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Sebastian Sigg
Title
M.Sc.
Last Name
Sigg
First name
Sebastian
Email
sebastian.sigg@unisg.ch
Phone
+41 71 224 71 06
Now showing
1 - 7 of 7
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PublicationDo Owners Care About Stakeholders? Owner Identities and Stakeholder Orientation( 2024)This study investigates owner identity as important determinant of stakeholder orientation. We develop hypotheses based on the owners` relationship with the firm and their access to infor-mation. Examining individual owners, including families, founders, and lone entrepreneurs, alongside institutional investors categorized based on their investment time horizon, we identify distinct degrees of stakeholder orientation. Institutional investors demonstrate a heightened stakeholder orientation, driven by their responsiveness to external demands for transparency. In contrast, individual owners, who benefit from private information and maintain informal stake-holder ties, exhibit a lower level of stakeholder orientation. Empirical testing validates these find-ings and reveals nuanced variations in stakeholder orientation within specific owner sub-classes, such as high turnover and low turnover institutional investors, as well as distinctions between families and other individual owners. This research contributes to the existing literature on stake-holder orientation, advances the new stakeholder theory, and expands upon the literature on owner heterogeneity.Type: conference paper
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PublicationOwner duality – when the main owner also is the board chair( 2024-01-23)We study ‘owner duality’, hence when an individual is the largest owner of a firm and simultaneously serves as the firm’s board chair. To explore the firm growth implications of owner duality, we analyze a sample of publicly listed U.S. firms under control of individual owners. Upon dissecting owner duality into its two constituent elements, namely ownership concentration and board chair position, we find that ownership concentration in the hands of individuals by itself promotes firm growth. However, when ownership concentration is combined with the board chair position, firm growth suffers. Examining the causal mechanism underlying this negative effect, we find that owner duality engenders controversies with non-shareholding stakeholders, which harms growth. We find that executive ownership is effective while board independence is ineffective in curbing the growth penalty tied to owner duality. Our study introduces the concept of owner duality to the literature and adds to the new stakeholder theory of the firm.Type: conference paper
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PublicationWhen the Main Owner is the Board Chair: Too Much of a Good Thing for Stakeholders and Firm Growth( 2024)We study ‘owner duality’, hence when an individual is the largest owner of a firm and simultaneously serves as the firm’s board chair. To explore the firm growth implications of owner duality, we analyze a sample of publicly listed U.S. firms under control of individual owners. Upon dissecting owner duality into its two constituent elements, namely ownership concentration and board chair position, we find that ownership concentration in the hands of individuals by itself promotes firm growth. However, when ownership concentration is combined with the board chair position, firm growth suffers. Examining the causal mechanism underlying this negative effect, we find that owner duality engenders controversies with non-shareholding stakeholders, which harms their commitment to the firm and undermines growth. We find that executive ownership is effective while board independence is ineffective in curbing the growth penalty tied to owner duality. Our study introduces the concept of owner duality to the literature and adds to the new stakeholder theory of the firm.Type: conference paper
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PublicationOwners as Strategists: Mapping the current state and future directions( 2023-10-22)This bibliometric study aims to investigate the intellectual structure and future directions of the field of strategic ownership by analyzing 3,862 articles published in A journals. Co-citation analysis was employed to identify the field's most influential works and themes. The results reveal that strategic ownership has been primarily dominated by research on agency theory, corporate governance mechanisms, investor protection, and large shareholders. Furthermore, bibliometric coupling was used to identify potential research frontiers and future directions in the field. The findings suggest that future research should focus on rapidly growing areas such as family-, state-and institutional ownership research, control mechanisms, emerging regulatory contexts, and CSR perspectives. The study provides insights into the current state and future directions of research in strategic ownership and may inform future research agendas in the field.Type: conference paper
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PublicationKMU und Familienunternehmen in Forschung, Lehre und Praxis – Jahresberichte KMU-HSG und CFB-HSG 2021(KMU-HSG – Schweizerisches Institut für KMU und Unternehmertum an der Universität St.Gallen, 2021-02)Type: journal issue (edt.)Volume: 1
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PublicationKMU und Familienunternehmen in Forschung, Lehre und Praxis – Jahresberichte KMU-HSG und CFB-HSG 2023(KMU-HSG – Schweizerisches Institut für KMU und Unternehmertum an der Universität St.Gallen, 2024-03)
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PublicationKMU und Familienunternehmen in Forschung, Lehre und Praxis – Jahresberichte KMU-HSG und CFB-HSG 2022(KMU-HSG – Schweizerisches Institut für KMU und Unternehmertum an der Universität St.Gallen, 2023-03)