Survival mode: how Latin American family firms are coping with the pandemic

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Edgar Rogelio Ramírez-Solís ◽  
Maria Fonseca ◽  
Fernando Sandoval-Arzaga ◽  
Ernesto Amoros
Keyword(s):  
Latin America ◽  
Latin American ◽  
Online Survey ◽  
Family Firms ◽  
Family Businesses ◽  
Future Research ◽  
Special Focus ◽  
Content Type ◽  
June July ◽  
Family Entrepreneurship

Purpose The main objective of this manuscript is to describe the current situation of a sample of family business and their response to COVID-19 pandemic. This exploratory study analyzes a series of challenges faced by this type of firm in Latin America. This study puts special focus on how the pandemic is impacting transgenerational and family entrepreneurship and the sense of legacy in family businesses. Design/methodology/approach The authors performed an online survey during June–July 2020. The survey includes 20 questions to owners or executives of family businesses about how they had been facing the onslaught of the COVID-19 pandemic in their companies. The authors received 194 valid respondents from firms that have their headquarters in Mexico, Colombia, Venezuela, Peru, Chile and other Latin American countries. Findings The empirical analysis shows that family firms in Latin America have managed to survive and stay current through family entrepreneurship, protecting their heritage and relying on legacy. Out of four main competencies, “family entrepreneurship” was the most important on which business families relied to face this crisis. Research limitations/implications The authors were able to gather information from just under 300 participants. However, the authors decided to take into account only those complete responses in the survey, so the present analysis was carried out on the valid sample of 194 respondents. Practical implications The results of this study show that business families have managed to survive and stay current through family entrepreneurship, protecting their heritage and relying on legacy. Strategic leadership and intergenerational dynamics alone are not enough to face this crisis. Social implications Family firms, like other companies, have shifted their mindset over the last months from “how can we grow” to “how can we survive”. Consequently, what competencies are necessary to develop so that family businesses can cope with this and the following crises? How are Mexico and Latin America’s family-owned businesses navigating the economic disruptions resulting from COVID-19? This paper explores the role of family firms in the wake of the COVID-19 outbreak. Originality/value This study provides an overview of the coping mechanisms that some family businesses are implementing to overcome the challenges during the pandemic, putting focus on the specific context of Latin America. Family businesses represent approximately 60% of the region’s GDP, so their survival is completely relevant in terms of not only economic impact but also social development. Future research and implications are discussed.

Management and sustainability dilemmas in Latin America: introduction

2021 ◽  
Vol 34 (1) ◽  
pp. 1-17
Author(s):  
Olivia Hernandez-Pozas ◽  
Maria Jose Murcia ◽  
Enrique Ogliastri ◽  
Miguel R. Olivas-Lujan
Keyword(s):  
Latin America ◽  
Latin American ◽  
Design Methodology ◽  
Future Research ◽  
Content Type ◽  
Literature Reviews ◽  
Editorial Work ◽  
Different Dimensions ◽  
Sustainability Challenges ◽  
Specific Contribution

PurposeThis article introduces readers to the Special Issue (SI, 34-1) of ARLA, edited (not exclusively) with the best papers of the Academy of Management's Specialized Conference, scheduled for April 2020 in Mexico City. The COVID-19 pandemic forced its cancellation, but the expert peer review and editorial work continued, to contribute to the emerging literature on Latin American Management and Sustainability.Design/methodology/approachGuest editors contributed their expertise based on required editorial processes and focused literature reviews on Management and Sustainability.FindingsThere are large management and sustainability challenges to Latin American practitioners and researchers, resulting in an increasingly urgent need to systematically document similarities and differences in the fields of Management and Sustainability. It is so because the region has been affected as few others before, during and after the pandemic. Thus, this issue summarizes the literature, presents eight new studies and offers suggestions for future research.Research limitations/implicationsManagement and sustainability in Latin America are wide subjects, with different dimensions and issues. This is a specific contribution that leaves much ground to be covered in the different subfields of the area, in research methodologies and conclusions.Originality/valueAn agenda for advancing the field of management and sustainability in Latin America, highlighted by the COVID-19 disruption; additionally, eight of the most advanced research in the field are presented, chosen from two tracks of a large number of contributions to a recent specialized conference organized by the Academy of Management.

