scholarly journals Diversity and uniqueness of Family business in the North of Portugal

2018 ◽  
Vol 4 (2) ◽  
pp. 80
Author(s):  
Ana Paula Marques
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Growth Potential ◽  
Ongoing Research ◽  
The North ◽  
Core Elements ◽  
Definition Of ◽  
The Impact ◽  
Business Family

Family businesses are the most omnipresent form of business organisations at the international and national levels. In Portugal, family firms account for more than 70% of all businesses, contributing with 50% in employment creation. Yet, most of the existing literature does not converge in a consensual and operative definition of what are core elements which distinguish family business from non-family business. Therefore, it is crucial to extend our knowledge on important family business topics due to the broadness, diversity, uniqueness and growth potential of family business in the whole world. In this sense, the ongoing project “Roadmap for Portuguese Family Businesses” (NORTE2020/FEDER) is focused on providing a better understanding and assessment of the impact of family businesses in the North of Portugal on the local, national and international economies. This research addresses a major problem that has been identified in Europe and consists in the lack of institutional visibility, particularly of accurate and up-to-date statistics in this sector. This paper begins by identifying some of the interesting research questions that emerge from examining the business family portraits. Then, based on some preliminary empirical findings gathered from ongoing research, first of all, we intend to identify interesting profiles of family business by mobilising some socioeconomic variables; and secondly, to point out major challenges faced by Portuguese family business.

What Is Continuity?

1998 ◽  
Vol 11 (4) ◽  
pp. 337-347 ◽  
Author(s):  
Nancy Drozdow
Keyword(s):  
Family Business ◽  
Family Businesses ◽  
The Family ◽  
Core Elements ◽  
Definition Of ◽  
Gains And Losses ◽  
Unique Core

This article examines and expands the concept of continuity and asserts that family businesses and consultants retain a unidimensional definition of continuity in which success is attained only when family and business remain together. It suggests that this thinking is stale—muddied by an idealized version of the family business—and argues that continuity should be defined as the preservation of one or more essential, unique core elements that in turn implicate a set of tradeoffs or elements that may be sacrificed. Continuity approached in this way, where the pursuit of any dimension will have both gains and losses, will inevitably enrich both the client and consultant.

scholarly journals Change in Illiquidity of Family Firms with Institutional Pressure: Evidence from India

2021 ◽  
Vol 24 (2) ◽  
pp. 173-197
Author(s):  
Amit Chakrabarti ◽  
Kaveri Krishnan
Keyword(s):  
Panel Data ◽  
Multiple Regression ◽  
Family Business ◽  
Family Firms ◽  
Emerging Market ◽  
Family Businesses ◽  
Regulatory Changes ◽  
Institutional Pressure ◽  
The Family ◽  
The Impact

This paper investigates the impact of the family business on illiquidity in an emerging market and how it evolves with regulatory changes. The study uses panel data multiple regression on a sample of 25,418 observations on 3,606 firms from India within nine years from 2006 to 2014. The study finds that family firms have significantly higher illiquidity compared to non-family firms. Moreover, family businesses have successfully resisted the institutional pressure to decrease illiquidity and have also defied these coercive pressures to increase the illiquidity of family businesses finally. The study also found heterogeneity in the behaviour of family businesses based on their ownership characteristics.

scholarly journals My Forty Years in Studying and Helping Family Businesses

2021 ◽  
Vol 11 (1) ◽  
Author(s):  
Gibb Dyer
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Theory And Practice ◽  
The Past ◽  
Family Capital ◽  
The Family ◽  
The Impact

This article will describe the trends in the field of family business over the past forty years in terms of theory and practice. Topics such as succession, consulting with family businesses, the effectiveness of family firms, the role of socio-emotional wealth in family firms, heterogeneity in family businesses, and the impact of family capital on the business and the family will be discussed.

