scholarly journals GOVERNABILIDADE NA FAMÍLIA EMPRESÁRIA / GOVERNABILITY IN THE FAMILY BUSINESSES

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Jorge Rodrigues
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Research Strategy ◽  
Integrative Model ◽  
Exploratory Research ◽  
Theory Of Practice ◽  
The Family ◽  
Structured Knowledge ◽  
Business Family

O artigo pretende estabelecer o estado da arte da governabilidade na família empresária. Ao rever a literatura pertinente sobre o campo família empresária contribui-se para a construção de conhecimento organizado e estruturado, para compreender melhor os conceitos subjacentes. Prosseguiu-se uma estratégia de investigação exploratória a qual se socorreu da “teoria da prática” de Bourdieu, para que surja uma visão inovadora do que se passa no campo em análise. Este é um tema complexo e multifacetado que pretende equilibrar os poderes soberano, executivo e de fiscalização, entre a família empresária e o negócio de família. Aquele equilíbrio depende dos estádios de desenvolvimento da família e envolve as estruturas, os processos e políticas que lhe dão forma. Como principais contributos aponta-se para um conjunto de questões centradas nos relacionamentos dos vários membros da família empresária e o modo como esta está comprometida e envolvida no sucesso do negócio a longo prazo. Estas questões destinam-se a ser incluídas num modelo integrador de governabilidade, suficientemente genérico e abrangente para que possa ser aplicado a qualquer tipo de família empresária. This article aims to establish the state of the art of governability in the family business through a literature review. Carrying out an exploratory research strategy of the field of family firms and family business, based on Bourdieu's "theory of practice", it enabled us to better understand the conceptualizations of family business, its underlying concepts and or assumptions, and hence contribute to the construction of organized and structured knowledge in this field. This is a complex and multifaceted theme that aims to balance the sovereign, executive and supervisory powers between the family business and with your own business. Some of our main contributions are: that balance depends on the stages of family development and it involves the structures, processes and policies that shape it, the effect of the relationships of the several members of the family business, and its commitment and involvement in the success of the business in the long-term success. These issues are intended to be included in an integrative model of governability, sufficiently generic and comprehensive so that it can be applied to any type of business family. JEL: D21, D23, G30, L14, L20 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0720/a.php" alt="Hit counter" /></p>

scholarly journals Family Cohesion as a Longevity Factor of Business with Intergenerational Transmission

2014 ◽  
Vol 15 (4) ◽  
pp. 791-819 ◽  
Author(s):  
FCO. Javier Fernández-Roca ◽  
Jesús D. López-Manjón ◽  
Fernando Gutiérrez-Hidalgo
Keyword(s):  
Intergenerational Transmission ◽  
Family Business ◽  
Family Cohesion ◽  
Business History ◽  
Intergenerational Transfer ◽  
Critical Response ◽  
Original Plan ◽  
The Family ◽  
Business Family

This article contributes to a line of research in Business History that aims to determine the factors of family business longevity in the long term with the study of individual cases. The literature has identified family cohesion as one of the essential factors for survival. Cohesion may be reinforced or broken at the time of the intergenerational transfer. This study finds that a critical response on the part of the business family to the difficulties associated with intergenerational transfer of control, including modifications to the original plan, is usually based on trust between generations. Within the business family cohesion facilitates intergenerational transfers and, consequently, allows the family to evolve and transform itself into a business dynasty.

scholarly journals Zero-Leverage Policy: Is the Family Nature of Private Firms Relevant?