Viewpoint: the need to evolve to a service logic mindset in Latin America

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Javier Reynoso
Keyword(s):  
Latin America ◽  
Latin American ◽  
Paradigm Shift ◽  
Journal Article ◽  
Service Organizations ◽  
Service Research ◽  
Future Research ◽  
Original Research ◽  
Content Type ◽  
Service Logic

Purpose The purpose of this viewpoint is to discuss the need to evolve from a service marketing approach to a service logic mindset throughout the organization in Latin America. In doing so, it addresses a void in the service literature due to the lack of attention on its uniqueness in this region. Design/methodology/approach To confirm the predominant approach of studying service and the need for a paradigm shift in service organizations, two independent journal article searches during 1989–2020 were conducted. The purpose was to learn where Latin American service researchers are focusing their research efforts and to discuss how the meaning of service applies to this region. Findings Forty-eight journal articles were analyzed and six distinctive groups were identified where service researchers are focusing their work on Latin America. Service has been studied mainly from the marketing perspective; with limited original research published in indexed journals; focused on making product-oriented promises, increasingly enabled by technology. The need for developing a service logic mindset throughout the organization has begun to be emphasized rather recently in the field. The variety of meanings of service and the complex context represent challenges for this enterprise. Research limitations/implications Future research is needed to work on a more comprehensive conceptualization of service at higher levels of analysis. Further context studies are required to enrich knowledge on service in Latin America. Service researchers and organizations should work on these two challenges to continue moving from the marketing perspective of service to a service logic mindset throughout the organization. Originality/value The paper points out the relevance of conducting further service research in Latin America, arguing that service has been studied mainly from the marketing perspective, and claiming the need to move to a service logic mindset. This viewpoint opens a discussion in the service research community toward a paradigm shift that, although inspired in Latin America, may not be necessarily limited to this region.

Knowledge transfer in family business successions

2015 ◽  
Vol 5 (1) ◽  
pp. 17-37 ◽  
Author(s):  
Britta Boyd ◽  
Susanne Royer ◽  
Rong Pei ◽  
Xiaolei Zhang
Keyword(s):  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Theory And Practice ◽  
Future Research ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Reasoning

Purpose – Knowledge often is the fundament for strategic competitive advantage. Thus, it is highly relevant to understand better how knowledge is transferred from one generation to the next in family businesses. The purpose of this paper is to link the competitive advantage realisation in family businesses to the success of transferring strategically valuable knowledge in different business environments to the next generation. Design/methodology/approach – Building on the contingency model of family business succession (Royer et al., 2008) knowledge transfer in family businesses from different cultures is investigated in this paper. From a resource-oriented and transaction cost inspired perspective two family businesses with a similar industry background from China and Europe are compared regarding knowledge transfer in the context of family firm succession taking into account the respective transaction atmosphere. Findings – Different successions for two long-lived family firms are illustrated in a systematic fashion: based on the theoretical elements suggested both cases are described to get insights into the usefulness of the theoretical reasoning developed. On the basis of these, the cases are compared with each other and conclusions for both cases are drawn. Implications for theory and practice as well as avenues for future research are sketched. Originality/value – The focus of the current study is to gain more insight into long-lived family businesses by comparing two cases over a period of more than 200 years with regard to strategically relevant resources as well as the underlying transaction atmospheres. Implications for family firms depending on the resource types and transaction atmosphere are discussed.

scholarly journals Formal compensation practices in family SMEs

2017 ◽  
Vol 24 (1) ◽  
pp. 88-104 ◽  
Author(s):  
Anneleen Michiels
Keyword(s):  
Family Business ◽  
Best Practice ◽  
Family Firms ◽  
Family Businesses ◽  
Future Research ◽  
Cross Sectional ◽  
Content Type ◽  
Communication Device ◽  
Family Smes ◽  
Business Practitioners

