Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model

Francesco Agliata; Danilo Tuccillo; Andrea Rey; Fabiana Roberto

doi:doi:10.11648/j.jhrm.20190704.15

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Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model

Francesco Agliata, Danilo Tuccillo, Andrea Rey, Fabiana Roberto

Published in Journal of Human Resource Management (Volume 7, Issue 4)

Received: 25 October 2019 Accepted: 18 November 2019 Published: 22 November 2019

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Abstract

The purpose of this paper is to define a new combined model of business valuation for family firm, considering the implications of IC. The role of the family component in business valuation is condensed into the continuity of a trans-generational perspective. The question appears to be centred on the consistency of the familiness link with respect to the economic entity. In other words, it becomes essential to understand the provisional character of the proactive action of family members on business performance levels. After having discussed some of critical theoretical opinions on the peculiar aspects of family business—with particular attention to the relationship between the contribution of cognitive resources inferable from the familiness in the company management and the propensity to create value by the company itself—the aim is to find the most appropriate method to enhance the specificity of the family business and express the size of the equity value in a neutral and objective manner. The methodology is deductive; the integrated model is structured starting from the general framework of business valuation and then proceeds with its adaptation to familiness, intended as a particular attestation of IC. In this way, a new integrated model is made available for a subsequent step of empirical implementation and validation through its application in a family organization. The main advantage of this model is the ability to measure and manage IC and financial/non-financial performance. The added value of this work will enrich the academic literature regarding IC measurement systems in family firms; it also provides an original integrated model that is able to exhibit the advantages highlighted above.

Published in	Journal of Human Resource Management (Volume 7, Issue 4)
DOI	10.11648/j.jhrm.20190704.15
Page(s)	108-119
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2019. Published by Science Publishing Group

Keywords

Familiness, Intellectual Capital, Performance Measurement System, Financial Statements, Family Firm

References

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Francesco Agliata, Danilo Tuccillo, Andrea Rey, Fabiana Roberto. (2019). Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model. Journal of Human Resource Management, 7(4), 108-119. https://doi.org/10.11648/j.jhrm.20190704.15

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Francesco Agliata; Danilo Tuccillo; Andrea Rey; Fabiana Roberto. Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model. J. Hum. Resour. Manag. 2019, 7(4), 108-119. doi: 10.11648/j.jhrm.20190704.15

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AMA Style

Francesco Agliata, Danilo Tuccillo, Andrea Rey, Fabiana Roberto. Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model. J Hum Resour Manag. 2019;7(4):108-119. doi: 10.11648/j.jhrm.20190704.15

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@article{10.11648/j.jhrm.20190704.15,
  author = {Francesco Agliata and Danilo Tuccillo and Andrea Rey and Fabiana Roberto},
  title = {Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model},
  journal = {Journal of Human Resource Management},
  volume = {7},
  number = {4},
  pages = {108-119},
  doi = {10.11648/j.jhrm.20190704.15},
  url = {https://doi.org/10.11648/j.jhrm.20190704.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jhrm.20190704.15},
  abstract = {The purpose of this paper is to define a new combined model of business valuation for family firm, considering the implications of IC. The role of the family component in business valuation is condensed into the continuity of a trans-generational perspective. The question appears to be centred on the consistency of the familiness link with respect to the economic entity. In other words, it becomes essential to understand the provisional character of the proactive action of family members on business performance levels. After having discussed some of critical theoretical opinions on the peculiar aspects of family business—with particular attention to the relationship between the contribution of cognitive resources inferable from the familiness in the company management and the propensity to create value by the company itself—the aim is to find the most appropriate method to enhance the specificity of the family business and express the size of the equity value in a neutral and objective manner. The methodology is deductive; the integrated model is structured starting from the general framework of business valuation and then proceeds with its adaptation to familiness, intended as a particular attestation of IC. In this way, a new integrated model is made available for a subsequent step of empirical implementation and validation through its application in a family organization. The main advantage of this model is the ability to measure and manage IC and financial/non-financial performance. The added value of this work will enrich the academic literature regarding IC measurement systems in family firms; it also provides an original integrated model that is able to exhibit the advantages highlighted above.},
 year = {2019}
}

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TY  - JOUR
T1  - Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model
AU  - Francesco Agliata
AU  - Danilo Tuccillo
AU  - Andrea Rey
AU  - Fabiana Roberto
Y1  - 2019/11/22
PY  - 2019
N1  - https://doi.org/10.11648/j.jhrm.20190704.15
DO  - 10.11648/j.jhrm.20190704.15
T2  - Journal of Human Resource Management
JF  - Journal of Human Resource Management
JO  - Journal of Human Resource Management
SP  - 108
EP  - 119
PB  - Science Publishing Group
SN  - 2331-0715
UR  - https://doi.org/10.11648/j.jhrm.20190704.15
AB  - The purpose of this paper is to define a new combined model of business valuation for family firm, considering the implications of IC. The role of the family component in business valuation is condensed into the continuity of a trans-generational perspective. The question appears to be centred on the consistency of the familiness link with respect to the economic entity. In other words, it becomes essential to understand the provisional character of the proactive action of family members on business performance levels. After having discussed some of critical theoretical opinions on the peculiar aspects of family business—with particular attention to the relationship between the contribution of cognitive resources inferable from the familiness in the company management and the propensity to create value by the company itself—the aim is to find the most appropriate method to enhance the specificity of the family business and express the size of the equity value in a neutral and objective manner. The methodology is deductive; the integrated model is structured starting from the general framework of business valuation and then proceeds with its adaptation to familiness, intended as a particular attestation of IC. In this way, a new integrated model is made available for a subsequent step of empirical implementation and validation through its application in a family organization. The main advantage of this model is the ability to measure and manage IC and financial/non-financial performance. The added value of this work will enrich the academic literature regarding IC measurement systems in family firms; it also provides an original integrated model that is able to exhibit the advantages highlighted above.
VL  - 7
IS  - 4
ER  -

