Bringing family firm history to light: A systematic review of history in family business research (WITHDRAWN)

2021 ◽  
Vol 2021 (1) ◽  
pp. 15000
Author(s):  
Julia Brinkmann ◽  
Jana Boevers
Keyword(s):  
Systematic Review ◽  
Family Business ◽  
Family Firm ◽  
Business Research

Conflict between Controlling Family Owners and Minority Shareholders: Much Ado about Nothing?

2017 ◽  
Vol 41 (6) ◽  
pp. 999-1027 ◽  
Author(s):  
Geoffrey Martin ◽  
Luis R. Gómez–Mejía ◽  
Pascual Berrone ◽  
Marianna Makri
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Agency Problem ◽  
Family Firm ◽  
Business Research ◽  
Minority Shareholders ◽  
Publicly Traded ◽  
Much Ado About Nothing ◽  
Shareholder Proposals ◽  
Unique Nature

We examine the unique nature of conflict between controlling family owners and minority shareholders (principal–principal conflict) in publicly traded family controlled firms through examining shareholder proposals. Implicit in prior governance and family business research has been that nonfamily shareholders are likely to be in conflict with the dominant family owners. In general, we find that much of this fear may be unwarranted except under specific circumstances. Our findings elucidate sources of heterogeneity in family firm principal–principal conflict and add greater nuance to our understanding of this type of agency problem within family firms.

The relationship between socioemotional and financial wealth

2016 ◽  
Vol 14 (3) ◽  
pp. 215-233 ◽  
Author(s):  
Geoffrey Martin ◽  
Luis Gomez-Mejia
Keyword(s):  
Family Business ◽  
Family Firm ◽  
Corporate Diversification ◽  
Business Research ◽  
Strategic Decisions ◽  
Socioemotional Wealth ◽  
Content Type ◽  
The Family ◽  
The Relationship ◽  
Further Development

Purpose A growing volume of family firm literature has argued that the preservation of family socioemotional wealth takes precedence over the pursuit of financial goals. The purpose of this paper is to develop a conceptual framework that builds knowledge regarding the two-way relationship between socioemotional and financial forms of wealth, to develop a more complete theory of wealth concerns that may inform family firm decision-making. Design/methodology/approach The authors conceptually examine contingencies affecting the relationship between financial and socioemotional wealth (in both causal directions). Findings The authors predict when one form of wealth (socioemotional/financial) is likely to dominate the other (financial/socioemotional) in the family firm’s strategic decisions. Originality/value The paper advances knowledge on the two-way relationship between socioemotional and financial forms of wealth providing a platform for further development in the nascent field of family business research, including our understanding of family firm decisions regarding control and influence over the family business, environmental policy, altruism toward family members, R&D, accounting choices and corporate diversification.

scholarly journals Family Firm Heterogeneity and Tax Avoidance: The Role of the Founder

2019 ◽  
Vol 32 (3) ◽  
pp. 296-317 ◽  
Author(s):  
Alexander Brune ◽  
Martin Thomsen ◽  
Christoph Watrin
Keyword(s):  
Family Business ◽  
Loss Aversion ◽  
Family Firms ◽  
Firm Heterogeneity ◽  
Tax Avoidance ◽  
Family Firm ◽  
One Dimension ◽  
Direct Influence ◽  
Business Research

Family business research suggests that the population of family firms cannot be regarded as a homogenous group. Therefore, with respect to tax avoidance, we analyze the role of the founder as one dimension of family firm heterogeneity. Specifically, we consider socioemotional wealth loss aversion and find that founders may affect the level of tax avoidance not only when they have direct influence (i.e., serving as CEO) but also when they possess solely indirect influence (i.e., having substantial ownership or a seat on the board). Overall, our results suggest that founders remain attached to their firms despite giving up executive positions.

scholarly journals Integrating Time Into Family Business Research

2013 ◽  
Vol 27 (1) ◽  
pp. 20-34 ◽  
Author(s):  
Thomas H. Allison ◽  
Aaron Francis McKenny ◽  
Jeremy Collin Short
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Critical Phenomenon ◽  
Family Firm ◽  
Organizational Ambidexterity ◽  
Business Research ◽  
Changes Over Time ◽  
Exploration Versus Exploitation ◽  
Over Time

Organizational ambidexterity refers to a firm’s ability to pursue both exploitation and exploration orientations. Despite research that suggests ambidexterity is a critical phenomenon in family firms, few studies directly examine the role of ambidexterity over time in family business. This study examines how family firm ambidexterity changes over time as a result of temporal-, firm-, and industry-level factors. We find that family firm ambidexterity is stable over time, punctuated by dramatic changes. We also find that the level of innovation required to compete in an industry is a predictor of changes in exploration versus exploitation over time among family firms.