Unleashing the Relationship Power of Family Firms: Identity Confirmation as a Catalyst for Performance

2008 ◽  
Vol 32 (6) ◽  
pp. 1063-1081 ◽  
Author(s):  
Laurie P. Milton
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Theory Of The Firm ◽  
Family Businesses ◽  
Relationship Power ◽  
Business Research ◽  
Broad Perspective ◽  
Relational Capabilities ◽  
The Impact ◽  
The Relationship

This paper adopts a broad perspective on identity and identity relations and argues that family businesses can develop identity confirmation as a unique, hard to imitate competitive resource that unleashes and leverages the relational capabilities that differentiate them from nonfamily businesses. A person's identities are “confirmed” in a business, to the extent they are supported therein. Identity and identity confirmation research is marshaled to consider the impact of identity confirmation on succession. Implications for other relational challenges family businesses face are explored. The potential for family business research to contribute to a general theory of the firm is illustrated.

FOUNDER CENTRALITY, MANAGEMENT TEAM CONGRUENCE AND PERFORMANCE IN FAMILY FIRMS: A KENYAN CONTEXT

2008 ◽  
Vol 13 (04) ◽  
pp. 383-407 ◽  
Author(s):  
LOUISE KELLY ◽  
PETER M. LEWA ◽  
KINYUA KAMARIA
Keyword(s):  
Social Network ◽  
Firm Performance ◽  
Family Business ◽  
Family Firms ◽  
Negative Influence ◽  
Family Businesses ◽  
Management Team ◽  
Research Findings ◽  
And Performance ◽  
The Impact

Applying social network theory to family business, founder centrality has been generally shown to positively affect top-management-team congruence and, as a consequence, firm performance. This study applies social network and strategic leadership theory to an examination of founder centrality in family businesses. It focuses on family businesses in Kenya, and examines the impact of the founder's influence on management team congruence in the three strategic areas of culture, vision, and goals. The discussion considers the research findings in Kenya of a negative influence of founder centrality on management team congruence and firm performance. The study concludes with a presentation of some possible reasons for this dynamic in developing countries like Kenya, where family business is prevalent, and in which the founder plays a central role.

scholarly journals International business & family business: Potential dialogue between disciplines

2017 ◽  
Vol 7 (1-2) ◽  
Author(s):  
José C. Casillas ◽  
Ana M. Moreno-Menéndez
Keyword(s):  
Social Capital ◽  
International Business ◽  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Cross Cultural ◽  
Cultural Management ◽  
Cross Cultural Management ◽  
Business Family ◽  
Corporate Government

25 years ago, Gallo and Sveen (1991) published the first paper about internationalization of family businesses. Since then, research in this area has steadily increased. In this article, I review the evolution of the literature that has combined international business and family firms (102 papers from 1991 to 2015), and I identify six promising areas for research through a dialogue between both disciplines: (1) mission and objectives of firms: the meaning of “performance”, (2) corporate government and international business, (3) attitude to risk and internationalization patterns, (4) timing, pace and speed of internationalization, (5) cross-cultural management, and (6) network perspective and social capital of firms.

scholarly journals Professionalization of Family Firms: Striking a Balance Between Personal and Non-Personal Factors

2021 ◽  
Author(s):  
Zoltán Kárpáti
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Businesses ◽  
Added Value ◽  
Personal Factors ◽  
Multidimensional Model ◽  
Comprehensive Overview ◽  
Formal Control ◽  
Significant Research ◽  
Definition Of

The amount of research on family businesses’ analysis has increased significantly in recent years, thus showing the high importance of the topic. In most countries, family businesses occupy a prominent place in contributing to the economy with the added value they produce. However, less attention has been paid to the professionalization of family businesses and the exploration and presentation of the related literature. The professionalization of family business is a significant research concern in the entrepreneurship and governance literature. In the context of family businesses, professionalization initially meant nothing more than hiring an outside, non-family manager. For today, the content of professionalization has expanded, and a multidimensional model has evolved: a broader, deeper understanding has evolved, which involves other vital aspects such as developing formal control and human resource systems, decentralization of authority, formal strategic planning, or top-level activeness. This study aims to present the essential international literature on professionalization and provide a comprehensive overview of the studies published. The literature review mainly summarizes the results of the last twenty years and closely related articles. The paper follows the next logic; in the first part, the definition of professionalization is introduced along with its benefits and challenges. Then, based on the research methodology presented, the related empirical and theoretical studies are examined. In the end, the review summarizes the key findings in a table.