Purpose By investigating the use of formal compensation practices in family small- and medium-sized enterprises (SMEs), the purpose of this paper is to provide important new insights in these issues for academics, as well as family business practitioners, prospective applicants and financiers of family businesses. Moreover, this study includes a contingency that allows to explore heterogeneity across family businesses in their use of formal compensation practices: the CEO type. Design/methodology/approach A survey of 124 small- and medium-sized Belgian family businesses to explore the use of formal compensation practices is analyzed by the author. Findings The results support the hypothesis that family firms with a family CEO adopt significantly less formal compensation practices than their counterparts that are led by a non-family CEO. Research limitations/implications Generalizing the findings of this study must be taken with care, as the findings are based on a cross-sectional sample of family SMEs in one country, Belgium. Future research can build on these findings with studies on larger samples in other countries. Practical implications This study may be interesting for family business practitioners and consultants, as it provides insight in the actual use of formal compensation practices that are recommended as a best practice in numerous practitioner handbooks. Also, the results of this study might be important for prospective applicants and financiers, since the compensation system is an important communication device to signal legitimacy to external stakeholders. Originality/value Compensation issues are among the main challenges SMEs, especially family firms, face. Despite the clear importance of this matter, academic interest has been rather limited. This paper therefore displays sound descriptive survey results and empirically investigates the determinants of the use of formal compensation practices in Belgian family SMEs by distinguishing between different types of family businesses.

State of the organizational learning field in Latin America and the Caribbean

2020 ◽  
Vol 27 (2) ◽  
pp. 147-161 ◽  
Author(s):  
Jane Lucia Silva Santos ◽  
Andrea Valéria Steil ◽  
David Joaquin Delgado-Hernández
Keyword(s):  
Latin America ◽  
Organizational Learning ◽  
Learning Styles ◽  
Latin American ◽  
Future Research ◽  
Content Type ◽  
Process Learning ◽  
Systematic Strategy ◽  
The Caribbean ◽  
And Cluster Analysis

Purpose The purpose of this paper is to summarize the main methods and themes used on organizational learning (OL) and learning organization (LO) research in Latin American and the Caribbean. Design/methodology/approach A literature review was conducted by means of a broad and systematic strategy to locating, selecting and analyzing papers on OL/LO, written in different languages (English, Portuguese and Spanish). Systematic searches were carried out at the two databases (Web of Science’s Social Sciences Citation Index and Scopus), and 15 specific Latin American and Caribbean journals were identified as data sources for the review. A thematic analysis was carried out using NVivo and cluster analysis. Findings In all 79 papers published between 2000 and 2017 were included in the synthesis and results: 18 are theoretical papers and literature reviews and 61 are empirical papers (30 qualitative, 24 quantitative and 7 multiple methods). These empirical papers revealed the study of the OL/LO concepts in organizations located mainly in Brazil, Venezuela, Chile, Colombia, El Salvador, Mexico and Costa Rica. Five topics represent the main themes addressed on OL/LO studies in Latin America and the Caribbean and are avenues for future research in the field: (i) knowledge and KM (i.e. knowledge management), (ii) culture and leadership, (iii) innovation and improvement, (iv) learning (for example, learning process, learning styles), and (v) entrepreneurship and sustainability. Originality/value This paper provides a summary of the research methods and themes used in the OL/LO field in Latin America and the Caribbean, suggesting insights for future research.

