Empreendedorismo internacional de empresas familiares mexicanas listadas e características do CEO / Conselho de administração
DOI:
https://doi.org/10.18046/j.estger.2019.153.3166Palavras-chave:
Analise quantitativa, Empreendedorismo internacional, Empresa familiar, MéxicoResumo
O objetivo deste trabalho é analisar a influência das características dos Gerentes Gerais (CEO) e dos conselhos de administração, no empreendedorismo internacional. Existem 52 empresas familiares listadas no México (2001-2015), um mercado emergente onde a concentração de propriedades é particularmente alta. Os resultados obtidos a partir de um modelo probit binário mostram que a participação da família reduz as chances de internacionalização. No entanto, quando o CEO tem uma formação acadêmica nos negócios, a probabilidade de ter subsidiárias ou filiais no exterior aumenta. Finalmente, há evidências de que a presença de mulheres nos conselhos reduz as chances de empreendedorismo internacional.
Downloads
Referências
Ahn, J.M., Minshall, T., & Mortara, L. (2017). Understanding the human side of openness: The fit between open innovation modes and CEO characteristics. R&D Management, 47(5), 727-740. https://doi.org/10.1111/radm.12264
Alayo, M., Maseda, A., Iturralde, T., & Arzubiaga, U. (2019). Internationalization and entrepreneurial orientation of family SMEs: The influence of the family character. International Business Review, 28(1), 48-59. https://doi.org/10.1016/j.ibusrev.2018.06.003
Amorós, J.E., Etchebarne, M.S., Torres-Zapata, I., & Felzensztein, C. (2016). International entrepreneurial firms in Chile: An exploratory profile. Journal of Business Research, 69(1), 2052-2060. https://doi.org/10.1016/j.jbusres.2015.10.150
Andersen, O., & Rynning, M.R. (1994). Prediction of export intentions - Managing with structural characteristics? Scandinavian Journal of Management, 10(1), 17-27. https://doi.org/10.1016/0956-5221(94)90034-5
Arregle, J. L., Hitt, M. A., Sirmon, D. G., & Very, P. (2007). The development of organizational social capital: Attributes of family firms. Journal of Management Studies, 44(1), 73-95. https://doi.org/10.1111/j.1467-6486.2007.00665.x
Bai, X., Tsang, E.W.K., & Xia, W. (2019). Domestic versus foreign listing: Does a CEO´s educational experience matter? Journal of Business Venturing (article in press), 1-30.https://doi.org/10.1016/j.jbusvent.2018.10.004
Dang, R., Bender, A.F., & Scotto, M.J. (2014). Women on French corporate board of directors: How do they differ from their male counterparts? The Journal of Applied Business Research, 30(2), 489-508. https://doi.org/10.19030/jabr.v30i2.8420
Bianco, M., Ciavarella, A., & Signoretti, R. (2015). Women on corporate boards in Italy: The role of family connections. Corporate Governance: An International Review, 23(2), 129-144. https://doi.org/10.1111/corg.12097
Binacci, M., Peruffo, E., Oriani, R., & Minichilli, A. (2016). Are all non- family managers (NFMs) equal? The impact of NFM characteristics and diversity on family firm performance. Corporate Governance: An International Review, 24(6), 569-583. https://doi.org/10.1111/corg.12130
Block, J. (2011). How to pay nonfamily managers in large family firms: A principal-agent model. Family Business Review, 24(1), 9-27. https://doi.org/10.1177/0894486510394359
Calabró, A., & Mussolino, D. (2013). How do boards of directors contribute to family SME export intensity? The role of formal and informal governance mechanisms. The Journal of Management and Governance, 17(2), 363- 403. https://doi.org/10.2139/ssrn.1858925
Casillas, J.C., Barbero, J.L., & Sapienza, H.J. (2015). Knowledge acquisition, learning, and the initial pace of internationalization. International Business Review, 24(1), 102-114. http://dx.doi.org/10.1016/j.ibusrev.2014.06.005
Cerrato, D., & Piva, M. (2012). The internationalization of small and medium-sized enterprises: The effect of family management, human capital and foreign ownership. Journal of Management & Governance, 16(1), 617-644. https://doi.org/10.1007/s10997-010-9166-x
Chen, H.L., Hsu, W.T., & Chang, C.Y. (2016). Independent directors´ human and social capital, firm internationalization and performance implications: An integrated agency-resource dependence view. International Business Review, 25(1), 859-871. https://doi.org/10.1016/j.ibusrev.2015.10.010
Chirico, F., & Nordqvist, M. (2010). Dynamic capabilities and trans- generational value creation in family firms: The role of organizational culture. International Small Business Journal, 28(5), 487-504. https://doi.org/10.1177/0266242610370402
Christiansen, C., Joensen, J., & Rangvid, J. (2008). Are economists more likely to hold stocks? Review of Finance, 12(1), 465-496. https://doi.org/10.1093/rof/rfm026
Claver, E., Rienda, L., & Quer, D. (2009). Family firms’ international commitment: The influence of family-related factors. Family Business Review, 22(2), 125-135. https://doi.org/10.1177/0894486508330054
D´Angelo, A., Majocchi, A., & Buck, T. (2016). External managers, family ownership and the scope of SME internationalization. Journal of World Business, 51(1), 534-547. https://doi.org/10.1016/j.jwb.2016.01.004
Dalziel, T., Gentry, R.J., & Bowerman, M. (2011). An integrated agency- resource dependence view of the influence of directors' human and relational capital on firms R&D spending. Journal of Management Studies, 48(1), 1217-1242. https://doi.org/10.1111/j.1467-6486.2010.01003.x
Daspit, J.J., Chrisman, J.J., Sharma, P., Pearson, A.W., & Long, R.G. (2017). A strategic management perspective of the family firm: Past trends, new insights, and future directions. Journal of Managerial Issues, 29(1), 6-29.
