scholarly journals The impact of F-PEC scale and strategic planning in the family business

Accounting ◽  
2018 ◽  
pp. 11-20 ◽  
Author(s):  
Nazanin Haji Mirza Hossein Yazdi
Keyword(s):  
Strategic Planning ◽  
Family Business ◽  
The Family ◽  
The Impact

Social identity and family business: exploring family social capital

2015 ◽  
Vol 5 (2) ◽  
pp. 157-181 ◽  
Author(s):  
Torsten Schmidts ◽  
Deborah Shepherd
Keyword(s):  
Social Capital ◽  
Social Identity ◽  
Family Business ◽  
Social Identity Theory ◽  
Identity Theory ◽  
Family Members ◽  
Content Type ◽  
Family Social Capital ◽  
The Family ◽  
The Impact

Purpose – The purpose of this paper is to use social identity theory to explore factors that contribute to the development of family social capital. Effects are investigated both for the family and the business. Design/methodology/approach – A single in-depth case study focussing on the family unit was coducted within a fourth-generation family business involved in the arts retailing. Findings – The findings suggest that social identity theory is a useful lens to explore the development of family social capital. The six themes identified highlight that there is a normative and an affective dimension, leading to family members’ desire to uphold the status of the business. Evidence suggests that the normative factors may be both positively and negatively related to the development of family social capital, due to their potentially restrictive nature. Originality/value – The paper’s findings imply that social identity can contribute to understanding family dynamics. Evidence highlights various factors for family members that are not involved in the family business to uphold its status. This is attributed to the emotional significance of the business to the family’s identity. Furthermore, this paper suggests that the strong focus on norms and values, which developed gradually, may have adverse effects on the identification with the business and the willingness to uphold its status. Propositions are offered to provide guidance for future research to investigate this controversial evidence regarding the impact of value orientation on family social capital.

scholarly journals The Impact of Owner Gender in Family Businesses in Indonesia Liliana Dewi, Kazia Laturette, and I Gusti Bagus Yos

2021 ◽  
Author(s):  
Liliana Dewi ◽  
Kazia Laturette ◽  
I Gusti Bagus Yosia Wiryakusuma
Keyword(s):  
Family Business ◽  
First Generation ◽  
Future Generations ◽  
Early Age ◽  
Next Generation ◽  
Female Leaders ◽  
The Family ◽  
Long Time ◽  
The Impact

There are differences in the way people perceive the role of women and men in business. The purpose of this study was to analyze the influence of male or female leaders on two business families in Indonesia. The success of the family company cannot be separated from the role of the first generation in trusting future generations to continue their family business. A qualitative approach was used, where the data were collected through interviews with two family companies with different generations of successors. One family company has a female successor generation and another family company has a male successor. The findings showed that the first generation trusted from an early age and involved the second generation in the family business, whether their children were girls or boys. In fact, all succeeded in taking over the baton of leadership. An interesting finding is that even though the next generation is female and handles welding, which is more commonly done by men, thanks to the trust given by their parents, this next generation would be more masculine in order to gain legitimacy from employees who have worked for a long time in the company. This is as good as the next generation of men in other family companies. Keywords: family business, gender, first-generation roles, succession of success

Strong governance: a result of evolutionary and revolutionary processes

2014 ◽  
Vol 4 (2) ◽  
pp. 99-109 ◽  
Author(s):  
Lorna Collins ◽  
Ken McCracken ◽  
Barbara Murray ◽  
Martin Stepek
Keyword(s):  
Family Business ◽  
Best Practice ◽  
Family Dynamics ◽  
Family Businesses ◽  
Formal Structure ◽  
Governance Mechanisms ◽  
Content Type ◽  
The Family ◽  
The Uk ◽  
The Impact

