Papers by Duarte Pimentel
This study aims to profile family firms located in the Autonomous Region of the Azores. Using a s... more This study aims to profile family firms located in the Autonomous Region of the Azores. Using a sample of 82 family-controlled firms, we were able to create the profile of these firms, by looking at several important profiling aspects such as ownership and governance, experience and management, and corporate culture. While other indicators are also taken into account: sector of activity, years in business, number of employees, and last year’s turnover. Results show that these firms are owned and controlled exclusively by the family, and its owners and managers are the founding generation. They operate in the retail sector, have less than 10 employees, have been in business for over 30 years, and have a turnover of less than €500,000 per year. The family members show a strong sense of pride, belief and identity towards the firm and consider that the family has an important influence in the business.
This study addresses a current debate in the family business literature involving the extent to w... more This study addresses a current debate in the family business literature involving the extent to which the family business context hinders or promotes entrepre-neurial behavior. The empirical evidence is provided by 155 small-sized firms, 82 family-controlled and 73 nonfamily-controlled, operating in an outermost region, the Autonomous Region of the Azores. This study analyzes the differences between family and nonfamily firms in regard to entrepreneurial orientation and how it is influenced by family participation. Results show that there are differences in entrepreneurship orientation and in two of its three dimensions, while revealing that family participation is negatively associated with entrepre-neurial orientation and its three dimensions.
Muitas foram as pessoas que contribuíram e ajudaram a tornar possível a realização deste trabalho... more Muitas foram as pessoas que contribuíram e ajudaram a tornar possível a realização deste trabalho, pelo que quero exprimir a minha mais profunda e sincera gratidão às seguintes:
De acordo com o modelo normativo da escolha intertemporal, o Modelo de Utilidade Descontada , a u... more De acordo com o modelo normativo da escolha intertemporal, o Modelo de Utilidade Descontada , a utilidade de uma consequência futura é descontada exponencialmente consoante o diferimento. Há âmpla evidência de que as pessoas não cumprem este pressuposto. Neste estudo, 280 sujeitos realizaram uma tarefa de emparelhamento (ou matching) de forma a verificar a presença de uma nova anomalia ao desconto exponencial, bem como quatro anomalias mais conhecidas na literatura: O efeito de diferimento, o efeito de magnitude, o efeito de sinal e a assimetria adiamento--adiantamento. A nova anomalia é uma interacção entre o enquadramento, o sinal, e o diferimento das consequências: Em ganhos, o efeito de diferimento é mais pronunciado num enquadramento de adiamento do que num enquadramento de adiantamento; em perdas, o inverso acontece. Todas as anomalias foram verificadas. Avançamos uma explicação do efeito interactivo em termos de sensibilidade decrescente a diferimentos.
A escolha intertemporal tem estreita ligação com fenómenos que estão na ordem do dia, tais como c... more A escolha intertemporal tem estreita ligação com fenómenos que estão na ordem do dia, tais como comportamentos de poupança, consumo e investimento. Este estudo constituir-se-á como um avanço na compreensão da escolha intertemporal, na medida em que contempla contextos de escolha triádica (três opções) e não apenas de escolha diádica (duas opções), à qual se limitam a maior parte de estudos empíricos. Pela primeira vez, este estudo vem tentar compreender como a preferência entre opções é influenciada por outras opções no contexto de escolha. Os actuais modelos de escolha intertemporal, chamados modelos de desconto, não contemplam tais influências, uma vez que cada opção é avaliada independentemente das outras. Focamo-nos em efeitos de polarização, induzidos pela introdução de uma terceira opção ao leque de escolha e o enquadramento da terceira opção como a opção default. Os resultados confirmaram estes efeitos. Discutimos ainda como os modelos de desconto devem ser substituídos por outros modelos, em que as pessoas fazem comparações directas entre as opções. Os resultados também confirmaram fenómenos que até hoje têm sido acomodados pelos modelos de desconto: Os efeitos de diferimento, de magnitude e de sinal.
