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Fast or slow? Decision-making styles in small family and nonfamily firms

2018Journal article Restricted access
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dc.contributor.authorPimentel, Duarte Nuno Gonçalves
dc.contributor.authorScholten, Marc
dc.contributor.authorCouto, João Pedro
dc.date.accessioned2020-07-23T15:22:06Z
dc.date.available2020-07-23T15:22:06Z
dc.date.issued2018
dc.description.abstractPurpose – The purpose of this paper is to explore differences in the decision-making styles between family and nonfamily firms, while assessing how family participation relates to the use of decision-making styles within family firms. Design/methodology/approach – The empirical evidence is provided by a sample of 155 firms, located in the Azores, Portugal, 82 family controlled and 73 nonfamily controlled firms. All firms included in the sample are small-sized privately owned enterprises. Business owners and managers responded to a decision-making styles questionnaire, followed, in the case of family firms, by the report of the number of family members actively involved in the business. Findings – Results show that there are no differences in the use of rational decision making between family and nonfamily firms. However, nonfamily firms show higher levels of experiential decision making than family firms. Results also show that family participation plays a key role in guiding the decisional process, by promoting the use experiential decisions and inhibiting the adoption of a rational decision-making styles in family firms. Research limitations/implications – From a theoretical perspective, this study opens the door to new research on an under investigated topic in the family business literature. It contributes with initial notions that may help profile the decisional style within small family firms, while revealing how family participation affects it. Thus, creating a fertile ground of discussion that can be an impulse for more research in this area. Practical implications – From an applied perspective, assessing the influence of family participation in the adoption of a decisional style is potentially valuable for practitioners as well as for owners and managers. Providing them with clues that may help them better understand the basis of their decisions which can benefit their relations with other family members, as with customers, partners and suppliers that play a key role in the firm’s growth, profitability and adaptability. Social implications – From a social point of view, showing that family firms tend to be rational in their decisions may help create a more reputable and credible image surrounding these firms that are sometimes perceived as less professional than nonfamily firms. Thus, a more solid reputability can help improve their relationship with important partner institutions (e.g. financial, governmental), becoming more attractive to private and public investment, which can translate into win-win situations. Originality/value – This study responds to a gap in the literature, by exploring the use of experiential vs rational decision-making styles in small family and nonfamily firms. This study also contributes to the understanding of the decision making within family firms, by assessing the role of family participation in the adoption of a decisional style.pt_PT
dc.description.versioninfo:eu-repo/semantics/publishedVersionpt_PT
dc.identifier.citationJournal of Family Business Management, 8(2), 113-125 Doi: 10.1108/JFBM-02-2017-0007pt_PT
dc.identifier.doi10.1108/JFBM-02-2017-0007pt_PT
dc.identifier.issn20436238
dc.identifier.urihttp://hdl.handle.net/10400.12/7720
dc.language.isoengpt_PT
dc.peerreviewedyespt_PT
dc.publisherEmerald Group Publishing Ltd.pt_PT
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/pt_PT
dc.subjectFamily businesspt_PT
dc.subjectDecision-making stylept_PT
dc.subjectFamily participationpt_PT
dc.titleFast or slow? Decision-making styles in small family and nonfamily firmspt_PT
dc.typejournal article
dspace.entity.typePublication
oaire.citation.conferencePlaceUnited Kingdompt_PT
oaire.citation.endPage125pt_PT
oaire.citation.issue2pt_PT
oaire.citation.startPage113pt_PT
oaire.citation.titleJournal of Family Business Managementpt_PT
oaire.citation.volume8pt_PT
person.familyNamePimentel
person.familyNameScholten
person.familyNameCouto
person.givenNameDuarte
person.givenNameMarc
person.givenNameJoão
person.identifier2404776
person.identifier1584863
person.identifier.ciencia-id9418-9B02-5414
person.identifier.ciencia-idAD19-5A7C-46F6
person.identifier.ciencia-idD61F-7EBC-5E40
person.identifier.orcid0000-0002-8224-0571
person.identifier.orcid0000-0003-1868-5928
person.identifier.orcid0000-0001-9607-0596
person.identifier.ridR-8137-2017
person.identifier.ridA-7478-2013
person.identifier.scopus-author-id55577361500
person.identifier.scopus-author-id8123698000
person.identifier.scopus-author-id8633313100
rcaap.rightsrestrictedAccesspt_PT
rcaap.typearticlept_PT
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relation.isAuthorOfPublication436299fa-3ecb-47ed-aa38-67cb6171fcd7
relation.isAuthorOfPublication.latestForDiscovery436299fa-3ecb-47ed-aa38-67cb6171fcd7

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