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Thriving family businesses in tourism and hospitality: A systematic review and a synthesis of the relevant literature


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Purpose: This contribution appraises previous theoretical underpinnings that are focused on family businesses in tourism and hospitality. It discusses about the opportunities and challenges for their development. Method: A systematic literature review was carried out through peer reviewed publications that were indexed in Scopus and Web of Science. It relied on the PRISMA protocol to evaluate rigorous articles and reviews. A content analysis sheds light on high impact contributions on “family business” and “tourism” or “hospitality”, that were published since 2010. Findings: This bibliographic research captured, analyzed and synthesized the findings from previous contributions to identify the factors that are facilitating the growth prospects, long term sustainability and innovative approaches of family businesses within the tourism and hospitality industry. Originality: Currently, there are just a few contributions that advance relevant knowledge and understanding on the business development of family firms in tourism and hospitality. This research addresses this academic gap as these entities constitute the life blood of tourist destinations in various contexts.
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Thriving family businesses in tourism and hospitality: A systematic review
and a synthesis of the relevant literature
By Mark Anthony Camilleri
and Marco Valeri
Suggested citation: Camilleri, M.A. & Valeri, M. (2021). Thriving family businesses in tourism and
hospitality: A systematic review and a synthesis of the relevant literature. Journal of Family Business
Management, hiips://www emerald com/insight/content/doi/10.1108/JFBM-10-2021-0133
This is a prepublication version.
Purpose: This contribution appraises previous theoretical underpinnings that are focused on family
businesses in tourism and hospitality. It discusses about the opportunities and challenges for their
Method: A systematic literature review was carried out through peer reviewed publications that
were indexed in Scopus and Web of Science. It relied on the PRISMA protocol to evaluate rigorous
articles and reviews. A content analysis sheds light on high impact contributions on “family
business” and “tourism” or “hospitality”, that were published since 2010.
Findings: This bibliographic research captured, analyzed and synthesized the findings from
previous contributions to identify the factors that are facilitating the growth prospects, long term
sustainability and innovative approaches of family businesses within the tourism and hospitality
Originality: Currently, there are just a few contributions that advance relevant knowledge and
understanding on the business development of family firms in tourism and hospitality. This
research addresses this academic gap as these entities constitute the life blood of tourist
destinations in various contexts.
Keywords: tourism; hospitality; family businesses; enterprises; family enterprises; systematic review.
Department of Corporate Communication, University of Malta, Malta. Email:
Faculty of Economics, Niccolò Cusano University, Rome, Italy.
Small and medium sized businesses including family enterprises prevail in their
contribution to economic growth and competitiveness of tourist destinations (Getz and Carlsen,
2005; Kallmuenzer and Peters, 2018). Very often, they are resilient entities and proactive forces
in terms of innovation, employment and productivity. The family business is the oldest and the
most common model of a for-profit organization. Essentially, it is a commercial entity that is
usually owned, managed and led by multiple generations of a family members who are related by
blood, marriage or adoption. The owners of family firms have the ability to influence the vision of
their business and to formulate long term goals. They are usually involved in the organization,
leadership and management of their company. However, family firms may also be co-owned by
individuals who are not part of the family.
The Global Family Business Index defines a family firm as an entity that is controlled by
family as its members hold more than 50% of the voting rights. For a publicly listed firm, a firm
is classified as a family business if family members own at least 32% of the voting rights (OECD,
2021). Thus, the vast majority of businesses throughout the world, ranging from small shops to
multinational publicly listed organizations who have hundreds of thousands of employees — can
be considered family businesses.
In hospitality and tourism, a large number of small enterprises are run by family members
(Peters and Kallmuenzer, 2018; Getz and Carlsen, 2005; Getz and Carlsen, 2000) that are operating
in various sectors, ranging from hospitality, leisure, recreation and entertainment, among others.
Such enterprises are often described as “economic engines” of tourist destinations (Getz, Carlsen
and Morrison, 2004; Veloso et al., 2021) and play a critical role in the interface between
communities and tourists (Shaw and Williams, 2013).
While there is a wide plethora of literature that explores different businesses including
family firms and enterprises, we argue that there is still a gap in the extant academic knowledge
about family businesses in tourism and hospitality settings (Arcese et al., 2021; Baggio and Valeri,
2020; Esparza Aguilar, 2019; Kallmuenzer, Tajeddini, Gamage, T.C., (...), Rojas, A. and
Schallner, 2021; Rachmawati and Suroso, 2020). Globally, the vast majority of tourism and
hospitality businesses comprise small and medium sized enterprises (SMEs) (Baggio and Valeri,
2020). These entities are the ‘life blood’ of tourist destinations as many hotels, bed and breakfasts,
AirBnBs, restaurants, and small transportation service providers, etc., are usually run by family
members in various contexts.
In this light, this contribution examines relevant theoretical underpinnings and empirical
studies that are focused on family businesses in tourism and hospitality. Specifically, its underlying
research question is: “What are the factors that facilitate the growth and development of family
businesses within the tourism and hospitality industry context? Firstly, it provides a thorough
review of the extant literature revolving on tourism and hospitality firms that are owned and
managed by families. Secondly, it features the results from a systematic analysis that relied on a
PRISMA protocol to evaluate articles and review papers from rigorous, peer-reviewed journals.
Thirdly, it synthesizes and interprets their findings. In conclusion, it discusses about the
implications of this contribution, identifies its limitations and suggests future research avenues to
The family business legacy
Several researchers classified different types of family businesses. Very often, they strived
in their endeavors to clarify what constitutes a family business. Yet, currently, there is no agreed-
upon definition of what a family business is. Experts in the field tend to describe the characteristics
of family businesses and discuss about their organizational culture, ownership, leadership,
management involvement, strategic control, governance, et cetera (Valeri, 2021; Valeri and
Katsoni, 2021). All of these criteria can be considered as very important elements of family firms,
depending on where they are, in terms of their lifecycle. Astrachan and Shanker (2003) provided
a broad definition on this concept. They argued that family businesses are controlled by members
of the family, who have to make decisions regarding their strategic direction.
