Distinctions among various firm ownership types have gained increasing attention among organizational researchers. The basic premise advanced is that ownership type affects firm processes and outcomes. Extant research, however, has largely addressed the relationship between ownership type and firm performance, with little attention to the means for achieving higher performance. This study investigates the relationships among firms' ownership structure, strategic posture, and firm growth. Strategic posture can provide a firm with a means for attaining a competitive advantage in the marketplace and achieving superior performance. Results indicate that strategic posture does not differ based on the ownership structure of the firm. Additionally, regression analysis demonstrates no effect for ownership structure or strategic posture on firm growth.
Get full access to this article
View all access options for this article.
References
1.
Alpar, P., & Spitzer, D. (1989). Response behavior of entrepreneurs in a mail survey. Entrepreneurship: Theory and Practice, 14, 31–44.
2.
Anderson, C. R., & Zeithaml, C. P. (1984). Stages of the product life cycle, business strategy, and business performance. Academy of Management Journal, 27, 5–24.
3.
Barry, B. (1975). The development of organization structure in the family firm. Journal of General Management, 3, 42–60.
4.
Baysinger, B. D., Meiners, R. E., & Zeithaml, C. P. (1981). Barriers to corporate growth. Lexington, MA: Lexington.
5.
Baysinger, B. D., & Zardkoohi, A. (1986). Technology, residual claimants, and corporate control. Journal of Law, Economics, and Organization, 2, 339–349.
6.
Beckhard, R., and Dyer, W. G. (1983). Managing continuity in the family-owned business. Organizational Dynamics, 12, 5–12.
7.
Begley, T. M., & Boyd, D. P. (1986). Executive and corporate correlates of financial performance in smaller firms. Journal of Small Business Management, 24(2), 8–15.
8.
Birley, S. (1987). New ventures and employment growth. Journal of Business Venturing, 2, 155–165.
9.
Bourgeois, L. J. (1980). Strategy and environment: A conceptual integration. Academy of Management Review, 5, 25–39.
10.
Capon, N., Farley, J. U., & Hoenig, S. (1990). Determinants of financial performance: A meta-analysis. Management Science, 36, 1143–1159.
11.
Garland, J. W., Hoy, F., Boulton, W. R., & Garland, J. C. (1984). Differentiating entrepreneurs from small business owners: A conceptualization. Academy of Management Review, 9, 354–359.
12.
Chrisman, J. J., Hofer, C. W., & Boulton, W. R. (1988). Toward a system for classifying business strategies. Academy of Management Review, 13, 413–428.
13.
Daily, C. M., & Dalton, D. R. (1992). Financial performance of founder-managed versus professionally managed small corporations. Journal of Small Business Management, 30(2), 25–34.
14.
Daily, C. M., & Dollinger, M. j. (1992). An empirical examination of ownership structure in family and professionally managed firms. Family Business Review, 5, 117–136.
15.
d'Amboise, G., & Muldowney, M. (1988). Management theory for small business: Attempts and requirements. Academy of Management Review, 13, 226–240.
16.
Dess, G. G., & Davis, P. S. (1984). Porter's (1980) generic strategies as determinants of strategic group membership and organizational performance. Academy of Management Journal, 27, 367–388.
17.
Dsouza, D. E. (1990). Strategy types and environmental correlates of strategy for high-growth firms: An exploratory study. Unpublished doctoral dissertation, Georgia State University.
18.
Dyer, W. G. (1986). Cultural change in family firms. San Francisco: Jossey-Bass.
19.
Fahey, L., & Christensen, H. K. (1986). Evaluating the research on strategy content. Journal of Management, 12, 167–183.
20.
Flamholtz, E. G. (1986). How to make the transition from an entrepreneurship to a professionally managed firm. San Francisco: Jossey-Bass.
21.
Galbraith, C., & Schendel, D. (1983). An empirical analysis of strategy types. Strategic Management Journal, 4, 153–173.
22.
Ginsberg, A. (1984). Operationalizing organizational strategy: Towards an integrative framework. Academy of Management Review, 9, 548–557.
23.
Hambrick, D. C. (1980). Operationalizing the concept of businesslevel strategy in research. Academy of Management Review, 5, 567–575.
24.
Hambrick, D. C. (1983). An empirical typology of mature industrial-product environments. Academy of Management Journal, 26, 213–230.
25.
Hambrick, D. C. (1984). Taxonomic approaches to studying strategy: Some conceptual and methodological issues. Journal of Management, 10, 27–41.
26.
Hambrick, D. C., MacMillan, I. C., & Day, D. L. (1982). Strategic attributes and performance in the BCG matrix: A PIMS-based analysis of industrial product businesses. Academy of Management Journal, 25, 510–531.
27.
Flandler, W. C. (1989). Methodological issues and considerations in studying family businesses. Family Business Review, 2, 257–276.
28.
Kirchhoff, B. A., & Kirchhoff, J. J. (1987). Family contributions to productivity and profitability in small businesses. Journal of Small Business Management, 25(4), 25–31.
29.
Krause, D. S. (1988). Corporate control. Journal of Political Economy, 73(2), 110–120.
30.
Lansberg, I. S. (1983). Managing human resources in family firms: The problem of institutional overlap. Organizational Dynamics, 12, 39–46.
31.
Miles, R. E., & Snow, C. C. (1978). Organizational strategy, structure, and process. New York: McGraw-Hill.
32.
Miller, D. (1987). The structural and environmental correlates of business strategy. Strategic Management Journal, 8, 55–76.
33.
Murray, A. I. (1989). Top management group heterogeneity and firm performance. Strategic Management Journal, 10, 125–141.
34.
Porter, M. E. (1980). Competitive strategy: Techniques for analyzing industries and competitors. New York: Free Press.
35.
Rosenblatt, P. C., de Mik, L., Anderson, R. M., & Johnson, P. A. (1985). The family in business: Understanding and dealing with the challenges entrepreneurial families face. San Francisco: Jossey-Bass.
36.
Schein, E. H. (1968). Organizational socialization and the profession of management. Industrial Management Review, 9, 1–15.
37.
Shuman, J. C., Shaw, J. J., & Sussman, G. (1985). Strategic planning in smaller rapid growth companies. Long Range Planning, 18(6), 48–53.
38.
Shumpeter, J. A. (1934). The theory of economic development. Cambridge, MA: Harvard University Press.
39.
Snow, C. C., & Hambrick, D. C. (1980). Measuring organizational strategies: Some theoretical and methodological problems. Academy of Management Review, 5, 527–538.
40.
Ward, J. L. (1987). Keeping the family business healthy: How to plan for continued growth, profitability, and family leadership. San Francisco: Jossey-Bass.
41.
Ward, J. L., & Aronoff, C. E. (1990). To sell or not to sell. Nation's Business, 78(1), 63–64.
42.
White, R. E. (1986). Generic business strategies, organizational context and performance: An empirical investigation. Strategic Management Journal, VII, 217–231.