Dimitratos, P., Johnson, J.E., Plakoyiannaki, E., & Young, S. (2016). SME internationalization: How does the opportunity-based international entrepreneurial culture matter? International Business Review, 25(1), 1211-1222. http://dx.doi.org/10.1016/j.ibusrev.2016.03.006
Durán, P., Kammerlander, N., van Essen, M., & Zellweger, T. (2016). Doing more with less: Innovation input and output in family firms. Academy of Management Journal, 59(4), 1224-1264. https://doi.org/10.5465/amj.2014.0424
Eddleston, K. A., Kellermanns, F. W., & Zellweger, T. M. (2010). Exploring the entrepreneurial behavior of family firms: Does the stewardship perspective explain differences? Entrepreneurship Theory and Practice, 36(2), 347-367. https://doi.org/10.1111/j.1540-6520.2010.00402.x
Fernández, Z., & Nieto, M. (2005). Internationalization strategy of small and medium sized family businesses: Some influential factors. Family Business Review, 18(1), 77-89. https://doi.org/10.1111/j.1741-6248.2005.00031.x
Finkelstein, S., & Hambrick, D. C. (1996). Strategic leadership, top executives and their effects in organizations. Academy of Management Executive, 17(1), 96-109.
Goll, I., Johnson, N. B., & Rasheed, A. A. (2007). Knowledge capability, strategic change, and firm performance: The moderating role of the environment. Management Decision, 45(2), 161-179. https://doi.org/10.1108/00251740710727223
Hambrick, D. C. , & Fukutomi, G. D. S. (1991). The seasons of a CEO’s tenure. Academy of Management Review, 16(1), 719-742. https://doi.org/10.5465/amr.1991.4279621
Herrera-Echaverri, H., Geleilate, J.G., & Gaitan-Riaño, S. (2016). Export behavior and board independence in Colombian family firms: The reverse causality relationship. Journal of Business Research, 69(1), 2018- 2029. https://doi.org/10.1016/j.jbusres.2015.10.147
Herrmann, P., & Datta, D. K. (2005). Relationships between top management team characteristics and international diversification: An empirical investigation. British Journal of Management, 16(1), 69-78. https://doi.org/10.1111/j.1467-8551.2005.00429.x
Hitt, M., & Tyler, B. (1991). Strategic decision models: Integrating different perspectives. Strategic Management Journal, 12(5), 327-351. https://doi.org/10.1002/smj.4250120502
Hsu, W. T., Chen, H. L., & Cheng, C. Y. (2013). Internationalization and firm performance of SMEs: The moderating effects of CEO attributes. Journal of World Business, 48(1), 1-12. https://doi.org/10.1016/j.jwb.2012.06.001
Huse, M., Nielsen, S., & Hagen, I. (2009). Women and employee-elected board members, and their contributions to board control tasks. Journal of Business Ethics, 89(1), 581-597. https://doi.org/10.1007/s10551-008-0018-4
International Monetary Fund. (2017). Report for Selected Countries and Subjects. World Economic Outlook Database. Retrieved on 08-February-2019, from: Retrieved on 08-February-2019, from: https://www.imf.org/external/pubs/ft/weo/2017/02/weodata/index.aspx
Jaw, Y.L., & Lin, W.T. (2009). Corporate elite characteristics and firm’s internationalization: CEO-level and TMT-level roles. The International Journal of Human Resource Management, 20(1), 220-233. https://doi.org/10.1080/09585190802528797
Karra, N., & Phillips, N. (2004). Entrepreneurship goes global. Retrieved on 08-February-2019, from: Retrieved on 08-February-2019, from: https://iveybusinessjournal.com/publication/
Kellermanns, F.W., & Eddleston, K.A. (2006). Corporate entrepreneurship in family firms: A family perspective. Entrepreneurship: Theory and Practice, 30(6), 809-830. https://doi.org/10.1111/j.1540-6520.2006.00153.x
