IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v156y2023ics0148296322009973.html
   My bibliography  Save this article

High-performance work systems in family firms: A mixed gamble approach

Author

Listed:
  • Peláez-León, Juan David
  • Sánchez-Marín, Gregorio

Abstract

Research on the use of high-performance work systems (HPWSs) in family firms has yielded mixed evidence. This study aims to bridge this gap by using the socioemotional wealth (SEW) approach and the behavioral agency model (BAM) to explain why certain family firms have a greater incentive to use HPWS. We argue that the decision of family firms to implement HPWS is part of a mixed-gamble scenario of balancing risks with financial and family wealth prospects. Our results from 453 Spanish medium-sized and private family firms confirm that the importance of preserving SEW has a positive effect on the adoption of HPWS and that this influence is particularly pronounced in high-risk firms whose management is mainly controlled by family members and by the second generation. These findings contribute to the literature by explaining how using HPWS by family firms is significantly contingent on business risk.

Suggested Citation

  • Peláez-León, Juan David & Sánchez-Marín, Gregorio, 2023. "High-performance work systems in family firms: A mixed gamble approach," Journal of Business Research, Elsevier, vol. 156(C).
    • Handle: RePEc:eee:jbrese:v:156:y:2023:i:c:s0148296322009973
    DOI: 10.1016/j.jbusres.2022.113532
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296322009973
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2022.113532?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Tsao, Chiung-Wen & Chen, Shyh-Jer & Wang, Yi-Hsien, 2016. "Family governance oversight, performance, and high performance work systems," Journal of Business Research, Elsevier, vol. 69(6), pages 2130-2137.
    2. Jan M. P. De kok & Lorraine M. Uhlaner & A. Roy Thurik, 2006. "Professional HRM Practices in Family Owned‐Managed Enterprises," Journal of Small Business Management, Taylor & Francis Journals, vol. 44(3), pages 441-460, July.
    3. Blanco-Mazagatos, Virginia & de Quevedo-Puente, Esther & Delgado-García, Juan Bautista, 2018. "Human resource practices and organizational human capital in the family firm: The effect of generational stage," Journal of Business Research, Elsevier, vol. 84(C), pages 337-348.
    4. Luis R. Gomez–Mejia & Joanna Tochman Campbell & Geoffrey Martin & Robert E. Hoskisson & Marianna Makri & David G. Sirmon, 2014. "Socioemotional Wealth as a Mixed Gamble: Revisiting Family Firm R&D Investments with the Behavioral Agency Model," Entrepreneurship Theory and Practice, , vol. 38(6), pages 1351-1374, November.
    5. Peter Jaskiewicz & Joern H. Block & James G. Combs & Danny Miller, 2017. "The Effects of Founder and Family Ownership on Hired CEOs’ Incentives and Firm Performance," Entrepreneurship Theory and Practice, , vol. 41(1), pages 73-103, January.
    6. Mariasole Bannò & Francesca Sgobbi, 2016. "Family Business Characteristics and the Approach to HRM in Overseas Ventures," Journal of Small Business Management, Taylor & Francis Journals, vol. 54(2), pages 640-658, April.
    7. Tim Barnett & Franz W. Kellermanns, 2006. "Are We Family and Are We Treated as Family? Nonfamily Employees’ Perceptions of Justice in the Family Firm," Entrepreneurship Theory and Practice, , vol. 30(6), pages 837-854, November.
    8. Gregorio Sánchez-Marín & Antonio J. Carrasco-Hernández & Ignacio Danvila-del-Valle, 2020. "Effects of family involvement on the monitoring of CEO compensation," International Entrepreneurship and Management Journal, Springer, vol. 16(4), pages 1347-1366, December.
    9. Pittino, Daniel & Visintin, Francesca & Lenger, Tamara & Sternad, Dietmar, 2016. "Are high performance work practices really necessary in family SMEs? An analysis of the impact on employee retention," Journal of Family Business Strategy, Elsevier, vol. 7(2), pages 75-89.
    10. Jess H. Chua & James J. Chrisman & Pramodita Sharma, 1999. "Defining the Family Business by Behavior," Entrepreneurship Theory and Practice, , vol. 23(4), pages 19-39, July.
    11. Schulze, William S. & Lubatkin, Michael H. & Dino, Richard N., 2003. "Toward a theory of agency and altruism in family firms," Journal of Business Venturing, Elsevier, vol. 18(4), pages 473-490, July.
