v9i2 – Junior Management Science

Vergleich der Thesaurierungsbegünstigung mit dem Optionsmodell für Familienpersonengesellschaften

Anna Vitten, Hochschule Bochum (Masterarbeit)
Junior Management Science 9(2), 2024, 1414-1444

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Die unterschiedlichen Besteuerungskonzeptionen von Personen- und Kapitalgesellschaften in Deutschland führen, insbesondere im Fall der Gewinnthesaurierung, zu systematischen Missverhältnissen und teils deutlichen Belastungsunterschieden. Der Gesetzgeber verfolgt indes zunehmend das Ziel einer Angleichung durch steuerliche Begünstigungen und Wahlrechte für Personengesellschaften. Neben der Thesaurierungsbegünstigung nach § 34a EStG, kann ab 2022 mittels § 1a KStG eine Personengesellschaft nach den Vorschriften für Körperschaften besteuert werden. In der vorliegenden Arbeit wird die Vorteilhaftigkeit beider Wahlrechte für den primären Adressatenkreis – d.h. „Familienpersonengesellschaften“ – untersucht. Dabei werden die speziellen steuerlichen Anforderungen und Bedürfnisse, die sich aus den wesenstypischen Eigenschaften von Familienpersonengesellschaften ergeben, definiert. Es wird deutlich, dass das vom Gesetzgeber verfolgte Ziel einer rechtsformneutralen Besteuerung in der derzeitigen Ausgestaltung nicht erreicht werden kann.

Keywords: § 1a KStG; § 34a EStG; family business; option model; preferential treatment.

DOI: https://doi.org/10.5282/jums/v9i2pp1414-1444

Impact of CSR on Firm Performance: The Moderating Role of Family Ownership in Individualistic & Collectivistic Countries

Abhishek Omprakash Singh, Technische Universität München (Masterarbeit)
Junior Management Science 9(2), 2024, 1445-1463

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The objective of this study is to have a cross-country examination of the moderating role of family ownership on the corporate social responsibility (CSR) – financial performance (FP) relationship, also understanding how the moderating effect is influenced by cultural dimensions of collectivism and individualism. The study thereby incorporates views from both the Stakeholder theory and the Institutional theory. The study employs the one-way fixed effects regression analysis. Firm-year observations for the period of 2013 to 2022 of 439 firms across 35 countries are included. The magnitude of the interaction term is then inspected across the deemed collectivistic and individualistic cultures. The study finds that the degree of family ownership positively moderates the CSR-FP relationship and this moderation effect is stronger for collectivistic countries. The study is a novel approach to taking the CSR-FP subject with the family ownership moderating effect in a cross-country setting and it uniquely measures family ownership, not as the usual binary or subjective construct. The results of the study yield an interesting insight on the appropriate ownership structure for family members, and the status of legitimacy and trust family businesses can leverage with CSR to improve FP.

Keywords: collectivism; corporate social responsibility (CSR); family ownership; financial performance (FP); individualism.

DOI: https://doi.org/10.5282/jums/v9i2pp1445-1463

Unforeseen Succession – Identity Change Amongst Lateral Entrants in Family Firms

Pia Doris Morrow, EBS Universität für Wirtschaft und Recht (Bachelorarbeit)
Junior Management Science 9(2), 2024, 1464-1484

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Due to the increasing globalization of today’s world, descendants of family firms are often drawn to the unlimited opportunities outside their premises and no longer see their future workplace or the core of their identity within the family organization. However, this can lead to a rude awakening if so-called unforeseen events, which can range from death or illness of a family member to intra-family conflicts, changes in the business model and even financial problems, arise. This thesis examines the effects of such unexpected successions on the identity of lateral entrants in family firms and presents a roadmap with practical and theoretical action implications for unplanned successors during the pre-, initial, and post-succession phase. The analysis of qualitative data from interviews with lateral entrants and experts revealed overlaps in identity constructs and experiences. Before the occurrence of an unforeseen event, lateral entrants already displayed entrepreneurial traits and a willingness to take risks but lacked connection to the family firm and interest in succession. During the initial succession phase, they prioritized rationality, efficient teams, and immediate action over emotional processing. After an average of three years, lateral entrants became confident family entrepreneurs. Furthermore, unforeseen successors showed great interest in arranging their own succession at an early stage in order to pass on what they had learned and counteract crisis situations preventively. In general, the interviewed candidates demonstrated a continuous process of developing their own successor identity, which did not develop disruptively but rather steadily and was characterized by specific milestones shown in the successor roadmap of this thesis.

Keywords: crisis management; family firm succession; Gioia methodology; social identity theory; unforeseen succession.

DOI: https://doi.org/10.5282/jums/v9i2pp1464-1484

Analysing the Sustainability of Procurement in Family Businesses – A Study of Measurable Investments and Practices Based on ESG Principles

Philipp Schmidt, WHU – Otto Beisheim School of Management (Bachelorarbeit)
Junior Management Science 9(2), 2024, 1485-1510

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Sustainability has gained considerable prominence in recent decades as the inevitability of change becomes increasingly apparent. Family businesses constitute a significant and influential part of the global economy. Therefore, they are pivotal in addressing the world’s sustainability challenges. Despite extensive research on sustainability in corporations and public firms, there remains a dearth of comparable data concerning sustainability in privately owned family businesses. Through qualitative interviews and cross-case analyses, this thesis investigates the procurement practices within family businesses, deriving comparative insights guided by Environmental, Social, and Governance (ESG) criteria. The findings evaluate family businesses based on the ESG framework, visualising the development and integration of sustainable practices into the procurement processes. The research highlights the indirect impact of sustainability on developing competencies that can confer a competitive advantage. Additionally, it sheds light on the potential financial benefits reported by family businesses that have implemented sustainability measures. Overall, the findings contribute to the existing academic research on sustainability in businesses and family business studies.

