The Expectation of Partial Retirement Among Family Business Owners

2003 ◽  
Vol 16 (3) ◽  
pp. 199-210 ◽  
Author(s):  
Haejeong Kim ◽  
Sharon A. DeVaney
Keyword(s):  
Family Business ◽  
Work Force ◽  
Business Owners ◽  
Business Owner ◽  
Survey Of Consumer Finances ◽  
Hours Worked ◽  
Consumer Finances ◽  
Retirement Accounts ◽  
The Family ◽  
Partial Retirement

Decisions that the family business owner makes about retirement and succession are critical and could affect a large proportion of the work force. Compared to employees, family business owners may have more of an opportunity to retire partially, i.e., reduce the number of hours worked. The purpose of this study was to determine the characteristics of family business owners who expect to retire partially. Data on 1,155 family business owners from the 1998 Survey of Consumer Finances reveals that family business owners with more education and more income, who work more hours per week, and who have tax-deferred retirement accounts expect to retire partially. There is a direct correlation between age and those choosing partial retirement, suggesting that many family business owners expect to retire partially. Married family business owners were less likely to expect to retire partially; instead, they would retire fully. The equity in the business, type of ownership, and involvement of other family members did not affect the expectation of partial retirement.

scholarly journals Family across borders social capital and diaspora entrepreneurial preparedness

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eva Karayianni ◽  
Elias Hadjielias ◽  
Loukas Glyptis
Keyword(s):  
Social Capital ◽  
Interpersonal Relationships ◽  
Family Business ◽  
Business Owners ◽  
Social Capital Theory ◽  
Business Owner ◽  
Content Type ◽  
Family Ties ◽  
The Family ◽  
Practical Implications

Purpose The purpose of this paper is to study the way in which family ties influence the entrepreneurial preparedness of the diaspora family business owner. Design/methodology/approach In-depth interviews were carried out with 15 Cypriot family business owners hosted in various countries. The paper draws on social capital theory and uses an abductive analytical approach. Findings The findings of this paper illustrate that family ties coming from the family across borders play a significant role for diaspora family business owners’ entrepreneurial preparedness. Hidden values deriving from the interpersonal relationships within the family across borders drive the diaspora family business owners to learn upon self-reflection and become entrepreneurially prepared, led by both urgency and esteem. Practical implications This study provides practical implications for the entrepreneurial preparedness of diaspora family business owners and those who wish to become family business owners in a diaspora context. Originality/value This study contributes theoretically through the conceptualization of “family across borders social capital” and “diaspora entrepreneurial preparedness”. It also contributes empirically to the fields of diaspora family business, entrepreneurial learning and diaspora entrepreneurship through new knowledge regarding the role of family across borders social capital in the entrepreneurial preparedness of the diaspora family business owner.

“We are a family firm”

2018 ◽  
Vol 8 (1) ◽  
pp. 2-21 ◽  
Author(s):  
Claudia Binz Astrachan ◽  
Isabel C. Botero
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Firm ◽  
Business Owners ◽  
Public Companies ◽  
Content Type ◽  
Brand Building ◽  
Depth Interview ◽  
The Family ◽  
Family Associations

Purpose Evidence suggests that some stakeholders perceive family firms as more trustworthy, responsible, and customer-oriented than public companies. To capitalize on these positive perceptions, owning families can use references about their family nature in their organizational branding and marketing efforts. However, not all family firms actively communicate their family business brand. With this in mind, the purpose of this paper is to investigate why family firms decide to promote their “family business brand” in their communication efforts toward different stakeholders. Design/methodology/approach Data for this study were collected using an in-depth interview approach from 11 Swiss and German family business owners. Interviews were transcribed and coded to identify different themes that help explain the different motives and constraints that drive their decisions to promote the “family business brand.” Findings The analyses indicate that promoting family associations in branding efforts is driven by both identity-related (i.e. pride, identification) and outcome-related (e.g. reputational advantages) motives. However, there are several constraints that may negatively affect the promotion of the family business brand in corporate communication efforts. Originality/value This paper is one of the first to explore why family businesses decide to communicate their “family business brand.” Building on the findings, the authors present a conceptual framework identifying the antecedents and possible consequences of promoting a family firm brand. This framework can help researchers and practitioners better understand how the family business nature of the brand can influence decisions about the company’s branding and marketing practices.

