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1
Tobak, Júlia. "Ownership Structures within Hungarian Family Businesses – Theories and Practice." Applied Studies in Agribusiness and Commerce 12, no. 1-2 (May 2, 2018): 35–40. http://dx.doi.org/10.19041/apstract/2018/1-2/5.
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We can talk about family business if the notions of family, ownership and business are closely connected to each other, namely if the business is in the possession of the family, managed and controlled by the family members. A family owned company is a business where a family has the majority ownership and/or the majority management and at least one family member actively works in the firm, the family owns the business. The study contains the results of research on ownership structure of family owned businesses. The examined family businesses are interested in longterm preservation of values, thus succession of generations plays a key role in their case. They attaches great importance how the ownership structure develops. The methotology to know more about the ownership structure of family businesses 11 expert interviews were made between november 2016 and september 2017 with owners and next generations of family owned agri-food enterprises in Hungary. A case study has been prepared too in this topic with the participation of companies with different activities (production, service, trade). In order to classify the analysed companies six categories of ownership were developed. These are non-owner, emotional owner, partial owner, controlling owner, majority owner and exclusive/ sole owner. Each generation of the analysed FBs were classified to these categories. According to the results the analysed family owned companies even are sharing the property within family. There are only two interviewed companies whose case we can talk about exclusive/sole ownership.
JEL Classification: G32
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Mahomed, Yaaser, and Vuyokazi Mtembu. "Business Succession in Indian Family Businesses in South Africa." Journal of Economics and Behavioral Studies 13, no. 3(J) (July 9, 2021): 73–80. http://dx.doi.org/10.22610/jebs.v13i3(j).3182.
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Family businesses play a pivotal role economically and socially in most countries. The study aimed to identify and understand the experiences of Indian family businesses in South Africa with regard to business succession. A quantitative research approach was used with data collected through Google forms online survey. Data was collected from sixty (60) business people from Indian-owned family businesses in South Africa. The study interrogated the following factors which have an influence on family business succession: business ownership influence in succession, business readiness for the exit of owner and succession, the role of the owner after exit from business and selection criteria of the right successor. Findings revealed that the majority of families (86.27%) said it is important to have a hundred percent or full ownership of the business and that a successor should be selected within the family from their bloodline. Findings also revealed that the majority of businesses (86.27%) were not fully ready for the exit of the owner or current leader of the business and that on the exit of the owner; a majority (90.2%) of businesses will prefer to have the owner playing an active advisory role in the business. It is recommended that family-owned businesses should plan for succession on time and draft a well-planned strategic succession plan for the business. It is also recommended that an objective criterion be used in selecting a successor who will take the business forward. Healthy business continuity should be the ultimate goal of succession and families should not sacrifice successful business continuity because of their, internal differences and conflict, culture, blood relations, gender or religion.
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Rowe, Barbara R., George W. Haynes, and Marion T. Bentley. "Economic Outcomes in Family-Owned Home-Based Businesses." Family Business Review 6, no. 4 (December 1993): 383–96. http://dx.doi.org/10.1111/j.1741-6248.1993.00383.x.
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This study explored the financial success of 620 family-owned home businesses. Characteristics of the home business owner, of the business, and of the owner's managerial practices both within and outside the business arena were systematically evaluated. Personal and family characteristics of the owner-operator were more powerful variables in explaining the amount of income generated by the business than were dimensions of the business, although both categories played significant roles.
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Akume, Ben, and Osarumwense Iguisi. "Developing capabilities for sustainability in family owned SMEs: An emerging market scenario." International Journal of Research in Business and Social Science (2147- 4478) 9, no. 6 (October 26, 2020): 24–36. http://dx.doi.org/10.20525/ijrbs.v9i6.840.
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The academic discourse on ‘family’ perpetuity in family-owned businesses (FOB) is still burgeoning. Current findings suggest the importance of family control and family inter-generational sustainability in family-owned businesses. Though literature in family perpetuity and sustainability is well documented from the advanced economies, there is a scarcity of insights from emerging markets where this research relates. The study, therefore, sought to investigate, understand and interpret the underlying drivers of sustainability in small and medium family businesses using the stewardship theory paradigm and relying on evidence from an emerging market economy the Nigerian family business environment. A qualitative method with 41 in-depth interviews involving owners and managers of family-owned small and medium businesses was conducted. The study empirically shows that there is an interrelationship between family structure and business sustainability, hence the practice of polygamy was found to be inimical to family business success and sustainability. The study also showed that the element of spirituality arising from the ideals and values of the owning family is a significant factor for ensuring family wellbeing and business sustainability, and founding owner characteristics (industry experience) and impacts positively on the business performance and continuity. The study confirmed that the stewardship of non-family member employees within the business is provisional stewardship as non-family members rely on other incentives from the owning family members to behave as stewards. Building on the stewardship theory, the paper develops a model of sustainability for small and medium family businesses. The study contributes to the theoretical literature on stewardship and family business sustainability
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Heck, Ramona K. Z., and Rosemary Walker. "Family-Owned Home Businesses: Their Employees and Unpaid Helpers." Family Business Review 6, no. 4 (December 1993): 397–415. http://dx.doi.org/10.1111/j.1741-6248.1993.00397.x.
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Family-owned home-based businesses traditionally utilize a workforce of paid workers, contracting workers, and unpaid helpers. Each type of worker may be categorized as family, related, or unrelated. The research reported here shows that not all worker types increase business outputs. Family workers, family helpers, and unrelated workers contribute in positive ways to business outputs. In contrast, unpaid related helpers decrease net income, and contracting related workers increase the work hours of the business owner.
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Distelberg, Brian John, and Thomas V. Schwarz. "Mentoring Across Family-Owned Businesses." Family Business Review 28, no. 3 (November 21, 2013): 193–210. http://dx.doi.org/10.1177/0894486513511327.
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Nearly three decades of research on mentoring has offered empirically supported processes in developing a mentoring relationship. Yet the application of mentoring within family businesses has received little exploration. Since much of the current mentoring literature is focused on general workplace mentoring, it is not clear how the multidimensional and interdependent systems within family businesses might complicate the translation of the existing literature to family business populations. This study examines interorganizational family business mentoring relationships to determine whether there are any issues which differentiate it from the existing mentoring research findings.
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Gupta, Nakul, Radha R. Sharma, and Rupali Pardasani. "FragraAroma – accord in business, concord in family." Emerald Emerging Markets Case Studies 3, no. 7 (November 18, 2013): 1–11. http://dx.doi.org/10.1108/eemcs-06-2013-0085.