Purpose – This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The world of family business is, like many other arenas, constantly evolving and as the authors learn more about how and why families “do business” the approaches and tools for working with them also evolve. The purpose of this paper is to stimulate further new research in areas that practically affect family businesses and to “open the door” to practical insights that will excite researchers and provide impetus for new and exciting study. The specific purpose of this paper is to explore “what is strong governance.” There has been much interest in governance lately yet there is a tendency to treat governance in a formulaic way such that, at the moment, the notion that every family business must have a family council or a formal structure in order to be considered “effective” and “successful” predominates. The authors’ panel challenges and discusses this notion drawing on the experience and knowledge as family business advisors, consultants and owners. Design/methodology/approach – The impetus for this particular conversation is a result of a brainstorming conversation that Lorna Collins and Barbara Murray held in February 2014 where they focussed on “how JFBM can encourage and stimulate researchers to engage in aspects of research that makes a difference to the family business in a practical way.” This paper reports a conversation between Barbara Murray (Barbara), Ken McCracken (Ken) and Martin Stepek (Martin), three leading lights in the UK family business advising space, all of whom have been involved in running or advising family businesses for more than three decades, held in August 2015. The conversation was held via telephone and lasted just over 60 minutes. Lorna Collins acted as moderator. Findings – Strong governance is not just about instituting a “family council” or embedding formal governance mechanisms in a family business. Evolutionary adaption by family members usually prevails such that any mechanism is changed and adapted over time to suit and fit the needs of the family business. Many successful family businesses do not have recognized “formal” governance mechanisms but, it is contended, they are still highly successful and effective. Future areas of research in governance are also suggested. Originality/value – This paper contributes to the family business discourse because the debate it reports challenges the basic assumptions upon which much consulting and advisory practice is conducted. It also challenges the notion of “best practice” and what is “new best practice” and how is it that any “best practice” is determined to be “best.” Furthermore, the panel provides insights in to the “impact of family dynamics on governance” and “the impact of family dynamics on advisors.” The paper content is original in that it provides an authentic and timely narrative between active family business practitioners who are also scholars and owners.

The F–PEC Scale of Family Influence: Construction, Validation, and Further Implication for Theory

2005 ◽  
Vol 29 (3) ◽  
pp. 321-339 ◽  
Author(s):  
Sabine B. Klein ◽  
Joseph H. Astrachan ◽  
Kosmas X. Smyrnios
Keyword(s):  
Competitive Advantage ◽  
Family Business ◽  
Theory Development ◽  
Three Dimensions ◽  
Family Influence ◽  
Factor Analytic ◽  
Confirmatory Factor ◽  
The Family ◽  
The Impact

For a solution to the family business definition dilemma, we propose the application of a scale that assesses the extent and the quality of family influence via the measurement of three dimensions: Power, Experience, and Culture. The Family Influence on Power, Experience, and Culture (F–PEC) scale is tested rigorously, utilizing a sample of more than 1,000 randomly selected companies, through the application of exploratory and confirmatory factor analytic techniques. The scale demonstrates high levels of reliability. F–PEC has been applied in a number of studies, contributing to theory development, particularly in terms of the impact of family influence on distinct resources, and as a source of competitive advantage.

The Family Factor: The Impact of Family Relationship Dynamics on Business-Owning Families during Transitions

1999 ◽  
Vol 12 (1) ◽  
pp. 41-57 ◽  
Author(s):  
Barbara Dunn
Keyword(s):  
Family Business ◽  
Family Relationship ◽  
Business Systems ◽  
Relationship Dynamics ◽  
Doctoral Research ◽  
Family Factor ◽  
The Family ◽  
The Impact ◽  
Succession Processes ◽  
Longitudinal Case Studies

This paper presents preliminary findings from three longitudinal case studies forming part of ongoing doctoral research into the activities and dynamics of business-owning families as they address the tasks and issues required during their succession processes. Specifically, the paper qualitatively explores the nature, characteristics, and effects of family relationship dynamics in three family business systems undertaking the transfer of controlling ownership to the next generation (from father to son). A model is presented to describe the sources of anxiety “imperatives” and their management during transition processes. Conclusions are drawn about the characteristics of emotional dynamics in business-owning families and how these can, over time, hinder or help families manage these tasks.

scholarly journals An Investigation Of Family Culture In Family Firms’ Performance In Retailer-Vendor Strategic Partnerships

