scholarly journals All in the Family? An Exploratory Study of Family Member Advisors and Firm Performance

2015 ◽  
Vol 28 (3) ◽  
pp. 227-242 ◽  
Author(s):  
Lucia Naldi ◽  
Francesco Chirico ◽  
Franz W. Kellermanns ◽  
Giovanna Campopiano
Keyword(s):  
Firm Performance ◽  
Family Member ◽  
Exploratory Study ◽  
First Generation ◽  
Family Firms ◽  
Family Firm ◽  
Future Research ◽  
Swedish Family ◽  
Generation Family ◽  
Future Research Directions

This exploratory study investigates the relationship between family members serving in an advising capacity and family firm performance. Integrating the stewardship and agency perspectives, we predict an inverted U-shaped relationship between the number of family advisors and family firm performance. We argue that the generation in control moderates this relationship such that family member advisors have a positive relationship with performance in first-generation family firms and an inverted U-shaped relationship with performance in later-generation family firms. Our empirical analysis on a sample of 128 Swedish family firms confirms our hypotheses. In the concluding section, we discuss results, contributions and future research directions.

Unmasking the Social Ghost in the Machine: How the Need to Belong and Family Business Potency Affect Family Firm Performance

2020 ◽  
Vol 33 (4) ◽  
pp. 351-371
Author(s):  
Nastaran Simarasl ◽  
David S. Jiang ◽  
Franz W. Kellermanns ◽  
Bart J. Debicki
Keyword(s):  
Firm Performance ◽  
Family Business ◽  
Family Cohesion ◽  
Family Firms ◽  
Firm Heterogeneity ◽  
Psychological Research ◽  
Family Firm ◽  
Future Research ◽  
Need To Belong ◽  
The Social

Research often assumes that a controlling family’s social bonds contributes to superior firm performance. However, there is little theory to address these relationships and findings are often mixed. Here, we integrate resource-based and need-to-belong theories to address these issues, introducing family business potency as a key mediating variable between family cohesion, participative strategy processes, and firm performance in 109 family firms. Altogether, our study answers ongoing theoretical calls for more need-based psychological research in family firms, introduces family business potency to the literature, and contributes to research on family firm heterogeneity. Implications for future research and practice are also discussed.

The Effects of Family Versus Career Role Salience on the Performance of Family and Nonfamily Firms

2009 ◽  
Vol 22 (1) ◽  
pp. 39-52 ◽  
Author(s):  
Tim Barnett ◽  
Kimberly Eddleston ◽  
Franz Willi Kellermanns
Keyword(s):  
Family Firms ◽  
Family Firm ◽  
Performance Outcomes ◽  
Theory And Practice ◽  
Future Research ◽  
Role Salience ◽  
Family Versus ◽  
Future Research Directions ◽  
Using Data ◽  
The Relationship

This study investigated how the relative salience of business owners' family and career roles might influence performance outcomes in family versus nonfamily firms. Using data from 156 family and nonfamily firms, the data show that family firm status moderates the relationships such that the career role salience of a business owner is positively and more strongly associated with performance outcomes in family firms than in nonfamily firms. Conversely, the data show that family firm status negatively moderates the relationship between the business owner's family role salience and expansion activities. Implications for theory and practice, as well as future research directions, are discussed.

Brand management research in family firms

2016 ◽  
Vol 6 (3) ◽  
pp. 225-250 ◽  
Author(s):  
Susanne Beck
Keyword(s):  
Family Firms ◽  
Brand Management ◽  
Family Firm ◽  
Future Research ◽  
Practical Relevance ◽  
Management Research ◽  
Research Directions ◽  
Content Type ◽  
Future Research Directions ◽  
Research Questions

Purpose The purpose of this paper is to highlight the relevance of conducting brand management research in a family firm context and to identify future research directions by reviewing and structuring the existing literature. Design/methodology/approach The potential consequences of being a family firm on internal organizational processes and stakeholders’ external perception are depicted. Afterwards the literature considering brand management research in family firms is reviewed systematically (n=41) and structured by applying the Organizational Viewpoint Framework. Relevant research questions are derived based on the findings and their practical relevance is tested. Findings The contributions are threefold. First, depicting the effects of being a family firm on the organization and its stakeholders highlights the relevance of conducting brand management research in family firms. Second, structuring the literature regarding the effects of being a family firm on organizational identity, intended brand image, construed brand image, and reputation helps derive research questions of theoretical and practical relevance that will serve the field as a guide for future research directions. Third, by extending the Organizational Viewpoint Framework originating from brand management research with the element of being a family firm, a further attempt at bridging both research fields is undertaken. Originality/value This paper represents an important next step in the development of this research field by highlighting the importance of conducting brand management research in a family firm context and by structuring existent research to depict future research opportunities with theoretical and practical relevance.

