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Legacy in Family Business: A Systematic Literature Review and Future Research Agenda 家族企业的传承：系统文献综述与未来研究议程
IF 8.8 1区 管理学
Family Business Review Pub Date : 2024-02-23 DOI: 10.1177/08944865231224506
Miruna Radu-Lefebvre, James H. Davis, William B. Gartner
{"title":"Legacy in Family Business: A Systematic Literature Review and Future Research Agenda","authors":"Miruna Radu-Lefebvre, James H. Davis, William B. Gartner","doi":"10.1177/08944865231224506","DOIUrl":"https://doi.org/10.1177/08944865231224506","url":null,"abstract":"This article maps and integrates research on legacy in family business using a sample of 140 articles. After describing the process of arriving at a corpus of legacy articles, we propose a systematic literature review that summarizes current literature based on five overarching questions: (a) What is legacy? (b) Who sends and receives legacy? (c) Why is legacy sent and accepted/rejected? (d) How is legacy sent and received? and (e) In which contexts? Based on this review, we identify gaps in the literature and suggest theoretical perspectives and research questions to guide future research on legacy in family business.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"17 1","pages":""},"PeriodicalIF":8.8,"publicationDate":"2024-02-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139938930","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Legal Advisors and Family Business Owners: A Transaction Cost Understanding of “the Ownership Contract” 法律顾问与家族企业所有者：对 "所有权合同 "的交易成本理解
IF 8.8 1区 管理学
Family Business Review Pub Date : 2023-12-29 DOI: 10.1177/08944865231217882
Kajsa Haag, Hanna Almlöf, Marina B. Madsen, Mette Neville
{"title":"Legal Advisors and Family Business Owners: A Transaction Cost Understanding of “the Ownership Contract”","authors":"Kajsa Haag, Hanna Almlöf, Marina B. Madsen, Mette Neville","doi":"10.1177/08944865231217882","DOIUrl":"https://doi.org/10.1177/08944865231217882","url":null,"abstract":"Family business owners are dependent on legal advice to control ownership changes and uphold a functional balance between owners. This advice spans both family law and business law. However, family business owners are found to underutilize the legal instruments available, especially for small- and medium-sized enterprises. We explore the market for legal advice provided to family business owners. Our findings describe specific ownership costs that decrease owners’ willingness and ability to contract. This avoidance of ex ante costs puts the owners at risk of extensive ex post costs that could ultimately jeopardize the business.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":" 8","pages":""},"PeriodicalIF":8.8,"publicationDate":"2023-12-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139142873","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Restructuring of Poorly Performing Family-Owned Portfolio Firms: The Role of Socioemotional Wealth 业绩不佳的家族企业的重组：社会情感财富的作用
IF 8.8 1区 管理学
Family Business Review Pub Date : 2023-11-29 DOI: 10.1177/08944865231210901
Marina D. Palm, Vanessa Diaz-Moriana, Nadine H. Kammerlander
{"title":"Restructuring of Poorly Performing Family-Owned Portfolio Firms: The Role of Socioemotional Wealth","authors":"Marina D. Palm, Vanessa Diaz-Moriana, Nadine H. Kammerlander","doi":"10.1177/08944865231210901","DOIUrl":"https://doi.org/10.1177/08944865231210901","url":null,"abstract":"How do owners of family firm portfolios restructure poorly performing firms? To answer this question, we conducted an in-depth qualitative case-study analysis of six poorly performing family portfolio firms, on the basis of 39 interviews, 117 pieces of archival data, and observations we gathered over 2 years. Drawing upon the socioemotional wealth (SEW) perspective and escalation-of-commitment literature, we suggest that family firm owners initially show refraining behaviors toward restructuring their poorly performing portfolio firms. Subsequently, they exhibit escalating behaviors by first investing and then reshuffling assets, to safeguard firm-level SEW. Yet, when retaining these poorly performing firms threatens the existence of the remaining portfolio and, thus, portfolio-level SEW, family firm owners exhibit de-escalating behaviors by divesting. Preferably, they attempt a sale and, when a sale is no longer an option, a liquidation. We developed a model that contributes to a more granular theoretical understanding of the family firm’s restructuring behavior, in the context of portfolio entrepreneurship.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"66 1","pages":""},"PeriodicalIF":8.8,"publicationDate":"2023-11-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"139213050","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Family Firms’ Shareholder Structure and International Acquisitions: A Differentiated Socioemotional Wealth Approach 家族企业股东结构与跨国收购:一种差异化的社会情感财富研究方法
