scholarly journals Family Business Continuance: A Review for Future Research

2021 ◽  
Author(s):  
Annisa Ramadanti ◽  
Nyayu Lathifah Tirdasari ◽  
Wawan Dhewanto
Keyword(s):  
Family Business ◽  
Future Research

Professional trilemma of students with family business experience

Kybernetes ◽  
2016 ◽  
Vol 45 (3) ◽  
pp. 446-460 ◽  
Author(s):  
Jaka Vadnjal ◽  
Predrag Ljubotina
Keyword(s):  
Family Business ◽  
Design Methodology ◽  
Future Research ◽  
Related Factors ◽  
Senior Student ◽  
Content Type ◽  
East European ◽  
Educational Backgrounds ◽  
The Mean

Purpose – Family businesses represent the largest share of small-sized firms in majority of economies around the world. Having in mind the global economic situation this trend is expected to be continued. With the goal of better understanding of the process of transferring the business to the next generation, which ensures a long-term success, the purpose of this paper is to investigate expectations of student’s with family business background. Design/methodology/approach – The research addresses the issue of an individual’s perception of entrepreneurship and the related factors that influence individual’s decision on whether to build a career as an employee, become a successor of family business or start own business as an independent entrepreneur. The authors separately analyzed West European (data from another study), East European and Slovenian senior student population for the purpose of comparative study. Students were surveyed and binominal regression was used for statistics. Findings – The results show differences between investigated populations and positions Slovenian students in the mean. The authors anticipate that differences are caused by historical, cultural and educational backgrounds. This challenging area is raising a lot of sub-questions for possible future research. Originality/value – The value of the study is in the replication of the existing methodology from the benchmarking study and result comparison.

scholarly journals Strategic and Organizational Change

2020 ◽  
Vol 10 (1) ◽  
Author(s):  
Katiuska Cabrera Suarez ◽  
Elena Rivo-López ◽  
Santiago Lago-Peñas ◽  
Santiago Lago-Peñas
Keyword(s):  
Organizational Change ◽  
Family Business ◽  
Family Firms ◽  
Health Sector ◽  
Family Businesses ◽  
Future Research ◽  
Strategic Orientations ◽  
The Family ◽  
Private Health Sector ◽  
Responsible Ownership