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Subject area Entrepreneurship, internationalization, family-owned business management, strategic management. Study level/applicability MBA/postgraduate management program courses on family business management. The case can be taught at the beginning of the course to acquaint students with the dynamics of family-owned businesses. MBA/postgraduate/undergraduate courses on entrepreneurship. It can be used in the middle of the course to highlight the challenges presented by an entrepreneur due to change in the business environment and macroeconomic scenario. MBA/postgraduate course on strategic management. It can be used at the beginning of the course to introduce strategies for managing and sustaining growth of a business. MBA/postgraduate course on organizational development. It can be used in the middle of the course to help students understand the importance of designing an optimal organizational structure for a family business. Case overview FragraAroma was an Indian fragrance company. Anil Gupta, the Founder and Managing Director of FragraAroma, and his sister Nisha were equal shareholders of the company. With changes in the Foreign Direct Investment Policy in 2013 in India, Anil and Nisha's husband Tarun had different expansion plans for FragraAroma. While Anil was planning to expand FragraAroma internationally, but his sister and her husband wanted diversification of the company's customer segment in the domestic market itself. The case is poised at the juncture, where Anil was facing a labyrinth of critical decisions. Would he go ahead with Tarun's expansion plan or stick to his plan of internationalization? Would his decision affect the harmony of the family? Was there a way that could enable him sailing his family and family business out of the doldrums? Expected learning outcomes This case is primarily about a family business and the dilemmas faced by the owner of that family business. The case captures the challenges faced by a family business in sustaining growth and competitiveness. The case can be used to understand how decisions are taken in a family-owned business. To understand the challenges faced by a family-owned business while developing and implementing its growth strategies. To understand the opportunities and challenges presented to a family-owned businesses when macroeconomic scenarios change. To understand the spillover effects of business decisions on family relations in a typical family-owned business setup. Supplementary materials Teaching notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes.
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Sultan, Suhail, André de Waal, and Robert Goedegebuure. "Analyzing organizational performance of family and non-family businesses using the HPO framework." Journal of Family Business Management 7, no. 3 (October 9, 2017): 242–55. http://dx.doi.org/10.1108/jfbm-07-2017-0021.
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Purpose Many businesses in the world are family-owned. A family-owned business differs from other types of businesses in several ways, because it is composed of both a family and a business. A recurring question in management research has been: which type of business performs better, the family-owned or the non-family owned? An alternative question which in this respect can also be asked, in the light of the high-performance organization (HPO) theory which has become popular these past years, is: which type of business is more likely to become and stay high performing, the family-owned or the non-family owned? To try to answer these questions, many studies have been done in which the performance of family firms was compared with firms that have no family ties, but these studies gave mixed results and conflicting opinions. The paper aims to discuss these issues. Design/methodology/approach It seems evident that a new research approach is needed. A way forward is to use the HPO concept which looks at the factors important for an organization to become an HPO. Thus, the research question which this study attempts to answer is: are there differences in performance between family and non-family businesses, and if so, can these be traced back to differences in the way these businesses deal with the factors of high performance? The research used the HPO questionnaire and interviews to collect data at Palestine family and non-family owned businesses. Findings The research shows that Palestine non-family businesses significantly outperform family-owned businesses. Family businesses thus seem “a living paradox.” Balancing family interest and business interest often requires a compromise between family and business goals. It seems that Palestinian family businesses focus more on family interest by putting the goal of survival and “keeping the business in the family” above (short-term) financial goals. Family businesses might also feel more that the company’s money is the family money, and as a result their investment and expenses strategies are more conservative thus missing possible economic investment opportunities. Research limitations/implications The study results add to the current debate in the literature about which type of business performs better, and at the same time they add knowledge because if there are differences these might be explained by the factors of high performance. In this vein, the study results also contribute to the literature on high performance, as the HPO framework has not been used before for this type of comparative research. Originality/value The study results have practical value because they yield knowledge about the ways to organize a business so it can achieve high organizational results which is of great value to managers attempting to make their organizations perform better.
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HAYNES, GEORGE W., JOSEPH I. ONOCHIE, and YOON LEE. "INFLUENCE OF FAMILY'S SOCIAL RELATIONSHIPS ON THE DEBT STRUCTURE OF MEXICAN-AMERICAN AND KOREAN-AMERICAN SMALL BUSINESSES." Journal of Developmental Entrepreneurship 13, no. 03 (September 2008): 343–61. http://dx.doi.org/10.1142/s1084946708001022.
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This study utilizes the Korean-American and Mexican-American samples in the National Minority Business Survey to examine the debt structure of small businesses owned by individuals from these ethnic groups. Small business owners with higher household net worth were more likely to borrow from finance companies, friends, and credit card companies. When controlling for business, business owner and family characteristics, Mexican-American small business owners with high net worth were significantly more likely to borrow from commercial banks than Mexican-American small business owners with low net worth are. Korean-American small business owners with high net worth were significantly more likely to utilize family loans than Korean-American small business owners with low net worth are. Korean-American small businesses appeared to be more financially dependent on the financial strength of their community, while Mexican-American small businesses owners appeared to be more financially independent.
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Ganguly, Aniruddha. "HR Dynamics in Family-managed Businesses in India." NHRD Network Journal 13, no. 1 (January 2020): 48–61. http://dx.doi.org/10.1177/2631454119894742.
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Out of the 100 largest companies listed in India in terms of market cap, more than 50 per cent are family managed. Indian family-managed companies have a distinct organisational culture. Organisational culture shapes and re-shapes people management, influenced by several factors—stage of evolution of the organisation, environmental/economic challenges and owner family culture. The way the owner family conducts itself embodies family governance. Family governance influences corporate governance. Human resource management (HRM) is an essential element of corporate governance. Nature of HRM in family-managed companies is significantly influenced by the way the owner family drives it. Some of the large Indian family-owned companies are consistently high on market cap because they are able to attract and retain the best talent. They can do this consistently because the best talent gets attracted to the best HR practices in an organisation. There is increased awareness of this among Indian owner families and they are now adopting world-class people practices to attract the best talent from the market. Soon we shall have many more Indian family-owned companies indistinguishable from western family-owned companies in terms of people practices.
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Haynes, George W., Rosemary Walker, Barbara R. Rowe, and Gong-Soog Hong. "The Intermingling of Business and Family Finances in Family-Owned Businesses." Family Business Review 12, no. 3 (September 1999): 225–39. http://dx.doi.org/10.1111/j.1741-6248.1999.00225.x.
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This study uses data from a national survey of 673 business-owning households to assess factors associated with intermingling business and family finances. Logit analysis indicates that the use of family resources in the business is more likely in sole proprietorships; when the business owes money to financial institutions; and when the business owner is older, more experienced, and without children in the household. Family use of business resources is more likely if the business is incorporated, is located in a rural area or small town, and borrows money.