2019 ◽  
Vol 11 (7) ◽  
pp. 28
Author(s):  
Oscar Domenichelli
Keyword(s):  
Corporate Governance ◽  
Risk Aversion ◽  
Family Business ◽  
Family Firms ◽  
Private Firm ◽  
Agency Conflicts ◽  
Propensity Analysis ◽  
The Family ◽  
Debt Policy

This work investigates whether being a family business influences a private firm&rsquo;s propensity to be leveraged and the underlying reasons behind such propensity. Analysis focuses on a sample of Italian private family and non-family firms for the period from 2008-2017. Socioemotional and corporate governance considerations cause agency conflicts to be negligible in Italian private family firms, and thus the use of debt is unrelated to these conflicts. Nevertheless, these enterprises are more likely to eschew a zero-debt policy, as opposed to their non-family counterparts. This is due to the socioemotional orientation of Italian private family firms, that is the desire of their family owners to keep long-term control over the business, through the use of leverage, which prevails over risk aversion.

The Landscape of Family Business Outcomes

2011 ◽  
Vol 25 (1) ◽  
pp. 33-57 ◽  
Author(s):  
Andy Yu ◽  
G. T. Lumpkin ◽  
Ritch L. Sorenson ◽  
Keith H. Brigham
Keyword(s):  
Family Business ◽  
Family Dynamics ◽  
Two Dimensions ◽  
Theoretical Development ◽  
Short Term ◽  
Business Outcomes ◽  
Business Studies ◽  
The Family ◽  
Business Family

To promote theoretical development in family business research, this research identified 327 dependent/outcome variables used in 257 empirical family business studies in 1998-2009. In four studies, the authors categorized outcome variables, developed a numerical taxonomy with seven clusters (performance, strategy, social and economic impact, governance, succession, family business roles, and family dynamics) plotted along two dimensions (business–family and short-term–long-term), validated their research, and identified missing outcome variables and variables that deserve more attention. Experts agree that family business roles, succession, and family dynamics make the family business domain unique and that noneconomic performance and family-specific topics deserve more attention.

scholarly journals The Business Family as the Business Model of Our Time

2018 ◽  
Vol 1 (1) ◽  
pp. 60
Author(s):  
James Hoopes
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Values ◽  
Moral Leadership ◽  
Socially Responsible ◽  
Ulterior Motive ◽  
The Family ◽  
The Cost ◽  
Business Family

<p>The information technology has reduced the cost of business transactions large managerial corporations are giving way to small family business firms. It is good change because family businesses could not only aim to sustain the family economically but also could aim nurturing children. The role of ethics in family business is has not been studied systematically. This paper has argued that family firms are more socially responsible that non-family firms because family firms are breeding ground for core family values. This paper also argues that business literature should lay emphasis on virtues and character based business in place of value and culture based business. To manage for organizational virtue and character is to treat ethics as an end in itself. To manage by values and characters is to treat ethics as means for some ulterior motive. If employees are told that they should be honest because it pays then profit may trump in case of a conflict. The combination of family virtues and business can make the family busines as moral model  or moral leadership for all types of business in this era of high demands for accountability.</p>

scholarly journals FAMÍLIA EMPRESÁRIA E SEUS PÚBLICOS / FAMILY BUSINESSES AND ITS AUDIENCES

2021 ◽  
Vol 5 (1) ◽  
Author(s):  
Jorge Rodrigues
Keyword(s):  
State Of The Art ◽  
Research Strategy ◽  
Family Businesses ◽  
The State ◽  
Relative Importance ◽  
Theory Of Practice ◽  
Structured Knowledge ◽  
Business Family ◽  
Family Dimension

