The Influence of Governance Structures on Family Firm Internationalization

Inhaltsverzeichnis (Table of Contents)

• Abstract
• Introduction
• Methodology
• Results
  • Family and internationalization
    • Family ownership and internationalization
    • Family involvement and internationalization
  • CEO and internationalization
    • Family CEO vs. nonfamily CEO
    • Individual characteristics of family CEOs
  • Board and internationalization
    • Board composition
    • Board tasks
    • Board Independence
    • Moderating effect on family CEO
• Conclusion and suggestions for future research
• References

Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)

This paper explores the influence of firm- and family-level governance structures on the internationalization of family firms. The study aims to provide a comprehensive overview of existing research in this area by reviewing 19 theoretical and empirical studies conducted between 2016 and 2023. The main objectives are to:

• Identify the corporate governance mechanisms analyzed in the field of family firm internationalization.
• Examine how these mechanisms affect family firm internationalization.
• Analyze the theoretical frameworks used to study the relationship between corporate governance and family firm internationalization.

Key themes explored in the paper include:

• The role of family ownership and involvement in internationalization decisions.
• The impact of CEO characteristics and leadership style on internationalization strategies.
• The influence of board composition, tasks, independence, and other governance mechanisms on internationalization outcomes.
• The interplay between family and firm objectives in internationalization.
• The role of heterogeneity in governance structures and its impact on internationalization strategies.

Zusammenfassung der Kapitel (Chapter Summaries)

This preview does not contain any information about the conclusion or final chapter.

Introduction

This chapter provides an overview of the importance and prevalence of family firms in the global economy. It highlights the unique characteristics and challenges of family firms in terms of internationalization, particularly the conflict between family socioemotional wealth and firm economic well-being.

Methodology

This chapter outlines the methodology used in the literature review, including the keywords used for database searches and the criteria for selecting the included studies. It emphasizes the focus on internationalization scale and scope, as well as the analysis of family- and firm-level governance structures.

Results

The "Results" section is divided into three parts: family ownership and involvement, the CEO, and the board of directors. Each part examines the effects of different governance structures on internationalization scale and scope, drawing on key findings from existing research.

Family and internationalization

This section explores the relationship between family ownership and involvement and the internationalization of family firms. It discusses how family goals, identification with the business, and local network ties can influence internationalization decisions.

CEO and internationalization

This section focuses on the role of the CEO in family firm internationalization. It examines the differences between family CEOs and nonfamily CEOs in terms of their internationalization orientations and leadership styles.

Board and internationalization

This section analyzes the influence of board composition, tasks, independence, and other governance mechanisms on family firm internationalization. It investigates how board characteristics can moderate the impact of family CEO decisions on internationalization outcomes.

Schlüsselwörter (Keywords)

The main keywords and focus topics of the paper are family firms, internationalization, governance structures, family ownership, family involvement, CEO characteristics, board composition, board independence, internationalization scale, internationalization scope, and theoretical frameworks. These terms represent the core concepts and research areas explored in the literature review.