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Weiser, John, Frances Brody, and Michael Quarrey. "Family Businesses and Employee Ownership." Family Business Review 1, no. 1 (March 1988): 23–35. http://dx.doi.org/10.1111/j.1741-6248.1988.00023.x.
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Employee ownership, properly structured, enhances the strengths of family-owned firms and offers significant financial benefits. Employee ownership is often of particular interest to family firms when an owner is seeking to retire and has no heirs interested in continuing in the business.
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Aung, Nay Zar, and Youji Kohda. "Emergence of Familiness and Family Owned Business Performance." International Journal of Asian Business and Information Management 10, no. 3 (July 2019): 61–73. http://dx.doi.org/10.4018/ijabim.2019070104.
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This article explores the concept of familiness in family-owned businesses (FOBs), identifying how families generate their own resources for business performance. Applying the resource-based view, the authors examined seven Myanmar businesses. Findings revealed that two factors influence familiness in Myanmar FOB: family unity and internal governance systems, which can be subdivided into traditional and collective systems. Moreover, evaluation revealed that FOB's business performance was affected by different family attitudes. A combination of family unity and a traditional internal governance system was conducive to controlling the internal business capabilities, whereas creating external opportunities were considered more effective for a combination of family unity and a collective internal governance system. Findings suggest that familiness emerges through embedded family resources that incorporates a sense of awareness with abilities for business advantages. These empirical results can provide insights and inputs that can help small and medium-sized FOBs safeguard their future.
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Hebert, Frederic J., Kenneth E. Bass, and Joseph Tomkiewicz. "Ethics in Family vs Nonfamily Owned Businesses." Psychological Reports 91, no. 3 (December 2002): 952–54. http://dx.doi.org/10.2466/pr0.2002.91.3.952.
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This study investigated the ethical judgments in family vs nonfamily owned businesses. Respondents rated their ethical evaluations of 5 scenarios which involved ethical issues, e.g., promotion of a family member ahead of an equally qualified nonfamily employee. Analysis of responses from 120 participants yielded no statistically significant differences between the ethical judgment ratings of owner/managers of family and nonfamily owned firms.
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Maharani, Anita, Laurencia Bernadette Yokung, Ervan Ignasius, and Nixon Suwargo. "INTERRELATIONSHIPS BETWEEN NON-FAMILY BUSINESS MEMBERS, NEPOTISM AND PRIDE IN FAMILY BUSINESS SUCCESSION." Emerging Markets : Business and Management Studies Journal 8, no. 1 (June 17, 2021): 41–55. http://dx.doi.org/10.33555/embm.v8i1.168.
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The purpose of this study is to raise issues related to the succession of family-owned businesses, influenced by the involvement of members outside the family business and have something to do with nepotism and self-esteem. Conceptually, there is a relationship between members outside the family business, nepotism, and self-esteem in the family business. When there is professional involvement, the effect is positive on the family business's succession. When there is a practice of nepotism, this will harm the family business. And finally, regarding self-esteem, which will have a positive influence on the family business. This research's approach is quantitative, by looking at how much impact the independent variable has on the dependent where the sample of this study is 128 respondents. The results of this study indicate that professional existence does not affect the success of the family business. Simultaneously, nepotism will harm the family business, and then self-esteem will affect the family business's succession.
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Li, Wenxuan, and Maria I. Marshall. "Gender and business owner satisfaction." Journal of Family Business Management 9, no. 4 (November 29, 2019): 416–28. http://dx.doi.org/10.1108/jfbm-12-2018-0059.
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Purpose The purpose of this paper is to investigate how the factors associated with role satisfaction in farm and non-farm family businesses differ by gender of the business owner. Design/methodology/approach The data used are from a 30-minute telephone survey of owners of farm and non-farm family businesses in Indiana, Illinois, Michigan and Ohio. The sample consists of 627 small- and medium-size family businesses. Three ordered probit regressions are used to analyze role satisfaction. Findings Women’s participation in management and the number of family members in management are positively associated with women’s role satisfaction, while tension from resource competition is negatively associated with role satisfaction. In contrast, men’s role satisfaction is increased through high family business functioning and profit. Practical implications There is no difference in the level of role satisfaction between men and women when one controls for the owner, family and business characteristics. However, there is a difference in the factors that drive role satisfaction between men and women. This may be driven, in part, by what their roles are vis-à-vis the financial aspects of the business. Male and female business owners seem to focus on different aspects of their family business to achieve role satisfaction. Originality/value This paper determines the impact of gender on the role satisfaction of business owners of farm and non-farm family businesses in four Midwestern states. It identifies the different factors associated with role satisfaction for female and male family business owners based on their actual roles.
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Peake, Whitney, and Maria I. Marshall. "Women’s management practices and performance in rural female-owned family businesses." Journal of Family Business Management 7, no. 2 (July 10, 2017): 134–50. http://dx.doi.org/10.1108/jfbm-06-2016-0012.
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Purpose Prior research indicates that family businesses have fewer management control practices in place and are more likely to have non-economic goals for their firm. Further, researchers in this domain contend that female-controlled businesses tend to underperform compared to male-controlled businesses. The purpose of this paper is to analyze the performance effects of management controls and goals for the business across both male and female-controlled farm and rural family businesses. Design/methodology/approach The data used in the analyses are from the 2012 Intergenerational Farm and Non-Farm Family Business Survey. The sample comprises 576 small- and medium-sized rural family businesses. The authors used probit analysis to model both family business objective and subjective success for women and men. Findings The results suggest that female-controlled farm and rural family businesses do not underperform their male counterparts in terms of objective or subjective assessments of performance. The results do indicate, however, that strategic management via management control practices within the firm influence objective and subjective performance differently across male and female-controlled farm and rural family businesses. Originality/value The results provide three primary contributions to the family business literature. First, the authors determined that strategic management practices via management control mechanisms, as well as the monitoring of managers, are of significance to the objective performance (i.e. gross income) of both men and women-controlled farm and rural family businesses. Second, the authors found that communicating economic vs non-economic goals do not influence satisfaction with the firm’s performance, but do influence the probability of success for female-controlled family businesses. Finally, the authors find that when we compare male and female-controlled businesses in the same industry, while controlling for family and business factors, men and women do not differ in a statistical sense in objective or subjective performance.
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Nandlal, Honey, and Suresh Kumar. "MANAGING SUCCESSION IN A FAMILY OWNED SMALL-MEDIUM ENTERPRISES." International Journal of Family Business Practices 3, no. 1 (June 30, 2020): 21. http://dx.doi.org/10.33021/ijfbp.v3i1.1157.