<p>O artigo pretende estabelecer o estado da arte na família empresária e seus públicos, contribuindo para a construção de conhecimento organizado e estruturado, para uma compreensão mais aprofundada dos conceitos que lhe estão subjacentes. A estratégia de investigação prosseguida socorreu-se da “teoria da prática” de Bourdieu, significando que no momento da realização de uma pesquisa, a problemática pode ser alterada, a hipótese modificada e as variáveis reconsideradas, fazendo com que a qualquer instante surja uma visão inovadora do que se passa no campo em análise. Como principais resultados aponta-se para um conjunto de dez questões, as quais poderão ser valorizadas, fornecendo a importância relativa da dimensão família empresária e seus públicos, a incluir num modelo integrador de várias dimensões, suficientemente genérico e abrangente, qual mosaico árabe, para que o mesmo possa ser aplicado a qualquer tipo de família empresária. </p><p> </p><p>The article intends to establish the state of the art in the business family and its publics, contributing to the construction of organized and structured knowledge, for a deeper understanding of the concepts that underlie it. The research strategy pursued relied on Bourdieu's "theory of practice", meaning that at the time of a research, the problem can be modified, the modified hypothesis and the variables reconsidered, causing at any moment a vision to emerge of what is happening in the field under analysis. The main results point to a set of ten questions, which can be valued, providing the relative importance of the business family dimension and its public, to include in an integrating model of several dimensions, sufficiently generic and comprehensive, which Arab mosaic, for that it can be applied to any type of business family.</p><p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0736/a.php" alt="Hit counter" /></p>

The Family Firm's Exclusion from Business School Research: Explaining the Void; Addressing the Opportunity

1997 ◽  
Vol 21 (3) ◽  
pp. 55-71 ◽  
Author(s):  
Reginald A. Litz
Keyword(s):  
Family Business ◽  
Business School ◽  
Family Firms ◽  
Interaction Patterns ◽  
Business Research ◽  
Organizational Research ◽  
The Family ◽  
School Research

Why does the vast majority of business school research either ignore, or at best, gloss over the role of family in owning or managing business enterprises? This paper addresses this question and contemplates how the gap might be remedied. It begins by reviewing recent definitional work on the family firm in order to chart the parameters of the family business construct. It then proceeds to describe the nature of, and interaction patterns that have evolved between family firms, privately held corporations, faculties of business, and business school researchers seeking job security offered by tenure. The paper concludes by offering recommendations for addressing the family business research lacuna. The first recommendation focuses on rethinking the grounding assumptions that have undergirded much traditional organizational research. The second suggestion deals with methodological issues and recommends the patient nurture of long-term, mutually beneficial linkages with family firms that might facilitate in-depth longitudinal inquiry.

scholarly journals The Business Family as the Business Model of Our Time

2018 ◽  
Vol 1 (1) ◽  
pp. 60
Author(s):  
James Hoopes
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Values ◽  
Moral Leadership ◽  
Socially Responsible ◽  
Ulterior Motive ◽  
The Family ◽  
The Cost ◽  
Business Family

<p>The information technology has reduced the cost of business transactions large managerial corporations are giving way to small family business firms. It is good change because family businesses could not only aim to sustain the family economically but also could aim nurturing children. The role of ethics in family business is has not been studied systematically. This paper has argued that family firms are more socially responsible that non-family firms because family firms are breeding ground for core family values. This paper also argues that business literature should lay emphasis on virtues and character based business in place of value and culture based business. To manage for organizational virtue and character is to treat ethics as an end in itself. To manage by values and characters is to treat ethics as means for some ulterior motive. If employees are told that they should be honest because it pays then profit may trump in case of a conflict. The combination of family virtues and business can make the family busines as moral model  or moral leadership for all types of business in this era of high demands for accountability.</p>

Making gender visible in family business: past and present

2012 ◽  
Vol 13 (1) ◽  
Author(s):  
Paloma Fernández Pérez ◽  
Eleanor Hamilton
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Business Leadership ◽  
Legal Rules ◽  
Developed Economies ◽  
The Family ◽  
Interdisciplinary Synthesis ◽  
Complex Forms ◽  
Rules Of The Game

This  study  contributes  to  developing  our understanding of gender and family business. It draws on studies from the business history and management literatures and provides an interdisciplinary synthesis. It illuminates the role of women and their participation in the entrepreneurial practices of the family and the business. Leadership is introduced as a concept to examine the roles of women and men in family firms, arguing that concepts used  by  historians or economists like ownership and management have served to make women ‘invisible’, at least in western developed economies in which owners and managers have been historically due to legal rules  of  the  game  men,  and  minoritarily women. Finally, it explores gender relations and  the  notion  that  leadership  in  family business  may  take  complex  forms  crafte within constantly changing relationships.

