Inside the Family Firm: The Role of Families in Succession Decisions and Performance

The purpose of this chapter is to outline the phenomenon of low performance often seen in the training of charismatic children. In particular, charisma is considered to be the ability of the child to achieve a particularly high performance in one or more areas and is usually perceived as an asynchronous development between his cognitive, emotional and biological development. "Under-performance" means a student's low performance, which runs counter to his / her mental potential and the potential that this entails. In fact, it is a mismatch between possibilities and performance and refers to the pupil's image, which while having the potential, but the results of his effort are not the expected ones. The causes are attributed to the different way of learning adopted by charismatic children, to their desire to be accepted by their peers, while the family environment also plays an important role. For this reason, the role of the educator, who must be aware of the importance of timely intervention and of using the appropriate educational methods for the integration of the child into the group, is important.

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Communicating the family firm brand: Antecedents and performance effects

European Management Journal ◽

10.1016/j.emj.2019.04.008 ◽

2020 ◽

Vol 38 (1) ◽

pp. 95-107

Author(s):

Susanne Beck ◽

Reinhard Prügl ◽

Katharina Walter

Keyword(s):

Family Firm ◽

The Family ◽

Performance Effects ◽

And Performance

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The advisory role of non-family board members: a case-based study of a family firm

Journal of Management & Governance ◽

10.1007/s10997-019-09496-8 ◽

2019 ◽

Vol 24 (4) ◽

pp. 871-903 ◽

Cited By ~ 1

Author(s):

Hanna Maria Sievinen ◽

Tuuli Ikäheimonen ◽

Timo Pihkala

Keyword(s):

Nordic Country ◽

Family Firm ◽

Board Members ◽

Strategic Renewal ◽

Board Processes ◽

The Family ◽

Firm Owners ◽

Case Based ◽

Advisory Role

AbstractThe objective of this case-based study is to provide insights into the advisory role of non-family board members in a family firm attempting strategic renewal. By studying the non-family board members of a family firm in a Nordic country, we suggest that non-family board members’ advisory role evolves in a dynamic way. We show at the micro-level how the role, content, intensity, and locus of advice change and how it can be both inertia- and stress-inducing. This facilitates the renewal and hence a firm’s capacity to improve its alignment with changing external demands. We highlight the collaborative nature of the advisory role and the importance of the non-family member chair in ensuring effective board processes. Through our research we contribute to the understanding on the contextual nature of the board roles and tasks and on family firm renewals. We provide insights into how the family firm owners and the chair of the board can enhance the prospects that the non-family board members create value through their advisory role.

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Family business governance: what’s wrong? What’s right? What’s next?

Emerald Emerging Markets Case Studies ◽

10.1108/eemcs-02-2018-0011 ◽

2019 ◽

Vol 9 (1) ◽

pp. 1-23

Author(s):

Irfan Saleem ◽

Faiza Khalid ◽

Muhammad Nadeem

Keyword(s):

Family Business ◽

Generation X ◽

Family Firm ◽

Board Structure ◽

Content Type ◽

Academic Level ◽

The Family ◽

Governance Practices

Learning outcomes This case study can help the reader to understand how to build an effective board for family business, and why evolving board structure can help family firm to sustain for a longer period in Market. Reader can also learn about role of independent director, CEO's Succession process and ways to deal with duality issue that family owned enterprise may face during a transition from generation X to Y. Case overview/synopsis This teaching case study describes various decision-making situations using example of a Pakistani family firm and entrepreneurs who started the business few decades back in France. This partially disguised case is based on actual events. The data are collected based on discussions with family business owners and minutes of meetings. The objective of study is to make sense of the family business theories e.g. socio emotional wealth stakeholder and agency. Case readers can also learn about the family’s business governance practices using diverse scenarios presented in this case. Complexity academic level This study is suitable for graduate and undergraduate studies. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email [email protected] to request teaching notes. Subject code CSS 7: Management science.

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The auditor as consigliere in family firm

Journal of Family Business Management ◽

10.1108/jfbm-08-2016-0019 ◽

2017 ◽

Vol 7 (1) ◽

pp. 2-20 ◽

Cited By ~ 5

Author(s):

Sven-Olof Yrjö Collin ◽

Jenny Ahlberg ◽

Karin Berg ◽

Pernilla Broberg ◽

Amelie Karlsson

Keyword(s):

Design Methodology ◽

Family Firms ◽

Response Rate ◽

Family Firm ◽

Social Implications ◽

Content Type ◽

The Family ◽

Professional Independence ◽

Practical Implications

Purpose The purpose of this paper is to develop and test a concept of auditor as consigliere in family firms, that captures additional functions to monitoring, those of advice, mediating, and conveying. Design/methodology/approach The concept is tested through a survey conducted on 309 Swedish auditors. Findings The data indicate that the consigliere role is generally not emphasized, indicating that auditors primarily perform the monitoring role of the audit. However, the authors do find indications of the auditor performing the consigliere role, through performing the advisory and mediating functions and, to a smaller degree, the conveying function. Research limitations/implications The survey is limited in response rate and in separating governance situations from consigliere functions. Practical implications With reservation for professional independence, the auditor as consigliere could be part of the governance of the family firm, but should be trained for this activity. Social implications Regulators should pay attention to the consigliere role when, for example, stipulating compulsory rotation of auditors. Originality/value The paper shows that the auditor is more than a monitor in family firms. The consigliere role, even if not at all dominating, has to be considered, at least in family firms.

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Socioemotional Wealth Across the Family Firm Life Cycle: A Commentary on “Family Business Survival and the Role of Boards”

Entrepreneurship Theory and Practice ◽

10.1111/etap.12072 ◽

2013 ◽

Vol 37 (6) ◽

pp. 1391-1397 ◽

Cited By ~ 96

Author(s):

Isabelle Le Breton-Miller ◽

Danny Miller

Keyword(s):

Life Cycle ◽

Family Business ◽

Family Firm ◽

Socioemotional Wealth ◽

Business Survival ◽

Firm Life Cycle ◽

The Family ◽

Family Business Survival

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The influence of family firm image on access to financial resources in family SMEs: a signaling theory perspective

Review of Managerial Science ◽

10.1007/s11846-021-00516-2 ◽

2022 ◽

Author(s):

Unai Arzubiaga ◽

Alfredo De Massis ◽

Amaia Maseda ◽

Txomin Iturralde

Keyword(s):

Family Business ◽

Family Firm ◽

Financial Resources ◽

Short Term ◽

Projected Image ◽

The Family ◽

Image Access ◽

Family Smes ◽

Strategic Options

AbstractThis study investigates whether a projected family firm image can affect access to financial resources, which is key to providing broader strategic options and meeting short-term financial needs, especially for small and medium-sized enterprises (SMEs). Building on the signaling literature, we consider the family SME leaders’ perspective and conceptually and empirically examine whether they believe a projected family firm image acts as a credible signal to the lender. We also examine additional boundary conditions influencing the family SME’s projected image–access to financial resources relationship, by specifically investigating whether firm age and size alter the degree of the signaling effect. Our unique data on 289 Spanish family SMEs reveal that projected family firm image can act as an attractive signal to lenders, leading to better access to financial resources for SMEs. Furthermore, firm size reinforces the role of the projected family firm image as a positive signal. These findings address an important practical issue in terms of family firm stakeholder perceptions, offering contributions to the corporate branding, family business, and financing literature.

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