scholarly journals Analisis pendidikan kewirausahaan dalam menanamkan nilai-nilai kewirausahaan untuk re-generasi usaha keripik gadung

2021 ◽  
Vol 1 (8) ◽  
pp. 711-717
Author(s):  
Ginanjar Septiana Supardiansyah ◽  
Rizky Dwi Putri
Keyword(s):  
Sampling Method ◽  
Entrepreneurship Education ◽  
Phenomenological Approach ◽  
Business Owners ◽  
Educational Process ◽  
Business Owner ◽  
Purposive Sampling ◽  
Parents And Children ◽  
The Family ◽  
Selection Of

Abstract Entrepreneurship education can be said as an educational process that can be seen through the way parents educate and instill entrepreneurial values in children. The purpose of this study was to determine (1) entrepreneurial education applied by gadung chip business owners to their children, (2) entrepreneurial values instilled by gadung chips business owners to their children, (3) business regeneration of gadung chips business owners. This study uses qualitative research with a phenomenological approach. The selection of informants used the purposive sampling method by looking at several criteria that were considered in selecting informants, namely the criteria for the first informant were parents who had a gadung chip business that had been passed down for 2 to 3 generations, the criteria for the second informant were teenagers who would continue the business. fake chips. The techniques used in collecting this data are observation techniques, interview techniques, and documentation. To test the validity of the data, the data was checked by triangulation of sources to the informants' children. The results of the study are (1) The entrepreneurial values instilled by the gadung chip business owner are honesty, responsibility, discipline, hard work, courage. (2) Entrepreneurship education for the family of gadung chip owners is carried out by establishing closeness between parents and children, providing positive activities, creating a learning atmosphere, and parenting habits. (3) Entrepreneurship education by instilling entrepreneurial values in children produces results with evidence that children have been involved and helped develop the gadung chip business. Abstrak Pendidikan kewirausahaan dapat dikatakan sebagai suatu proses pendidikan yang dapat dilihat melalui cara orang tua dalam mendidik dan menanamkan nilai-nilai kewirausahaan pada diri anak. Tujuan penelitian ini adalah untuk mengetahui (1) Pendidikan kewirausahaan yang diterapkan oleh pemilik usaha keripik gadung kepada anaknya, (2) Nilai-nilai kewirausahaan yang ditanamkan oleh pemilik usaha keripik gadung kepada anaknya, (3) Regenerasi usaha pemilik usaha keripik gadung. Penelitian ini menggunakan penelitian kualitatif dengan jenis pendekatan fenomenologi. Pemilihan informan menggunakan metode purposive sampling dengan melihat beberapa kriteria yang menjadi pertimbangan dalam memilih informan, yaitu kriteria informan pertama adalah orang tua yang memiliki usaha keripik gadung yang sudah mengalami turun-temurun 2 sampai 3 generasi, kriteria informan kedua adalah anak remaja yang akan melanjutkan usaha keripik gadung. Teknik yang digunakan dalam mengumpulkan data ini adalah teknik observasi, teknik wawancara, dan dokumentasi. Untuk menguji keabsahan data dilakukan pengecekan data dengan triangulasi sumber kepada anak informan. Hasil penelitian adalah (1) Nilai-nilai kewirausahaan yang ditanamkan pemilik usaha keripik gadung yaitu kejujuran, tanggung jawab, disiplin, kerja keras, keberanian. (2) Pendidikan kewirausahaan pada keluarga pemilik keripik gadung dilakukan dengan cara yaitu menjalin kedekatan antara orang tua dan anak, memberikan kesibukan positif, menciptakan suasana belajar, kebiasaan pola asuh orang tua. (3) Pendidikan kewirausahaan dengan menanamkan nilai-nilai kewirausahaan kepada anak membuahkan hasil dengan bukti anak sudah ikut terlibat dan membantu mengembangkan usaha keripik gadung.