1区 管理学
Family Business Review Pub Date : 2023-10-30 DOI: 10.1177/08944865231205847
Andrea Calabrò, Mariateresa Torchia, Fabio Quarato, Alfredo Valentino, Domenico Rocco Cambrea, Fynn-Willem Lohe
{"title":"Family Firms’ Shareholder Structure and International Acquisitions: A Differentiated Socioemotional Wealth Approach","authors":"Andrea Calabrò, Mariateresa Torchia, Fabio Quarato, Alfredo Valentino, Domenico Rocco Cambrea, Fynn-Willem Lohe","doi":"10.1177/08944865231205847","DOIUrl":"https://doi.org/10.1177/08944865231205847","url":null,"abstract":"From a mixed gamble perspective, we contend that family firms (FFs) with different family shareholder structures are confronted with different trade-offs among current and prospective financial and socioemotional wealth (SEW), leading to differences in their international acquisition choices. We also explore the moderating role of family leadership and performance aspirations. Our findings show that FFs with a dominant family owner are more likely to pursue international acquisitions, especially when FFs are led by a family CEO or when they experience below-target performance, as in such cases, they prioritize prospective financial and SEW gains, thereby sacrificing current SEW and financial wealth.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"241 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-30","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136102474","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Uncertainty around Transgenerational Control: Implications for Innovation Prior to Succession 跨代控制的不确定性:对继承前创新的影响
1区 管理学
Family Business Review Pub Date : 2023-10-23 DOI: 10.1177/08944865231203047
Thomas Dorsch, Peter Jaskiewicz, James G. Combs, Torsten Wulf
{"title":"Uncertainty around Transgenerational Control: Implications for Innovation Prior to Succession","authors":"Thomas Dorsch, Peter Jaskiewicz, James G. Combs, Torsten Wulf","doi":"10.1177/08944865231203047","DOIUrl":"https://doi.org/10.1177/08944865231203047","url":null,"abstract":"The transgenerational entrepreneurship perspective suggests senior-generation leaders with transgenerational control intentions (TCI) innovate to position the next generation for success, but many family firms fail to do so. We introduce transgenerational control uncertainty (TCU) as a theoretical mechanism explaining when TCI enhances innovation behaviors pre-succession. A multi-respondent, multi-time period survey of private German family firms shows that while TCI helps unleash innovation prior to succession, these effects also depend on lowering TCU as reflected in progress through the succession process. Our study suggests TCU might be a useful new construct for explaining other important differences among family firms.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"26 8","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-23","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"135413440","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Rural and Urban Family Business Portfolio Growth: The Role of Entrepreneurial Legacy 城乡家族企业投资组合增长:创业遗产的作用
1区 管理学
Family Business Review Pub Date : 2023-10-11 DOI: 10.1177/08944865231199791
Philipp Sieger, Naveed Akhter, Francesco Chirico
{"title":"Rural and Urban Family Business Portfolio Growth: The Role of Entrepreneurial Legacy","authors":"Philipp Sieger, Naveed Akhter, Francesco Chirico","doi":"10.1177/08944865231199791","DOIUrl":"https://doi.org/10.1177/08944865231199791","url":null,"abstract":"Applying an inductive case study approach, we analyze four Pakistani family business portfolios and reveal that rural-based family business portfolios tend to grow internally (organically) and through related diversification. In contrast, urban-based portfolios rather grow externally through acquisitions and partnerships and pursue unrelated diversification. The family’s entrepreneurial legacy and how it is transferred to members of the next generation through grooming and imprinting in rural versus urban contexts emerge as a key underlying mechanism.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"16 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-10-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"136212014","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Country Differences in Family Firm Reputation: An Exploration in Germany, India, and the United States 家族企业声誉的国家差异：德国、印度和美国的探索
IF 8.8 1区 管理学
Family Business Review Pub Date : 2023-08-11 DOI: 10.1177/08944865231192339
Philipp Jaufenthaler, Oliver Koll, Maximilian Lude, Reinhard Prügl