Nowadays, family businesses, the predominant form of business worldwide, face an increasingly changing environment boosted by megatrends such as globalization, digitalization, artificial intelligence, climate change and sustainability. Along with this, are factors that play at a firm level such as stricter rules concerning transparency and compliance or the increasing importance of Corporate Social Responsibil- ity (CSR). Therefore, new strategies and organizational changes are necessary to allow for greater adaptation to the new context. This special issue provides insights on these questions from a variety of perspectives.                                           The work of Hernández-Linares and López-Fernán- dez expands the current thinking on this process of adaptation by exploring the combined effects of three strategic orientations (entrepreneurial, learning, and market orientations) on the family firm ́s performance. The authors provide interesting contributions in terms of highlighting the importance of strategic orientations for value creation in enterprise organizations. They also provide empirical evidence that the family char- acter of the firm determines the relationship between strategic orientations and business performance, and offer some results on the effect of market orientation on firm performance in family firms versus non-family firms.                                                                                                 Those differences in strategies are further ana- lysed within the setting of the business dimension in which financial and economic decisions are made. The contribution by Terrón-Ibáñez, Gómez-Miranda and Rodríguez-Ariza, discusses the influence of that di- mension in their performance, comparing family and non-family firms. This interesting analysis of financial performance provides useful results. The study showsthat, unlike non-family firms, there is an inverted U- shaped relationship between the size of family SMEs and the value of certain economic–financial indicators, such as the return on assets, operating margin and employee productivity. This means that although the increase in the dimension of the family organizations is positively related to its performance, there are lim- its from which the value of certain economic–financial indicators can be negatively affected.                                                                                                                                                           The next paper contributes to the discussion of the family business’s role in the private health sector. Reyes-Santías, Rivo-López and Villanueva-Villar, set out to identify the historical evolution of the family business in this sector, attempting to determine the variation and its contribution to the private health sector during the 1995-2010 period. The findings of this discussion provide family firms with an almost 60% survival level in this sector. Along with this, the au- thors provide some guidelines for future research con- cerning this higher degree of survival, why family firms are leading the concentration process taking place in the sector, as well as their strategies for super-spe- cialization in the services offered especially by family businesses in healthcare.         The effect of family ownership and the character- istics of the board of directors on the implementation level of Enterprise Risk Management is an important topic. The article by Otero-González, Rodríguez-Gil, Durán-Santomil and Tamayo-Herrera certainly adds to the discussion. In particular, their research shows that family businesses are less interested in implementing ERM, except when shareholders have greater control of the company and when professional investors are present in the company. Besides, the importance of a board of directors’ characteristics of in terms of risk taking is confirmed by observing that larger boards en- courage risk managers to be hired.                                                                                                                                                           The paper by Lorenzo-Gómez looks at the barriers to change that are specific to the characteristics of family business, considering both the barriers that af- fect the perception of the need to undertake changes and the availability of resources to face those chang- es, and the barriers to implementing these changes within already consolidated organizations, where new routines are created to replace the existing ones. Thefindings suggest that the factors affecting these barri- ers include the generation at the head of the family business; the influence of interest groups, particularly in terms of the duality between the company and the family; and the participation level of professionals from outside the family.                                                                                         The final contribution by Aragon-Amonarriz and Iturrioz-Landart offers an interesting discussion on how family-responsible ownership practices enhance social responsibility in small and medium family firms. Their results reveal the positive relationships between the elements of family-responsible ownership in terms of succession management, financial resource allocation, professionalism and social responsibility, and ultimate- ly with the socially responsible behaviour of family SMEs.                                                                                                                 The challenges surrounding family business owners and the nuances around strategic and organizational decision making are together an area ripe for future research. The editors look forward to seeing future de- velopments on these topics that pay special attention to the influence of family characteristics and dynamics on the strategic and organizational change of family firms, and that draw on both quantitative and quali- tative research methodologies for the wider develop- ment of the field. Acknowledgements. The papers published in this issue were presented at the “II Workshop of Family Business: Strategic and Organizational Change” at Ourense, Galicia, Spain, June, 13-14, 2019. The conference was organized by GEN group research (http:// infogen.webs.uvigo.es/) and the Chair of Family Business of the University of Vigo, and was sponsored by the AGEF (Galician Family Business Association), Inditex Group, IEF (Spanish Family Firm Institute), and with ECOBAS group as collaborator. Thanks for their invaluable support. We are also very thankful of all other participants at the conference.   Katiuska Cabrera Suárez,  University of Las Palmas Elena Rivo-López, co-director of the Chair of Family Business, University of Vigo Santiago Lago-Peñas, co-director of the Chair of Family Business, University of Vigo    

The Social Psychology of Family Shareholder Dynamics

1998 ◽  
Vol 11 (3) ◽  
pp. 253-260 ◽  
Author(s):  
John A. Davis ◽  
Rita M. Herrera
Keyword(s):  
Social Psychology ◽  
Family Business ◽  
Social Power ◽  
Future Research ◽  
Group Cohesiveness ◽  
The Social ◽  
The Family ◽  
Diffusion Of Responsibility

Family shareholder dynamics can dramatically influence a family business, however, this has received little attention in the family business literature. To expand our understanding of family shareholder behavior, we have introduced several concepts from social psychology that help explain why family shareholders behave as they do: group cohesiveness, conformance, diffusion of responsibility, deindividuation, and social power. We have commented on the application of each theory for family companies and their consultants and have suggested directions for future research on this topic.