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<p>Nowadays, family businesses are of high number in countires and contribute to the development of the economy. This research was conducted due to the importance of family business survival and it focuses on factors that affect their performance. Recently, family businesses have been identified as one of the concerns in the global entrepreneurial development agenda. This is because of the existing problem which is caused by family business owners avoid planning and treat succession as a problem instead of an opportunity. This impacts the continuity of the family-owned business. This research is made to emphasize the importance of planning and the drawbacks of negative bias in viewing succession as a problem. This study is expected to make family business owners understand the importance of planning and treating succession as an opportunity to achieve continuity. Qualitative research method was chosen as the method of the research with first generation family business owners as the key informants. Three key informants are chosen; Mr. Untoro A. Suryadi, Mr. IS and Mr. AS. In conclusion, family business should stop strategizing succession and treat succession as a practice.</p>
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LaChapelle, Kacie, and Louis B. Barnes. "The Trust Catalyst in Family-Owned Businesses." Family Business Review 11, no. 1 (March 1998): 1–17. http://dx.doi.org/10.1111/j.1741-6248.1998.00001.x.
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Trust patterns in family-owned businesses are frequently catalyzed by one person. Such individuals are sometimes, but not always, family members who initiate, maintain, and help create higher trust for both the family and the organization. These Trust Catalysts often have little or no formal hierarchical authority in the business. To examine their influence on trust levels, we conducted in-depth interviews with more than 60 people from seven multigenerational companies and backed these findings with data from earlier pilot case studies. Their practices helped us to understand how trust develops, operates, and even expands within family business systems.
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Gibb Dyer, W. "Network Marketing: An Effective Business Model for Family-Owned Businesses?" Family Business Review 14, no. 2 (June 2001): 97–104. http://dx.doi.org/10.1111/j.1741-6248.2001.00097.x.
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Network marketing organizations (NMOs) are among the most successful organizations in the 1990s. Sales in the NMO industry grew from $30 billion to almost three times that figure by the year 2000. This paper considers the questions, What is network marketing] How do network marketing companies achieve success] and How might leaders of family-owned companies use network marketing to grow their businesses]
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Bhargava, Pankaj. "HR Journey in a Family-owned Business: The Evolved Owner Makes a Difference." NHRD Network Journal 13, no. 1 (January 2020): 38–47. http://dx.doi.org/10.1177/2631454119897639.
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What does it take for a family-run business that has a legacy of generations to become known as a best-in-class professionally run organisation—preferred as a workplace by talent, creating leaders for the industry and ambassadorship among employees and alumni? This is the HR journey of Marico, led by an evolved owner, Mr Harsh Mariwala. In this article, we discuss four key HR practices of attracting talent, induction and probation of recruited talent, building accountability and developing talent. These practices work on principles that have withstood the test of time, evolving with the changing context of the business and external environment. These also represent the evolution of the HR role over a period of time. The author then elaborates how a professional work culture got institutionalised in Marico.
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Saridakis, George, Yanqing Lai, Rebeca I. Muñoz Torres, and Anne-Marie Mohammed. "Actual and intended growth in family firms and non-family-owned firms: are they different?" Journal of Organizational Effectiveness: People and Performance 5, no. 1 (March 12, 2018): 2–21. http://dx.doi.org/10.1108/joepp-04-2017-0033.
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Purpose Drawing on the motivation theory and family business literature, the purpose of this paper is to investigate the influence of family effect in growth behaviour of small-and-medium-sized enterprises (SMEs) in the UK. Design/methodology/approach The authors first compare the actual and expected growth of family and non-family-owned SMEs. The authors then compare the growth behaviour of small family firms managed by owner-directors and small family businesses co-managed by family and non-family directors with the non-family-owned SMEs. Findings The authors find a negative effect of family ownership on actual and intended small business growth behaviours. In addition, the findings also suggest that small family firms co-managed by non-family and family directors are no different from non-family-owned firms, in terms of reporting past actual growth in employment size and turnover as well as expecting growth in workforce size and turnover. The authors also observe a significant difference in anticipating sales growth between family-controlled and non-family-controlled firms. However, this difference is not explained by the heterogeneity of a top management team. Practical implications The study has important implications for managerial practice to family firms and on policies that improve the growth of SMEs. Specifically, the competence of managers and decision makers matters considerably in evaluating the efficient operation of the business and maximising the economic growth in SMEs. Originality/value The study makes two important theoretical contributions to small business growth literature. First, the findings underline a negative family effect in the actual and expected growth behaviour of SMEs. Second, the mode of family ownership alone may not sufficiently capture family effect and offer a thorough understanding of growth behaviour in SMEs.
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Nnabuife, Ezimma K. N., Ngozi Ogechukwu Nwogwugwu, and Ifeanyi Emmanuel Okoli. "Polygamy and Family Owned Business Succession in Nigeria." International Journal of Management Excellence 13, no. 1 (June 30, 2019): 1891–97. http://dx.doi.org/10.17722/ijme.v13i1.1092.
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With the alarming rate Family Owned Businesses (FOBs) die at the demise of its founders/owners this study looks at polygamy and the role it plays in smooth succession of FOBs in the Southeast Nigeria as its major objective. The study demystifised the concept of FOB and succession in FOBs vis-a-vis polygamy. The kitchen model of succession in FOBs operated by polygamous was also explained. Some factor militating against succession in FOBs of polygamous families were discussed in detail. It was concluded that since FOBs play a great part in the economy of nations Nigeria and Southeast part inclusive, those owned by polygamous families need to start the processes of succession early enough to aviod squabbles at the demise of owner/founder. Professionals should also be brought in early to handle major business decisions as well as avoid playing into the hands of sentiments and emotions while making critical succession decisions.
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Coleman, Susan, and Mary Carsky. "Sources of Capital for Small Family-Owned Businesses." Family Business Review 12, no. 1 (March 1999): 73–84. http://dx.doi.org/10.1111/j.1741-6248.1999.00073.x.
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Securing adequate capital is an ongoing challenge for many small family-owned businesses. This article uses data from the 1993 National Survey of Small Business Finances to determine the extent to which small family-owned firms use various types of credit products. Using logistic regression, it also identifies variables that predict the likelihood of using credit. Findings reveal that size, age, and profitability of the firm were the most important predictors. Results also indicate that there were virtually no differences between family-owned and nonfamily-owned businesses in the usage of various credit products.
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Tundui, Charles Stephen, and Hawa Petro Tundui. "Performance drivers of women-owned microcredit funded enterprises in Tanzania." International Journal of Gender and Entrepreneurship 12, no. 2 (February 27, 2020): 211–30. http://dx.doi.org/10.1108/ijge-06-2019-0101.