They were aware that this definition covered a “gamut of possibilities”, ranging from large
public companies that are run by descendants of founding family members, to shareholders, board
members and low-level employees. In many cases, previous authors contended that firms with the
same extent of family involvement were or were not always considering themselves as family
businesses, and that their views may change over time. Therefore, there are different definitions
for family firms in the academic literature.
Family businesses are business entities that are administered by owner-managers and their
relatives. They are different from other companies. Their form of ownership may facilitate their
ability to take critical actions quickly and to respond to a changing marketing environment
(Mtapuri, Camilleri and Dłużewska, 2021; PeñaMiranda, GuevaraPlaza, FraizBrea & Camilleri,
2021). Family members may usually have closer ties that enable them to come together and do
whatever it takes towards a common purpose, to safeguard their family’s health and prosperity.
While nonfamily businesses may typically focus on maximizing their financial performance and
shareholder value (Camilleri, 2020), family owners are more likely to focus on values like family
legacy and reputation.
Many authors argued that a family business involves family members who are exerting
their influence or control over the strategic direction of a company. Others discussed about family
firm behaviors and shed light on their unique, inseparable, synergistic resources and capabilities
arising from family involvement and interactions (Chrisman, Chua and Sharma, 2005;
Habbershon, Williams and MacMillan, 2003). For example, Seaman et al. (2017) consider the
interactions between family, business and friendship networks. Other authors also advance
relevant knowledge on this topic (Valeri, 2016; Baggio and Valeri, 2020; Valeri and Baggio,
2020a; 2020b; 2020c; 2021).
Unlike the corporations’ executives, family members are usually personally as well as
professionally involved in their entrepreneurial activities. In this case, there are no boundaries for
them. Their relationships with employees are usually characterized by their values of trust,
commitment, empathy and transparency as opposed to those held by larger companies. Hence,
family firms may not always necessitate formal structures and bureaucratic systems that are
prevalent in non-family entities. Family businesses tend to utilize looser control systems, may not
rely on procedural hurdles, formal documentation or transactions. Thus, the informal style of
family businesses can offer motivating working environments.
Previous research reported that family owner-managers would typically engage in two-way
communications with their employees and may usually forge closer relationships with them. This
type of enterprise is conspicuous in small organizations where employees are non-unionized, even
though they may be expected to engage in varied roles and could be assigned different duties and
responsibilities. Such workplaces will usually have low turn-over rates, and still experience fewer
industrial disputes and strikes than other businesses.
Conversely, family firms can be dictatorially run by a coercive owner-manager. As a result,
employees and family members may have little or no involvement in the running of their business.
A typical tension field that may occur in family businesses happens when there is a conflict of
interest between the personal needs of the owner–managers and their business. Hence, the business
owners’ personal characteristics and attributes may play a key role in the performance of their
family firm. Relevant studies on this topic often reported mixed findings on the working
environment and organizational culture of family businesses. Some authors noted that while
employees of nonfamily businesses seem to enjoy superior employment packages, rewards,
employment terms and physical working conditions, the quality of the job environment in small
businesses is poorer than what you find in their larger counterparts (Russo and Tencati, 2009).
Chrisman et al. (2005) maintained that two firms with the same extent of family
involvement may not necessarily be considered as family businesses; if they lack the intention,
vision, familiness, and/or behaviors that truly represent the essence of a family business. They
went on to suggest that family firms exist because of the reciprocal economic and non-economic
value that is cocreated through the combination of family and business systems. On the other hand,
there may be problems arising from close kinship, ownership and management transfers, that may
ultimately result in inefficiencies, conflicting intentions and behaviors that could limit the ability
of family businesses to create or maintain distinctive familiness (Miller, Steier and Le Breton-
Miller, 2003; Steier, 2001, 2003; Stewart, 2003).
For instance, certain family members may want to exert control over their firm in ways that
would nullify the value of existing competences and capabilities. Their behaviors could slow down
or prevent the development of their organization. The extent to which a firm may be considered as
a family business could be determined by the family members’ involvement in influencing the
leadership decision in their business (Chrisman et al., 2005; Astrachan, Klein and Smyrnios, 2002).
It is important to clearly distinguish the differences between family and nonfamily businesses
to subdivide them into various categories. For example, family businesses can be categorized by
their size.
Like other SMEs, small family firms may have limited access to resources including
financial capital and human capabilities. The very size of their businesses may create a special
condition, which is often referred to as `resource poverty' (O'Cass and Weerawardena, 2009).
SMEs and family businesses tend to find themselves in an equity gap, where it is very difficult to
acquire finance to operate efficiently (Camilleri, 2018). Although banks are key providers of
finance through the provision of loans, the availability of unsecured bank finance to these
businesses is usually very limited.
The growth of small family enterprises remains severely restricted, particularly if they
cannot provide additional securities or collaterals for their investments. Even small businesses with
high growth potential may experience difficulties in raising relatively modest amounts of risk
capital. Moreover, external forces and potential threats from the marketing environment could
have more devastating effects on family businesses than on other companies. For instance, changes
in government regulations, tax laws, labor legislation and interest rates may usually affect a greater
percentage of expenses in smaller family businesses than they do for other organizations (Brune,
Thomsen and Watrin, 2019).
Family-owned businesses may evolve over time as their ownership may be transferred
from founder-members to their relatives (Peters, Raich, Märk and Pichler, 2012). Various forms
of succession may result in different ownership structures, revised duties and responsibilities of
employees of family businesses. The descendants of unrelated founders can find themselves
owning and managing their company and may even sit in the same board. In this case, there will
be two or more families who have a stake in the business. However, just one of them will be in
control (i.e. the largest shareholder) (Astrachan et al., 2002).