A systematic review of innovation in family firms and future research agenda

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Manzoor Ul Akram ◽  
Koustab Ghosh ◽  
Dheeraj Sharma
Keyword(s):  
Dynamic Capabilities ◽  
Family Firms ◽  
Institutional Environment ◽  
Family Firm ◽  
Strategic Decision ◽  
Future Research ◽  
Research Directions ◽  
Content Type ◽  
Future Research Agenda ◽  
Future Research Directions

PurposeIn this paper, the authors have used a systematic literature review methodology of 147 journal articles published in peer-reviewed journals. The analysis includes studies based on country of origin, the periodic proliferation of studies and the methodological design of the studies. As an outcome of the review, the studies are classified on the innovation in family firms under four broad categories – innovation input, family governance mechanisms, innovation output and the external environment. Some fruitful avenues of research are outlined in this domain.Design/methodology/approachThe literature on innovation in family firms – the most dominant and ubiquitous form of organization across the world – is gaining pace. The influence of family by way controlling ownership, management and governance on, and in interaction with business acts as a complex proposition that shapes the strategic decision-making in the family firm including innovation. The purpose of this paper, therefore, is to advance the understanding of innovation in family firms and provide a list of future research questions of theoretical and practical value.FindingsBased on this review, the authors provide future research directions pertaining to innovation in emerging economy family firms, effect of the institutional environment of family firm innovation as well family firms' innovativeness in the wake of pro-market reforms, different classes of ownership in family firms and innovation, family firm goal heterogeneity and innovation, and family firm dynamic capabilities and innovation.Originality/valueThe review provides a comprehensive understanding, trends and future research directions in the domain of innovation in family firms.

Examining the Relation Between Ethical Focus and Financial Performance in Family Firms: An Exploratory Study

2010 ◽  
Vol 23 (4) ◽  
pp. 310-326 ◽  
Author(s):  
Ernest H. O'Boyle ◽  
Matthew W. Rutherford ◽  
Jeffrey M. Pollack
Keyword(s):  
Firm Performance ◽  
Financial Performance ◽  
Family Involvement ◽  
Family Business ◽  
Exploratory Study ◽  
Family Firms ◽  
Research Area ◽  
Future Research ◽  
Business Studies ◽  
And Performance

Empirically, the confluence of family involvement, ethics, and performance is a sparse research area. The authors explore a rich theoretical framework relating family involvement, ethical focus, and firm performance and empirically test a mediated model using a sample of 526 family businesses. The results illustrated that a firm’s ethical focus mediated the relation between family involvement and financial performance. Specifically, data supported the relation between family involvement and a firm’s ethical focus. And increased ethical focus predicted increased financial performance. The authors discuss the implications of these findings and offer potential areas for future research in family business studies.

scholarly journals Commentary: Blockholder Structures and Power Mechanisms in Family Firms

2017 ◽  
Vol 42 (2) ◽  
pp. 252-258 ◽  
Author(s):  
Gabriella Cacciotti ◽  
Deniz Ucbasaran
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Family Firm ◽  
Future Research ◽  
Potential Conflict ◽  
Voting Power ◽  
Multiple Generations ◽  
The Family ◽  
Distribution Of Resources ◽  
The Relationship

We extend the work of Fattoum-Guedri, Guedri, and Delmar (2018) by suggesting that the number of family blockholders moderates the relationship between the distribution of voting power between family and nonfamily blockholders and firm performance. Building on power and negotiation theories, we argue that the participation of multiple generations of family members in the firm’s ownership leads to greater diversity of perspectives that generates potential conflict over the distribution of resources. We highlight four power mechanisms—potential power, perceived power, power games, and realized power—to explain why family blockholders’ conflicting and/or misaligned preferences, objectives, and visions for the family firm might influence the nature of the negotiation between the family and the nonfamily blockholder and impact family firm performance. We offer directions for future research.

