Group items tagged

"The purpose of this article is to provide an explanation for the contradictory evidence in the literature regarding the performance of family-owned firms. The article suggests that most of the research fails to clearly describe the "family effect" on organizational performance. The "family effect," based on agency theory and the resource-based view of the firm, is described and propositions are generated that examine the relationship between families and organizational performance. Implications for theory and research are also discussed."

"This article provides a review of important trends in the strategic management approach to studying family firms: convergence in definitions, accumulating evidence that family involvement may affect performance, and the emergence of agency theory and the resource-based view of the firm as the leading theoretical perspectives. We conclude by discussing directions for future research and other promising approaches to inform the inquiry concerning family business."

"amily firms that can leverage entrepreneurial experience and knowledge can shape local economic development. Practitioners concerned with fostering enterprise sustainability need to be aware that family firms cite contrasting goals, resource profiles and requirements. Family firms are not a homogeneous entity. The 'targeting' of support to 'types' of family firms could enable practitioners to satisfy their wealth creation and social inclusion objectives. To stimulate increased critical reflection, insights from agency and stewardship theories were drawn upon to illustrate six conceptualized 'types' of private firms based on company ownership and management structures as well as company objectives. Cross-sectional survey evidence was gathered from key informants in family firms in the UK. An agglomerative hierarchical QUICK CLUSTER analysis identified seven empirical 'types' of family firms. Four out of the six conceptualized 'types' were validated by the exploratory empirical taxonomy. Implications for policy-makers and practitioners as well as researchers are discussed."

Good to look at this!!!!