{"title":"Country Differences in Family Firm Reputation: An Exploration in Germany, India, and the United States","authors":"Philipp Jaufenthaler, Oliver Koll, Maximilian Lude, Reinhard Prügl","doi":"10.1177/08944865231192339","DOIUrl":"https://doi.org/10.1177/08944865231192339","url":null,"abstract":"While most studies on family firm branding report positive reputational consequences, we lack empirical evidence to which degree these benefits vary across different geographical contexts. This study explores associations elicited by the term family business in Germany, India, and the United States and discusses reasons for the varying differentiation power of the family firm signal. Our large-scale association study ( n = 1,383) reveals that prototypical family firm perceptions are prevalent in the United States and Germany, but less in India. Through qualitative insights and an experimental study, we investigate why the power of the family firm signal to enhance reputation varies across countries.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"1 1","pages":""},"PeriodicalIF":8.8,"publicationDate":"2023-08-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42610768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Implications of Mental Health for Business Families and Family Businesses: Toward a Holistic Research Agenda 心理健康对企业家庭和家族企业的影响:迈向整体研究议程
IF 8.8 1区 管理学
Family Business Review Pub Date : 2023-07-29 DOI: 10.1177/08944865231185799
E. Tetzlaff, Peter Jaskiewicz, Johan Wiklund
{"title":"Implications of Mental Health for Business Families and Family Businesses: Toward a Holistic Research Agenda","authors":"E. Tetzlaff, Peter Jaskiewicz, Johan Wiklund","doi":"10.1177/08944865231185799","DOIUrl":"https://doi.org/10.1177/08944865231185799","url":null,"abstract":", family responses to a family","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"36 1","pages":"284 - 295"},"PeriodicalIF":8.8,"publicationDate":"2023-07-29","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48313837","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
Sacralization and the Intergenerational Transmission of Values in Cadbury 《吉百利》中的神圣化与价值观的代际传递
IF 8.8 1区 管理学
Family Business Review Pub Date : 2023-07-27 DOI: 10.1177/08944865231188788
R. Suddaby, W. Ng, Natalia Vershinina, G. Markman, Matthew J. Cadbury
{"title":"Sacralization and the Intergenerational Transmission of Values in Cadbury","authors":"R. Suddaby, W. Ng, Natalia Vershinina, G. Markman, Matthew J. Cadbury","doi":"10.1177/08944865231188788","DOIUrl":"https://doi.org/10.1177/08944865231188788","url":null,"abstract":"How do family values endure decades after an enterprise is no longer a family business? Addressing this question has been a challenge in social theory, and it is an issue of particular concern for family businesses where firm and family values are often indistinguishable. We analyze the transmission of family, organizational, and religious values across generations in Cadbury, a multinational confectionary company founded in England in 1824. We identify sacralization as a central process that explains Cadbury’s success in transferring values across time and different organizational structures. We describe how sacralization is driven by moralization, communion, and syncretism.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"36 1","pages":"296 - 314"},"PeriodicalIF":8.8,"publicationDate":"2023-07-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45776124","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
The Impact of Nonfamily CEOs on Family Firms’ Pursuit of Political Connections: The Theory of Bounded Reliability Perspective 非家族ceo对家族企业政治关系追求的影响:有限可靠性理论视角
IF 8.8 1区 管理学
Family Business Review Pub Date : 2023-07-05 DOI: 10.1177/08944865231182194
Yang Yu, T. Bai, Fei Tang, Y. Liu
{"title":"The Impact of Nonfamily CEOs on Family Firms’ Pursuit of Political Connections: The Theory of Bounded Reliability Perspective","authors":"Yang Yu, T. Bai, Fei Tang, Y. Liu","doi":"10.1177/08944865231182194","DOIUrl":"https://doi.org/10.1177/08944865231182194","url":null,"abstract":"This study investigates the effect of nonfamily chief executive officers (CEOs) on family firms’ propensity to form political connections. We combine research on corporate political activity and family business and draw from the bounded reliability theory to analyze how the presence of a nonfamily CEO is related to the hiring of politically connected managers and board members. We further examine how our base hypothesis is contingent upon the organizational and environmental factors influencing nonfamily CEOs’ bounded reliability. Using the data from publicly listed Chinese family firms, support for our model was found. The study advances the understanding of family firms’ political activity.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"36 1","pages":"315 - 346"},"PeriodicalIF":8.8,"publicationDate":"2023-07-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47026461","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
引用次数: 0
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