Family Firm Research Papers - Academia.edu (original) (raw)

The main goal of our research was to examine the importance of transferring tacit and experiential knowledge as well as social capital of founders for innovativeness of the next family generation, i.e. successors in smaller family firms. Data were collected through in-depth case studies, including face-to-face structured interviews with 20 founders of smaller family firms and their successors. The research was carried out in Slovenia, which in our opinion still belongs to transition economies. Namely, transition from an economic-developmental aspect means transition from routine to innovative economy and society, which Slovenia has not achieved yet. Therefore, we find the innovativeness of next family generation owners and/or managers as crucial for transition of Slovenia to innovative economy and society. We assume that findings of our research may also have implications for other transition economies.

- by and +1
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- Business, Tacit Knowledge, Family Business, Social Capital
- by Marguerite Dupree
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- Business Strategy, Family Firm, Financial Performance
- by Francisco Perez
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- Economics, Decision Making, Governance, Firm Performance
- by William Schulze
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- Marketing, Business and Management, Family Firm, Development theory
- by Nancy Elman
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- Family Business, Business and Management, Family Firm
- by Kimberly Eddleston
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- Marketing, Family Business, Leadership, Business and Management

It has been argued that the contribution of family businesses to national economies is considerable on a world-wide basis. The estimates of the contribution of family businesses to total production and employment vary internationally between 35 and 60 per cent (Astrachan & Shanker, 2003; IFERA, 2003). The variation depends on the country, indicator, calculation method and the definition of what

- by Seppo Laaksonen
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- Family Business, Firm Performance, Industry Structure, Profitability
- by Albert Cannella
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- Family Business, Corporate Finance, Firm Performance, Family Firm
- by Wilson Ng
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- Sociology, Psychology, Decision Making, Corporate Governance
- by Howard Stanger
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- Marketing, Family Business, Business History, Direct Marketing
- by Ian C. MacMillan
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- Marketing, Family Business, Firm Performance, Business and Management
- by Joe T Felan
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- Marketing, Small Business, Small Business Management, Business and Management
- by Jose Moyano-Fuentes
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- Marketing, Olive Oil, Risk Aversion, Business and Management
- by Mattias Nordqvist
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- Family Business, Literature Review, Family Firm
- by Wilson Ng
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- Marketing, Organizational Change, Small Business, Business and Management
- by Erkko Autio
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- Social Theory, Decision Making, Family Business, Corporate Governance
- by Lori Muse
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- Family Business, Business and Management, Regression Analysis, Family Firm

Through the lens of stakeholder theory, this article deepens our understanding of financial and nonfinancial performance outcomes in family firms across multiple stakeholder categories, including the family level of analysis. Based on this foundation, we develop a typology of performance relationships between performance outcomes: overlapping, causal, synergistic, and substitutional. We argue that these relationships, when used between constructive (positive) performance outcomes, are able to increase stakeholder satisfaction, which in turn increases organizational effectiveness. Through this analysis, we extend the common one-dimensional and cause-effect understanding of performance in family firms and move toward a comprehensive stakeholder performance perspective, which provides insights for increasing organizational effectiveness of family firms.

- by Kimberly Eddleston
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- Business, Multidisciplinary, Family Firm

Abstract We adopt a generational perspective to investigate entrepreneurial orientation (EO) in family firms. We test a model that determines how the influence on EO of external factors and internal factors differs in first-, second-and... more

- by Mattias Nordqvist
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- Economics, Family Business, Entrepreneurial Orientation, Family Firm
- by Michael A . Hitt and +1
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- Management, Marketing, Social Capital, Business and Management
- by sanja pfeifer
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- Family Business, Financial management, Strategic Planning, United States
- by Jalilur-Rahman Baloch
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- Family Business, Strategic Management, Business and Management, Family Firm
- by James Chrisman
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- Marketing, Practice theory, Business and Management, Family Firm
- by James Chrisman
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- Marketing, Practice theory, Family Business, Stakeholder Theory
- by Mattias Nordqvist and +2
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- Business Administration, Family Business, Entrepreneurial Orientation, Risk Taking

