluyen explícitamente, y por primera vez, los factores emocionales relacionados con la dimensión familiar de la empresa familiar. En relación al impacto de la familia, la tesis se enfoca en la competencia fraternal que puede erosionar la armonía familiar y arriesgar la continuidad de la empresa. Los resultados destacan el costo emocional de conflicto, en importante para la definición del sucesor y esencial para explicar la ventaja del primer que se mueva. Esta tesis contribuye demostrando analíticamente la importancia del fundador adoptar una aproximación activa en el proceso de sucesión. Los resultados muestran que eso es esencial para asegurar la continuidad intergeneracional de la empresa y la asignación de su candidato preferido como sucesor. Los factores emocionales son determinantes para el resultado del sucesor y son evidentes en algunos ambientes culturales, como en India. Los resultados enfatizan que la discrepancia cultural entre las generaciones puede comprometer la sucesión y la armonía familiar. La tesis complementa la teoría de juego con economía experimental, lo que es completamente original en esta área. Para incluir la deficiencia de comunicación, se usa un juego de información completa e imperfecta. Los resultados confirman que las conclusiones teóricas son verdaderas en el laboratorio.The passing of the family firm’s executive control from the founder to the next generation is a critical stage for the family firm. This thesis extends the use of game theory to provide insights on the role the family, the founder and the cultural setting have on successor selection in family firms. The games used explicitly include, for the first time, the emotional factors related to the family dimension of the family firm. In terms of the impact of the family on successor selection, the thesis focuses on sibling competition which can erode family harmony and risk the firm’s continuity. The findings highlight that the emotional cost of conflict, triggered by the succession race, plays a key role on the definition of the successor and is essential in explaining the first mover advantage. This thesis contributes by analytically demonstrating the importance of the founder adopting an activist approach to the succession process. The results show that the founder’s approach is essential to ensure firm intergenerational continuity and secure the appointment of his preferred successor candidate. The emotional factors are determinant for the successor outcome and are even more evident in certain cultural settings, such as India. The results emphasize that the younger generation’s cultural misalignment can jeopardize intergenerational succession and risk family harmony. The thesis complements game theory with experimental economics, which is completely original in this field. A game of complete and imperfect information is used to extend the application to families with communication deficiency. The results confirm that the theoretical conclusions hold true in the laboratory

Grounded theory: An illustrative application in the Portuguese footwear industry

Grounded theory is an inductive research methodology aiming at the construction of new concepts or new theories able to explain emerging phenomena. The objective of this paper is to provide insights on the usage of grounded theory in management research. We showcase how grounded theory can bring light to development modes of Portuguese small and medium-sized enterprises (SME) in the specific reality of the footwear industry, where a changing and unpredictable environment threatens constant loss of competitive advantage. An interpretive-epistemological research philosophy was adopted, and evidence was gathered through nine semi-structured interviews. Portugal is currently a reference in the international footwear market and the sustainability of the sector plays an important role in the Portuguese industrial structure. This study highlights how the method of grounded theory can add value to research by uncovering complex managerial realities and develop new questions and issues for theory building

Game theory and governance of protected areas – Peneda-Gerês National Park

AbstractThe literature shows that integrating tourism management with place governance practices is conducive to harmony and development in urban areas. However, protected areas face peculiar governance and management challenges. This article offers an in-depth study of the governance of the Peneda-Gerês National Park in Portugal. We model the incentive structure of some of its stakeholders through game theoretical techniques and find that early phases were not conducive to cooperation among relevant stakeholders, potentially leading to outcomes that were less than optimal, both to them and to the park. The most recent, co-management, model seems much more promising

Portuguese Anti-money Laundering Policy: a Game Theory Approach

The fight against money laundering has taken center stage in the global arena. The European Union (EU), in line with various international organizations, plays an active role in the fight against this crime and promotes anti money laundering directions to its member states. The statistics regarding Portugal (a member of the EU since 1986) indicate that it lags behind most of the EU members in terms of reporting of suspicions of money laundering. This paper adopts a game theory approach to study the efficiency of the combat against money laundering in Portugal, both with regard to the financial and the non financial sector of the economy. Additionally, the paper studies the impact of the increase of sanctions, as recommended by the 4th Directive 2015/849 of the European Parliament and of the Council of 20th May of 2015, on that combat. The results show that the low probability of the institutions being caught (and fined) for not complying with their reporting duties, coupled with the low conviction rates for money laundering crimes, justifies the reduced number of suspicious transactions reported. The findings highlight that an increase of sanctions, on both financial and non financial institutions, would tend to augment the efficiency of the combat against money laundering in Portugal.publishe