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Author Information

Francesco Agliata

Department of Economics, University of Campania L. Vanvitelli, Capua (Caserta), Italy
Danilo Tuccillo

Department of Economics, University of Campania L. Vanvitelli, Capua (Caserta), Italy
Andrea Rey

Department of Economics, Management, Institutions, University of Naples Federico II, Naples, Italy
Fabiana Roberto

Department of Economics, Management, Institutions, University of Naples Federico II, Naples, Italy

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APA Style

Francesco Agliata, Danilo Tuccillo, Andrea Rey, Fabiana Roberto. (2019). Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model. Journal of Human Resource Management, 7(4), 108-119. https://doi.org/10.11648/j.jhrm.20190704.15

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ACS Style

Francesco Agliata; Danilo Tuccillo; Andrea Rey; Fabiana Roberto. Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model. J. Hum. Resour. Manag. 2019, 7(4), 108-119. doi: 10.11648/j.jhrm.20190704.15

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AMA Style

Francesco Agliata, Danilo Tuccillo, Andrea Rey, Fabiana Roberto. Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model. J Hum Resour Manag. 2019;7(4):108-119. doi: 10.11648/j.jhrm.20190704.15

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@article{10.11648/j.jhrm.20190704.15,
  author = {Francesco Agliata and Danilo Tuccillo and Andrea Rey and Fabiana Roberto},
  title = {Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model},
  journal = {Journal of Human Resource Management},
  volume = {7},
  number = {4},
  pages = {108-119},
  doi = {10.11648/j.jhrm.20190704.15},
  url = {https://doi.org/10.11648/j.jhrm.20190704.15},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jhrm.20190704.15},
  abstract = {The purpose of this paper is to define a new combined model of business valuation for family firm, considering the implications of IC. The role of the family component in business valuation is condensed into the continuity of a trans-generational perspective. The question appears to be centred on the consistency of the familiness link with respect to the economic entity. In other words, it becomes essential to understand the provisional character of the proactive action of family members on business performance levels. After having discussed some of critical theoretical opinions on the peculiar aspects of family business—with particular attention to the relationship between the contribution of cognitive resources inferable from the familiness in the company management and the propensity to create value by the company itself—the aim is to find the most appropriate method to enhance the specificity of the family business and express the size of the equity value in a neutral and objective manner. The methodology is deductive; the integrated model is structured starting from the general framework of business valuation and then proceeds with its adaptation to familiness, intended as a particular attestation of IC. In this way, a new integrated model is made available for a subsequent step of empirical implementation and validation through its application in a family organization. The main advantage of this model is the ability to measure and manage IC and financial/non-financial performance. The added value of this work will enrich the academic literature regarding IC measurement systems in family firms; it also provides an original integrated model that is able to exhibit the advantages highlighted above.},
 year = {2019}
}

Copy | Download

TY  - JOUR
T1  - Intellectual Capital and Value Creation Process in Family Firm: A New Combined Model
AU  - Francesco Agliata
AU  - Danilo Tuccillo
AU  - Andrea Rey
AU  - Fabiana Roberto
Y1  - 2019/11/22
PY  - 2019
N1  - https://doi.org/10.11648/j.jhrm.20190704.15
DO  - 10.11648/j.jhrm.20190704.15
T2  - Journal of Human Resource Management
JF  - Journal of Human Resource Management
JO  - Journal of Human Resource Management
SP  - 108
EP  - 119
PB  - Science Publishing Group
SN  - 2331-0715
UR  - https://doi.org/10.11648/j.jhrm.20190704.15
AB  - The purpose of this paper is to define a new combined model of business valuation for family firm, considering the implications of IC. The role of the family component in business valuation is condensed into the continuity of a trans-generational perspective. The question appears to be centred on the consistency of the familiness link with respect to the economic entity. In other words, it becomes essential to understand the provisional character of the proactive action of family members on business performance levels. After having discussed some of critical theoretical opinions on the peculiar aspects of family business—with particular attention to the relationship between the contribution of cognitive resources inferable from the familiness in the company management and the propensity to create value by the company itself—the aim is to find the most appropriate method to enhance the specificity of the family business and express the size of the equity value in a neutral and objective manner. The methodology is deductive; the integrated model is structured starting from the general framework of business valuation and then proceeds with its adaptation to familiness, intended as a particular attestation of IC. In this way, a new integrated model is made available for a subsequent step of empirical implementation and validation through its application in a family organization. The main advantage of this model is the ability to measure and manage IC and financial/non-financial performance. The added value of this work will enrich the academic literature regarding IC measurement systems in family firms; it also provides an original integrated model that is able to exhibit the advantages highlighted above.
VL  - 7
IS  - 4
ER  -

Copy | Download