CONTROL MECHANISMS AND STRATEGIC FLEXIBILITY OF FAMILY FIRMS

ABSTRACT The study aims to evaluate the influence of the culture of family’s commitment on strategic flexibility and the mediating effects of control mechanisms from the perspectives of agency and stewardship theories in Brazilian family firms. For data analysis, it was performed Structural Equation Modeling (MEE-SmartPLS). The study’s results show that the relationship between the family commitment culture and strategic flexibility is not direct, but mediated by stewardship control mechanisms. However, agency mechanisms do not mediate the relationship between family’s commitment culture and strategic flexibility. The study advances the discussions about the coexistence of control mechanisms in family firms, contributes by evaluating mechanisms that precede strategic flexibility, in addition to investigating strategic flexibility in a pandemic context. Furthermore, it provides insights for companies to reflect on the most appropriate use of mechanisms that encourage strategic flexibility.摘要 本研究以巴西家族企业为研究对象，旨在从委托代理理论（agency theory）与管家理论（stewardship theory）的视角，评估家族承诺文化对战略灵活性的影响，以及控制机制所发挥的中介效应。数据分析采用结构方程模型（Structural Equation Modeling，MEE-SmartPLS）。研究结果显示，家族承诺文化与战略灵活性之间的关系并非直接关联，而是通过管家型控制机制发挥中介作用；然而，委托代理机制并未在二者的关系中起到中介作用。本研究推进了关于家族企业中多种控制机制共存的相关讨论，通过评估战略灵活性的前置机制丰富了该领域研究，同时在疫情背景下开展了战略灵活性相关调研。此外，本研究可为企业反思如何恰当运用有助于提升战略灵活性的相关机制提供参考思路。