For instance, Hoshi Ryokan, Komatsu is one of the oldest hotels in the world. This property
has been owned and managed by the Hoshi family in the past centuries. Other popular family
businesses in the hospitality sector include Gmachl in Salzburg and Hotel Sacher in Vienna
(Austria); Peninsula Hotel in Hong Kong (China); Bristol Hotel in Paris (France); Villa D’Este in
Como, Italy; Hoshi Ryokan Komatsu
in Ishikawa (Japan); Baur-au-Lac in Zurich, Switzerland;
Goring Hotel in London, West Lodge Park in Hadley Wood, Hertfordshire (UK) and Seaside hotel
Kennebunk in Maine (USA), among others.
This research adopted PRISMA’s robust protocol (Moher, Shamseer, Clarke, Ghersi,
Liberati, Petticrew ... and Stewart, 2015) to systematically extract and evaluate the content of high-
impact academic contributions that that were indexed in Scopus and Web of Science. Hence, this
review was carefully planned and documented in all stages, to ensure the accountability, integrity,
and transparency of the findings. The search query considered the total number of articles that
were published in English through rigorous journals. It also provided details on the number of
publications that were published each year. Scopus as well as Web of Science featured a list of
contributing authors, identified their papers’ subject areas and keywords. Moreover, it sorted them
from highest to lowest. These two repositories clearly distinguished between different publication
stages, document types and source titles. Table 1 clarifies the methodology that was used to
capture, analyze and synthesize the findings from this contribution’s systematic review.
Table 1: The systematic review
Formulation of the research question
PRISMA protocol for systematic analysis
Relevant keywords were inserted in the search query of two
databases (i.e. Scopus and Web of Science).
Only contributions that were published in rigorous, peer-
reviewed journals were identified and screened in this review.
Duplicates (that were featured in both databases) were removed.
The query yielded a list of the top journals, related subject areas
of contributions, and reported the most popular keywords that
were inserted by the authors.
Syntheses and interpretation of the findings from eligible
Conclusions and implications
The systematic review considered publications that featured “family business” AND
“tourism” OR “hospitality” in their title, abstract and keywords, as of October 2021. The search
query excluded books, book series, conference proceedings and trade publications from this review
exercise - as they were not considered as rigorous as academic journals. The results revealed that
there were 108 contributions in Scopus and 35 in Web of Science. Since 2010, there 68 that were
indexed in Scopus and 32 in Web of Science (17 were featured in Social Sciences Citation Index,
11 in Emerging Sources Citation Index and 4 in SCI-EXPANDED). Table 2 presents a list of 43
articles that were focused on family businesses in tourism. It endorses the contributing authors,
describes their methodological approaches, features the keywords of their research and clarifies
their research questions. The following contributions were published since 2010 (to date):
According to Scopus, the top 10 subject areas of these articles were related to Business,
Management and Accounting (45), Social Sciences (26), Economics, Econometrics and Finance
(14), Environmental Science (9), Energy (5), Agricultural and Biological Sciences (4), Arts and
Humanities (3), Decision Sciences (2), Earth and Planetary Sciences (1), and Engineering (1).
Web of Sciences categorized the search results according to the following subject areas:
Hospitality, Leisure, Sport and Tourism (11), Management (7), Agricultural Economics Policy (2),
Business (2), Economics (2), Food Science Technology (2), Environmental Sciences (1),
Environmental Studies (1), Green Sustainable Science Technology (1), Sociology (1) and
Transport (1).
Scopus reported that the Journal of Family Business Management (5) was the top journal that
published most papers on the topics related to family business in tourism. It was closely followed
by Sustainability Switzerland (4), Asia Pacific Journal of Tourism Research (3), British Food
Journal (3), Current Issues in Tourism (2), Academia Revista Latino Americana de Administracion
(1), Administrative Sciences (1), Asian Academy of Management Journal (1), Business History
(1), and Cuadernos de Administracion (1). Web of Science reported the following results: Journal
of Family Business Management (3), Asia Pacific Journal of Tourism Research (2), British Food
Journal (2), Current Issues in Tourism (2), Sustainability (2), Academia Revista Latinoamericana
de Administracion (1), Economic Research Ekonomska (1), Ekonomski Pregled (1), European
Journal of Management (1), International Journal of Contemporary Hospitality Management (1),
and International Journal of Hospitality Management (1).
The most used keywords in Scopus-indexed publications included: Family Business (30),
Tourism (18), Business Development (8), Sustainability (7), Innovation (6), Tourism Development
(6), Hospitality (5), Service Sector (5), Small and Medium-sized Enterprise (5), and
Entrepreneurship (4). The results in Web of Science do not reveal the authors’ keywords that were
included in their publications. Interestingly, business development (Chan and Quah, 2012; Elmo
et al., 2020; Fonseca and Carnicelli, 2021; Peters and Kallmuenzer, 2018; Pikkemaat and Zehrer,
2016; Prevolsek et al., 2017; Walton, 2014;) was featured as the fourth most popular keyword,
after “family business”, “tourism” and “hospitality”.
The development of family firms in tourism and hospitality
Tourism and hospitality family businesses are characterized by their specific ownership,
leadership and organization as well as by their stakeholder relationships, that differentiate them
from nonfamily companies
Engeset, 2020; Martínez, Stöhr and Quiroga, 2007; Rosalin et al.,
2016; Kumar et al., 2021). Notwithstanding, there are various variables that could enable or disable
family firms of different types and sizes, to generate and sustain new business development in the
long term (Peters and Kallmuenzer, 2018).
The owners of tourism family firms may try to balance their business objectives with those
of their family’s interests (Getz and Carlsen, 2005). Other research indicated that the objectives of
such family businesses are different than nonfamily-run companies. The former businesses are
usually influenced by family issues and lifestyle objectives. While Getz and Carlsen (2000) found
that the majority of businesses considered family goals as more important than their business goals;
Andersson, Carlsen and Getz (2002) argued that tourism family businesses ought to operate in a
profitable manner, if they want to support their family members, and to maintain a decent quality
of life. Their thriving businesses could enable them to create a family legacy and to pass on their
company to the next generation (Andersson et al., 2002). Again, this cannot be achieved unless it
is financially successful
Erdogan, Rondi, De Massis, 2020;
Williams, Pieper, Kellermanns &
Astrachan, 2018).
