For Better or for Worse: The Influence of Non-Family Blockholders and Directors on Strategic Change
Bibliographic record
Abstract
Drawing on the impact of a major economy-wide shock we investigate the influence of non-family blockholders and non-family directors on strategic change in family firms. To date, research has focused primarily on strategic change in family firms during stable economic conditions or when it has been induced by firm-specific or industry- specific factors. Using a sample of 203 French listed firms caught up in the 2008 – 2009 financial crisis, we found that (1) non-family blockholders’ relative voting power and (2) non-family directors’ board representation positively affect strategic change in family firm’s response to crisis. This study contributes to the literature by attending to strategic change in non-munificent environments post- shock; it adds to work on multiple blockholder structures in family firms by highlighting how differential voting rights facilitates strategic change; and finally, it extends research on the role of non-family directors by examining their effects in disruptive contexts of economy wide-shocks.
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.001 | 0.006 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.000 | 0.000 |
| Science and technology studies | 0.001 | 0.001 |
| Scholarly communication | 0.001 | 0.001 |
| Open science | 0.000 | 0.001 |
| Research integrity | 0.000 | 0.000 |
| Insufficient payload (model declined to judge) | 0.003 | 0.000 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".