    12. Kaifeng Jiang & Riki Takeuchi & David P. Lepak, 2013. "Where do We Go From Here? New Perspectives on the Black Box in Strategic Human Resource Management Research," Journal of Management Studies, Wiley Blackwell, vol. 50(8), pages 1448-1480, December.
    13. Danny Miller & Isabelle Le Breton-Miller & Richard H. Lester, 2013. "Family Firm Governance, Strategic Conformity, and Performance: Institutional vs. Strategic Perspectives," Organization Science, INFORMS, vol. 24(1), pages 189-209, February.
    14. Danny Miller & Isabelle Le Breton–Miller, 2014. "Deconstructing Socioemotional Wealth," Entrepreneurship Theory and Practice, , vol. 38(4), pages 713-720, July.
    15. Allen N. Berger & Leora F. Klapper & Rima Turk-Ariss, 2017. "Bank competition and financial stability," Chapters, in: Jacob A. Bikker & Laura Spierdijk (ed.), Handbook of Competition in Banking and Finance, chapter 10, pages 185-204, Edward Elgar Publishing.
    16. Samuel Baixauli-Soler, J. & Belda-Ruiz, María & Sánchez-Marín, Gregorio, 2021. "Socioemotional wealth and financial decisions in private family SMEs," Journal of Business Research, Elsevier, vol. 123(C), pages 657-668.
    17. Jess H. Chua & James J. Chrisman & Lloyd P. Steier & Sabine B. Rau, 2012. "Sources of Heterogeneity in Family Firms: An Introduction," Entrepreneurship Theory and Practice, , vol. 36(6), pages 1103-1113, November.
    18. Debicki, Bart J. & Kellermanns, Franz W. & Chrisman, James J. & Pearson, Allison W. & Spencer, Barbara A., 2016. "Development of a socioemotional wealth importance (SEWi) scale for family firm research," Journal of Family Business Strategy, Elsevier, vol. 7(1), pages 47-57.
    19. James G. Combs & Christopher R. Penney & T. Russell Crook & Jeremy C. Short, 2010. "The Impact of Family Representation on CEO Compensation," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1125-1144, November.
    20. Mahto, Raj V. & Llanos-Contreras, Orlando & Hebles, Melany, 2022. "Post-disaster recovery for family firms: The role of owner motivations, firm resources, and dynamic capabilities," Journal of Business Research, Elsevier, vol. 145(C), pages 117-129.
    21. Jelle Schepers & Wim Voordeckers & Tensie Steijvers & Eddy Laveren, 2014. "The entrepreneurial orientation–performance relationship in private family firms: the moderating role of socioemotional wealth," Small Business Economics, Springer, vol. 43(1), pages 39-55, June.
    22. Michael Lubatkin & William S. Schulze & N Dino Richard, 2003. "Toward a theory of agency and altruism in family firms," Post-Print hal-02311679, HAL.
    23. María Belda-Ruiz & Gregorio Sánchez-Marín & J. Samuel Baixauli-Soler, 2022. "Influence of family-centered goals on dividend policy in family firms: A socioemotional wealth approach," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1503-1526, December.
    24. Shainaz Firfiray & Cristina Cruz & Ionela Neacsu & Luis Gomez-Mejia, 2018. "Is nepotism so bad for family firms? A socioemotional wealth approach," Post-Print hal-02001706, HAL.
    25. Cristina Cruz & Martin Larraza–Kintana & Lucía Garcés–Galdeano & Pascual Berrone, 2014. "Are Family Firms Really More Socially Responsible?," Entrepreneurship Theory and Practice, , vol. 38(6), pages 1295-1316, November.
    26. Bernice Kotey & Cathleen Folker, 2007. "Employee Training in SMEs: Effect of Size and Firm Type—Family and Nonfamily," Journal of Small Business Management, Taylor & Francis Journals, vol. 45(2), pages 214-238, April.
    27. Dawson, Alexandra & Mussolino, Donata, 2014. "Exploring what makes family firms different: Discrete or overlapping constructs in the literature?," Journal of Family Business Strategy, Elsevier, vol. 5(2), pages 169-183.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Davila, Jessenia & Duran, Patricio & Gómez-Mejía, Luis & Sanchez-Bueno, Maria J., 2023. "Socioemotional wealth and family firm performance: A meta-analytic integration," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    2. Ginesti, Gianluca & Ossorio, Mario & Dawson, Alexandra, 2023. "Family businesses and debt maturity structure: Focusing on family involvement in governance to explain heterogeneity," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    3. Gómez-Mejía, Luis R. & Herrero, Inés, 2022. "Back to square one: The measurement of Socioemotional Wealth (SEW)," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    4. María Belda-Ruiz & Gregorio Sánchez-Marín & J. Samuel Baixauli-Soler, 2022. "Influence of family-centered goals on dividend policy in family firms: A socioemotional wealth approach," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1503-1526, December.