Small family-run businesses may be expected to provide employment opportunities to
family members. Hence, they are not always recruiting the most qualified employees for the job.
This may result in conflicts among employees (Miller et al., 2003; Peters and Buhalis, 2004).
Conversely, multinational corporations are capable of attracting the best candidates for the job.
They are usually in a better position to lure investors as well as venture capitalists’ funds. On the
other hand, family business owners may be reluctant to accept financial injections from external
investors, for fear of losing control over their business. The personal qualities, traits and attributes
of the business owners can have significant effects on the long-term prospects of the companies
they lead and manage (Hallak, Assaker and Connor, 2014).
Family firms are not always in a position to raise their margins and to allocate financial
resources for research and development and toward market research, product development, skills
or creativity enhancement
Pikkemaat and Zehrer 2016). Very often, they are not benefiting from
economies of scale that are afforded by bigger businesses. Moreover, they may be reluctant to
cooperate and forge alliances with other businesses, including with competitors to gain economies
of scope, that could enable them to improve their services. Many academic researchers argued that
family firms ought to value long-term cooperation and social networking within the communities
where they operate their business (Pikkemaat and Zehrer 2016; Camisón et al., 2016). Their
networking (Baggio and Valeri, 2020) and innovation management processes (Kallmuenzer, 2018;
Vrontis et al., 2016) are often driven by local community needs and by their orientations towards
sustainable tourism development (Baggio and Valeri, 2020; Camilleri, 2014; Ismail et al., 2019;
Kallmuenzer et al., 2018).
Family members may not possess the networking skills to develop fruitful relationships
with corporate stakeholders (Arcese et al., 2020; Camilleri, 2016; Troise & Camilleri, 2021) and/or
may lack adequate knowledge to formulate appropriate business strategies for their company
(Pikkemaat and Zehrer, 2016). Their businesses are expected to continuously innovate to
guarantee their survival and to improve their performance in the long term (Elmo et al., 2020). In
a similar vein, Rachmawati et al., (2020) pointed out that family entrepreneurs need to be more
innovative and take risks so that they can compete in the global scenario. They suggested that their
internationalization prospects may help their business to improve their reputation in order to
enhance their bottom lines, whilst satisfying their families’ interests. Other authors contended that
they have to identify innovation opportunities (Arcese et al., 2020; Giacosa et al., 2017; López-
Chávez et al., 2021; Valeri et al., 2020) whilst defending their values and traditions in order to
guarantee that their family business legacy transcends from one generation to the next (Obermayer
et al., 2021; Santos et al., 2021c).
Succession issues may affect the form of ownership structures of tourism family enterprises
as well as their governance, leadership, management and strategies. Elmo et al. (2020) maintained
that the innovation process is likely to occur after succession periods when there are changes in
the ownership of family businesses. They went on to suggest that successors (i.e. incoming owner-
managers) of family firms may represent new opportunities, resources, and sources of knowledge
and information for them. Other authors delved into family succession matters (Kallmuenzer et
al., 2021; Ollenburg and Buckley, 2011; Prevolsek et al., 2017; Steier, 2001). In the main, these
commentators recognized that succession remains a contentious issue that may either result in
positive outcomes or in negative repercussions that can ultimately hinder the growth and
development of family businesses (Miller, 2003; Peters et al., 2012).
This systematic review confirmed that lately there is a growing interest among academia
on research that is focused on small businesses in tourism and hospitality (e.g. Arcese et al., 2020;
Baggio and Valeri, 2020; Peters and Kallmuenzer, 2018; Vrontis et al., 2016). It clarified that there
are a number of internal and external factors that can affect their long-term prospects (Camilleri,
2017; Camilleri, 2021a; Giousmpasoglou, 2019; Zapalska and Brozik, 2013; Santos et al., 2021a;
2021b). Moreover, it reported that more authors are increasingly investigating their business
development, sustainable development and innovation capabilities (Mtapuri et al., 2021, Peña
Miranda et al., 2021). It suggests that family firms differentiate themselves from nonfamily
businesses as they consider other important values in addition to profit, including family legacy,
trust, commitment and reputation. It explained that it is in their interest to engage with different
stakeholders (including competitors) (Camilleri, 2019) to benefit from synergistic resources and
capabilities, to increase their economies of scale and scope, to thrive in an increasingly competitive
Currently, many businesses are still feeling the impact of the Coronavirus (COVID-19)
pandemic (Albattat et al., 2020; Camilleri, 2021b; Chemli et al., 2020; Toanoglou et al., 2021).
During this crisis, family enterprises and other companies, faced serious liquidity shortages and
became cash strapped after they experienced a considerable decline in their business activities. In
many cases, they were resilient as they reinforced their purpose and values to ensure that their
business remains intact. Generally, they strived in their endeavors to safeguard their financial and
emotional investments, to preserve their legacy. Those family owner managers that have better
adapted to the pandemic and who are still operating their tourism or hospitality business are better
prepared for economic growth and development in the post-pandemic context.
The contribution is not without limitations. Although this systematic review has carefully
considered rigorous articles and reviews that are focused on the development of family businesses
in tourism and hospitality, there is scope to investigate different forms of family hotels and family
restaurants in more depth and breadth, in terms of their sizes, types of ownership, succession
issues, organizational cultures, access to financial resources, et cetera. Future studies can explore
the differences between family enterprises and SMEs within the tourism and hospitality industries,
in various contexts.
The authors thank the anonymous reviewers for their constructive remarks and suggestions.
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... Their access to equity or debt financing through traditional institutions like banks and/or other financial service providers is usually very limited (Camilleri, 2018;Boylan et al., 2018). Typically, they are required to provide a collateral to obtain finance, even though, young enterprises and startups with promising opportunities for potential investment may usually prefer having a lower debt/equity ratio (Camilleri and Valeri, 2021;Miglo, 2020). ...
... New businesses like startups, as well as small businesses may usually possess fewer resources including liquidity, than established businesses (Camilleri & Valeri, 2021;Elia et al., 2021). They may also have access to limited competences and capabilities. ...