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Purpose The purpose of this paper is to investigate performance drivers of women-owned businesses that are funded primarily through microcredit. It draws on Storey’s theory of small business growth and family embeddedness axiom to examine the factors that drive the performance of businesses that are funded primarily through microcredit. Design/methodology/approach The paper uses a cross-sectional survey that covered 208 women business owners who had access to microcredit. The authors use a logistic regression analysis to model the relationship between independent variables and enterprise performance. Findings The paper demonstrates that microcredit plays a significant role in business performance. The credit amount has the most significant influence on the enterprise capital base, whereas the effect on profits is insignificant. Also, owners are more likely to report growth in profits if they possess skills in business management. In addition, younger business owners and necessity entrepreneurs are more likely to report success in their businesses. Other factors that have a significant effect on business performance are product cycle, loan use and family support. Originality/value Many women in Tanzania are entering business ownership and depend on microcredit as their primary source of capital for starting and growing their businesses. However, just a few businesses grow into small and medium-sized enterprises. For informed policy decisions, it is important that the factors influencing the performance of funded businesses are known and well understood. This understanding will help the government and development practitioners assist women in achieving business growth rates that could warrant their empowerment and poverty reduction prospects.
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Denison, Daniel, Colleen Lief, and John L. Ward. "Culture in Family-Owned Enterprises: Recognizing and Leveraging Unique Strengths." Family Business Review 17, no. 1 (March 2004): 61–70. http://dx.doi.org/10.1111/j.1741-6248.2004.00004.x.
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Through years of consulting experience and culture research, a fuller picture of family firms began to emerge. It became increasingly clear that family business sustainability and accomplishment were rooted in something deeper, something beyond superficial explanation. Belief in the innate value and uniqueness of family business culture drove collaboration on this project between the disciplines of family business and organizational behavior. The goal was to critically examine family business culture and performance relative to nonfamily firms. The Denison Organizational Culture Survey, a cultural assessment tool that has linked corporate culture to financial performance, was administered to a sample of 20 family businesses and 389 nonfamily businesses, allowing us to compare their cultures. The results showed that the corporate cultures of family enterprises were more positive than the culture of firms without a family affiliation. Family enterprises scored higher on all 12 dimensions of the assessment tool. Despite the small sample, several of these differences were statistically significant. This suggests that family firms perform better because of who they are. In addition, recent research that shows they also perform better because of what they do strategically. Their histories and shared identities provide a connectedness to time-tested core values and standards of behavior that lead to bottom-line success.
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Harvey, Michael, and Rodney Evans. "Forgotten Sources of Capital for the Family-Owned Business." Family Business Review 8, no. 3 (September 1995): 159–76. http://dx.doi.org/10.1111/j.1741-6248.1995.00159.x.
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The recent scandals on Wall Street in the banking and savings and loan industries have created a financial crisis for many family businesses, particularly those in smaller towns and cities. The long-standing personal relationships with financial intermediaries have been altered by the loss of these financial organizations and by heightened government intervention and regulation. To manage the finances of a family business successfully, the owners must reassess forgotten sources of capital for their businesses. This article examines these sources of capital for family businesses in the United States.
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Rajan, Soumya, Priya Ganesh, and Nandini Mehra. "Human Capital: The Key to the Longevity of a Family Business." NHRD Network Journal 13, no. 1 (January 2020): 12–24. http://dx.doi.org/10.1177/2631454119894761.
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Globally, family-owned businesses are the oldest and most predominant form of an enterprise, forming an integral part of the organised and unorganised sectors of free economies. Over the years, with the greater longevity of family businesses in India, there has been a dynamic and strategic shift in Indian families from being ‘family businesses’ to ‘business families’. This shift has come with its own set of challenges, most critical among them being the challenges related to ‘human capital’ for these businesses. The need to balance familial relationships with the pragmatism of business is a unique interplay which creates multiple complexities and inter-related issues for all family members alike. With close to 75 per cent of the Indian workforce employed by family-owned businesses, it is important to dive deeper into the human resources (HRs) function in Indian Family businesses. Our endeavour is to understand the challenges of HRs in a family business and how this differs from larger corporations or non-family businesses.
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Chittoor, Raveendra, and Ranjan Das. "Professionalization of Management and Succession Performance—A Vital Linkage." Family Business Review 20, no. 1 (March 2007): 65–79. http://dx.doi.org/10.1111/j.1741-6248.2007.00084.x.
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Based on inductive reasoning—case evidence from Indian family business groups and the authors' experience with family businesses in India—this article explores the impact on succession performance of succession to a nonfamily professional manager as compared to a family member, commonly referred to as professionalization of management. An important distinction is drawn between family-owned and family managed businesses and family-owned and professionally managed businesses. Then, drawing from case studies on succession process in three Indian family business groups, the article puts forth five propositions pertaining to the impact of professionalization of management on succession performance. Several directions for further research are indicated.
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Dessi, Cinzia, Wilson Ng, Michela Floris, and Stefano Cabras. "How small family-owned businesses may compete with retail superstores." Journal of Small Business and Enterprise Development 21, no. 4 (November 11, 2014): 668–89. http://dx.doi.org/10.1108/jsbed-02-2014-0025.
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Purpose – The purpose of this paper is to explore the “perceptive concordance” – the proximity of perceptions of the business- between key managers and customers of two small family-owned and managed businesses (“FBs”) and two larger non-FBs in Cagliari, Italy as a preliminary basis for understanding how small retail businesses that are typically family owned have continued to compete and thrive in many Western European cities. Design/methodology/approach – The authors asked how small FBs have been able to compete in an advanced European economy despite apparent competitive disadvantages relative to large superstores selling the same products. In addressing this question the authors drew on a qualitative research methodology in which the authors interviewed senior managers and surveyed customers of the four businesses and applied an original statistical model to assess the degree of their perceptive concordance with over 100 customers of each business. Findings – The study's findings suggest a significant difference between key managers and customers of the sampled FBs and non-FBs in the perceptive concordance of the respective businesses held by those managers and customers. Research limitations/implications – Based on the research in this study the authors have developed a number of scholarly and managerial implications in the way that both FBs and non-FBs may retain old customers and gain new ones by anticipating and not merely responding to their product and service preferences. Originality/value – This paper extends the literature on customer relations management (“CRM”) in FBs by explaining how small High Street FBs in competitive retail businesses have continued to thrive in Western Europe where owner-managers have developed and successfully leveraged their tacit knowledge of the requirements of repeat customers.
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Alderson, Keanon. "Conflict management and resolution in family-owned businesses." Journal of Family Business Management 5, no. 2 (October 12, 2015): 140–56. http://dx.doi.org/10.1108/jfbm-08-2015-0030.