2021 ◽  
Author(s):  
Leonardo Amado Godoy
Keyword(s):  
Family Business ◽  
Positive Relationship ◽  
Family Firms ◽  
Strategic Partnerships ◽  
Family Culture ◽  
The Family ◽  
Relationship Value ◽  
And Performance ◽  
The Impact ◽  
Group Family

This research proposes a model to measure the effect of family culture on firm performance in family business retailer-vendor strategic partnerships. Prior research that has contributed to the development of the discourse on family culture, organizational culture, family and relationship value, commitment, and trust will be analyzed. Eight hypotheses are presented, four of which are an extension of prior research. The model ratifies a positive relationship between family culture and performance, especially when considering the successor generation. Since the founders of the firm are the personification of the family culture itself, for this group, family culture does not positively influence performance. The outcome of this research will illustrate not only the effects of family culture in family firms’ performance, but also the impact of relationship and behavioral factors in business.

Entrepreneurial behavior of family firms in the Indian community: adoption of a technology platform as a moderator

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sheshadri Chatterjee ◽  
Ranjan Chaudhuri ◽  
Demetris Vrontis
Keyword(s):  
Strategic Planning ◽  
Family Business ◽  
Family Firms ◽  
Business Community ◽  
Entrepreneurial Behavior ◽  
Content Type ◽  
Technology Platform ◽  
Indian Family ◽  
The Family ◽  
Digital Entrepreneurship

Purpose This study aims to investigate the generalizability of Daniela Weismeier-Sammer’s (2011) replication study on entrepreneurial behavior and extended the model by considering the adoption of a technology platform as a moderator in the Indian family entrepreneurship community. Design/methodology/approach The earlier replication study was conducted in Austria, and this one has been conducted in India with 372 respondents of Indian family firms. The study has used the structural equation modeling technique for analysis purposes. The study has also used multi-group analysis for understanding the moderator impact. Findings Willingness to change, generational involvement, perceived technological opportunities and corporate entrepreneurship for the Indian family business community, along with strategic planning, as a moderating factor, formed the earlier model. In the context of strategic planning, this study observes a similarity, but due to the consideration of the additional moderator, the role of generational involvement has become insignificant. Research limitations/implications This study adds value to the overall body of literature on the family business community, digital entrepreneurship and technology adoption in the family business community. The study provides valuable inputs on the digital entrepreneurship and family business firms which could be used by entrepreneurs, policymakers and practitioners for different purposes. The sample size is small and India specific so the proposed model cannot be generalizable. Originality/value This study has used replication and validation techniques in the digital entrepreneurship community and new venture creation in the Indian context. Very few studies have explored the digital entrepreneurship phenomenon in the Indian family business community context. Also, the use of adoption of technology platform as a moderator enhances the model from the earlier study. Thus, this study is deemed to be a unique research study.

scholarly journals The impact of intra-group processes on family business success

2011 ◽  
Vol 14 (1) ◽  
pp. 8-23
Author(s):  
Shelley Farrington ◽  
Christo Boshoff ◽  
Elmarie Venter
Keyword(s):  
Family Business ◽  
Group Processes ◽  
Primary Objective ◽  
Family Businesses ◽  
Sibling Relationship ◽  
Psychological Climate ◽  
Business Success ◽  
Snowball Sampling ◽  
The Family ◽  
The Impact

Interpersonal ties and intra-group processes influence the ability of people to work together effectively as teams. In the context of the family business team, intra-group processes describe the interaction that takes place between the family members and the resultant psychological climate that exists in the family business. Given the increasing number of sibling teams among family businesses, as well as the challenges they face as team members, this study focuses on sibling teams in family businesses and the intra-group processes that influence their success. Consequently, the primary objective of this study is to identify and empirically test the intra-group processes influencing the effectiveness of sibling partnerships. A structured questionnaire was distributed to 1323 sibling partner respondents. The respondents were identified by means of a convenience snowball sampling technique, and the data were collected from 371 usable questionnaires. The empirical findings of this study show that the sibling relationship and fairness are important determinants of sibling team effectiveness.

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