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Purpose: This contribution evaluates key theoretical bases that were used in previous research, to investigate the use of crowdfunding platforms by small businesses and startups. It presents the findings from a systematic review to better explain the pros and cons of utilizing these disruptive technologies for crowdsourcing or crowd-investing purposes. Method: A PRISMA’s methodical protocol was used to search, screen, extract and scrutinize seventy-two (72) articles that were indexed in both Scopus and Web of Science. The researcher examines these research questions and describes their methodologies. Afterwards, he synthesizes the findings from previous literature, outlines the implications of this contribution and discusses about future research avenues. Findings: A thorough review of the relevant literature suggests that there are opportunities as well as challenges for project initiators as well as for crowd-investors, if they are considering equity crowdfunding, peer-to-peer (P2P) lending and rewards-based crowdfunding platforms, among others, to raise awareness about their projects, and to access finance from crowd-investors. Research limitations/implications: Further research is required on this timely topic. There are a number of theories relating to technology adoption and/or innovation management, strategic management, accounting and financial reporting, and normative/business ethics, among other research areas, that can be utilized as theoretical bases, to explore this topic. Practical implications: Crowd-investors are striving in their endeavors to find a trade-off between potential rewards and a number of risks that are associated with crowd-financing. Originality: Currently, there are few systematic reviews and conceptual articles focused on the crowdfunding of small businesses and startups. Hence this contribution closes this gap in the academic literature. Moreover, it links the extant theory to practice. It clarifies that the resource-based view theory of the firm, the theory of planned behavior, the diffusion of innovations theory, as well as the signaling theory, among other conceptual frameworks, can be used to investigate different facets of crowdfunding/crowdsourcing and crowd-investing.
... Recently, the focus is more on innovation in the family business (Migliori et al. 2020 andStrobl et al. 2020) and stimulating the family business in the tourism sector (Guttentag, 2015). The tourism sector is believed to create a new life for rural people (Alrawadieh & Alrawadieh, 2018;Kokkranikal & Morrison, 2011) by increasing the competitiveness of the destination (Obermayeret al., 2021;Kumar et al., 2021;Santos et al., 2021;Shekhar et al., 2021;Camilleri & Valeri, 2021). ...
... This process is defined as the set of actions, events, and developments that result in transferring a firm's governance from one member of the same family to another (De Massis et al., 2008). A factor that represents one of the greatest challenges that today's family businesses must handle (Calabrò et al., 2021) to survive. Heterogeneity (Pittino et al., 2018) in strategic decision-making choices leads to a variety of structures in family business ownership that can differ for both the decision-making process, which changes according to the forced environmental stimuli like in the case of La Bifora, and the management style, which still retains its democratic nature despite the pandemic crisis (Prosciuttificio Ciarcia). ...
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Purpose: This paper explores the impact of Socioemotional Wealth (SEW) on family firms' resilience during the Covid-19 pandemic. Design/Methodology/Approach: Through a multiple case study analysis, constructs drafted from the literature were associated with each of the FIBER approach dimensions and investigated through open-ended interviews with two family firm managers. Findings: Results revealed which dimensions of this approach proved to be most relevant, and by which conditions they were influenced.
... The above discussion points out that knowledge management is very critical for the successful performance of small businesses (Camilleri and Valeri, 2021;Obermayer et al., 2021;Deb et al., 2022). So, the current study suggests that there needs to be a systematic review of quality studies on knowledge management for small businesses to find out why they manage knowledge, how they manage knowledge and what the problems are. ...
Purpose This paper aims to map the knowledge management research in small businesses and suggest future actions to strengthen managerial practices. Knowledge management practices foster the growth of small businesses. They allow innovation to grow within the institutions, enhance customer satisfaction and reduce employee absenteeism and attrition. Design/methodology/approach The study adopts a bibliometric protocol to retrieve the 686 articles published in the Web of Science (WoS) database. The WoS database is selected to ensure only quality and peer-reviewed publications are analysed in the study. It then identifies the top contributions, and existing thematic areas, and suggests future research and policy actions for boosting economic growth through small business. The study uses VOSviewer, Science of Science (Sci2) and Gephi to conduct the bibliometric and network analysis. Findings The results from keyword co-occurrence and co-citation analysis helps in identifying thematic areas. The findings highlight that there exist five major themes in knowledge management research for small businesses. The dynamic co-citation analysis helps in tracing the evolution of these clusters and suggests future themes, research directions and methodological advances in the theme. PageRank analysis helps in identifying the top articles published on high-impact journals in the theme. Research limitations/implications The study helps researchers by summarising existing literature and identifying key thematic areas. It also assists policymakers by recommending actions to improve knowledge management practises in small businesses to gain a competitive advantage. The paper suffers from the limitations of bibliometric analysis. The sample is collected from a single data source and a single type (journal articles) and the statistical accuracy of the analysis depends on the quality of the sample. Originality/value The study’s originality lies in using fit-for-purpose software in clustering the research and suggesting actions. To the best of the authors’ knowledge, this study is one of its kind in applying bibliometrics in studying and covering several aspects of knowledge management in small businesses with a combination of software.
... This experiment included the recording of radio ads and a questionnaire which was applied through Toluna Global Panel Community. Hotels were selected because a significant proportion of firms in this sector are family owned and managed; however, non-family firms are also part of this industry (Camilleri & Valeri, 2021;Diéguez-Soto et al., 2017;Merino et al., 2015). The results confirm that a strategy, which communicates the family image of a firm more openly (e.g., family preservation instead of family subordination), and ad length positively influences the perception of the family firm's image. ...
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Understanding how family firms can use their family image to their advantage in communication strategies is an opportunity for business continuity. This study identifies the effects of family hotels' corporate brand strategy through radio advertising on customer perceptions and attitudes using family image communication literature and radio advertising research. Online experiment using radio ads from these hotels and a survey of 1002 participants from Chile and Spain were conducted. The results suggest that strategies improving the firm's ability to communicate the family image results in better consumer response in terms of expectation, perceived quality, visit intention, and willingness to pay more. We conclude that radio ads are an effective channel for communicating family firm images. Managers can take advantage of monetizing the benefits of family firm images through radio ads.
