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1 – 10 of over 101000Anneleen Michiels and Claudia Binz Astrachan
The primary aim is to renew academic discourse on financial education in business families. It emphasizes the need for effective financial literacy programs to foster a healthier…
Abstract
Purpose
The primary aim is to renew academic discourse on financial education in business families. It emphasizes the need for effective financial literacy programs to foster a healthier relationship with money, addressing both technical aspects of finance and its psychological and relational impacts among family members.
Design/methodology/approach
This perspective article explores the impact of money education within business families. It discusses the psychological effects of money education on family dynamics and decision-making in family businesses. The research draws on previous studies, surveys and practical examples to highlight the importance of financial education and its implications on family and business sustainability.
Findings
Financial education is essential in business families as it enables more meaningful discussions on money and wealth, fostering informed decisions and decreasing conflict. Yet, it is often overlooked. There is a need for academic research into effective strategies for financial education for family members and the effects of financial literacy, or its absence, on various aspects of the business and the family system. The article presents a selection of pertinent questions for future research in this domain.
Originality/value
This article contributes to the family business field by underscoring the gap in scholarly research on money education within family businesses. It advocates for comprehensive financial education strategies that balance technical knowledge with an understanding of the psychological and relational aspects of money.
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Keywords
This perspective article aims to summarise the understanding of the link between regional development and family business and explore potential pathways for further investigations.
Abstract
Purpose
This perspective article aims to summarise the understanding of the link between regional development and family business and explore potential pathways for further investigations.
Design/methodology/approach
This study employed a scoping review methodology which attempts to explore a new topic of study and unveil its main concepts and relationships.
Findings
This study emphasises the need to enhance the cross-fertilisation of knowledge to bridge the gap between studies on regional development and family business. In addition to the traditional research pathways towards discerning the impact of formal and informal institutional contexts and economic and geographical locations on family business behaviour and performance, this perspective article encourages future researchers to delve into the regional-level mechanisms through which family businesses can influence and contribute to regional economic and social outcomes.
Originality/value
This perspective study employs a context theorising lens to examine the connection between regional development and family business.
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Liliana Dewi, Eko Budi Santoso and Kazia Laturette
This study aims to see the importance of the father's role and the responsibility of ownership in three family companies in Indonesia. The family company's success cannot be…
Abstract
This study aims to see the importance of the father's role and the responsibility of ownership in three family companies in Indonesia. The family company's success cannot be separated from the father's role, responsible as the family company's owner. The study used a qualitative approach method. This study is based on interviews with three different family companies. Our findings present that those fathers who have prepared early and involve the second generation in the family business are more adaptable to business. An interesting finding is that it depends, however, on the interests of the next generation. For example, if the next generation prefers operations, this is not easy to reconcile with their father's desire to focus on marketing. In the twenty-first century, especially during the COVID-19 pandemic, entrepreneurship has changed. The family businessman's role is increasingly important amid market dynamics so that it affects globally.
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Jose Andres Areiza-Padilla, Tatiana Galindo-Becerra, Iván Veas-González and Karla Barajas-Portas
This article examines some of the trends that allow to understand and analyze the evolution of the idea of entrepreneurship to become a family business.
Abstract
Purpose
This article examines some of the trends that allow to understand and analyze the evolution of the idea of entrepreneurship to become a family business.
Design/methodology/approach
This paper is based on systematic research.
Findings
Around four current trends and four future trends are presented, which allow the authors to understand how the family of an entrepreneur influences in a direct and indirect way in their business, until even managing to transform that business into a family business through planning, organization, management and control exercised by several members of the family of the initial entrepreneur and his future generations in that company.
Originality/value
This research makes it possible to identify some challenges and opportunities that family businesses must face, which arise from an enterprise and which can help them to have business success, covering part of the past, present and future of such organizations. In this way, this article synthesizes how family dynamics and business dynamics are intertwined through the influence of the family on an entrepreneur’s business model.
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Ritch L. Sorenson, Andy Yu and Keith H. Brigham
The past decade of empirical research has established a body of knowledge about family business. A summary of this body of knowledge can be a guide for the content of family…
Abstract
The past decade of empirical research has established a body of knowledge about family business. A summary of this body of knowledge can be a guide for the content of family business instruction. One such summary now exists. A recent study compiled and assembled the dependent variables used in family business research (Yu, Lumpkin, Brigham, & Sorenson, 2009). This paper summarizes the findings of that study, discusses the extent to which course content in family business matches the current state of the field, and comments about possibilities going forward for courses in family business. Two textbooks are used to illustrate current course content: Family Business by Poza (2007) and Strategic Planning for the Family Business by Carlock and Ward (2001).