Definitions, Diversity and Development: Key Debates in Family Business Research

2009 ◽  
Author(s):  
Carole Howorth ◽  
Mary Rose ◽  
Eleanor Hamilton
Keyword(s):  
Family Business ◽  
Cultural Context ◽  
Family Firms ◽  
Path Dependency ◽  
Family Firm ◽  
Policy Implications ◽  
Business Research ◽  
The Past ◽  
Definition Of ◽  
Strong Path

This article begins with an examination of definitions of family firms. The debate about what constitutes a family firm is every bit as complex as the definition of an entrepreneur. This article explores the range of definitions but shows that any definition needs to be interpreted in its economic, social, institutional, and cultural context. An explanation for the multiplicity of definitions is provided in in this article, which explores the diversity in scale, scope, organization, and longevity of family firms, and shows differences through time in different societies and between families. The article also demonstrates the strong path dependency of family firm development, with change (or lack of it) underpinned by the foundations of the past. The article further explores research which compares the performance of family firms with non-family firms and this highlights the potential policy implications of family business research.

“We are a family firm”

2018 ◽  
Vol 8 (1) ◽  
pp. 2-21 ◽  
Author(s):  
Claudia Binz Astrachan ◽  
Isabel C. Botero
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Firm ◽  
Business Owners ◽  
Public Companies ◽  
Content Type ◽  
Brand Building ◽  
Depth Interview ◽  
The Family ◽  
Family Associations

Purpose Evidence suggests that some stakeholders perceive family firms as more trustworthy, responsible, and customer-oriented than public companies. To capitalize on these positive perceptions, owning families can use references about their family nature in their organizational branding and marketing efforts. However, not all family firms actively communicate their family business brand. With this in mind, the purpose of this paper is to investigate why family firms decide to promote their “family business brand” in their communication efforts toward different stakeholders. Design/methodology/approach Data for this study were collected using an in-depth interview approach from 11 Swiss and German family business owners. Interviews were transcribed and coded to identify different themes that help explain the different motives and constraints that drive their decisions to promote the “family business brand.” Findings The analyses indicate that promoting family associations in branding efforts is driven by both identity-related (i.e. pride, identification) and outcome-related (e.g. reputational advantages) motives. However, there are several constraints that may negatively affect the promotion of the family business brand in corporate communication efforts. Originality/value This paper is one of the first to explore why family businesses decide to communicate their “family business brand.” Building on the findings, the authors present a conceptual framework identifying the antecedents and possible consequences of promoting a family firm brand. This framework can help researchers and practitioners better understand how the family business nature of the brand can influence decisions about the company’s branding and marketing practices.

Advancing the Field of Family Business Research: Further Testing the Measurement Properties of the F-PEC

2009 ◽  
Vol 23 (1) ◽  
pp. 76-88 ◽  
Author(s):  
Daniel T. Holt ◽  
Matthew W. Rutherford ◽  
Donald F. Kuratko
Keyword(s):  
Family Business ◽  
Convergent Validity ◽  
Initial Level ◽  
Factor Model ◽  
Family Influence ◽  
Measurement Properties ◽  
Business Research ◽  
Validity And Reliability ◽  
Scale Data ◽  
Three Factor

The field of family business research is advanced by further examining the validity and reliability of Klein, Astrachan, and Smyrnios’s Family Influence on Power, Experience, and Culture Scale. Data from 831 family businesses are analyzed to assess the measure’s construct validity using exploratory and confirmatory techniques. The hypothesized three-factor model emerged to include culture, power, and experience. Extending the previous effort, the measure’s convergent validity was tested by assessing differences between the measure’s scores and the desires of the senior generation and the commitment of the next generation. Results support an initial level of convergent validity.

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