CONTROL MECHANISMS AND STRATEGIC FLEXIBILITY OF FAMILY FIRMS

Weissmantel, Cristiane Wornath; Beck, Franciele; Mucci, Daniel Magalhães

doi:10.1590/S0034-759020230403

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Revista de Administração de Empresas

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ARTICLES • Rev. adm. empres. 63 (4) • 2023 • https://doi.org/10.1590/S0034-759020230403 copy

CONTROL MECHANISMS AND STRATEGIC FLEXIBILITY OF FAMILY FIRMS

Authorship SCIMAGO INSTITUTIONS RANKINGS

ABSTRACT

The study aims to evaluate the influence of the culture of family’s commitment on strategic flexibility and the mediating effects of control mechanisms from the perspectives of agency and stewardship theories in Brazilian family firms. For data analysis, it was performed Structural Equation Modeling (MEE-SmartPLS). The study’s results show that the relationship between the family commitment culture and strategic flexibility is not direct, but mediated by stewardship control mechanisms. However, agency mechanisms do not mediate the relationship between family’s commitment culture and strategic flexibility. The study advances the discussions about the coexistence of control mechanisms in family firms, contributes by evaluating mechanisms that precede strategic flexibility, in addition to investigating strategic flexibility in a pandemic context. Furthermore, it provides insights for companies to reflect on the most appropriate use of mechanisms that encourage strategic flexibility.

Keywords:
culture of family commitment; control mechanisms; family firms; strategic flexibility; COVID-19

Latent Variable	CCF	FE	MA	MS
CCF	0.776
FE	0.491	0.846
MA	0.455	0.371	0.740
MS	0.617	0.612	0.455	0.899
Average Variance Extracted (AVE)	0.603	0.716	0.547	0.808
Compound Reliability (CC)	0.948	0.910	0.781	0.954
Cronbach’s Alpha (AC)	0.940	0.869	0.607	0.940

	Beta	T Statistics	P-value	f2	R2adj	Beta	T Statistics	P-value	f2	R2adj
CCF -> MS	0.617	6.301	0.000	0.615	0.375	0.618	5.771	0.000	0.564	0.363
Ownership -> MS						−0.036	0.451	0.652	0.002
Size -> MS						0.083	0.859	0.390	0.010
Generation -> MS						−0.020	0.219	0.827	0.001

CCF -> MA	0.455	4.955	0.000	0.261	0,200	0.437	4.484	0.000	0.228	0.214
Ownership -> MA						−0.062	0.724	0.469	0.005
Size -> MA						0.193	1.498	0.134	0.041
Generation -> MA						0.007	0.052	0.958	0.000

CCF -> FE	0.160	1.092	0.275	0.025	0,383	0.155	1.060	0.289	0.022	0.382
MA->FE	0.082	0.829	0.407	0.008		0.057	0.577	0.564	0.004
MS->FE	0.476	3.458	0.001	0.219		0.470	3.525	0.000	0.219
Ownership -> FE						0.071	0.848	0.397	0.008
Size -> FE						0.119	1.259	0.208	0.020
Generation -> FE						−0.014	0.133	0.894	0.000

	Beta	T Statistics	P-value
CCF -> MS -> FE	0.290	3.453	0.001
CCF -> MA -> FE	0.025	0.543	0.587

Fundação Getulio Vargas, Escola de Administração de Empresas de S.Paulo Av 9 de Julho, 2029, 01313-902 S. Paulo - SP Brasil, Tel.: (55 11) 3799-7999, Fax: (55 11) 3799-7871 - São Paulo - SP - Brazil
E-mail: rae@fgv.br

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