Skip to main content Accessibility help

We use cookies to distinguish you from other users and to provide you with a better experience on our websites. Close this message to accept cookies or find out how to manage your cookie settings.

Close cookie message
×
Hostname: page-component-cd9895bd7-hc48f Total loading time: 0 Render date: 2024-12-31T19:59:25.352Z Has data issue: false hasContentIssue false

1 - Definitions

Published online by Cambridge University Press:  12 July 2019

Sanjay Sharma  and
Pramodita Sharma
Sanjay Sharma
Affiliation:
University of Vermont
Pramodita Sharma
Affiliation:
University of Vermont
Get access

Summary

This chapter develops definitions of the main concepts in this research monograph by drawing on extant literature and distinguishing corporate environmental sustainability as the strategies, actions and practices undertaken by a firm with regard to its interace with the natural environment from related concepts such as corporate philanthropy, impact investing, corporate social responsibility, corporate citizenship and corporate greening. Definitions of patient capital, corporate governance, family firms, family versus non-family control and proactive environmental strrategy (PES) that constitute the core concepts in this monograph are developed.

Keywords

Corporate Social ResponsibilityCorporate Environmental StrategySustainability StrategyPatient CapitalCorporate GovernanceFamily firmFamily Controlled firm
Type
Chapter
Information
Patient Capital
The Role of Family Firms in Sustainable Business
 , pp. 1 - 24
Publisher: Cambridge University Press
Print publication year: 2019