Socioemotional Wealth and Its Effect on Family Firm Performance

2020 ◽  
pp. 201-227 ◽  
Author(s):  
Juili Milind Ballal ◽  
Varadraj Bapat
Keyword(s):  
Firm Performance ◽  
Internal Consistency ◽  
Family Firms ◽  
Family Firm ◽  
Future Research ◽  
Significant Positive Effect ◽  
Strategic Choices ◽  
Socioemotional Wealth ◽  
The World ◽  
Positive Effect

Family firm is the oldest and the most prevalent type of business entity in the world. A unique feature that sets apart a family business from its non-family counterparts is the Socioemotional Wealth (SEW). Preservation of SEW among family firms is of paramount importance. Various strategic choices including need for innovation and internationalization are influenced by SEW. Studies also show that a family firm's SEW plays an influential role in the firm performance. The This chapter outlines the different scales used to measure SEW, checks the reliability and internal consistency of the existing REI scale in Indian context, investigates the heterogeneity of family firms and understands the effect of different SEW dimensions on firm performance. The findings reveal that SEW has a significant positive effect on firm performance. Contributions of the study and scope for future research are also discussed.

Internationalization and family firm performance

2020 ◽  
Vol 27 (1) ◽  
pp. 1-25
Author(s):  
Bart J. Debicki ◽  
Chao Miao ◽  
Shanshan Qian
Keyword(s):  
Firm Performance ◽  
Family Firms ◽  
Meta Analysis ◽  
Family Firm ◽  
Future Research ◽  
Content Type ◽  
Potential Impact ◽  
The Impact ◽  
Positive Effect

Purpose The purpose of this paper is to evaluate the effect of internationalization on performance in family firms, as well as the potential impact of moderators on this relationship. Design/methodology/approach This paper is a meta-analysis of the impact of internationalization on performance in family firms, as well as the role of several moderators shaping this relationship, based on 29 studies. Findings The findings indicate a significant positive effect of internationalization on family firm performance. This relationship was stronger in family firms with lower family ownership. Several methodological moderators were significant, such as the means of measuring performance and internationalization. The results also point to several cultural moderators, such as individualism, masculinity, low uncertainty avoidance and short-term orientation, which positively influence the main effect. Originality/value The authors provide discussions of the results, their practical and theoretical implications, as well as avenues for future research.

A Short Review on Structural Equation Modeling: Applications and Future Research Directions

2015 ◽  
Vol 4 (3) ◽  
Author(s):  
Surajit Bag
Keyword(s):  
Structural Equation Modeling ◽  
Structural Equation ◽  
First Generation ◽  
Analytical Techniques ◽  
Short Review ◽  
Equation Modeling ◽  
Future Research ◽  
Multivariate Techniques ◽  
Statistical Efficiency ◽  
Future Research Directions

The application of multivariate techniques is mainly to expand the researchers explanatory ability and statistical efficiency. The first generation analytical techniques share a common limitation i.e. each technique can examine only a single relationship at a time. Structural Equation Modeling, an extension of several multivariate techniques is the technique popularly used today can examine a series of dependence relationships simultaneously. The purpose of this study is to provide a short review on Structural Equation Modeling (SEM) being used in social sciences research. A comprehensive literature review of article appearing in top journals is conducted in order to identify how often SEM theory is used. Also the key SEM steps have been provided offering potential researchers with a theoretical supported systematic approach that simplify the multiple options with performing SEM.

Coexisting Agency and Stewardship Governance in Family Firms: An Empirical Investigation of Individual-Level and Firm-Level Effects

2017 ◽  
Vol 30 (4) ◽  
pp. 347-368 ◽  
Author(s):  
Kristen Madison ◽  
Franz W. Kellermanns ◽  
Timothy P. Munyon
Keyword(s):  
Family Firms ◽  
Empirical Investigation ◽  
Future Research ◽  
Firm Level ◽  
Research Directions ◽  
Agent Behavior ◽  
Individual Level ◽  
Future Research Directions ◽  
Level Performance ◽  
Triadic Data

This article theoretically and empirically intertwines agency and stewardship theories to examine their distinct and combined influences on family firms. Primary matched triadic data from CEOs, family employees, and nonfamily employees in 77 family firms suggest that agency and stewardship governance affects individual-level behavior and firm-level performance. Specifically, agent behavior is highest under conditions of coexisting low agency governance and high stewardship governance and is lowest when agency and stewardship governance coexist at high levels. Furthermore, when high levels of agency and stewardship governance coexist, family firm performance is the highest. Theoretical implications and future research directions are discussed.

Sign in / Sign up

Export Citation Format

Share Document