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Purpose – The purpose of this paper is to review the literature concerning the negative effects of conflict among family businesses and to make practitioner focussed recommendations for the prevention, management, and resolution of conflict. This paper discusses the prevalence of conflict in family firms, differentiates the types of conflict present, and recommends proven approaches to prevent and manage the conflict, with a focus on corporate governance tools. Examples of well known companies are presented. Design/methodology/approach – A review was conducted of the literature concerning family business conflict and corporate governance. Findings – Conflict is a common problem in family firms that has significant consequences for the business and the family. Research has shown effective governance may reduce and manage conflict. Research limitations/implications – This was a literature review. As such it did not perform original research. Practical implications – This paper has practical implications for family business practitioners. The paper offers the negative aspects of conflict and recommends effective mechanisms such as governance tools to enable the prevention, management, and resolution of conflict. Social implications – Implications exist for practitioners and policy makers in order to reduce conflict and increase the viability of family firms. Originality/value – The scholarly literature has been reviewed and synthesized into distillation for family business owners.
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Brill, Peter. "Diagnosis of a Family-Owned Business." Psychiatric Annals 25, no. 4 (April 1, 1995): 251–55. http://dx.doi.org/10.3928/0048-5713-19950401-14.
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Zaki, Achmad, Mintarti Rahayu, and Christin Susilowati. "STRATEGIES FOR SUCCESSFUL FAMILY-OWNED BUSINESS." JURNAL APLIKASI MANAJEMEN 16, no. 2 (June 1, 2018): 215–23. http://dx.doi.org/10.21776/ub.jam.2018.016.02.04.
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Ramadani, Veland, Léo-Paul Dana, Nora Sadiku-Dushi, Vanessa Ratten, and Dianne H. B. Welsh. "Decision-Making Challenges of Women Entrepreneurship in Family Business Succession Process." Journal of Enterprising Culture 25, no. 04 (December 2017): 411–39. http://dx.doi.org/10.1142/s0218495817500157.
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The decision-making process concerning succession issues for family businesses is crucial as it affects long term performance and sustainability. However, while succession issues in family business has been extensively studied, the decision-making process for women-owned family businesses is sparse, particularly in transition economies. This is despite the growth of women-owned businesses worldwide. This study explores the succession decision-making process in women-owned small family businesses in Kosovo using a qualitative approach. The findings suggest that group decision making is important in family businesses and plays a role in determining how gender influences succession planning. Managerial and policy implications are discussed.
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Bawa, Nadya. "Family-owned business in South Africa: Local enterprise responses by South African Indian family-owned business." Urban Forum 17, no. 2 (May 2006): 167–98. http://dx.doi.org/10.1007/s12132-006-0004-9.
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Gulbrandsen, Trygve. "Flexibility in Norwegian Family-Owned Enterprises." Family Business Review 18, no. 1 (March 2005): 57–76. http://dx.doi.org/10.1111/j.1741-6248.2005.00030.x.
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This article discusses whether family ownership affects a firm's adoption of flexible manpower and organization practices. The results presented in the article show that the important divide is not between family-owned and nonfamily businesses: family businesses with a professional top manager differ from nonfamily firms only as regards one of seven flexibility measures. More important is whether the owners choose to be in charge of the day-to-day running of the firm themselves (owner-management) or leave it to a professional manager. In owner-managed family businesses, five out of seven practices for increased flexibility prevail less frequently than in both family businesses with a professional manager and nonfamily firms. Owner-managers are, then, more skeptical of adopting new management principles and personnel policies than are professional managers.
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Esparza Aguilar, José Luis. "Corporate social responsibility practices developed by Mexican family and non-family businesses." Journal of Family Business Management 9, no. 1 (March 14, 2019): 40–53. http://dx.doi.org/10.1108/jfbm-05-2018-0016.
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Purpose The purpose of this paper is to identify the CSR practices developed by Mexican family and non-family MSMEs. The study also aims to compare the CSR practices carried out by family and non-family businesses in a country with an emergent economy. Design/methodology/approach The paper opted for an exploratory study using a sample of 384 businesses was selected in the southern state of Quintana Roo, Mexico, distributed in 245 family and 139 non-family businesses and a questionnaire was applied directly to the managers/owners. Findings The results show that family MSMEs develop CSR practices to a higher extent than non-family ones, mainly on environment and societal dimensions. In addition, CSR practices in family-owned enterprises develop to a higher extent when the manager/owner has more years of experience in the business, has a higher university education and the size of the business is larger. Research limitations/implications The study was developed exclusively with a MSMEs sample with a scope only on the southern part of Quintana Roo, Mexico; the shortage of business databases and the stratification of businesses based exclusively on the number of employees. This work presents information that contributes to the state of the art, broadening the existing literature related to CSR in businesses of a country with an emergent economy and an environment where the tourism and commercial sectors predominate. Practical implications This paper provides information to government institutions for the establishment of public policies targeted for an increase of CSR activities by businesses in the area. Manager and/or owners can understand the importance of implementing CSR activities within the business as a competitive strategy. It is also important for universities, professors/researchers and for all interested parties. Originality/value This paper provides theoretical and empirical evidence about CSR practices carried out among family and non-family MSMEs in an emergent economy.
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Farrington, Shelley, Elmarie Venter, and Christo Boshoff. "The influence of family and non-family stakeholders on Family Business success." Southern African Journal of Entrepreneurship and Small Business Management 3, no. 1 (December 31, 2010): 32. http://dx.doi.org/10.4102/sajesbm.v3i1.21.
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<p>The greatest threats to the growth, success and survival of a family business are primarily issues related to family relationships. The involvement of non-family members has also shown to present many threats as well as opportunities for the family business. Because of the increasing number of sibling teams among family businesses this article focuses on the impact of family and non-family members’ involvement on the success of sibling-owned family businesses. Key stakeholders identified as influencing a Sibling Partnership are parents, non-active sibling shareholders, spouses, and non-family members. The primary objectives of this article are thus to evaluate the impact of the stakeholders identified on the success of a Sibling Partnership, by subjecting these relationships to empirical testing, and making recommendations to successfully manage relationships in family businesses. A structured questionnaire was made available to 1 323 sibling partner respondents. The respondents were identified by means of a convenience snowball sampling technique, and the data collected from 371 usable questionnaires was subjected to various statistical analyses. The empirical findings of this study show that both past and present Parental involvement, as well as the involvement of other family members and Non-family employees in the sibling-owned family businesses, significantly impact on its success.</p><p><strong>Keywords and phrases:</strong> Family business, Sibling Partnership, family team, family relationships, spouses, non-active shareholders, stakeholders</p>
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Pestana, Luciana J., Luís Pereira Gomes, and Cristina Lopes. "Testing the capital structure of Portuguese family businesses." Revista Contabilidade & Finanças 32, no. 87 (December 2021): 510–27. http://dx.doi.org/10.1590/1808-057x202113190.