... Innovation in tourism and hospitality is more limited in FBs than in NFBs. The factors that determine whether a FB will innovate are either economic factors, such as financial restrictions, or non-economic factors, such as risk aversion, the maintenance of traditional products, family conflict and closure to external information by investors (Hauck and Pr€ ugl, 2015;Camilleri and Valeri, 2021;Deb et al., 2022b;Shekhar et al., 2021). In the same way, FBs may give up on implementing sustainability practices, as their implementation often requires innovation and high risk (Memili et al., 2017;Elmo et al., 2020). ...
In the tourism and hospitality industry (THI), most enterprises are characterized by small size and family ownership (Getz and Carlsen, 2000, 2005; Cunningham and Seaman, 2022; Valeri, 2022; Valeri and Katsoni, 2021). Between the family and the firm, an exclusive entrepreneurial culture develops (Astrachan, 2003; Peters and Kallmuenzer, 2018), potentially making transgenerational entrepreneurship the main economic engine in the tourism industry (Puzi and Ismail, 2017). Influenced by the family conflicts, local culture and commercial interests, the management of this type of business involving family members has become increasingly more complex over the years (Ismail et al., 2019). This highlights that the development of a family business (FB) is influenced by three factors: the family, property and the business system adopted (Gersick et al., 1997; Peters and Buhalis, 2004). These characteristics of FB are connected to the family’s life stage and its culture. Human, social and financial capital represent the natural resources owned by the FB (Ireland et al., 2003). The exploitation of resources in the FB approach is different from that in the non-family business (NFB) approach (Sirmon and Hitt, 2003). These exclusive resources reflect the fact that the family acts as owners. Therefore, the intangible familiarity factor is the element that diversifies the FB from other NFBs (Valeri, 2021; Alkhatib and Valeri, 2022) and can represent a competitive advantage; however, at the same time, by having a suffocating effect (Craig and Lindsay, 2002), family-related skills and resources could inhibit growth (Camis�on et al., 2016). Regarding market performance, FBs have advantages and disadvantages. The advantages are represented by personal relationships with corporate stakeholders (Mustakallio et al., 2002; Baggio and Valeri, 2020; Valeri and Baggio, 2020, 2021a, b; Gajdos�ık and Valeri, 2022) and strong social values (Peters and Kallmuenzer, 2018), highlighting the positive relationship between family involvement and performance (Allouche et al., 2008; Lindow et al., 2010; Block et al., 2011; Chu, 2009; Wagner et al., 2015). The disadvantages are often related to the nature of relationships often characterized by the lack of professionalism of family members (Chaudhry and Crick, 2004; Crick et al., 2018) and to the absence of a business strategy or a vision (Legoh�erel et al., 2004; Pikkemaat and Zehrer, 2016). Therefore, business development and family history are two related concepts that influence each other. A FB is governed by the objective of pursuing the vision of a business, which is owned by a dominant group and is under the control of family members, such that the business is sustainable across generations of the family (Chua et al., 1999). In a FB, the important elements are the following: the same family members’ exercise of control of the FB, the pre-eminence of family benefits and the production of sustainable income for future generations (Jaskiewicz et al., 2015).
... Business owners are generally local resident diaspora, who have succeeded financially outside their hometown. They are mostly family business (Camilleri and Valeri, 2021;Shekhar et al., 2021;Veloso et al., 2021;Deb et al., 2022). The main goal is not to maximize profits. ...
Purpose – This research aims to model the existing system of destination competitiveness, identifies leverage points and develop revised model to achieve sustainable competitiveness. Design/methodology/approach – System dynamics is used as method of modeling destination competitiveness. Structure of model utilizes 9-factor model as reference. Leverage points are identified using system archetypes. Revised model is built with resource-based view (RBV). Case study was conducted in Samosir, Toba Lake. Data used are secondary data and results of in-depth interviews. Findings – There are 3 sub-systemic characteristics (archetypes) that hinder competitiveness. They are limit to growth quality gap, fix that fails infrastructure and promotion, tragedy of common lake pollution. Destination was unable to meet tourist expectations. Tourists spending decreased, demand size was small. Industries are unable to increase capabilities. Professionals, entrepreneurs, local workers, supporting industries are less interested in entering industry. Government policies do not match with destination’s needs. Lake as main attraction is getting polluted. To achieve sustainable competitiveness, destination must utilize their valuable, rare and inimitable (VRI) resources and capabilities to design unique experiences for tourists, hence sustainable. Practical implications – Government policy should be shifted to prioritizing development of valuable, rare, inimitable and well-organized resources and capabilities of destination, to produce unique tourist experience and achieve sustainable competitiveness. Originality/value – Methods and findings, combining system dynamics, system archetype, 9-factor model and RBV to achieve sustainable competitiveness is novel and can enrich tourism sustainable competitiveness theory/concept. Keywords Tourism, Destination competitiveness, Sustainable competitiveness, System dynamics, Resource-based view, Toba lake
... The family has a stock of affective values invested in the firm and its preservation becomes a priority, which makes family businesses different from non-family firms (Chua et al., 2015). Relative to non-family businesses, family firms attach great importance to other relevant values in addition to financial performance, such as family legacy, trust, commitment and reputation (Camilleri and Valeri, 2021). ...
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Purpose The purpose of this paper is to investigate the effect of family control on the association between related party transactions (RPTs) and different forms of accrual-based earnings management (AEM) and real earnings management (REM), analyzing the effect of board characteristics on the possible association. Design/methodology/approach This paper studies a sample of Italian non-financial listed firms over the 2014–2019 period, by GLS regression models, controlling for the fixed effects of the company's sector of operation and the year. Findings Results indicate a different association between RPTs and earnings management (EM) in family and non-family firms. They point out that family firms use RPTs in association with downward AEM and REM perpetrated by abnormal discretionary expenses as well as a substitute of REM via abnormal production costs. For non-family firms, findings indicate only a substitution effect between RPTs and AEM. Furthermore, CEO duality, board gender diversity and the presence of the family on the board positively moderate the association between RPTs and, respectively, REM implemented through sales manipulations, downward AEM and upward AEM. Originality/value This study suggests that the socioemotional wealth (SEW) differently affects the relationship between RPTs and EM, according to the form of the latter. It also points out family firms' heterogeneity in earnings manipulations, by providing evidence of the moderating role of board characteristics on the association between RPTs and the various forms of EM.