Kirsch, A. (2018). The gender composition of corporate boards: A review and research agenda. The Leadership Quarterly, 29(1), 346-364. https://doi.org/10.1016/j.leaqua.2017.06.001
Le Breton-Miller, I., Miller, D., & Bares, F. (2015). Governance and entrepreneurship in family firms: Agency, behavioral agency and resource-based comparisons. Journal of Family Business Strategy, 6(1), 58-62. https://doi.org/10.1016/j.jfbs.2014.10.002
Li, P.Y. (2018). Top management team characteristics and firm internationalization: The moderating role of the size of middle managers. International Business Review, 27(1), 125-138. https://doi.org/10.1016/j.ibusrev.2017.05.011
Lumpkin, G. T., & Dess, G. G. (1996). Clarifying the entrepreneurial orientation construct and linking it to performance. Academy of Management Review, 21(1), 135-172. https://doi.org/10.5465/amr.1996.9602161568
Martin, W.L., & Lumpkin, G.T. (2003). From entrepreneurial orientation to ¨family orientation¨: Generational differences in the management of family businesses. Retrieved on 08-February-2019, from: Retrieved on 08-February-2019, from: https://fusionmx.babson.edu/entrep/fer/BABSON2003/XII/XII-P2/XII-P2
McDougall, P., & Oviatt, B. (2000). International entrepreneurship: The intersection of two research paths. Academy of Management Journal, 43(1), 902-908. https://doi.org/10.5465/1556418
Meyer, M., Libaers, D., Thijs, B., Grant, K., Glanzel, W., & Debackere, K. (2014). Origin and emergence of entrepreneurship as a research field. Scientometrics, 98(1), 473-485. https://doi.org/10.1007/s11192-013-1021-9
Min, B.S., & Smyth, R. (2014). Corporate governance, globalization and firm productivity. Journal of World Business, 49(1), 372-385. https://doi.org/10.1016/j.jwb.2013.07.004
Mitter, C., Duller, C., Feldbauer-Durstmüller, B., & Kraus, S. (2014). Internationalization of family firms: The effect of ownership and governance. Review of Managerial Science, 8(1), 1-28. https://doi.org/10.1007/s11846-012-0093-x
Molina-Parra, P.A., Botero-Botero, S., & Montoya-Restrepo, A. (2017). Estudios de rendimiento en las empresas de familia. Una nueva perspectiva. Estudios Gerenciales, 33(1), 76-86. http://dx.doi.org/10.1016/j.estger.2016.10.009
Oviatt, B. M., & McDougall, P. P. (2005). Defining international entrepreneurship and modeling the speed of internationalization. Entrepreneurship Theory and Practice, 29(5), 537-554. https://doi.org/10.1111/j.1540-6520.2005.00097.x
Perks, K.J., & Hughes, M. (2008). Entrepreneurial decision - making in internationalization: Propositions from mid-size firms. International Business Review, 17(1), 310-330. https://doi.org/10.1016/j.ibusrev.2007.10.001
Peni, E. (2014). CEO and chairperson characteristics and firm performance. Journal of Management Governance, 18(1), 185-205. https://doi.org/10.1007/s10997-012-9224-7
Pinheiro, R., & Yung, C. (2015). CEOs in family firms: Does junior know what he's doing? Journal of Corporate Finance, 33(1), 345-361. http://dx.doi.org/10.2139/ssrn.1941865
Pukall, T. J., & Calabró, A. (2014). The internationalization of family firms: A critical review and integrative model. Family Business Review, 27(1), 103-125. https://doi.org/10.1177/0894486513491423
Ramón-Llorens, M.C., García-Meca, E., & Duréndez, A. (2017). Influence of CEO characteristics in family firm internationalization. International Business Review, 26(1), 786-799. https://doi.org/10.1016/j.ibusrev.2017.01.007
Reuber, A. R., & Fischer, E. (1999). Understanding the consequences of founders’ experience. Journal of Small Business Management, 37(2), 30-45.