Managing non-family talent: Evidence from German-speaking regions

2019 ◽  
Vol 33 (3) ◽  
pp. 249-279 ◽  
Author(s):  
Katharina Harsch ◽  
Marion Festing
Keyword(s):  
Family Business ◽  
Talent Management ◽  
Business Owners ◽  
Management Approach ◽  
Business Culture ◽  
Specific Analysis ◽  
The Family ◽  
German Speaking ◽  
Multiple Levels ◽  
Context Specific

Family businesses dominate the corporate world but there is much we don’t know about them. Managing non-family talent is one under-researched area which we explore here, using a context-specific analysis on multiple levels, including qualitative data from interviews with family business owners and non-family talents in strategic family business positions in Germany, Austria and German-speaking Switzerland. Based on stewardship theory and our empirical results, we suggest a framework that explains the particular facets of talent management in this context, characterised by the emotional attachment of the family and involvement in the business. Our findings show that primarily the values and attitudes of families shape the specific family business talent management approach, which is embedded in the particularities of the family business culture at the meso level and in region-specific macro-level factors.

scholarly journals Investigating value-laden leadership styles among family business owners

2016 ◽  
Vol 47 (4) ◽  
pp. 35-46 ◽  
Author(s):  
E. Venter ◽  
S. M. Farrington
Keyword(s):  
Leadership Styles ◽  
Leadership Style ◽  
Family Business ◽  
Business Performance ◽  
Business Owners ◽  
Primary Objective ◽  
Family Businesses ◽  
Participative Leadership ◽  
Significant Relationships ◽  
The Family

Given the need for a different approach to leadership, as well as the need for further investigation on leadership among family businesses, this study investigates several value-laden leadership styles among family businesses. More specifically the primary objective is to establish the levels of Servant, Ethical, Authentic, and Participative leadership displayed by family business owners and the influence thereof on the Perceived business performance of the family business. A survey was undertaken and 266 usable questionnaires were returned from 133 family business owners and 133 from family business employees. The data analysis involved calculating descriptive statistics and undertaking t-tests. Multiple regression analysis (MRA) was done to test the hypothesised relationships. Although the MRA analysis revealed no statistically significant relationships between the leadership styles investigated and Perceived business performance, the vast majority of respondents agreed that the styles investigated were displayed by the family business owners. For both sample groups Ethical leadership returned the highest mean score, followed by Servant and Participative leadership. The importance of these value-laden leadership styles to family businesses is thus highlighted, contradicting the literature that family businesses owners are often autocratic in their leadership style. In addition, increased clarity on the effectiveness of these value-laden leadership styles within the context of family business is provided.

Continuing the Family-Owned Home-Based Business: Evidence from a Panel Study

1993 ◽  
Vol 6 (4) ◽  
pp. 417-426 ◽  
Author(s):  
Mary Winter ◽  
Margaret Fitzgerald
Keyword(s):  
Family Business ◽  
Panel Study ◽  
Business Owner ◽  
Factors Associated ◽  
Home Based ◽  
The Family ◽  
Positive Feelings ◽  
Changing Attitudes

A panel study of households in which someone is engaged in a home-based family business is analyzed to assess factors associated with the probability that the business will be operating three years later and reasons for quitting the business. Factors associated with the continuation of the business include age and education of the business owner, the number of years in business, positive feelings about the work, and expectations about changing attitudes toward the business. Neither income nor attitudes about income from the home-based work were significant predictors of the owner having the same business three years later.

In the Founder's Shadow: Conflict in the Family Firm

1999 ◽  
Vol 12 (4) ◽  
pp. 311-323 ◽  
Author(s):  
Peter S. Davis ◽  
Paula D. Harveston
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Telephone Survey ◽  
Business Owners ◽  
Next Generation ◽  
Independent Variables ◽  
The Family ◽  
Nonlinear Trends ◽  
Using Data ◽  
Two Independent Variables

This paper examines the extent to which conflict across generations of family firms is due to the effects of two independent variables—generation and generational shadow. The presence of a generational shadow was indicated by whether either or both of the parents continued to influence the company once the next generation assumed control. Hypotheses predicted nonlinear trends in conflict and interactions between generation and generational shadow. Using data from a national telephone survey of over 1,000 family business owners, the results of an ANOVA test confirmed that the presence of generational shadow, in particular, that of the founder, increases organizational conflict.