Characterizing HIV risk among cisgender men in Latin America who report transgender women as sexual partners

2018 ◽  
Vol 30 (4) ◽  
pp. 378-385 ◽  
Author(s):  
Sari L Reisner ◽  
Amaya Perez-Brumer ◽  
Catherine E Oldenburg ◽  
Kristi E Gamarel ◽  
Jowanna Malone ◽  
...  
Keyword(s):  
Latin America ◽  
Latin American ◽  
Sexual Partner ◽  
Online Survey ◽  
Transgender Women ◽  
Sexual Partners ◽  
Future Research ◽  
Cross Sectional ◽  
Logistic Regression Models ◽  
Condomless Sex

Cisgender men (CM) who report transgender women (TW) as sexual partners are an understudied population in the HIV epidemic in Latin America. The current study sought to characterize this group in a 2012 cross-sectional online survey of Latin American CM who were members of a sexual networking website for men who have sex with men (N = 11,847). Multivariable logistic regression models were fit to estimate demographic, behavioral, and psychosocial correlates of having a TW sexual partner and engaging in condomless sex. Overall, 0.9% (n = 106) reported a TW sexual partner in the last 12 months; of these, 76.4% (n = 81) reported condomless sex in the last three months. Identifying as bisexual or heterosexual compared to gay, and specifying a versatile sexual role preference compared to insertive were associated with reporting a recent TW sex partner (all p < 0.05). HIV-negative serostatus, lifetime STI history, and alcohol dependence were associated with recent condomless sex (all p < 0.05). CM with TW sexual partners have distinct HIV-related vulnerabilities. Future research is needed to understand CM who report TW sexual partners, including their sexual preferences and practices, sexual networks, exposure to stigma, biomedical prevention interest and uptake, and acceptability of integrating alcohol abuse screening into sexual health services.

Corporate governance in the largest family firms in Latin America

2020 ◽  
Vol 27 (2) ◽  
pp. 137-163
Author(s):  
Pedro Vazquez ◽  
Alejandro Carrera ◽  
Magdalena Cornejo
Keyword(s):  
Corporate Governance ◽  
Latin America ◽  
Board Of Directors ◽  
Latin American ◽  
Family Firms ◽  
Family Influence ◽  
Family Management ◽  
Content Type ◽  
Governance Model ◽  
The Board Of Directors

PurposeThe aim of this study is to explore and understand corporate governance patterns in family firms across Latin America. This is in response to several calls in the academic literature urging for more empirical studies in corporate governance in developing regions.Design/methodology/approachFollowing a configurative perspective, a hierarchical cluster analysis is applied to a sample of the 155 largest Latin American family firms.FindingsThe authors identify three main corporate governance configurations across Latin American countries. First, the exported governance model resembles many characteristics of Anglo-American and Continental Europe governance patterns of public listed control, having independence from the board of directors, and mainly hiring non-family management. Second, the super-familial governance model describes private ownership where one or multiple families control both the board of directors and the top-management team. Finally, the hybrid governance model is the largest cluster identified in the sample and combines governance characteristics of both of the foregoing configurations. This configuration exhibits ownership structured through public offerings of shares combined with leadership of the board of directors by a family member as well as moderate family influence on the board and management.Originality/valueThis is the first study to investigate corporate governance in the largest listed and privately-owned family firms in Latin America. The article extends the conversation on family firm heterogeneity and contributes to the configurative approach in the family business field by offering a cross-country perspective and identifying meaningful taxonomies that are applicable beyond national boundaries.

scholarly journals AB1270 RHEUMATOLOGY WORKFORCE IN LATIN AMERICA: TRAINING AND CURRENT STATUS

2020 ◽  
Vol 79 (Suppl 1) ◽  
pp. 1926.1-1926
Author(s):  
D. G. Fernández-Ávila ◽  
D. Patino-Hernandez ◽  
S. Kowalski ◽  
A. Vargas-Caselles ◽  
A. M. Sapag Durán ◽  
...  
Keyword(s):  
Latin America ◽  
Costa Rica ◽  
Latin American ◽  
Online Survey ◽  
Supply And Demand ◽  
Current Status ◽  
Future Research ◽  
Research Support ◽  
Residency Programs ◽  
Postgraduate Studies