Despite considerable progress made using systems and configurative approaches in family business research, current knowledge remains limited on how different combinations of organizational attributes determine relevant outcomes and, therefore, how family affects businesses. To address this question, we focus on the overlap between family and business at management and governance levels. We posit that family- and business-oriented decisions emerge in four areas: board of directors, succession, human resources, and strategic process. This argument allows us to conceive three ideal types of family firms that yield maximum family firm performance, by considering the way that family firms adjust their orientations in their decisions. Building on a sample of 732 privately owned Spanish family firms, we propose the following main hypothesis: the greater the similarity of a family firm to an ideal profile, the better its performance. Our main results show that family firms can achieve successful business results by using a combination of family and business orientations in their decision making.► Research questions: How are family businesses managed and governed from the standpoint of the family-business relationship? And, how do different combinations of management and governance affect family firm performance? ► Our typological model of family business is inspired by essence perspective which asserts that the family's influence on the firm creates certain specific ways of acting. ► We used an empirical method to analyze the proposed typological model. ► We found that business performance can be achieved by different ways, i.e. different horizontal fits.

- by Rodrigo Basco
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- Family Business, Human Resources, Firm Performance, Succession
- by Alan Carsrud
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- Marketing, Business and Management, Family Firm
- by Jenifer Piesse
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- Corporate Governance, Saudi Arabia, Middle East, Institutional Investors
- by Joseph Astrachan
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- Firm Performance, Literature Review, Family Firm
- by Eva Schmitt-Rodermund
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- Family Business, Social Influence, Business and Management, Family Firm
- by Jess Chua
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- Marketing, Business and Management, Family Firm, Entrepreneurship Theory
- by Kimberly Eddleston
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- Economics, Small Business, Firm Performance, Family Firm
- by Kimberly Eddleston
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- Marketing, Practice theory, Family Business, Agency Theory
- by sanja pfeifer
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- Family Business, Statistical Analysis, Family Firm, Life Cycle

This commentary discusses how, by substituting value creation for wealth creation as the defining function of family businesses, we can further extend and integrate the theoretical contributions of Habbershon et al. [J. Bus. Venturing... more

- by James Chrisman
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- Marketing, Family Business, Firm Performance, Business and Management
- by Andre Pereira
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- Family Business, Economic Development, Qualitative data analysis, Rio Grande do Sul
- by mervi niskanen
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- Family Business, Business and Management, Family Firm, Audit Quality
- by Rachida Justo
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- Firm Performance, Profitability, Family Firm, Household Income
- by Salvatore Sciascia
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- Family Business, Intellectual Capital, Business and Management, Family Firm
- by Rodrigo Basco
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- Family Business, Literature Review, Family Firm, Family Business Field

PurposeThe purpose of this paper is to investigate, in a multi‐country context, the inclusion of family‐member managers and non‐family‐member managers in family businesses, and the relationship of this variable to certain management activities, styles and characteristics.Design/methodology/approachThis four‐country study involved survey research and correlational testing of nine hypotheses. The four countries, Croatia, France, India and the USA, provided a mixture of entrepreneurial contexts. Given limited prior research in this area, this study is exploratory and broadly focused.FindingsThere was limited support for the relationship between the percentage of non‐family‐member managers and the nine management activities, styles and characteristics studied, both between and within countries. The strongest support was for the positive relationship between the percentage of non‐family managers and the use of sophisticated financial management methods.Research limitations/implicationsIn...

- by Robert N Lussier
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- Business, Marketing, Family Business, Financial management
- by Gibb Dyer
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- Marketing, Research Design, Business and Management, Business Strategy

The board of directors is regarded as one of the most imperative governance mechanisms in small and medium-sized family firms. Empirical studies examining both the roles these boards fulfil in a family business context, as well as evaluating the CEO’s perceived importance of these roles, are scarce. Founded by a range of conceptual and multi-theoretical board role definitions, this paper contributes to the literature by empirically determining board roles. Furthermore, the importance of these board roles and differences between the board’s performance and perceived importance are assessed. The results show it is indispensable to differentiate between two aggregated roles that boards in small and medium-sized family firms perform: control and service. The control role is predominantly based on agency theory, whereas the service role includes multiple theoretical perspectives. The CEOs of the family firms perceive the service role of the board as most important. However, in order to direct succession and to compensate for the owner/manager’s altruistic behaviour, the board’s control role should not be neglected. The acknowledgement of these two aggregated board roles and their importance may enhance future research on board roles within specific contexts.

- by Anita Van Gils
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- Family Business, Corporate Governance, Governance, Agency Theory