The effect of institutional transition on entrepreneurial orientation of family businesses

2018 ◽  
Vol 26 (1) ◽  
pp. 76-97
Author(s):  
Amit Baran Chakrabarti ◽  
Arindam Mondal
Keyword(s):  
Family Business ◽  
Entrepreneurial Orientation ◽  
Family Firms ◽  
Emerging Market ◽  
Family Businesses ◽  
Least Square ◽  
Family Ownership ◽  
Content Type ◽  
Institutional Transition ◽  
The Impact

Purpose The purpose of this paper is to ascertain the impact of family ownership on the entrepreneurial orientation (EO) of firms in an emerging market and the contingencies under which it is likely to be affected. Design/methodology/approach The paper adopted a panel data multiple regression using ordinary least square methodology on a sample of 51,972 observations belonging to 12,250 firms from India. Findings The study finds that family businesses have higher EO than non-family firms. However, it is likely to be affected during institutional transition due to environmental uncertainty. Furthermore, during institutional transition, there will be differences in the EO of family business groups and stand-alone family firms due to the former’s ubiquitous network-level resource advantages. Research limitations/implications This paper contributes to the literature on family business by reconciling the positive and negative views on the effect of family ownership on EO by arguing that the risk-taking behavior of family firms is contingent on the environmental conditions and the resource position of the firm. Practical implications This study will enable managers and other stakeholders to predict the entrepreneurial attitude of family-owned firms during environmentally stable as well as turbulent times. Social implications This study highlights the implication of institutional transition through reforms on a vital part of the economy. Policy makers have to be sensitive to repercussions on family business due to environmental turbulence. Originality/value This is one of the first papers that investigate the influence of institutional transition and the resource position of Indian family firms on their EO.

scholarly journals Family firms and performance empirical analysis from Spain

2017 ◽  
Vol 14 (4) ◽  
pp. 380-395 ◽  
Author(s):  
A. T. Lious Ntoung ◽  
Jorge Eduardo Vila Biglieri ◽  
Ben C. Outman ◽  
Eva Masárová ◽  
Aziz Babounia ◽  
...  
Keyword(s):  
Family Business ◽  
First Generation ◽  
Family Firms ◽  
Positive Impact ◽  
Family Businesses ◽  
Medium Size ◽  
Concentrated Ownership ◽  
Incentive Policy ◽  
And Performance ◽  
The Impact

This paper provides empirical evidence on the impact of family-controlled firms on corporate performance, using financial information of 47590 family firms from 2010 to 2014. From the overall sample, approximately two-third of family firms have concentrated ownership, meanwhile, the remaining one-third have dispersed and unknown ownership. With respect to generation, 76% of the family firms were in the first generation, 21% for the second generation and approximately 3% for the third generation. The main findings are that ownership structure of family firms have a positive impact on their performance. Specifically, family firms with concentrated ownership outperformed family firms with dispersed ownership; however, family firms in the 1ª generation outperform family business in the 2ª and 3ª generation. Also, aggressive incentive policy negatively affects the performance of family business for the 1ª generation and has no impact on performance for 2ª and 3ª generational firms. Unlisted family firms have lower performance than listed family firms. Lastly, medium size family businesses outperform than small and large size family businesses.

scholarly journals FAMILY FIRMS: COVID-19 CHALLENGES AND FUTURE OUTLOOK

2021 ◽  
pp. 39-45
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Corporate Strategy ◽  
Academic Research ◽  
Family Businesses ◽  
Technological Transformation ◽  
Future Outlook ◽  
Academic Literature ◽  
Business Survey ◽  
The Impact

The COVID-19 pandemic endangered the survival of many firms and emphasized the need to reevaluate corporate strategy. This paper studies the impact of the pandemic on family businesses and how it changed their strategy, priorities, and outlook. We use data from the PricewaterhouseCoopers (PwC) Family Business Survey 2021 that covers 2,801 family firms in 87 countries. Our study highlights some of the challenges family businesses faced during the pandemic and the need for an updated blueprint to ensure their long-lasting success. The survey draws attention to the financial resilience of family businesses and their unique advantages in terms of reputation and trust. However, it also underscores the need for family firms to adopt a more focused environment, social and governance (ESG) agenda, and to invest in technological transformation. The paper analyzes the congruity between academic research and CEO responses and forms a bridge between the academic literature on family firms and the real-world surveys of CEOs of family businesses conducted by PwC.

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