... However, the recent COVID-19 pandemic has caused losses to the entire economy, and the tourism industry has been no exception. From multinational organisations to small family businesses, the majority of tourism destinations have been affected by the coronavirus pandemic, which forced them to build resilience (Camilleri and Valeri, 2021). Numerous researchers have analysed and proposed ways to help recover the tourism industry after the COVID-19 pandemic (Valeri, 2022a;Ahmad et al., 2021). ...
Purpose The tourism industry has a huge potential, and the return to its state prior to the COVID-19 pandemic is a large stake for any economy. Tourism e-WOM is an important contributor towards attracting visitors and choosing tourism destinations. Drawing from the value and personality theories, the aim of this study is to investigate the factors determining e-WOM intentions in tourism. Design/methodology/approach Based on a sample of 469 responses collected online from a random sample of Romanians and using partial least squares structural equation modelling, the authors hereby analyze the influence of economic, emotional, social and altruistic values on e-WOM intentions, and the moderating effects of the big five personality traits (openness, conscientiousness, extraversion, agreeableness and neuroticism) on this relationship. Findings The results of the study revealed that except economic value, all the exogenous (emotional, social and altruistic) values have a positive influence on the e-WOM intentions. However, the study further suggested that the big five personality traits do not moderate the relationship between the value factors and e-WOM intentions. Research limitations/implications The influence of perceived value will be useful for building a stout marketing strategy and to describe e-WOM behaviour among Romanians. Practical implications Tourism service providers can promote their services by stressing the various types of value bestowed by their offers. Originality/value Although inspired by existing research, the current study is original in that the model used has not yet been proposed before, all the more so for the particular case of the tourism industry.
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Purpose Both Hungary and Germany belong to the old-world wine-producing countries and have long winemaking traditions. This paper aims at exploring and comparing online branding strategies of family SME (small and medium sized enterprises) wineries at Lake Balaton (Hungary) and Lake Constance (Germany), as two wine regions with similar geographic characteristics. Design/methodology/approach This paper, based on a total sample of 37 family wineries, 15 at Lake Balaton and 22 at Lake Constance, investigates the differences in brand identity on the website, brand image in social media and online communication channels deployed in both wine regions. The study applies a qualitative methodology using MaxQDA software for conducting content analysis of texts in websites and social media. Descriptive statistics and t -test were conducted to compare the usage of different communication channels and determine statistical significance. Findings At Lake Balaton, the vineyard, the winery and the family, while at Lake Constance, the lake itself and the grape are highlighted regarding family winery brand identity. The customer-based brand image of Hungarian family wineries emphasizes wine, food and service, with the predominant use of Facebook. In the German family wineries, the focus of brand identity is on wine, friendliness and taste and includes more extensive usage of websites. Originality/value The paper deploys a novel methodology, both in terms of tools used as well as geographic focus to uncover online branding patterns of family wineries, thereby providing implications for wine and tourism industries at lake regions. It compares the share of selected most-used words in the overall text in websites and in social media, and presents the key findings from this innovative approach.
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Despite in the last decade there was a significant increase in the corporate social responsibility (CSR) literature, little attention has been devoted to shed light on strategic CSR practices in the hospitality industry, especially in the context of developing countries. This paper uses a case-study methodology to investigate CSR practices of eight hotels in Santa Marta, Colombia. The results show that hotel companies were implementing different CSR behaviors that can be classified as philanthropic-reactive, legal-reactive and active groups. The findings revealed that their CSR activities were intended to add value to their economic performance. Hence, this contribution discusses about these hospitality establishments’ individual improvement plans and puts forward a CSR management model for the entire industry. In conclusion, it presents important theoretical as well as managerial implications for practitioners, and proposes future research avenues. The authors suggest that future research should take into account other companies’ CSR activities from different industries.
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This contribution suggests that community-based tourism (CBT) can create commercial and social value to destinations, local businesses as well as to residents. At the same time, it clarifies that CBT offers rich, immersive cultural experiences that can enhance the tourists’ experiences when visiting different communities. It posits that sustainable CBT approaches can improve the local economic development (LED) of communities by reducing economic leakages from the tourism industry. It explains that there is scope for destination managers and tourism businesses to engage in sustainable tourism practices and to utilize local resources, in a strategic manner, in order to maximize linkages in their economy. In conclusion, this paper puts forward a theoretical model that clearly illustrates the business case to implement sustainable CBT strategies. It also implies that these strategies can ultimately result in opportunities for economic growth of tourism businesses and may increase the competitiveness of destinations, whilst safeguarding the environment and addressing their carrying capacities.
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Generally, businesses are capable of implementing corporate social responsibility (CSR) and environmentally sustainable behaviors as they pursue their profit-making activities. While there are a number of contributions that investigated the effect of CSR and responsible environmental practices on the companies' bottom lines, few studies were focused on the strategic attributions of responsible corporate behaviors in the tourism industry context, during an unprecedented pandemic situation. Hence this research investigates the stakeholders' perceptions on the hospitality businesses' social responsibility and environmentally friendly practices. The data were collected from a sample of 462 research participants who worked in tourism and hospitality. The findings suggest that their employers' stakeholders were triggering their businesses to engage in ethical behaviors, responsible human resources management and to invest in environmentally friendly initiatives. As a result, they were creating value to their companies, to society and to the natural environment. In sum, this contribution implies that there are strategic attributions of CSR behaviors and of environmentally sustainable practices as responsible businesses can improve their growth prospects and increase their competitiveness in the long run.