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ABSTRACT The main objective of this study is to empirically test capital structure decisions in Portuguese family-owned businesses under trade-off theory (TOT) and pecking order theory (POT) and attend to the relationships between family/business interaction and agency conflicts. Family-owned businesses are essential for the development of economies, but the financing logic they adopt is not yet adequately clarified by scientific research, especially as they are more exposed to the constraints of markets imperfections. The specific pattern of business ownership may affect the financing decision and the ability to obtain funds externally. This issue is more relevant in economies where family business initiatives and less sophisticated management strategies are expressive. The greater convergence of interests in family businesses and the consequent decrease in agency costs may lead to higher levels of recognized reputation and thus easier access to indebtedness. The empirical study uses static models and dynamic panel models in order to analyze data from 4,952 Portuguese family-owned firms over the period from 2009 to 2016: the TOT following the partial debt adjustment model, and the POT following the model of the impact of the deficit of funds on debt and the model of the relationship between debt and the determinants of financing. The results of the individual tests suggest that Portuguese family-owned businesses adjust debt at the target ratio, albeit influenced by adjustment costs that keep them distant from the optimal, as well as use sources other than debt when a financial deficit occurs. Although the impact of the financial deficit is greater in total debt ratio, the velocity of adjustment to the optimal level is higher in short-term debt. Evidence from a joint test confirms that both theories explain part of the capital structure of Portuguese family-owned businesses.
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Chourou, Lamia. "Compensation of owner managers in Canadian family-owned businesses: expropriation of minority shareholders." Canadian Journal of Administrative Sciences / Revue Canadienne des Sciences de l'Administration 27, no. 2 (June 23, 2010): 95–106. http://dx.doi.org/10.1002/cjas.145.
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Gumus, Sefer, and Hande Gulnihal Gumus. "Effects of Institutionalization over the Raising Values of Family-Owned Businesses and a Practice." International Journal of Research in Business and Social Science (2147-4478) 3, no. 3 (July 22, 2014): 77–85. http://dx.doi.org/10.20525/ijrbs.v3i3.112.
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The family businesses constitute the base of global economies. They provide contributions to economy and sectors with their assets and activities. Their reaching to plan, program and objectives occur through the sharing of experience, knowledge and accumulation. Their adaptation to domestic and global markets is the characteristic separating the definition, family businesses from other businesses. In this study, the advantages and disadvantages of this situation, management forms, institutionalism concept and its stages and elements of institutionalism, institutionalism stages in family businesses, problems preventing institutionalism, institutionalism of family relations that family constitution, board of directors, family council, inheritance plan, emergency situation plan and conflict management are explained and effects of family individuals over institutionalism, the general characteristics of institutionalized family businesses are defined and a practice regarding the issue of “Institutionalism of Family Relations”, which was performed in a family business through observation, conversation and interview, which was founded in Istanbul in year 1989 and carrying activities in textile sector over shirt, short and pant manufacturing were given place. Literature review regarding family business were performed in this study and the concepts and theoretical information related with the subject were explained and combining the theory and practice, knowledge accumulation and experience sharing through a practice performed through observation, conservation and interview made with the management of a family business were provided and they were explained in our study with an academic language.
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Wang, Qi, and Qiuming Wu. "Evaluation on innovation efficiency of successor of Chinese listed family business based on DEA." International Journal of Innovation Science 11, no. 3 (October 11, 2019): 454–70. http://dx.doi.org/10.1108/ijis-03-2019-0027.
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Purpose The purpose of this study was to measure the innovative performance of a managed and owned mainland Chinese family business. The objective of the study was to assist an inheritor and/or successor of a family business and to find management problems in innovative activity. Design/methodology/approach To improve the innovative technical efficiency (TE) of the business, the study offers methods that enhance the allocation of resources to provide outcomes that improve the core competitiveness of the business and realize the sustainable development of the business. Innovation performance is a well-organized and efficient way of turning innovation input into innovation output. Human input, research and development expenditures measure innovation input. Patent output and other outputs, which include total labor productivity and asset liability ratios, measure innovation output. To complete the study’s task, the innovative performance of 46 Chinese listed family run and owned businesses were evaluated based on the data envelopment analysis and the Banker, Charnes and Cooper model. Findings The results of the study show that the overall TE of innovation in a Chinese family run and owned business is low and that the returns to scale of most such businesses is decreasing, and furthermore, that the overall innovation performance of is low. Originality/value The implications from the study further suggest that for business efficiency and increased profit a beneficiary of a Chinese family-owned business should optimize the firm’s size and resource allocation.
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Dean, Sylvia Melodye. "Characteristics of African American Family-Owned Businesses in Los Angeles." Family Business Review 5, no. 4 (December 1992): 373–95. http://dx.doi.org/10.1111/j.1741-6248.1992.00373.x.
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This article presents findings from an investigation of businesses owned and managed by African American families in the Los Angeles area. Its dual purposes are to identify salient characteristics and to explore commonly held assumptions about African American family businesses and their owner-managers. Several widely held beliefs about African American family businesses were not supported.
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Anggadwita, Grisna, Werda Bagus Profityo, Dini Turipanam Alamanda, and Anggraeni Permatasari. "Cultural values and their implications to family business succession." Journal of Family Business Management 10, no. 4 (June 26, 2019): 281–92. http://dx.doi.org/10.1108/jfbm-03-2019-0017.
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Purpose The family business is one of the business entities that contribute to the economy of a country. Succession in the family business occupies a strategic position, especially in maintaining the company’s sustainability. The Chinese family business has unique characteristics in maintaining and growing its business with the cultural values that underlie how their business. The purpose of this paper is to discuss the cultural values of Chinese ethnic and their implications in the succession process in small family businesses in Bandung, Indonesia. Design/methodology/approach This research uses a qualitative method with the in-depth interview method as a data collection technique. The sampling technique uses purposive sampling, while to test the validity of research data using a triangulation technique. A total of four small Chinese-owned family businesses participated as informants in this study. The study will identify the stage of succession process in the Chinese family business. Findings There are several stages identified in the succession planning of small Chinese-owned family business in Bandung which include succession antecedents, succession activities and desired outcomes. The results showed that small Chinese-owned family business in Bandung has not applied the rules and procedures in the succession process. Most of the Chinese family business in this research still holds Confucianism culture; they prioritize boys as business successors, who have a greater responsibility rather than successor with other gender. Practical implications Several implications are discussed. One of them is the Chinese family business holding cultural values in the process of family business succession. Originality/value This research is expected to provide theoretical and practical implications for academics and family companies with similar cases.
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DANES, SHARON M., JINHEE LEE, SAYALI AMARAPURKAR, KATHRYN STAFFORD, GEORGE HAYNES, and KATHERINE E. BREWTON. "DETERMINANTS OF FAMILY BUSINESS RESILIENCE AFTER A NATURAL DISASTER BY GENDER OF BUSINESS OWNER." Journal of Developmental Entrepreneurship 14, no. 04 (December 2009): 333–54. http://dx.doi.org/10.1142/s1084946709001351.