    5. Kosmidou, Vasiliki & Holt, Daniel T., 2022. "The relationship between family management and performance: A configurational approach in exploring the role of socioemotional wealth and generational stage," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    6. Debellis, Francesco & Rondi, Emanuela & Plakoyiannaki, Emmanuella & De Massis, Alfredo, 2021. "Riding the waves of family firm internationalization: A systematic literature review, integrative framework, and research agenda," Journal of World Business, Elsevier, vol. 56(1).
    7. Du, Shanzhong & Cao, June, 2023. "Non-family shareholder governance and green innovation of family firms: A socio-emotional wealth theory perspective," International Review of Financial Analysis, Elsevier, vol. 90(C).
    8. Cambrea, Domenico Rocco & Ponomareva, Yuliya & Pittino, Daniel & Minichilli, Alessandro, 2022. "Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    9. Lozano-Reina, Gabriel & Sánchez-Marín, Gregorio & Baixauli-Soler, J. Samuel, 2022. "Say-on-Pay voting dispersion in listed family and non-family firms: A panel data analysis," Journal of Family Business Strategy, Elsevier, vol. 13(1).
    10. Requejo, Ignacio & Reyes-Reina, Fernando & Sanchez-Bueno, Maria J. & Suárez-González, Isabel, 2018. "European family firms and acquisition propensity: A comprehensive analysis of the legal system’s role," Journal of Family Business Strategy, Elsevier, vol. 9(1), pages 44-58.
    11. Debellis, Francesco & De Massis, Alfredo & Messeni Petruzzelli, Antonio & Frattini, Federico & Del Giudice, Manlio, 2021. "Strategic agility and international joint ventures: The willingness-ability paradox of family firms," Journal of International Management, Elsevier, vol. 27(1).
    12. Laffranchini, Giacomo & Hadjimarcou, John & Kim, Si Hyun, 2022. "The first turnaround response of family firms in a crisis situation," Journal of Family Business Strategy, Elsevier, vol. 13(1).
    13. Pramodita Sharma & James J. Chrisman & Jess H. Chua & Lloyd P. Steier, 2020. "Family Firm Behavior From a Psychological Perspective," Entrepreneurship Theory and Practice, , vol. 44(1), pages 3-19, January.
    14. Miller, Danny & Amore, Mario Daniele & Quarato, Fabio & Corbetta, Guido, 2022. "Family Ownership Dispersion and Dividend Payout in Family Firms," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    15. Hanqing “Chevy†Fang & James J. Chrisman & Daniel T. Holt, 2021. "Strategic Persistence in Family Business," Entrepreneurship Theory and Practice, , vol. 45(4), pages 931-950, July.
    16. Phillips, Duygu & Madison, Kristen & Wolf, Sandra & Hack, Andreas & Kellermanns, Franz W., 2024. "Signaling the family firm brand in recruitment materials: The role of category-based cognitive processing on applicant attraction," Journal of Business Research, Elsevier, vol. 183(C).
    17. Guedes, Maria João & Patel, Pankaj C. & Kowalkowski, Christian & Oghazi, Pejvak, 2022. "Family business, servitization, and performance: Evidence from Portugal," Technological Forecasting and Social Change, Elsevier, vol. 185(C).
    18. Arrondo-García, Rubén & Fernández-Méndez, Carlos & Menéndez-Requejo, Susana, 2016. "The growth and performance of family businesses during the global financial crisis: The role of the generation in control," Journal of Family Business Strategy, Elsevier, vol. 7(4), pages 227-237.
    19. Jelle Schepers & Wim Voordeckers & Tensie Steijvers & Eddy Laveren, 2021. "Entrepreneurial intention-action gap in family firms: bifurcation bias and the board of directors as an economizing mechanism," Eurasian Business Review, Springer;Eurasia Business and Economics Society, vol. 11(3), pages 451-475, September.
    20. McGuire, Jean & Dow, Sandra & Ibrahim, Bakr, 2012. "All in the family? Social performance and corporate governance in the family firm," Journal of Business Research, Elsevier, vol. 65(11), pages 1643-1650.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:156:y:2023:i:c:s0148296322009973. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.