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Article
Publication date: 12 March 2019

Claudio Camfield and Mário Franco

The purpose of this paper is to find evidence contributing to construction of the dimensions of personal values, professionalization and succession, as well as proposing a…

Abstract

Purpose

The purpose of this paper is to find evidence contributing to construction of the dimensions of personal values, professionalization and succession, as well as proposing a new theoretical framework (model) showing the relations between these dimensions and their factors.

Design/methodology/approach

A qualitative research approach was adopted, more precisely the case study method. Four Portuguese family firms were selected, with a total of 11 participants. The data-gathering techniques included the interview method, non-participative observation and documentary analysis. To ensure systematization and reliability of data, the content analysis method was used with the help of NVIVO software.

Findings

Based on the results, eight factors were obtained explaining the professionalization dimension, the succession dimension was formed of four factors and the personal values dimension was made up of three factors. It was also possible to demonstrate the relationships between personal values, professionalization and succession in family firms.

Practical implications

The results obtained here can provide information to help managers in this type of firm, for example, to know themselves better, about their values and beliefs and how these can help in their daily relationships, in both the family and business domain, as well as in decision making about aspects of succession and professionalization.

Originality/value

This research makes important contributions to studies considering the family firm context. It will help to fill part of the gap in existing studies involving the psychological aspects in family firm management. It also presents important results about personal values and their relations with succession and professionalization of family firm management, as well as adding value to recent studies on the socio-emotional wealth of this type of firm.

Details

Journal of Family Business Management, vol. 9 no. 2
Type: Research Article
ISSN: 2043-6238

Keywords

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Article
Publication date: 30 March 2020

Pedro Vazquez, Alejandro Carrera and Magdalena Cornejo

The aim of this study is to explore and understand corporate governance patterns in family firms across Latin America. This is in response to several calls in the academic…

Abstract

Purpose

The aim of this study is to explore and understand corporate governance patterns in family firms across Latin America. This is in response to several calls in the academic literature urging for more empirical studies in corporate governance in developing regions.

Design/methodology/approach

Following a configurative perspective, a hierarchical cluster analysis is applied to a sample of the 155 largest Latin American family firms.

Findings

The authors identify three main corporate governance configurations across Latin American countries. First, the exported governance model resembles many characteristics of Anglo-American and Continental Europe governance patterns of public listed control, having independence from the board of directors, and mainly hiring non-family management. Second, the super-familial governance model describes private ownership where one or multiple families control both the board of directors and the top-management team. Finally, the hybrid governance model is the largest cluster identified in the sample and combines governance characteristics of both of the foregoing configurations. This configuration exhibits ownership structured through public offerings of shares combined with leadership of the board of directors by a family member as well as moderate family influence on the board and management.

Originality/value

This is the first study to investigate corporate governance in the largest listed and privately-owned family firms in Latin America. The article extends the conversation on family firm heterogeneity and contributes to the configurative approach in the family business field by offering a cross-country perspective and identifying meaningful taxonomies that are applicable beyond national boundaries.

Details

Cross Cultural & Strategic Management, vol. 27 no. 2
Type: Research Article
ISSN: 2059-5794

Keywords

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