scholarly journals Financing Decisions in Family Businesses: A Review and Suggestions for Developing the Field

2017 ◽  
Vol 30 (4) ◽  
pp. 369-399 ◽  
Author(s):  
Anneleen Michiels ◽  
Vincent Molly
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Future Research ◽  
Financing Decisions ◽  
Research Fields ◽  
Theoretical Perspectives ◽  
Specific Factors ◽  
Context Specific ◽  
Business Financing

Motivated by the growing attention to the financing decisions of family firms, this review brings together the two highly relevant research fields of family business and finance. This study critically reviews 131 articles on financing decisions in family businesses, published between 1977 and 2016 in 64 finance and management journals. We develop a state of the art on family business financing literature and present a model to guide extant and future research by identifying gaps across the theoretical perspectives and across context-specific elements such as family business heterogeneity and country-specific factors.

Knowledge transfer in family business successions

2015 ◽  
Vol 5 (1) ◽  
pp. 17-37 ◽  
Author(s):  
Britta Boyd ◽  
Susanne Royer ◽  
Rong Pei ◽  
Xiaolei Zhang
Keyword(s):  
Knowledge Transfer ◽  
Competitive Advantage ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Theory And Practice ◽  
Future Research ◽  
Content Type ◽  
Business Environments ◽  
Theoretical Reasoning

Purpose – Knowledge often is the fundament for strategic competitive advantage. Thus, it is highly relevant to understand better how knowledge is transferred from one generation to the next in family businesses. The purpose of this paper is to link the competitive advantage realisation in family businesses to the success of transferring strategically valuable knowledge in different business environments to the next generation. Design/methodology/approach – Building on the contingency model of family business succession (Royer et al., 2008) knowledge transfer in family businesses from different cultures is investigated in this paper. From a resource-oriented and transaction cost inspired perspective two family businesses with a similar industry background from China and Europe are compared regarding knowledge transfer in the context of family firm succession taking into account the respective transaction atmosphere. Findings – Different successions for two long-lived family firms are illustrated in a systematic fashion: based on the theoretical elements suggested both cases are described to get insights into the usefulness of the theoretical reasoning developed. On the basis of these, the cases are compared with each other and conclusions for both cases are drawn. Implications for theory and practice as well as avenues for future research are sketched. Originality/value – The focus of the current study is to gain more insight into long-lived family businesses by comparing two cases over a period of more than 200 years with regard to strategically relevant resources as well as the underlying transaction atmospheres. Implications for family firms depending on the resource types and transaction atmosphere are discussed.

Direct and indirect effect of entrepreneurial orientation, family involvement and gender on family business performance

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Erny Rachmawati ◽  
Suliyanto ◽  
Agus Suroso
Keyword(s):  
Family Involvement ◽  
Family Business ◽  
Entrepreneurial Orientation ◽  
Business Performance ◽  
Family Businesses ◽  
Future Research ◽  
Content Type ◽  
The Family ◽  
The Relationship

