Business, Enterprise & Management
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Item Female directors, family ownership and firm performance in Jordan(Sciedu Press, 2019-11-06) Saidat, Zaid; Seaman, Claire; Silva, Mauricio; Al-Haddad, Lara; Marashdeh, ZyadThis study examines the impact of female directors on the financial performance of family and non-family Jordanian firms. A sample of 103 Jordanian public firms listed on Amman Stock Exchange for the time period 2009-2015 was selected. The study had a quantitative approach and used a panel data methodology. The data analysis was conducted using Ordinary Least Square Regression. ROA and Tobin’s Q were deployed as measurement of financial performance. The appointment of female directors does not have any significant impact on the financial performance of family firms. However, with regard to non-family firms, female directors appeared to have a negative impact on the performance of these firms. The impact of female directors on family firm performance merits further research in the context of different countries and cultures. Appointments based on qualifications and expertise is more likely to have a positive impact. Jordan is an under-researched area where the impact of female directors on the firm performance would merit further research. Differentiating between the impact of female directors on family and non-family firms would also merit further research, especially in the context of the conditions under which they are appointed.Item Editorial for new insights into SMEs: Finance and family SMEs in a changing economic landscape(Emerald, 2019-03-14) Silva, Mauricio; Monferrà, Stefano; Meles, AntonioItem Financing decisions of migrant family businesses: The case of a Ghanaian-owned shop in Kent(Emerald, 2018-12-05) Boateng, Bernard; Silva, Mauricio; Seaman, ClaireThe analysis of new enterprise funding and the financial strategies once in operation has been usually associated to mainstream sources of finance for which there is a standard quantitative method of analysis that relies on readily available information such as interest rates, credit risk analysis, collateral and guarantees, business and sector performance metrics among others. These variables are usually considered at the detriment of other qualitative factors that are difficult to measure and adapt to the rational analysis methodologies generally used and accepted by financial markets and institutions: these include but are not limited to the influence of family ties, cultural traditions, social networks, human capital, and individual attitudes towards money management and financial institutions. Thus we can hypothesise that the influence of social and cultural elements will tend to be more nuanced when the financial decision-making process within the realm of an immigrant family business with transnational social networks and distinct financial goals. The aim of the paper is to share the preliminary findings of a study on the social and cultural factors influencing the financial decision making process of Ghanaian migrant family businesses in the UK. The overarching goal of the research project is to deepen our understanding of immigrant Ghanaian family businesses in the UK and the strategies they adopt when interacting with mainstream financial institutions and informal sources of funding to start up and manage their ventures. The data was obtained through face-to-face interviews with a Ghanaian shop owner in Kent and her observations and thoughts on the process of making financial decisions and developing their enterprise. This was analysed through the prism of Social Network theory and focused on influences such as family, cultural and social factors. The main elements identified as having perceptible yet varying effects on the business owner’s decision making included but were not limited financial decisions being influenced to family, cultural, social networks, and individual attitudes towards mainstream institutions. Significantly, ‘Family ties and Influence’ was the factor identified as having the most influence in the financial decision making process. The key finding of this initial research exercise was that ‘non-rational’ drivers of financial decision-making were skewed towards an internally generated process unrelated to commonly accepted business growth strategies. This is of course a very limited finding as the case study by definition signifies the information is insufficient to support a clear conclusion; however the next phase of the research exercise should provide deeper and richer data for analysis.Item The relationship between corporate governance and financial performance: Evidence from Jordanian family and nonfamily firms(Emerald, 2018-12-10) Saidat, Zaid; Silva, Mauricio; Seaman, ClaireThe main objective of this article is to attempt to fill a research gap in the relationship between corporate governance mechanisms and financial performance of family and nonfamily firms’ by using a sample of non-financial firms listed on Amman Stock Exchange for a period 2009 to 2015. Although, the concerns of corporate governance and firm’s ownership structure have recently attracted serious attention from scholars, policymakers, and academic institutions, a large number of empirical works found no clear link between corporate performance and corporate governance. In addition, the research into how the corporate governance has an