Rights statement: This is the author’s version of a work that was accepted for publication in Journal of International Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Management, ?, ?, 2020 DOI: 10.1016/j.intman.2020.100739
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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Strategic agility and international joint ventures
T2 - The willingness-ability paradox of family firms
AU - Debellis, Francesco
AU - De Massis, Alfredo
AU - Messeni Petruzzelli, Antonio
AU - Frattini, Federico
AU - Del Giudice, M
N1 - This is the author’s version of a work that was accepted for publication in Journal of International Management. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of International Management, ?, ?, 2020 DOI: 10.1016/j.intman.2020.100739
PY - 2021/3/23
Y1 - 2021/3/23
N2 - Despite the considerable increase in studies on international joint ventures (IJVs) and family business, the two research streams have yet to be systemically integrated. Family firms have unique characteristics that affect their involvement in IJVs differently from their non-family counterparts. Indeed, family firms face a paradox entailing a lower willingness to form IJVs, but a higher ability to govern them. Drawing on three distinct components of strategic agility (i.e., strategic sensitivity, leadership unity, and resource fluidity), we develop a theoretical framework that unravels this paradox. Specifically, we argue that strong emotional attachment reduces family firms' strategic sensitivity, creating a motivational gap with respect to forming IJVs. On the other hand, when family firms overcome this gap by making full use of their board of directors, they have higher levels of leadership unity and resource fluidity. These dimensions lead to a greater ability to govern the complexities of the relationship, hence reducing opportunistic hazards, and significantly increasing the odds of the long-term success of IJVs. We develop propositions for empirical studies, and offer implications and directions for future research.
AB - Despite the considerable increase in studies on international joint ventures (IJVs) and family business, the two research streams have yet to be systemically integrated. Family firms have unique characteristics that affect their involvement in IJVs differently from their non-family counterparts. Indeed, family firms face a paradox entailing a lower willingness to form IJVs, but a higher ability to govern them. Drawing on three distinct components of strategic agility (i.e., strategic sensitivity, leadership unity, and resource fluidity), we develop a theoretical framework that unravels this paradox. Specifically, we argue that strong emotional attachment reduces family firms' strategic sensitivity, creating a motivational gap with respect to forming IJVs. On the other hand, when family firms overcome this gap by making full use of their board of directors, they have higher levels of leadership unity and resource fluidity. These dimensions lead to a greater ability to govern the complexities of the relationship, hence reducing opportunistic hazards, and significantly increasing the odds of the long-term success of IJVs. We develop propositions for empirical studies, and offer implications and directions for future research.
KW - International joint ventures
KW - Strategic agility
KW - Family firms
KW - Board of directors
KW - Socioemotional wealth
U2 - 10.1016/j.intman.2020.100739
DO - 10.1016/j.intman.2020.100739
M3 - Journal article
VL - 27
JO - Journal of International Management
JF - Journal of International Management
SN - 1075-4253
IS - 1
ER -