Resilience Behaviors and Temporal Orientation in Family Firms

Abstract

This study explores how the past, present, and future interact in family firms in the context of responses to an external adverse event. Our study reveals that family firms exhibit ambitemporality, the simultaneous accommodation of seemingly contradictory temporal orientations, when invoking three relational-based resilience behaviors: drawing on predecessor’s prior actions, trusting sibling bonds, and leveraging inter-firm and community relationships. Family firms engage in temporal reflexivity in that they recognize the value of specific resilience behaviors and commit to investing in them, building resilience capabilities for the future. Our study highlights the importance of temporal orientations to understanding resilience in family firms and suggests practical implications for family business practitioners.