Managing Resources: Linking Unique Resources, Management, and Wealth Creation in Family Firms

By David G. Sirmon, Michael A. Hitt. 2003

2,503 citations recorded by the source corpus.

Subfields: Accounting, Management of Technology and Innovation, Organizational Behavior and Human Resource Management

View Paper: https://www.semanticscholar.org/paper/ec69dd011415c9e83c80a8a01a0c981e9e072428

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In Management of Technology and Innovation

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Citations in the corpus

The impact of small- and medium-sized family firms on economic growth (2015, background): “Furthermore, family involvement may provide survivability capital for the firm (Sirmon and Hitt 2003) and increase the stability of the economy, especially in scarce environments (Carney 2005).”
Creating Value through Offshore Outsourcing: An Integrative Framework (2013, neutral): “To gain a deeper understanding of these processes, we next discuss the notion of strategic resource management framework as developed by Sirmon and his colleagues (Sirmon and Hitt, 2009; Sirmon et al., 2007, 2008, 2011).”
Innovation and Family Ownership: Empirical Evidence from India (2014, background): “Furthermore, the limited studies on family ownership and innovation were undertaken either from an external resourcing perspective (e.g., Sirmon & Hitt, 2003) or from an agency perspective (Choi, Lee, & Williams, 2011; Morck & Yeung, 2003).”
Organizational Virtue Orientation and Family Firms (2011, background): “…generally lead to enhanced virtue, the influence of this role can vary within family firms; simply possessing a governance structure that meets the criteria of a family firm would not necessarily mitigate the negative effects of a flawed family system (Arregle et al., 2007; Sirmon & Hitt, 2003).”
Resource-Based Theory and Corporate Diversification (2011, background): “To the extent that one considers the unique resources of family firms that provide advantages over nonfamily firms (Sirmon & Hitt, 2003), the impact on diversification scope and performance for family firms likely will be a rewarding avenue for further research.”
Doing More with Less: Innovation Input and Output in Family Firms (2016, positive): “…& Winter, 2002); in particular, they need to excel in “ resource orchestration ” (Sirmon et al., 2011) because “ resources alone are not likely to produce a sustainable competitive advantage [, . . . yet those] resources must be managed appropriately to produce value ” (Sirmon & Hitt, 2003: 341).”
Owner‐Management, Firm Age, and Productivity in Italian Family Firms (2014, background): “Rather, the firm’s resources “must be managed appropriately to produce value” (Sirmon and Hitt, 2003).”
Family SMEs' Internationalization: Disentangling the Influence of Familiness on Spanish Firms' Export Activity** (2015, background): “To shed light on some blind spots in this field, this paper analyzes how family SMEs face the challenge of internationalization through the several dimensions of the familiness concept (Habbershon and Williams 1999; Habbershon, Williams, and MacMillan 2003; Sirmon and Hitt 2003).”
Planning for Growth: Life Stage Differences in Family Firms (2013, neutral): “Researchers have identified strategic planning (e.g., Chrisman, Chua, & Sharma, 2003; Sirmon & Hitt, 2003; Upton, Teal, & Felan, 2001) and succession planning (Handler, 1989; Sharma, Chrisman, & Chua, 2003a; Ward, 1987) as mechanisms likely to counteract this underinvestment, encourage appropriate…”
Chinese Private Firms and Internationalization (2014, neutral): “Second, highly qualified managers may avoid firms with heavy family involvement in management because of the limited potential for professional growth, lack of professionalism, and limited wealth transfer (Sirmon & Hitt, 2003).”
Implications of Intra-Family and External Ownership Transfer of Family Firms: Short-Term and Long-Term Performance Differences (2011, background): “Here, financial capital is invested for long periods without the intention of liquidation (Dobrzynski, 1993; Sirmon and Hitt, 2003).”
Innovation in family and non-family businesses: a resource perspective (2010, background): “Therefore, on the positive side, family firms do not take risky financial decisions because they have a longer time perspective and are not as accountable for short-term prospects while, on the negative side, family firms have limited external financial sources because they avoid sharing equity with”
The Varying Effects of Family Relationships in Entrepreneurial Teams (2013, background): “In particular, older and better endowed generations can provide investments that would not have been made by others based purely on economic grounds (Steier, Chrisman, & Chua, 2004), and they can provide “patient capital” not expecting rapid returns (Sirmon & Hitt, 2003).”