Pascual Berrone, Cristina Cruz, Luis R. Gómez‐Mejía
This article makes the case for the socioemotional wealth (SEW) approach as the potential dominant paradigm in the family business field. The authors argue that SEW is the most important differentiator of the family firm as a unique entity and, as such, helps explain why family firms behave distinctively. In doing so, the authors review the concept of SEW, its different dimensions, and it...... hiện toàn bộ
The Resource-Based View (RBV) of competitive advantage provides a theoretical framework from the field of strategic management for assessing the competitive advantages of family firms. The RBV isolates idiosyncratic resources that are complex, intangible, and dynamic within a particular firm. The bundle of resources that are distinctive to a firm as a result of family involvement are iden...... hiện toàn bộ
Based on a review of 217 refereed articles on family business studies, the literature is organized according to its focus on individual, interpersonal or group, organizational, and societal levels of analyses. An assessment of the status of our current understanding at each level is provided and directions for future research are suggested. A discussion of definitional issues, bases of di...... hiện toàn bộ
Although family-owned and managed firms are the predominant form of business organization in the world today, little systematic research exists on these companies. This paper builds upon insights found in the emerging literature on these enterprises and upon our own observations to provide a conceptual framework to better understand these complex organizations. We introduce the concept of...... hiện toàn bộ
Lucia Naldi, Mattias Nordqvist, Karin Sjöberg, Johan Wiklund
This article focuses on risk taking as one important dimension of entrepreneurial orientation and its impact in family firms. Drawing on a sample of Swedish SMEs, we find that risk taking is a distinct dimension of entrepreneurial orientation in family firms and that it is positively associated with proactiveness and innovation. We also find that even if family firms do take risks while e...... hiện toàn bộ
After decades of being viewed as obsolete and problem ridden, recent research has begun to show that major, publicly traded family-controlled businesses (FCBs) actually out-perform other types of businesses. This article examines the nature of such family businesses in an attempt to explain why some seem to do so well and others so poorly. It begins with four fundamental governance choice...... hiện toàn bộ
This article reviews the literature on family business from a strategic management perspective. In general, this literature is dominated by descriptive articles that typically focus on family relationships. However, the literature does not usually address how these relationships affect the performance of a family business. Taking a strategic management perspective, we outline a new set of...... hiện toàn bộ
Joseph H. Astrachan, Sabine B. Klein, Kosmas X. Smyrnios
This article proposes an alternative method for assessing the extent of family influence on any enterprise, enabling the measurement of the impact of family on outcomes such as success, failure, strategy, and operations. This proposed method, utilizing a standardized and valid instrument— the F-PEC—enables the assessment of family influence on a continuous scale rather than restrict its u...... hiện toàn bộ
In 1995, we were commissioned to conduct research on the impact of family businesses on the U.S. economy. A search of all relevant research led to the conclusion that the majority of existing data relating to family businesses’ economic contributions were not grounded in empirical research, and the definitions used to distinguish family businesses from other enterprises were ambiguous or ...... hiện toàn bộ
The purpose of this article is to provide an explanation for the contradictory evidence in the literature regarding the performance of family-owned firms. The article suggests that most of the research fails to clearly describe the “family effect” on organizational performance. The “family effect,” based on agency theory and the resource-based view of the firm, is described and propositio...... hiện toàn bộ