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Ownership Dispersion and Capital Structures in Family firms

PublikationArtikel (med peer review)
Dinh Tung Giang, Familjeföretag, Företagandets villkor, Ownership dispersion, Per-Olof Bjuggren

Sammanfattning

Family firms are entities contribute greatly to all economies worldwide. In the following study we investigate capital structures and ownership dispersion among Swedish family firms. In order to find concluding results, we proceed with a regression between leverage and family business, leverage and family firm age, and leverage and ownership dispersion. Our regression outcomes support a U-shaped relationship between family ownership dispersion and leverage, but do not confirm a relation between leverage and family business. Earlier studies made in the field have generated differing results; however, there are some studies that are actually in line with our findings. A unique database developed at Jönköping University is used that enables us to obtain access to firm-level data. Earlier studies in the same genre have only had access to industry-level data.

Related content: Working Paper No. 175

Bjuggren, P-O., Duggal, R. & Giang, D.T. (2012). Ownership Dispersion and Capital Structures in Family firms: A study of closed medium sized enterprises. Journal of Small Business & Entrepreneurship, 25(2), 185-200. DOI: 10.1080/08276331.2012.10593568

Baserat på innehåll

An Anatomy of Failure – Wind Power Development in China
Artikel (med peer review)Publikation
Grafström, J.
Publiceringsår

2021

Sammanfattning

China is currently the world’s largest installer of wind power. However, with twice the installed wind capacity compared to the United States in 2015, the Chinese produce less power. The question is: Why is this the case? This article shows that Chinese grid connectivity is low, Chinese firms have few international patents, and that export is low even though production capacity far exceeds domestic production needs. Using the tools of Austrian economics, China’s wind power development from 1980 to 2016 is documented and analyzed from three angles: (a) planning and knowledge problems, (b) unproductive entrepreneurship, and (c) bureaucracy and government policy. From a theoretical standpoint, both a planning problem and an entrepreneurial problem are evident where governmental policies create misallocation of resources and a hampering of technological development.

Spin-in and spin-out for growth – On the acquisition and divestiture of high-tech firms
Artikel (med peer review)Publikation
Öberg, C.
Publiceringsår

2021

Sammanfattning

Purpose: This paper describes and discusses company spin-ins and spin-outs as a means to understand company growth in a dynamic context. The following question is asked: How can growth be understood in spin-ins and spin-outs of innovative firms? The paper suggests return on capabilities as a measure to understand growth in an open innovation context.

Design/methodology/approach: The empirical part of the paper consists of a single case study. Data was captured through interviews and secondary data sources.

Findings: The paper points to that resources alone do not explain strategic decisions by a company and how spin-ins and spin-outs result from the need for capabilities, changes in business foci and temporary solutions to deal with overcapacities or lack of alternatives.

Originality/value: The paper contributes to research by discussing contemporary issues in strategy and innovation and relating them to the resource-based view and the growth of the firm. Spin-outs, and acquisitions and divestitures as interlinked events have rarely been focused on in the literature, while they remain frequent phenomena in practice.

Effects of employees’ opportunities to influence in-store music on sales: Evidence from a field experiment
Artikel (med peer review)Publikation
Daunfeldt, S.-O., Moradi, J., Rudholm, N., Öberg, C.
Publiceringsår

2021

Sammanfattning

The effects of in-store music on consumer behavior have attracted much attention in the marketing literature, but surprisingly few studies have investigated in-store music in relation to employees. By conducting a field experiment in eight Filippa K fashion stores in Stockholm, Sweden, we investigate whether it is beneficial for store owners to give employees more opportunities to influence the in-store music. We randomly assigned the stores into a treatment group and a control group, with the employees in the treatment stores having the opportunity to influence the in-store music through an app developed by Soundtrack Your Brand (SYB). The experiment lasted 56 weeks and sales data were also gathered 22 weeks before the experiment, resulting in a total of 4626 observations. Our results show that sales decreased by 6% when the employees had the opportunity to influence the music played in the store, and the effect is driven by a reduction in sales of women’s clothing. Interviews with the employees revealed that they had diverse music preferences, frequently changed songs, and preferred to play high-intensity songs. Employees thus seem to make choices regarding the in-store music that reduce sales, implying that store owners might want to limit their opportunities to influence the background music.

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