The effects of goals attainment on CEO-owner satisfaction and the role of family involvement

2019 ◽  
Vol 10 (2) ◽  
pp. 116-127
Author(s):  
Ondřej Machek ◽  
Jiří Hnilica
Keyword(s):  
Family Involvement ◽  
Family Business ◽  
Firm Value ◽  
Family Firms ◽  
Hierarchical Regression ◽  
Content Type ◽  
Business Goals ◽  
Growth Increase ◽  
The Family ◽  
Owner Satisfaction

Purpose The purpose of this paper is to examine how the satisfaction with economic and non-economic goals achievement is related to the overall satisfaction with the business of the CEO-owner, and whether family involvement moderates this relationship. Design/methodology/approach Based on a survey among 323 CEO-owners of family and non-family businesses operating in the Czech Republic, the authors employ the OLS hierarchical regression analysis and test the moderating effects of family involvement on the relationship between the satisfaction with different goals attainment and the overall satisfaction with the business. Findings The main finding is that family and non-family CEO-owner’s satisfaction does not differ significantly when economic goals (profit maximisation, sales growth, increase in market share or firm value) and firm-oriented non-economic goals (satisfaction of employees, corporate reputation) are being achieved; both classes of goals increase the overall satisfaction with the firm and the family involvement does not strengthen this relationship. However, when it comes to external non-economic goals related to the society or environment, there is a significant and positive moderating effect of family involvement. Originality/value The study contributes to the family business literature. First, to date, most of the studies focused on family business goals have been qualitative, thus not allowing for generalisation of findings. Second, there is a lack of evidence on the ways in which family firms integrate their financial and non-financial goals. Third, the authors contribute to the literature on the determinants of personal satisfaction with the business for CEOs, which has been the focus on a relatively scarce number of studies.

scholarly journals Are Family Firms More Levered? An Analysis of Family and Non-Family Firms

SAGE Open ◽  
2021 ◽  
Vol 11 (2) ◽  
pp. 215824402110223
Author(s):  
Jahanzaib Haider ◽  
Abdul Qayyum ◽  
Zalina Zainudin
Keyword(s):  
Family Firms ◽  
East Asian ◽  
Ordinary Least Squares ◽  
Maturity Structure ◽  
The Family ◽  
Asian Economies ◽  
The Board Of Directors ◽  
East Asian Economies ◽  
Combined Data

This study analyzes the leverage policies of the family and non-family firms of eight East Asian Economies (Hong Kong, Indonesia, Japan, Korea, Malaysia, Philippines, Singapore, and Taiwan) by using combined data of 690 family and non-family firms with 3,224 firm–years over the period 2006–2010. This study has used an ordinary least squares (OLS) regression for analyzing the data for the first question, while for the second question, logit regression has been used as the dependent variable (a binary variable). Prior research on family and non-family firms has revealed that family firms issue less (high) debt than non-family firms. Our analysis on a sample of East Asian Economies discloses that family firms have significantly different leverage levels than non-family firms, but their signs are not consistent. On the contrary, when the owner works as CEO/Chairman or member of the Board of Directors, then the family firms issue less debt than the non-family firms. Besides that, this study adds a new question that has not been addressed in the prior studies. The new question has focused on the speed of leverage adjustment. It is found that family firms and non-family firms regarding their debt maturity structure (short-term debt and long-term debt), the speed of leverage adjustments, and their decision to issue securities (i.e., debt vs. equity) are not significantly different. This study concluded that though family firms have a strong influence on each economy, but in South-East Asian countries, leverage policies of the family firms are not much different than that of non-family firms.

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