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Aguilera, R. V. 2005. Corporate governance and director accountability: An institutional comparative perspective. British Journal of Management, 16: 1–15.CrossRefGoogle Scholar
Aguilera, R. V., Rupp, D. E., Williams, C. E, and Ganapathi, J. 2007. Putting the S back in corporate social responsibility: A multilevel theory of social change in organizations. Academy of Management Review, 32(3): 836–863.CrossRefGoogle Scholar
Anderson, R. C. and Reeb, D. M. 2003. Founding family ownership and firm performance: Evidence from the S&P 5000. Journal of Finance, 58(3): 1301–1328.Google Scholar
Anderson, R. C., Mansi, S. A. and Reeb, D. M. 2003. Founding family ownership and the agency cost of debt. Journal of Financial Economics, 68(2): 263–285.Google Scholar
Aragón-Correa, A. A. and Sharma, S. 2003. A contingent resource-based view of proactive environmental strategy. Academy of Management Review, 28(1): 71–88.Google Scholar
Baker, H. K. and Anderson, R. 2010. An overview of corporate governance. In Corporate Governance: A Synthesis of Theory, Research and Practice, pp. 1–17. Hoboken, NJ: John Wiley.CrossRefGoogle Scholar
Bartholomeusz, S. and Tanewski, G. A. 2006. The relationship between family firms and corporate governance. Journal of Small Business Management, 44(2): 245–267.Google Scholar
Björnberg, Å., Elstrodt, H. and Pandit, V. 2014. The family-business factor in emerging markets. McKinsey Quarterly.Google Scholar
Bluedorn, A. C. 2002. The Human Organization of Time: Temporal Realities and Experiences. Stanford, CA: Stanford University Press.Google Scholar
Bugg-Levine, A. and Emerson, J. 2011. Impact Investing: Transforming How We Make Money While Making a Difference. San Francisco: Jossey-Bass.Google Scholar
Carney, M. 2005. Corporate governance and competitive advantage in family-controlled firms. Entrepreneurship Theory and Practice, 30: 249–265.CrossRefGoogle Scholar
Carroll, A. B. 1979. A three dimensional conceptual model of corporate social performance. Academy of Management Review, 4: 497–505.Google Scholar
Chen, M. and Smith, K. 1987. Samples used in strategic management research. Best Paper Proceedings of the 47th Annual Meeting of the Academy of Management, pp. 7–11. Athens, GA.Google Scholar
Chua, J. H., Chrisman, J. J. and Sharma, P. 1999. Defining the family business by behavior. Entrepreneurship Theory and Practice, 23(4): 19–39.Google Scholar
Chrisman, J. J., Chua, J. H. and Litz, R. A. 2004. Comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence. Entrepreneurship Theory & Practice, 28(4): 335–354.Google Scholar
Cyert, R. M. and March, J. G. 1963. A Behavioral Theory of the Firm. New Jersey: Prentice Hall.Google Scholar
Davis, J. H., Schoorman, D. F. and Donaldson, L. 1997. Toward a stewardship theory of management. Academy of Management Review, 22(1): 20–47.Google Scholar
Dyer, G. W. Jr. 2003. The family: The missing variable in organizational research. Entrepreneurship Theory & Practice, 27(4): 401–416.CrossRefGoogle Scholar
El Akremi, A., Gond, J. P., Swaen, V., De Roeck, K. and Igalens, J. 2015. How do employees perceive corporate responsibility? Development and validation of a multidimensional corporate stakeholder responsibility scale. Journal of Management, 44(2): 619–657.CrossRefGoogle Scholar
Elkington, J. 1997. Cannibals with Forks: The Triple Bottom Line of 21st Century Business. Oxford, UK: Capstone Publishing.Google Scholar
Fernández-Aráoz, C., Iqbal, S. and Ritter, J. 2015. Leadership lessons from great family businesses. Harvard Business Review, April: 82–88.Google Scholar
Fojt, M. 1995. High flying employee ownership. Journal of Services Marketing, 9(3): 49–51.Google Scholar
Freidman, T. L. 2007. Patient capital for an Africa that can’t wait. The New York Times, 20th April 2007. www.deseretnews.com/article/660214411/African-businesses-need-more-patient-capital.html.Google Scholar
Fuller, D., Akinwande, A. and Sodini, C. 2003. Leading, following or cooked goose? Innovation successes and failure in Taiwan’s electronics iIndustry. Journal of Industry and Innovation, 10(2): 179–196.Google Scholar
Gardberg, N. A. and Fombrun, C. J. 2006. Corporate citizenship: Creating intangible assets across institutional environments. Academy of Management Review, 31(2): 329–346.Google Scholar
Gersick, K. E. and Neus, F. 2014. Governing the family enterprise: Practices, performance, and research. In Melin, L., Nordqvist, M. and Sharma, P. (eds.), SAGE Handbook of Family Business, pp. 196–225. London, UK: Sage Publications.CrossRefGoogle Scholar
Global Impact Investing Network (GIIN). n.d. https://thegiin.org/.Google Scholar
Gomez-Mejia, L. R., Haynes, K., Nunez-Nickel, M., Jacobson, K. and Moyano-Fuentes, J. 2007. Family owned firms: Risk loving or risk averse. Administrative Science Quarterly, 52(1): 106–138.Google Scholar
Grenadier, S. R. and Wang, N. 2007. Investment under uncertainty and time-inconsistent preferences. Journal of Financial Economics, 84 (1): 2–39.CrossRefGoogle Scholar
Habbershon, T. G. and Williams, M. L. 1999. A resource-based framework for assessing the strategic advantage of family firms. Family Business Review, 12(1): 1–25.Google Scholar
Hart, S. L. 1997. Beyond greening: Strategies for a sustainable world. Harvard Business Review, January/February, 66–76.Google Scholar
Jackson, E. T. 2013. Interrogating the theory of change: Evaluating impact investing where it matters most. Journal of Sustainable Finance & Investment, 3(2): 95–110.Google Scholar
Jensen, M. C. and Meckling, W. H. 1976. Theory of the firm: Managerial behavior, agency costs and ownership structure. Journal of Financial Economics, 3(4): 305–360.Google Scholar
Karra, N., Tracey, P. and Phillips, N. 2006. Altruism and agency in the family firm: Exploring the role of family, kinship and ethnicity. Entrepreneurship Theory & Practice, 30(6): 861–877.Google Scholar
Keasey, K., Thompson, S. and Wright, M. 1997. Corporate Governance: Economic, Management, and Financial issues. Oxford, UK: Oxford University Press.Google Scholar
Kingston, J. and Bolton, M. 2004. New approaches to funding not-for-profit organisations. International Journal of Nonprofit and Voluntary Sector Marketing, 9(2): 112–121.CrossRefGoogle Scholar
LaPorta, R., Lopez-de-Silanes, F. and Shleifer, A. 1999. Corporate ownership around the world. Journal of Finance, 54: 471–517.Google Scholar
Manners, G. E. Jr. and Louderback, J. G. 1980. Sales potential guidelines for research investment. Research Management, 23(2): 25–29.Google Scholar
Matten, D. and Crane, A. 2005. Corporate citizenship: Toward an extended theoretical conceptualization. Academy of Management Review, 30(1): 166–179.Google Scholar
Mazzucato, M. 2013. Financing innovation: Creative destruction vs. destructive creation. Industrial and Corporate Change, 22(4), 851–867.CrossRefGoogle Scholar
McCahery, J. A. and Vermeulen, E. P. M. 2006. Corporate Governance and Innovation – Venture Capital, Joint Ventures, and Family Businesses. ECGI- Law Working Paper # 65/2006.Google Scholar
McConaughy, D. L. 2000. Family CEOs vs. nonfamily CEOs in family-controlled firms: An examination of the level and sensitivity of pay to performance. Family Business Review, 13(2): 121–131.Google Scholar
Meier, O. and Schier, G. 2016. The early succession state of a family firm: Exploring the role of agency rationales and stewardship attitudes. Family Business Review, 29(3): 256–277.Google Scholar
Miller, D. and Le Breton-Miller, I. 2005. Managing for the Long-Run: Lessons in Competitive Advantage from Great Family Businesses. Cambridge, MA: Harvard Business Press.Google Scholar
Morck, R. K. and Steier, L. 2005. The global history of corporate governance: An introduction. In A History of Corporate Governance around the World, pp. 1–64. Chicago: National Bureau of Economic Research.Google Scholar
Natural Step. n.d. www.naturalstep.org/en/the-system-conditions (accessed February 8, 2015).Google Scholar
Oswald, J., Ghobadian, A., O’Regan, N. and Antcliff, V. 2013. Dynamic capabilities in a sixth-generation family firm: Entrepreneurship and the Bibby Line. Business History, 55(6): 910–941.Google Scholar
Porter, M. E. and Kramer, M. R. 2002. The competitive advantage of corporate philanthropy. Harvard Business Review, December.Google Scholar
Post, J. E. and Waddock, S. A. 1995. Strategic philanthropy and partnerships for economic progress. In America, R. F. (ed.), Philanthropy and Economic Development, pp. 65–84. Westport, CT: Greenwood Press.Google Scholar
Robeson, D. and O’Conner, G. C. 2013. Boards of directors, innovation, and performance: An exploration at multiple levels. Journal of Product Innovation Management, 30(4): 608–625.CrossRefGoogle Scholar
Russo, M. V. and Fouts, P. A. 1997. A resource-based perspective on corporate environmental performance and profitability. Academy of Management Journal, 40(3): 534–559.Google Scholar
Schulze, W. S., Lubatkin, M. H., Dino, R. N. and Buchholtz, A. K. 2001. Agency relationships in family firms: Theory and evidence. Organization Science, 12, 99–116.CrossRefGoogle Scholar
Shanker, M. C. and Astrachan, J. H. 1996. Myths and realities: Family businesses’ contribution to the US economy – A framework for assessing family business statistics. Family Business Review, 9(2): 107–123.Google Scholar
Sharma, S. and Vredenburg, H. 1998. Proactive environmental strategy and the development of competitively valuable organizational capabilities. Strategic Management Journal, 19: 729–753.Google Scholar
Shive, S. and Yun, H. 2013. Are mutual funds sitting ducks? Journal of Financial Economics, 107(1): 220–237.Google Scholar
Shleifer, A. and Vishny, R. W. 1997. A survey of corporate governance. Journal of Finance, 52(2): 737–783.Google Scholar
Sirmon, D. G. and Hitt, M. A. 2003. Managing resources: Linking unique resources, management, and wealth creation in family firms. Entrepreneurship Theory and Practice, 27(4): 339–358.Google Scholar
Starik, M. and Rands., G. P. 1995. Weaving and integrated web: Multilevel and multisystem perspectives of ecologically sustainable organizations. Academy of Management Review, 20(4): 908–935.Google Scholar
Teece, D. J. 1992. Foreign investment and technological development in Silicon Valley. California Management Review, 34 (2): 88–106.Google Scholar
The Economist. 2009. Triple bottom line: It consists of three Ps: profit, people and planet. November 17. www.economist.com/node/14301663 (accessed January 6, 2015).Google Scholar
Vallejo, M. C. 2009. The effect of commitment of non-family employees of family firms from the perspective of stewardship theory. Journal of Business Ethics, 87(3): 379–390.CrossRefGoogle Scholar
VanderMey, A. 2017. IPOs are dwindling, so is the number of public companies. Fortune, Jan 20, 2017. http://fortune.com/2017/01/20/public-companies-ipo-financial-markets/.Google Scholar
Villalonga, B. and Amit, R. 2009. How are US family firms controlled? Review of Financial Studies, 22: 3047–3091.Google Scholar
Villalonga, B., Amit, R., Trujillo, M. and Guzman, A. 2015. Governance of family firms. Annual Review of Financial Economics, 7: 635–654.Google Scholar
Wikipedia 1. n.d. https://en.wikipedia.org/wiki/Patient_capital (accessed August 18, 2017).Google Scholar
World Commission on Environment and Development (WCED). 1987. Our Common Future. New York: Oxford University Press.Google Scholar