Background:The demand for rheumatology care has been steadily increasing over the last few years. However, supply seems to be insufficient, according to previous research1. This situation may be at least partly explained by less physicians beginning a rheumatology residency program2.Objectives:We aim to identify baseline data, room for change, and to strengthen functional processes associated with the rheumatology workforce in order to improve care offered to patients living with rheumatic diseases.Methods:Descriptive cross-sectional study. We obtained data on each country through local PANLAR rheumatologists. They completed an online survey using the RedCap® platform, used for capture and storage of data. The sample was described according to the type of variable.Results:19 Latin American countries were included in this study, globally 1 rheumatologist was available per 106,838 inhabitants. The highest rates were found in Uruguay (1 per 23.695 inhabitants) and Argentina (1 per 40.384 inhabitants). The lowest rates were found in Nicaragua (1 per 640.648 inhabitants) and Guatemala (1 per 559.902 inhabitants). The ratio between women and men rheumatologists was 0,99 women per each man. The lowest proportions were found in Peru (0,26:1), and the highest in the Dominican Republic (2.5:1). The average age for rheumatologists was 51,6 (SD12,75). Lowest average ages were found in Paraguay (43,1 SD10,77) and the highest age averages were found in Peru (56,23 SD12.93). The average monthly compensation was USD $2.382,6 (SD$1.462,5). Venezuela had the lowest salary ($197), the highest salary was found in Costa Rica ($4.500). The proportion of rheumatologists trained abroad was 26,7%, ranging between 0% in Uruguay and 90% in Bolivia.The countries with more rheumatology training programs were Brazil n = 50 and Mexico n = 20, while Ecuador, Honduras and Nicaragua don’t have any. The countries with the greatest amount of active residents were Brazil (n = 252) and Argentina (n = 100). The educational level required to enter the program was postgraduate studies in internal medicine in 42.11% of the programs. Currently, 108 residency programs in Latin America are active. Duration of residency programs is variable: 2 years (79.63% of cases), 3 years (16.67%), 4 years (1.85%), 5 years (0.96%) or 6 years (0.96%). The median monthly compensation for residents was $ 528 USD (IQR $ 774), the country with the highest payment was Costa Rica ($ 2637). Contrarily, in Cuba, Chile and Colombia there is no payment to residents. Finally, in 8 countries (42.11%) residents must not pay for their postgraduate studies, the average annual tuition expense in the rest of countries is $ 1248 (SD $ 2749).Conclusion:The rate of rheumatologists per inhabitant is low. The demographic characteristics and the current status of the rheumatology workforce, as well as rheumatology training in Latin-America varies widely among countries. For instance, relevant differences can be found regarding payment to rheumatologists and residents, and tuition fees. The collected information will be useful when planning regional-based strategies, as well as for future research projects in each country and within PANLAR.References:[1]Battafarano DF, Ditmyer M, Bolster MB, et al. 2015 American College of Rheumatology Workforce Study: Supply and Demand Projections of Adult Rheumatology Workforce, 2015-2030. Arthritis Care Res.2018;70(4):617-26[2]Zborovski S, Rohekar G, Rohekar S. Strategies to improve recruitment into rheumatology: results of the Workforce in Rheumatology Issues Study. J Rheumatol. 2010;37:1749-55Disclosure of Interests:Daniel G. Fernández-Ávila: None declared, Daniela Patino-Hernandez: None declared, Sergio Kowalski: None declared, Alfredo Vargas-Caselles: None declared, Ana María Sapag Durán: None declared, Antonio Cachafeiro Vilar: None declared, Belia Meléndez: None declared, Carlos Santiago Pastelín: None declared, Cesar Graf: None declared, Chayanne Rossetto: None declared, Daniel Palleiro: None declared, Daniela Trincado: None declared, Diana Fernández-Ávila: None declared, Dina Arrieta: None declared, Gil Reyes: None declared, Jossiell Then: None declared, Manuel F. Ugarte-Gil Grant/research support from: Jannsen, Pfizer, Mario Cardiel: None declared, Nelly Colman: None declared, Nilmo Chávez: None declared, Paula Burgos: None declared, Ruben Montufar: None declared, Sayonara Sandino: None declared, Yurilis Fuentes-Silva: None declared, Enrique Soriano Grant/research support from: AbbVie, Eli Lilly, GlaxoSmithKline, Novartis, Pfizer Inc, Sandoz, Consultant of: AbbVie, Eli Lilly, GlaxoSmithKline, Novartis, Pfizer Inc, Sandoz, Speakers bureau: AbbVie, Amber, Bristol-Myers Squibb, Eli Lilly, Novartis, Pfizer Inc, Roche