Keywords: ESG; family business; performance-based assessment; procurement; qualitative interviews; sustainability.

DOI: https://doi.org/10.5282/jums/v9i2pp1485-1510

Leveraging Credit Ratings Through Impression Management: An Exploratory Study of German Small and Medium-Sized Family Firms

Ludwig Marrenbach, EBS Universität für Wirtschaft und Recht (Masterarbeit)
Junior Management Science 9(2), 2024, 1511-1539

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In an era marked by multi-crisis environments, the significance of corporate finance and credit ratings amplifies, especially for German small- and medium-sized family firms, often constrained in accessing capital markets. This thesis investigates how family firms employ impression management strategies within qualitative credit ratings to enhance their creditworthiness. Through exploratory qualitative research involving 17 interviews with German family firms and banks, primarily financing the Mittelstand, three key dimensions of impression management emerge: family-specific, business-specific, and relationshipspecific tactics. Family-specific factors, including values and generational succession, significantly influence qualitative credit rating scores. Moreover, the interplay between firms and banks, orchestrated by the owning family, shapes effective impression management strategies. This research underscores the role of family involvement in shaping qualitative credit ratings, emphasizing the interrelations among family, business, and banking dynamics. The discussion highlights the relevance and adaptability of these impression management dimensions, contributing to a deeper understanding of qualitative credit rating processes within the context of family firms.

Keywords: credit rating; family firm; impression management; leveraging credit ratings; qualitative rating factors.

DOI: https://doi.org/10.5282/jums/v9i2pp1511-1539

Multiple Case Study Analysis on the Consequences of Mandatory Sustainability Reporting in Private German Family Firms

Ralf Ebner, Technische Universität München (Masterarbeit)
Junior Management Science 9(2), 2024, 1540-1566

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This study explores the consequences of the Corporate Social Responsibility Reporting Directive (CSRD) on family firms. The European Commission (EC) extends under the CSRD the number of reporting companies from approximately 12,000 to 50,000, with the greatest increase in Germany. For 2025, around 13,000 German private family firms must disclose a sustainability report for the first time. Preparing a sustainability report that meets the requirements of the CSRD involves its own consequences. Based on a multiple case study of ten private German family firms, I develop a framework that illustrates implementation challenges and provides guidance to unlock business opportunities. Building on family business research, I contribute to the literature by differentiating family firms based on their sustainability strategy and maturity of sustainability reporting. This allows us to derive three archetypes facing varying implementation challenges. The analysis reveals direct and indirect opportunities along a firm’s value chain. After introducing a reporting process, all archetypes can benefit from direct opportunities, whereas a proactive sustainability strategy needs to unlock indirect opportunities.

Keywords: corporate sustainability; corporate sustainability reporting directive; family firms; mandatory sustainability reporting; socioemotional wealth.

DOI: https://doi.org/10.5282/jums/v9i2pp1540-1566

Aufwachsen zwischen „Gefühl und Geschäft“: Wertevermittlung in der Sozialisation von Kindern und Jugendlichen in Unternehmerfamilien

Valerie Raiss, Universität Witten/Herdecke (Bachelorarbeit)
Junior Management Science 9(2), 2024, 1567-1590

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Werte sind eine Art Kompass, die unsere Haltung und unser Verhalten leiten. Jene Werte, die während der Kindheit und Jugend im Elternhaus erlernt werden, prägen unsere frühe Identitätsbildung und Berufsorientierung. In Unternehmerfamilien ist die Sozialisation der Nachkommen zusätzlich durch die Präsenz des Familienunternehmens geprägt. Die vorliegende Arbeit erörtert, wie sich die widersprüchlichen Logiken von bindungsorientierter Familie und sachorientiertem Unternehmen auf die Wertevermittlung der potenziellen Unternehmensnachfolger auswirken. Diese Sozialisation zwischen Gefühl und Geschäft wird anhand einer qualitativen Literaturanalyse und einer qualitativen Auswertung von neun narrativen Interviews untersucht. Es kann geschlussfolgert werden, dass insbesondere das Vermögen des Unternehmens und die Nachfolgefrage einen dominanten Einfluss auf die Wertevermittlung der Kinder und Jugendlichen haben. Aus der Doppelverantwortung für Familie und Betrieb ergeben sich die Kernwerte der freien Lebensgestaltung, des familiären Zusammenhalts und der Bescheidenheit. In Unternehmerfamilien bildet folglich die Wertevermittlung der Nachkommen den Rahmen für ihre Haltung gegenüber dem Familienunternehmen und entscheidet somit über den transgenerationalen Erhalt des Betriebs.

Keywords: business family; family business; socialization; succession; values.

DOI: https://doi.org/10.5282/jums/v9i2pp1567-1590