Business and Management INK

ASQ Award for Scholarly Contribution

August 22, 2013 820

We are pleased to congratulate the winners of the 2013 Administrative Science Quarterly Award for Scholarly Contribution. This prestigious annual award recognizes the article published 5 years previously in ASQ that was judged to have had the greatest scholarly impact.

After carefully considering a slate of finalists, a committee of board members presented this year’s award to Luis R. Gómez-Mejía, Katalin Takács Haynes, Manuel Núñez-Nickel, Kathryn J. L. Jacobson, and José Moyano-Fuentes for their article ‘‘Socioemotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil Mills,’’ published in the March 2007 issue. The winners were honored at the Academy of Management Annual Meeting this month in Orlando.

asqDr. Jerry Davis, Editor of ASQ, said:

The authors examined the histories of 1200 olive oil mills in Spain over a half-century period to understand how family ownership influences risk taking. Firms had the option of joining co-operatives, which lowered business risk but also resulted in the loss of family control. Traditional theories imply that family-controlled businesses are highly risk averse because much or all of the family’s wealth is invested in the firm, giving family owners strong reason to choose the safer path of joining a co-op. Drawing on the concept of socioemotional wealth and on psychological theories of risky choice, however, the authors found that “family firms are willing to risk financial losses and bear a greater probability of failure in order to maintain control of the firm.” This finding, along with the paper’s other insights, have made it an important touchstone in the literatures on entrepreneurship and family business.

According to Dr. Davis, the award committee said:

This paper stood out among a very strong group of papers for the novelty and potential impact of a key concept, i.e., socioemotional wealth. By incorporating non-financial aspects that meet a family’s affective needs into the utility function, the authors formulate novel hypotheses about family firms’ risk-taking decisions. These hypotheses, while differing from standard behavioral decision theory accounts of when firms take risks, are still consistent with the logic of the theory (i.e., loss aversion and risk taking when performance falls below a threshold) and therefore contribute to it. This sophisticated addition to a mature theory is commendable. Also noteworthy is the painstaking data collection and meticulous analysis, which show compelling support for the theory. Finally, we think that a paper (and a strong one at that) that examines the important but understudied setting of family-owned businesses is praiseworthy.

For the same article, the authors also received the 2013 Greif Research Impact Award from the Entrepreneurship Division of the Academy of Management. This prize is given annually to the authors(s) of the most impactful entrepreneurship article published 6 years previously in top management and entrepreneurship journals.

Our congratulations to the winners!

Business and Management INK puts the spotlight on research published in our more than 100 management and business journals. We feature an inside view of the research that’s being published in top-tier SAGE journals by the authors themselves.

View all posts by Business & Management INK

Related Articles

Good Governance, Strong Trust: Building Community Among an Australian City Rebuilding Project
Business and Management INK
February 8, 2024

Good Governance, Strong Trust: Building Community Among an Australian City Rebuilding Project

Read Now
A Black History Addendum to the American Music Industry
Insights
February 6, 2024

A Black History Addendum to the American Music Industry

Read Now
Organizational Learning in Remote Teams: Harnessing the Power of Games for Meaningful Online Exchanges
Business and Management INK
February 2, 2024

Organizational Learning in Remote Teams: Harnessing the Power of Games for Meaningful Online Exchanges

Read Now
Environmental and Social Sustainability Methods in Online and In-Person Shopping
Business and Management INK
January 30, 2024

Environmental and Social Sustainability Methods in Online and In-Person Shopping

Read Now
Revitalizing Entrepreneurship to Benefit Low-Income Communities

Revitalizing Entrepreneurship to Benefit Low-Income Communities

While entrepreneurship scholarship increasingly illustrates the limits of an individualized approach in commercial businesses, this thinking has not yet filtered through to how we strategize entrepreneurship in low income-areas.

Read Now
The Key to Dismantling Oppressive Global Systems

The Key to Dismantling Oppressive Global Systems

In this article, Nazarina Jamil, Maria Humphries-Kil, and Kahurangi Dey explore Paulo Freire’s call for responsibility for those who are marginalized and his Pedagogy of Hope to encourage action and inspiration around the dismantling of oppressive global systems.

Read Now
Using Affective Displays to Predict Customer Satisfaction

Using Affective Displays to Predict Customer Satisfaction

In this article, Shelly Ashtar reflects on her longstanding interest in service-related work and how it connects to her research interest in customer satisfaction. Ashtar explores this topic with collaborators Galit B. Yom-Tov, Anat Rafaeli and Jochen Wirtz in “Affect-as-Information: Customer and Employee Affective Displays as Expeditious Predictors of Customer Satisfaction,” in the Journal of Service Research.

Read Now
0 0 votes
Article Rating
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

0 Comments
Inline Feedbacks
View all comments