Save book to Kindle

To save this book to your Kindle, first ensure [email protected] is added to your Approved Personal Document E-mail List under your Personal Document Settings on the Manage Your Content and Devices page of your Amazon account. Then enter the ‘name’ part of your Kindle email address below. Find out more about saving to your Kindle.

Note you can select to save to either the @free.kindle.com or @kindle.com variations. ‘@free.kindle.com’ emails are free but can only be saved to your device when it is connected to wi-fi. ‘@kindle.com’ emails can be delivered even when you are not connected to wi-fi, but note that service fees apply.

Find out more about the Kindle Personal Document Service.

  • Definitions
  • Sanjay Sharma, University of Vermont, Pramodita Sharma, University of Vermont
  • Book: Patient Capital
  • Online publication: 12 July 2019
  • Chapter DOI: https://doi.org/10.1017/9781316402528.001
Available formats
×

Save book to Dropbox

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Dropbox.

  • Definitions
  • Sanjay Sharma, University of Vermont, Pramodita Sharma, University of Vermont
  • Book: Patient Capital
  • Online publication: 12 July 2019
  • Chapter DOI: https://doi.org/10.1017/9781316402528.001
Available formats
×

Save book to Google Drive

To save content items to your account, please confirm that you agree to abide by our usage policies. If this is the first time you use this feature, you will be asked to authorise Cambridge Core to connect with your account. Find out more about saving content to Google Drive.

  • Definitions
  • Sanjay Sharma, University of Vermont, Pramodita Sharma, University of Vermont
  • Book: Patient Capital
  • Online publication: 12 July 2019
  • Chapter DOI: https://doi.org/10.1017/9781316402528.001
Available formats
×