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Using National Family Business Panel data combined with national natural disaster and federal disaster assistance data, the purpose of the study was to investigate relative contributions of human, social and financial capital; natural disaster exposure; and federal disaster assistance to business-owning family resilience over time for male and female family business owners. With a theoretical foundation of Sustainable Family Business and Conservation of Resources theories, the study examined 311 small family firms from the National Family Business Panel. Federal disaster assistance explained a significant amount of variance in firm-owning resilience. Higher levels of federal disaster assistance were associated with lower family firm resilience for male-owned businesses and higher family firm resilience for female-owned businesses. This study advances knowledge of firm sustainability after natural disasters by adding to the conceptualization and measurement of family firm resilience; by having baseline firm financial data prior to disaster exposure; by utilizing a national, representative, longitudinal family firm sample; by including a range of natural disasters and federal disaster assistance; and by including family resilience over time.
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Adams, Janet S., Armen Taschian, and Ted H. Shore. "Ethics in Family and Non-Family Owned Firms: An Exploratory Study." Family Business Review 9, no. 2 (June 1996): 157–70. http://dx.doi.org/10.1111/j.1741-6248.1996.00157.x.
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Limited research on ethics in family business leads to competing arguments regarding whether family firms are more, less or equally as ethical as non-family controlled firms. Comparing structured interview data from 214 respondents in family firms with a proportionally matched sample of 230 respondents in non-family-owned firms, we found few—but important—differences in ethics-related attitudes, behavior and experiences. Fewer family-owned businesses had formal codes of ethics. They were more likely to employ informal methods to promote ethical behavior, with role modeling of expected behaviors regarded as more important than in non-family firms.
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Arsić, Siniša, Koviljka Banjević, Aleksandra Nastasić, Dragana Rošulj, and Miloš Arsić. "Family Business Owner as a Central Figure in Customer Relationship Management." Sustainability 11, no. 1 (December 23, 2018): 77. http://dx.doi.org/10.3390/su11010077.
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This paper presents theoretical and empirical research on the activities and attitudes of a family business owner regarding marketing as a business function. The development of successful business relationships of a family business is tightly connected with the activities of the business owner. The theoretical review examined numerous family and non-family business studies by analyzing the existing paradigms of marketing management as a whole. The empirical research, surveying 420 family businesses in Serbia, defined the overall role of the family business owner in customer relationship management regarding business-to-business (B2B) and business-to-consumer (B2C) relationships. Key findings suggest that the main difference in customer relationship management (CRM) between family and non-family companies is related to B2B relationships, which the family business owner is heavily involved in managing, in terms of invested time and responsibility. Future research should cover aspects of internationalization (to regional markets) because it is essential to cross-examine regional with local contacts of a family business owner, to provide full comprehension of the complexity of market relationships in a family business environment.
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Hirigoyen, Gérard, and Sami Basly. "The 2008 financial and economic crisis and the family business sale intention." Journal of Small Business and Enterprise Development 26, no. 4 (August 15, 2019): 571–94. http://dx.doi.org/10.1108/jsbed-04-2018-0115.
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Purpose The purpose of this paper is to assessthe probable influence of some of the emotional costs and returns expected by owners on their family business sale decision; and examine if the perceived economic environment during the economic and financial crisis of 2008 had an impact on the intention to sell their family business. Design/methodology/approach The research is based on a sample of 69 family businesses responding to a postal questionnaire survey. The empirical study is made up of a descriptive analysis of the factors influencing the intention of a family business sale and an explanatory analysis of the sale intention. Findings The desire for family business renewal through family generational succession is the main emotional factor lying behind the decision to continue/sell the business. Furthermore, the financial and economic crisis does not seem to be a factor that accentuates the intention to sell the family business even if firms’ financial performance has declined. Research limitations/implications Future research could implement a direct measure of owners’ performance thresholds and explicitly integrate the moderating role of “Perceived economic environment.” Practical implications By showing that continuity is a key concern for family business owners, the research invites them to effectively prepare their succession instead of postponing this strategic process given its significance in guaranteeing the survivability of the family business. Originality/value Executives who perceived economic conditions as very poor are less likely to consider the sale of the business in the horizon of two years than executives perceiving them as “normal.” The study confirms that in family-owned businesses, for the owner-managers and the active and serene family shareholders, the sale price does not compensate for their emotional regret evaluated through the loss of the family business’ emotional value.
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Karofsky, Paul I. "Interview with Sampath Durgadas." Family Business Review 13, no. 4 (December 2000): 339–44. http://dx.doi.org/10.1111/j.1741-6248.2000.00339.x.
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In November 1998, Paul I. Karofsky visited with several family-owned and -managed businesses in India. The powerful cultural and family influences on family-owned enterprises sparked his desire to interview Sampath Durgadas, a visiting professor and consultant to family businesses at the Institute of Management in Bangalore. Over a 12-year period, Mr. Durgadas conducted extensive experiential research on the nature of transition in three family-owned companies. Although the focus of his work is on the four South Indian states of India, he traveled widely throughout the country. His book, entitled Inheriting the Mantle: Managing Succession in Indian Family Business , is under publication by Sage Publications New Delhi.
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Abbasian, Saeid, and Darush Yazdanfar. "Exploring the financing gap between native born women‐ and immigrant women‐owned firms at the start‐up stage." International Journal of Gender and Entrepreneurship 5, no. 2 (June 20, 2013): 157–73. http://dx.doi.org/10.1108/17566261311328837.
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PurposeThe main purpose of this study is to provide empirical evidence which identifies the impact of ethnicity and other relevant variables on external capital acquisition among Swedish women‐owned businesses at start‐up.Design/methodology/approachSeveral methods have been employed to analyze the sample including a binary logistic regression model. The sample consists of 836 women‐owned businesses in southeast Sweden; 97 immigrant‐owned, 739 native born‐owned.FindingsThe results indicate that there are partly significant differences between native women‐owned firms and immigrant woman‐owned businesses at start‐up. Unlike the native‐owned firms, the immigrant woman‐owned businesses rely more on loans from family members and less on bank loans.Practical implicationsThe results reveal that age has a positive impact on loans from family members, while the additional job outside one's own business, the amount of the owner's personal start‐up capital and firm size positively influenced access to capital from banks. The owners' level of education, previous business experience, the legal form taken by the firm and the industry affiliation conversely played no significant role in explaining the women owners' attitudes toward loans from either friends or the bank.Originality/valueTo the authors' knowledge, this study is the first empirical investigation addressing this issue in the Swedish context.