Rivas, J.L. (2012). Diversity & internationalization: The case of boards and TMT´s. International Business Review, 21(1), 1-12. https://doi.org/10.1016/j.ibusrev.2010.12.001
San Martín-Reyna, J.M., & Durán-Encalada, J.A. (2012). The relationship among family business, corporate governance, and firm performance: Evidence from the Mexican stock exchange. Journal of Family Business Strategy, 3(1), 106-117. https://doi.org/10.1016/j.jfbs.2012.03.001
Schumpeter, J. A. (1934). The theory of economic development; An inquiry into profits, capital, credit, interest, and the business cycle. Cambridge, MA: Harvard University Press.
Sepúlveda, J.P., & Bonilla, C.A. (2014). The factors affecting the risk attitude in entrepreneurship: Evidence from Latin America. Applied Economics Letters, 21(8), 573-581. https://doi.org/10.1080/13504851.2013.875104
Sharma, P., & Chrisman, J. J. (1999). Toward a reconciliation of the definitional issues in the field of corporate entrepreneurship. Entrepreneurship Theory and Practice, 23(3), 11-27. https://doi.org/10.1007/978-3-540-48543-8_4
The World Factbook. (2018). Download the World Factbook 2018. Central Intelligence Agency. Retrieved on 08-February-2019, from: Retrieved on 08-February-2019, from: https://www.cia.gov/library/publications/download/download-2018/index.html
Venkataraman, S. (1997). The distinctive domain of entrepreneurship research. In J. Katz (Ed.), Advances in entrepreneurship, firm emergence and growth (Vol. 3, pp. 119-138). Greenwich, CN: JAI Press.
Weerawardena, J., Sullivan, G., Mort, P., Liesch, W., & Knight, G. (2007). Conceptualizing accelerated internationalization in the born global firm: A dynamic capabilities perspective. Journal of World Business, 42(1), 294- 306. https://doi.org/10.1016/j.jwb.2007.04.004
Wei, L.Q., & Ling, Y. (2015). CEO characteristics and corporate entrepreneurship in transition economies: Evidence from China. Journal of Business Research, 68(1), 1157-1165. https://doi.org/10.1016/j.jbusres.2014.11.010
Wilson, N., Wright, M., & Scholes, L. (2013). Family business survival and the role of boards. Entrepreneurship Theory and Practice, 37(1), 1369-1389. https://doi.org/10.1111/etap.12071
Wincent, J., Thorgren, S., & Anokhin, S. (2014). Entrepreneurial orientation and network board diversity in network organizations. Journal of Business Venturing, 29(2), 327-344. https://doi.org/10.1016/j.jbusvent.2013.04.002
Wright, M., De Massis, A., Scholes, L., Hughes, M., & Kotlar, J. (2016). Family business entrepreneurship. London: Institute for Family Business.
Wright, R.W., & Etemad, H. (2001). SMEs and the global economy. Journal of International Management, 7(1), 151-154. https://doi.org/10.1016/S1075-4253(01)00041-2
Zahra, S. A., & George, G. (2002). International entrepreneurship: The current status of the field and future research agenda. In M. A. Hitt, D. R. Ireland, S. M. Camp, and D. L. Sexton (Eds.), Strategic entrepreneurship: Creating a new mindset (pp. 255-288). Oxford, UK: Blackwell.
Zahra, S. A. (1993). Environment, corporate entrepreneurship, and financial performance: A taxonomic approach. Journal of Business Venturing, 8(4), 319-340. https://doi.org/10.1016/0883-9026(93)90003-N
Zahra, S. A. (2003). International expansion of U.S. manufacturing family businesses: The effect of ownership and involvement. Journal of Business Venturing, 18(4), 495-512. https://doi.org/10.1016/S0883-9026(03)00057-0
Zellweger, T. M. , Nason, R.S., & Nordqvist, M. (2012). From longevity of firms to transgenerational entrepreneurship of families: Introducing family entrepreneurial orientation. Family Business Review, 25(2), 136-155. https://doi.org/10.1177/0894486511423531
Zucchella, A., Palamara, G., & Denicolai, S. (2007). The drivers of the early internationalization of the firm. Journal of World Business, 42(1), 268-280. https://doi.org/10.1016/j.jwb.2007.04.008
Downloads
Publicado
Edição
Seção
Licença
Os autores dos artigos serão responsáveis dos mesmos e, assim, não comprometam os princípios ou políticas da Universidade Icesi nem do Conselho Editorial da revista Estudios Gerenciales. Os autores autorizam e aceitam a transferência de todos os direitos para a revista Estudios Gerenciales para a publicão impressa ou eletrônica. Após a publicação do artigo, pode ser reproduzido sem a permissão do autor ou da revista, se mencionar o(s) autor(es), o ano, o título, o volume e o número e o intervalo de páginas da publicação, e Estudios Gerenciales como fonte (se abster de utilizar Revista Estudios Gerenciales).
Como Citar