The financial decisions of family businesses

2017 ◽  
Vol 7 (3) ◽  
pp. 351-373 ◽  
Author(s):  
Anna Motylska-Kuzma
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Future Research ◽  
Content Type ◽  
Financial Decisions ◽  
Financial Decision Making ◽  
The Family ◽  
Financial Decision

Purpose The purpose of this paper is to examine the status, trends and potential future research areas in the field of financial decision-making process in family firms. Design/methodology/approach The bibliometric indicators and methods are applied in order to describe the publication activity and to analyze the contents of the articles. The material examined are the journals included in the SCOPUS, SAGE and EBSCO database and the peer-reviewed article, which contain in their titles, keywords or abstracts with a combination of phrases “family firms,” “family business” or “family enterprise” with “financial decision” or one of the subcategories: capital structure, investment decision, capital budgeting, working capital management or dividend policy. The study covers the period from 2000 to 2016. Findings Although the interest in family business research is growing rapidly, the area of financial decision making is underestimated. Despite of the fact that the vast majority of the studies into financial decisions in family firms is are focused on the capital structure, they do not give clear answers to the question of how the family businesses behave in this scope and what their true financial logic is. Additionally, the area of the investment decisions and dividend policy is rather not better left uncovered. Research limitations/implications The analyses enable the identification of potential avenues for future research which could be vital to make an advancement in the consolidation of the discipline. Practical implications The analyses ought to have a potential meaning mainly for external institutions (especially financial institutions) in better understanding of the family businesses and their point of view. Originality/value This paper fulfills the need of a comprehensive review of financial decision making process in family firms. It provides a literature review and bibliography for the period between 2000 and 2016 for the use of both academicians and practitioners.

Corporate governance in family businesses from Latin America, Spain and Portugal

2016 ◽  
Vol 29 (3) ◽  
pp. 231-254 ◽  
Author(s):  
Diógenes Lagos Cortés ◽  
Isabel C. Botero
Keyword(s):  
Corporate Governance ◽  
Latin America ◽  
Family Firms ◽  
Systematic Approach ◽  
Small Sample ◽  
Future Research ◽  
American Family ◽  
Governance System ◽  
Content Type ◽  
Governance Choices

Purpose The purpose of this paper is to summarize what is known about corporate governance in family firms from Ibero-American countries based on published research. Methodology The authors conducted a literature search to identify the articles that have been published about the corporate governance of family firms in Latin America, Spain, and Portugal between 1980 and 2014. The authors found 38 articles that provide the sample for this review. Findings The results indicate that research on governance in Ibero-American family firms has focussed on understanding structures and processes related to the business and ownership systems. However, generalization of results across the region is difficult because of the lack of systematic approach of studies and the focus on a small number of countries. Research limitations/implications There are at least two limitations of this work: the small sample of projects identified for the review and the lack of systematic approach to research. Both of these may be due to the importance given to publishing the university context in this part of the world. As the culture of knowledge changes, the authors expect that research in this area will grow. Originality/value Although previous research indicates that cultural characteristics affect governance system choices and understanding of family firms, not many studies explore the importance of culture in governance choices of family firms. This paper provides a baseline of the understanding of governance in Ibero-American family firms, and identifies important area for future research.

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