The objective of this paper is to present, a brief definition and characterization of family busi... more The objective of this paper is to present, a brief definition and characterization of family business in terms of power, experience and culture, for the case of Terceira Island. The purpose of this article is to understand what defines and characterizes a family business or firm, and furthermore to perceive what is the role of the family and the family members in the family-owned business. To do it, we assess the extent and the quality of family influence in the business, keeping in mind the specific and particular economic context of Terceira Island. In order to collect data in the three proposed aspects, the F-PEC scale, develop by Astrachan, was utilized. The empirical study was conducted using a sample of 24 small and medium-sized local companies known and recognized as being family-based firms. We obtained a set of results that helped us build a prototype of these companies, providing a better knowledge and understanding about family owned businesses in Terceira Island.
Thesis Chapters by Duarte Pimentel
Family firms have a major impact on any economy, being responsible for the largest portion of wea... more Family firms have a major impact on any economy, being responsible for the largest portion of wealth generation, along with the creation of the majority of jobs in most countries, therefore, playing a central role not only in nations’ economy but also in social growth. These firms are particularly dominant in rural and remote areas, given the inability
of large enterprises to operate in such singular socioeconomic settings. This thesis aims to increase the success of family business research in an outermost, ultra-peripheral socioeconomic context, in this case by looking at firms located and operating in the Autonomous Region of the Azores, Portugal. In the course of this thesis three important topics in the family business research are addressed: (1) profile and characterization of family firms, (2) decision making processes, by centering in dual-process theories and (3) entrepreneurship, by focusing on a key construct from the entrepreneurship field - entrepreneurial orientation, resulting in three original research papers. The three papers were developed using a sample of 152 privately held firms family firms (82) and nonfamily (73) firms operating in the Azores. The first paper looks at family firms’ relevant profiling aspects such as ownership and governance, experience and management, and corporate culture. While other demographic indicators are also taken into account, such as, sector of activity, years in business, number of employees, and last year’s turnover. By drawing an initial profile of these companies, in an outermost socioeconomic context, this paper aims to provide an early dataset on family firms in this particular context and shed some light on critical aspects that characterize these companies.
In the second paper an effort is made to examine patterns of decision making in family firms, by understanding which decision making style, experiential or rational, their owners and/or managers rely in, while assessing if decision making style in family business is different from nonfamily companies. Furthermore, this paper seeks to explore
how family participation and influence in the business relates to the use of experiential or rational decision making styles. Results show that family firms mainly rely in rational decision making, and that family and nonfamily companies differ in the way they make decisions, and that family participation plays an important role in guiding the decision process, by promoting experiential decisions, and suppressing the use of a more rational decision making processes.
Finally, in the third paper, we analyze differences between family and nonfamily firms in regards to their entrepreneurial orientation, and the influence of family participation in this construct is also explored. Results suggest that that there are differences between family and nonfamily firms in regards to entrepreneurial orientation, and in two of its three components (innovativeness, risk taking and proactiveness). In short, family firms tend to be less entrepreneurially oriented and innovative, but more risk averse than nonfamily firms, however both types of companies do not differ in terms of proactiveness. Furthermore, the findings show that family participation is negatively associated with entrepreneurial orientation and its three components.
This thesis provides a set of findings that contribute to an improved understanding of family firms in outermost socioeconomic contexts, offering important theoretical and practical implications, thus bridging academics and practitioners.
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Papers by Duarte Pimentel
Thesis Chapters by Duarte Pimentel
of large enterprises to operate in such singular socioeconomic settings. This thesis aims to increase the success of family business research in an outermost, ultra-peripheral socioeconomic context, in this case by looking at firms located and operating in the Autonomous Region of the Azores, Portugal. In the course of this thesis three important topics in the family business research are addressed: (1) profile and characterization of family firms, (2) decision making processes, by centering in dual-process theories and (3) entrepreneurship, by focusing on a key construct from the entrepreneurship field - entrepreneurial orientation, resulting in three original research papers. The three papers were developed using a sample of 152 privately held firms family firms (82) and nonfamily (73) firms operating in the Azores. The first paper looks at family firms’ relevant profiling aspects such as ownership and governance, experience and management, and corporate culture. While other demographic indicators are also taken into account, such as, sector of activity, years in business, number of employees, and last year’s turnover. By drawing an initial profile of these companies, in an outermost socioeconomic context, this paper aims to provide an early dataset on family firms in this particular context and shed some light on critical aspects that characterize these companies.