PurposeThis study aims to determine the direct effect of entrepreneurial orientation on family business performance. This study also discusses the role of family involvement as a mediating variable and the role of gender as a moderating variable in the relationship between entrepreneurial orientation and family business performance.Design/methodology/approachA total of 328 hotels in Yogyakarta, Indonesia, were selected as samples by the convenience sampling method. Primary data is collected through structured questionnaires that are delivered by themselves to key people in the hotel such as owners, directors and key staff (HRD, financial, relationship). Hypotheses are tested by structural equation modeling procedures using AMOS 22.0. Sobel test is used to determine the indirect effect of the mediation variable.FindingsThe results showed that entrepreneurial orientation had no significant effect on family business performance. Family involvement acts as a full mediation in the relationship between entrepreneurial orientation and family business performance. Gender acts as a moderating variable that can strengthen the relationship between entrepreneurial orientation and family business performance. The results showed support for previous research.Research limitations/implicationsThe results of the study cannot conclude the national family business because it adopts convenience sampling and the sampling area is limited in Yogyakarta. Future research can use a larger sample. This study only researches hotels managed by family businesses, so it is not feasible to conclude for family businesses in general. Future research may choose to use several types of family businesses so that more varied results can be obtained. Future research could also compare hotels managed by family businesses with non-family businesses. The results also found that in addition to gender roles, respondent heterogeneity was an important component in the study of social identity. Therefore, research examining the influence of different cultures on the relationship between entrepreneurial orientation and family business performance should be an extraordinary topic for future study. Other results from this study also indicate that there is a role for religion in improving hotel performance. Future research is needed to further explore Islamic business modeling for family businesses.Practical implicationsThis finding has significant implications that can help family businesses in developing strategies that are suitable for business management. Entrepreneurial orientation occupies a strategic position in developing sustainable competitive advantage in the family business of the tourism sector especially the hotel business in Yogyakarta for the better. Besides, the results of the study also showed that entrepreneurial orientation had no significant effect on performance. This relationship becomes significant when combined with active family involvement. This finding also shows that entrepreneurial orientation has the potential to have a more beneficial effect because of the active involvement of the family in helping with business management, alleviating business-related problems, and having a significant influence when the family also acts as management.Social implicationsResearch findings indicate the role of gender in strengthening the relationship between entrepreneurial orientation and family business performance. This provides a good position for women in the social environment to show achievement. To place women on the side of gender equality and justice in the family business in Indonesia. By opening wider access for Indonesian women in the realm of business management, expanding women's participation in a family business, increasing the role of control for women, and increasing women's knowledge and skills to increase the benefits in managing family businesses so that they have sustainable resilience in the face of global competition.Originality/valueThe results of this study provide a new model in providing an overview of the direct and indirect roles (mediating and moderating) in the assessment of family business performance. This study uses three variables which are important in performance appraisal, namely entrepreneurial orientation (independent variable), family involvement (mediating variable) and gender (moderating variable). Where research that combines these four variables, directly and indirectly, has never been done before.

scholarly journals The what and how of Family business paradox: Literature-inspired distillations and directions

2020 ◽  
Vol 38 (3) ◽  
pp. 154-183
Author(s):  
Mary A Barrett ◽  
Ken Moores
Keyword(s):  
Literature Review ◽  
Family Business ◽  
Future Research ◽  
Research Directions ◽  
Research Opportunities ◽  
Learning Framework

The purpose of this article is to review and comment on the literature on family business paradox against the backdrop of Moores and Barrett’s 4Ls learning framework. This framework outlined the learning paradoxes, priorities and pathways that successful family business CEOs identified and coped with in their learning journeys. A ‘what and how’ theme emerges from our literature review (203 items) where we identify both confirmations and deficiencies in the 4Ls framework – deficiencies that suggest future research opportunities. Research directions are distilled in the form of questions that extend the 4Ls by enhancing the model both within it and by connecting it with adjacent areas.

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.

Philanthropy in Family Enterprises

2015 ◽  
Vol 29 (1) ◽  
pp. 121-141 ◽  
Author(s):  
Neus Feliu ◽  
Isabel C. Botero
Keyword(s):  
Systematic Review ◽  
Family Business ◽  
Future Research ◽  
Business And Society ◽  
Review Of The Literature ◽  
Individual Level ◽  
Family Enterprises ◽  
The Subject ◽  
The Individual

Philanthropy in family enterprises operates at the crossroads of family, business, and society. Most of the research in this area is approached from the business or the individual level; thus, we have a fragmented understanding of philanthropy in family enterprises. This article presents a systematic review of the literature on the subject. Based on 55 sources published between 1988 and 2014, we explain the drivers of this behavior, the vehicles used to practice it, and the outcomes tied to the practice of philanthropy in family enterprises. We identify gaps in our understanding and provide ideas for future research.

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