influence on family firms, especially in emerging countries is still unclear. In particular, Jordan as an emerging market has not been the focus of previous studies, particularly with regard to corporate governance in family firms.Item Family Values: Influencers in the Development of Financial and Non-financial Dynamics in Family Firms(Palgrave Macmillan, 2018-09-06) Seaman, Claire; Silva, Mauricio; Bent, Richard; Dibrell, Clay; Memili, EsraThe role of family values is considered here as one potential contributor to heterogeneity. The pursuit of profit as an end goal may be key for many family businesses, but there are well-documented cases of businesses where corporate citizenship and philanthropy are integral to the business model. Earlier work has highlighted that where one family has a predominant level of control in a business, their family values may assume greater importance and thereby be more likely to influence strategy. Within this chapter, we propose that the concentration of family values that occurs when one family has a predominant level of control within the business may be a key contributor to the development of financial and non-financial dynamics, representing one way in which strategy is developed and implemented.Item "Blind we are, if creation of this clone army we could not see." George Lucas(2008-09-11) Bent, Richard; Seaman, Claire; Graham, Stuart; Silva, MauricioThe 'decline' and 'cloning' of the traditional high street coupled with the demise of the 'small' retailer is often cited as a negative aspect of modern society and even regarded as a causal factor supporting many of societies current ills. This paper challenges that assertion, arguing that our view of the traditional high street is often seen through 'rose tinted spectacles' and that in order to improve and proceed we should question the 'traditional' view of the independent high street operator. The paper argues that in order for the high street to develop and provide new and innovative outlets amongst the large scale chains a better form of knowledge transfer, business development and support needs to be developed. The team firstly look at the process of knowledge transfer within the small and often family run business environment. It then introduces the Edinburgh Hedge Model which is designed to illustrate the barriers and issues to engagement and business development from the process of transferring knowledge and learning to and from the independent/small business. The paper concludes by considering suggestions for further developments that would support and improve engagement, enhancing the business/high street proposition and the development of strong sustainable and varied businesses.Item Minority ethnic businesses - so are we really saying that one size fits all?(Inderscience Publishers, 2009-12-27) Bent, Richard; Seaman, Claire; Silva, MauricioA model will be introduced to illustrate the synthesis of the issues raised and allow a pedagogical approach to be considered for future business intervention. It is widely recognised that SME success is a key factor to the health of the UK economy, yet the efficacy of business support and development is questioned by all sides. This work suggests the urgent need to identify 'real needs', effective business support and improved approaches for knowledge transfer. The paper is also designed to stimulate debate and question some of the existing methods, processes and views that are utilised in business support. It is hoped that by developing a better understanding of the needs and dynamics of both the minority and the wider SME market in general, a better use of support and (often limited) resources can be made. If business support is improved, then it is envisaged that this would cascade outwards and provide long-term social, community, entrepreneurial and economic benefits towards a 'healthier' nation.Item Measuring the financial capability of minority ethnic business owners in Scotland(Inderscience Publishers, 2010-12-27) Silva, Mauricio; Bent, Richard; Seaman, ClaireThis paper aims at prompting a discussion on the need to measure the financial capability of non-traditional minority ethnic business owners in Scotland in order to enhance the provision of business support. This would be achieved through a targeted 'needs based' approach that offers a better understanding of the viability of their enterprises and the most efficient use of available funds to meet their objectives. A literature review will identify current research on financial capability focusing on definitions and measurement, methodologies, questionnaires, and findings. The review will also help to develop a framework for a model of business owner financial capability that will be tested in current research being conducted on Latin American business owners in Scotland. Discussion and research should provide a starting point in the research of mechanisms to efficiently deliver financial support to minority ethnic businesses, and the paper aims to encourage contributions and participation to build an understanding of financial capability in the context of minority ethnic businesses. This discussion has profound implications to the provision of business support and economic growth in Scotland: it entails structuring knowledge based dialogues between consultants and the beneficiaries of sponsored backing to promote mutually beneficial outcomes to financial decisions.