The Early Entrepreneurial Stage in Finnish Family and Nonfamily Firms

2000 ◽  
Vol 13 (1) ◽  
pp. 41-53 ◽  
Author(s):  
Hannu Littunen ◽  
Kimmo Hyrsky
Keyword(s):  
Family Business ◽  
Manufacturing Industry ◽  
Family Firms ◽  
Well Being ◽  
Business Owners ◽  
Strategic Choices ◽  
Business Services ◽  
Start Up ◽  
The Family ◽  
Unrealistic Expectations

This study examined factors influencing the survival and success of 200 Finnish family and nonfamily firms in the metal-based manufacturing industry and business services over the first three years of their operation. The features that this study reviewed include owner-manager personality attributes, entrepreneurial competence, and motives for the start-up. Strategic choices of the firms were also examined. The study found that family firms were better equipped to survive beyond the early entrepreneurial stage than were nonfamily businesses. The entrepreneurial abilities and resources of the family business owners enabled them to operate relatively successfully in the nearby market, often with one unique product. The family firms were more conscious of survival and family well-being than profitability or market position. A higher mortality rate was discovered among the nonfamily firms. Failed firms were often established with unrealistic expectations, and their performance deteriorated rapidly after their early success.

scholarly journals Governance: Role Of Boards In Women Owned Businesses

2011 ◽  
Vol 4 (6) ◽  
Author(s):  
M. Tony Bledsoe ◽  
Susan B. Wessels
Keyword(s):  
Gross Domestic Product ◽  
Family Business ◽  
Work Force ◽  
Critical Issue ◽  
Business Owners ◽  
Font Size ◽  
Women Business Owners ◽  
University Of Wisconsin ◽  
The University

<p class="MsoNormal" style="text-align: justify; margin: 0in 0.5in 0pt;"><span style="font-size: 10pt;"><span style="font-family: Times New Roman;">According to Astrachan, et al.<span style="mso-spacerun: yes;">&nbsp; </span>(2003), family businesses &ldquo;generate no less than 64 percent of USA gross domestic product, and &hellip; employ a whopping 62 percent of the nation&rsquo;s work force.&rdquo; While the economic impact is evident, the state of governance may not be so apparent. In light of this information, two questions bearing examination are: (1) Is governance a critical issue for family owned businesses; (2) If so, how may these firms address these questions? Researchers at the University of Wisconsin, Oshkosh developed and administered a survey to collect data about family business boards. A companion study, with its focus on women business owners, was conducted by Meredith College researchers. This paper compares and reports the results.</span></span></p>

Gender and business owner satisfaction

2019 ◽  
Vol 9 (4) ◽  
pp. 416-428 ◽  
Author(s):  
Wenxuan Li ◽  
Maria I. Marshall
Keyword(s):  
Family Business ◽  
Business Owners ◽  
Family Businesses ◽  
Medium Size ◽  
Role Satisfaction ◽  
Business Owner ◽  
Men And Women ◽  
Content Type ◽  
Factors Associated ◽  
Farm Family

Purpose The purpose of this paper is to investigate how the factors associated with role satisfaction in farm and non-farm family businesses differ by gender of the business owner. Design/methodology/approach The data used are from a 30-minute telephone survey of owners of farm and non-farm family businesses in Indiana, Illinois, Michigan and Ohio. The sample consists of 627 small- and medium-size family businesses. Three ordered probit regressions are used to analyze role satisfaction. Findings Women’s participation in management and the number of family members in management are positively associated with women’s role satisfaction, while tension from resource competition is negatively associated with role satisfaction. In contrast, men’s role satisfaction is increased through high family business functioning and profit. Practical implications There is no difference in the level of role satisfaction between men and women when one controls for the owner, family and business characteristics. However, there is a difference in the factors that drive role satisfaction between men and women. This may be driven, in part, by what their roles are vis-à-vis the financial aspects of the business. Male and female business owners seem to focus on different aspects of their family business to achieve role satisfaction. Originality/value This paper determines the impact of gender on the role satisfaction of business owners of farm and non-farm family businesses in four Midwestern states. It identifies the different factors associated with role satisfaction for female and male family business owners based on their actual roles.

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