In the second paper an effort is made to examine patterns of decision making in family firms, by understanding which decision making style, experiential or rational, their owners and/or managers rely in, while assessing if decision making style in family business is different from nonfamily companies. Furthermore, this paper seeks to explore
how family participation and influence in the business relates to the use of experiential or rational decision making styles. Results show that family firms mainly rely in rational decision making, and that family and nonfamily companies differ in the way they make decisions, and that family participation plays an important role in guiding the decision process, by promoting experiential decisions, and suppressing the use of a more rational decision making processes.
Finally, in the third paper, we analyze differences between family and nonfamily firms in regards to their entrepreneurial orientation, and the influence of family participation in this construct is also explored. Results suggest that that there are differences between family and nonfamily firms in regards to entrepreneurial orientation, and in two of its three components (innovativeness, risk taking and proactiveness). In short, family firms tend to be less entrepreneurially oriented and innovative, but more risk averse than nonfamily firms, however both types of companies do not differ in terms of proactiveness. Furthermore, the findings show that family participation is negatively associated with entrepreneurial orientation and its three components.
This thesis provides a set of findings that contribute to an improved understanding of family firms in outermost socioeconomic contexts, offering important theoretical and practical implications, thus bridging academics and practitioners.
of large enterprises to operate in such singular socioeconomic settings. This thesis aims to increase the success of family business research in an outermost, ultra-peripheral socioeconomic context, in this case by looking at firms located and operating in the Autonomous Region of the Azores, Portugal. In the course of this thesis three important topics in the family business research are addressed: (1) profile and characterization of family firms, (2) decision making processes, by centering in dual-process theories and (3) entrepreneurship, by focusing on a key construct from the entrepreneurship field - entrepreneurial orientation, resulting in three original research papers. The three papers were developed using a sample of 152 privately held firms family firms (82) and nonfamily (73) firms operating in the Azores. The first paper looks at family firms’ relevant profiling aspects such as ownership and governance, experience and management, and corporate culture. While other demographic indicators are also taken into account, such as, sector of activity, years in business, number of employees, and last year’s turnover. By drawing an initial profile of these companies, in an outermost socioeconomic context, this paper aims to provide an early dataset on family firms in this particular context and shed some light on critical aspects that characterize these companies.
In the second paper an effort is made to examine patterns of decision making in family firms, by understanding which decision making style, experiential or rational, their owners and/or managers rely in, while assessing if decision making style in family business is different from nonfamily companies. Furthermore, this paper seeks to explore
how family participation and influence in the business relates to the use of experiential or rational decision making styles. Results show that family firms mainly rely in rational decision making, and that family and nonfamily companies differ in the way they make decisions, and that family participation plays an important role in guiding the decision process, by promoting experiential decisions, and suppressing the use of a more rational decision making processes.
Finally, in the third paper, we analyze differences between family and nonfamily firms in regards to their entrepreneurial orientation, and the influence of family participation in this construct is also explored. Results suggest that that there are differences between family and nonfamily firms in regards to entrepreneurial orientation, and in two of its three components (innovativeness, risk taking and proactiveness). In short, family firms tend to be less entrepreneurially oriented and innovative, but more risk averse than nonfamily firms, however both types of companies do not differ in terms of proactiveness. Furthermore, the findings show that family participation is negatively associated with entrepreneurial orientation and its three components.
This thesis provides a set of findings that contribute to an improved understanding of family firms in outermost socioeconomic contexts, offering important theoretical and practical implications, thus bridging academics and practitioners.