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The purpose of this paper is to investigate how family businesses utilise social media tools, to determine what the purposes, benefits and challenges are, and to discover competencies that are important in social networking and cooperation. A multiple case study method was employed based on semi-structured interviews with six wineries located in the Balaton region, Hungary. The interviewees and the wineries they represented were selected among the 55 wineries applying the non-probability sampling purposive technique and the interviews were analysed using a case study method and qualitative content analysis. The results show that Facebook is the most popular social media tool that wineries use to increase brand awareness and reach new potential customers. This study also presents a “Social media roadmap” framework for good practice and proposes practical steps family businesses may take to help them succeed in their marketing activities. Keywords: Family business, SME, social media, marketing, networking, winery
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Firms aim at achieving their economic interests without neglecting the needs of local and regional communities and the environment itself. The process involves defining and implementing Social Responsibility strategies that leverage organizational competitiveness and sustainability. In this context, the current study purposes to demonstrate how Corporate Social Responsibility (CSR) and a sustainable orientation influence the satisfaction and loyalty of academic tourists to the Metro of Porto (in Portugal). More specifically, our study aims to assess the satisfaction of academic tourists with the Metro of Porto and, additionally, to analyze the variables that determine the satisfaction and loyalty of these tourists to this specific transport company, which has never been achieved before. Our proposed research model seeks to determine how CSR and a sustainable orientation influence academic tourists’ loyalty to the Metro of Porto transport services as well as their link to Service Quality, Perceived Value, Corporate Image and Tourist Satisfaction. From a sample of 256 academic tourists, customers of the Metro of Porto, a quantitative analysis was carried out using the structural equation model (SEM-PLS). The results obtained allow us to conclude that CSR and Service Quality have an impact on academic tourists’ satisfaction and loyalty to the Metro of Porto. The development of a region is intrinsically linked to transport networks that promote the integration and growth of productive systems. Our results demonstrate the relationship between regional development and business sustainability strategies that integrate Social Responsibility practices. We show the importance that Social Responsibility policies have for companies as a precursor to customer satisfaction and loyalty to a company. Hence, as a guarantee of obtaining economic results, firms must simultaneously contribute to the sustainable development of territories.
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The triple bottom line of sustainability has been the foundation to assess the overall performance of organizations in the hospitality sector. Family businesses are operating in a very competitive environment, and their practices are heavily scrutinised by stakeholders. This paper considers the value of action research in the field of family businesses in the hospitality sector through the prism of organizational learning. The focus of the research is to understand how a Scottish family business learns and implements corporate social responsibility and sustainability practices and how they embed the practices in their activities in a bed and breakfast. The family business used in this research is based in Paisley, Scotland. The use of action research enabled this research to follow a recurring spiral learning process of diagnosing, planning, acting, and evaluating to achieve organizational learning. The action learning contributed to re-thinking the communication between actors involved in the Scottish hospitality sector and family businesses to open a dialogue and produce norms and to contribute to knowledge about a new small-business social responsibility orbital framework.
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This paper aims to present an extensive content analysis of two major constructs directly related to tourist behaviours (i.e. involvement and emotions), because there are still some critical gaps in the knowledge about tourists' emotions and involvement. An in-depth content analysis of involvement and emotions was adopted as a methodological approach. To address the content analysis, a set of papers published in renowned scientific databases, such as Science Direct, Web of Science, Scopus, Emerald, Taylor and Francis, Elsevier, Sage and Wiley were selected and analysed. The major findings state that emotions and involvement demonstrate greater progress and scientific development to the level of tourism, marketing and consumer behaviour, representing an important issue for the integrated tourism experiences. Future studies should analyse and evaluate the role and impact of emotions and involvement in post-pandemic contexts. Hence, there is a growing potential for managers and stakeholders to achieve the benefits derived from the study outcomes
Purpose – Grounded in stewardship theory, this study explores the motives, actions and meanings of multiple stakeholders involved in an inter-family hospitality family firm succession. Design/methodology/approach – A longitudinal, ethnographic case study approach collects data from 15 in-depth interviews, one year of observation and a one-month on-site internship. Findings – Results show that a well-defined succession plan and the active involvement of the successor/s in the succession process would foster a strong stewardship commitment to the family business. Moreover, a clear and open communication strategy is required to strategically manage rivalry and competition among potential successors during an inter-family succession. Originality/value – The succession process of family firms remains an intensely discussed phenomenon, and despite its importance to the tourism and hospitality industry, the intersection between tourism and hospitality and family business literature is sparse. Notably, the tourism and hospitality literature lacks a multiple stakeholder perspective to holistically capture the motives, actions and meanings of numerous stakeholders involved in an inter-family succession.
Efficient transferring information and knowledge play a fundamental strategic role in a tourism system. This is especially important in critical times where efficient collaboration practices and a fluid flow of ideas is essential for the performance and the growth of the entire tourism industry. Here we use the methods of network science for increasing our awareness of the different collaborative structures and the potential information and knowledge flows across them. Intermediaries play a fundamental strategic role for the whole tourism domain and the good functioning this system is crucial for the social and economic development of tourism activities. The paper builds on previous research on the subject and takes as unit of analysis the Italian travel agencies and tour operators. Numerical simulations allow to build scenarios that improve the understanding of the Italian tourism intermediaries knowledge network and can be used to devise policies that tend to a more efficient and innovative functioning of the sector. The findings show how even limited structural changes in the system sensibly improve its efficiency and the capability to exchange information and knowledge.
Purpose This paper aims to present a content analysis of two major constructs among tourism settings, namely involvement and emotions, strictly related to tourist behaviour, due to the fact that there are still some critical gaps in the knowledge about tourists' emotions and involvement. Design/methodology/approach An in-depth content analysis of involvement and emotions was adopted as the methodological approach. This methodology addressed an amalgam of different definitions, frameworks, mixed theoretical and practical applications and approaches, results, comparisons as well as a blend of a set of scales of involvement and emotions by confrontating of authors. Findings The major findings state that emotions and involvement demonstrate greater progress and scientific development to the level of tourism, marketing and consumer behaviour, representing an important issue for the integrated tourism experiences. Originality/value This study presents a critical reflection on the importance of emotions and involvement in specific contexts of leisure and tourism.