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Crisis challenges of small firms in Macao during the COVID-19 pandemic

Frontiers of Business Research in China 2020年第4期14卷 403-425页

作者： Jose CAlves Tan Cheng Lok Yubo Luo and Wei Hao City University of Macao 4th FloorLuso-Chinese BuildingAvenida Padre Tomas PereiraMacaoChina

This research develops a framework that combines crisis stages,stakeholder engagement and crisis *** framework is applied to small firms in Macao during the 2019 novel coronavirus disease(COVID-19)pandemic *** conduct a qualitative study based on semi-structured interviews with the leaders of six small firms in *** findings suggest that the COVID-19 pandemic has turned into a"normal"context,which blurs the traditional crisis termination *** also find that participating firms engage more with internal stakeholders than external *** strategies adopted by small firms include flexible human resource(HR)practices,cost reduction,enhancing customer relations,and using government support *** strategies are effective in the short term;firms need to pay attention to diversity and learning for the long term.

关键词： Crisis development Crisis strategies small firms 2019 novel coronavirus disease(COVID-19) Macao

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Do small Family firms Outperform Non-family firms？ A Research Agenda Based on Agency and Stewardship Theories＊

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Journal of Modern Accounting and Auditing 2013年第10期9卷 1354-1365页

作者： Marquinha Teixeira de Carvalho Zinga Mario Augusto Maria Elisabete Ramos University ofCoimbra Coimbra Portugal

The aim of this study is to examine the effects of family involvement and altruism on agency costs of equity and debt, as well on the performance of small family businesses. To achieve this objective, the authors reviewed the literature on family business. Drawing from agency theory and stewardship theory, the authors also proposed a research model that highlights the links among the variables. In so doing, this paper makes some contributions to the literature in three ways. Firstly, it takes an integrative framework that may help to explain behaviors oriented towards maximizing potential performance within a context in which pro-organizational attitudes co-exist with self-serving motivations. Secondly, it advances the understanding of corporate governance mechanisms in small family businesses, and finally, it deepens the discussion of prior research by advancing a set of propositions based on two theoretical approaches. Thus, the authors believe that a systematic comparison of different contexts provides new insights into small family business governance. The implications and directions for future research are in the last section.

关键词： agency problems family involvement altruism small firms performance

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