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Under the background of continuous sluggishness of the real economy and expansion of asset sectors, the Chinese economy exists a trend of “from the real to the virtual.” Managing the corporate financialization is the key to prevent the real economy “from real to virtual.” The paper explores the influence of family involvement on corporate financialization since family firms are an important proportion of real sectors.

Based on Socioemotional Wealth Theory, this paper makes empirical study using the data of Chinese A-share listed companies from 2008 to 2022 to explore the influence of family involvement on corporate financialization, mainly from the perspectives of family engagement, family identity of CEO and family control power.

These are the findings: (1) Family engagement will inhibit corporate financialization; (2) Compared with employing external managers, family members acting as CEOs will decrease corporate financialization; (3) The proportion of family ownership is negatively correlated with the level of corporate financialization.

The originality of this paper include these: (1) Analyzing the differences in the financialization of real enterprises with different characteristics and attributes; (2) Expanding the research on the internal motivation of the financialization of the real enterprises, and supplementing the research literature on family firms and corporate financialization; (3) Exploring the internal influence mechanism of financialization of family firms under the background of Chinese culture.

Industrial robots are of great significance to the long-term development of family firms. Drawing on the lens of the principal–principal conflict, this paper aims to investigate the influence of family non-executive directors on robot adoption in Chinese family firms.

This paper selects the family firms in China from 2011 to 2019 as the sample. Furthermore, the authors manually collected the family non-executive directors and constructed the robot adoption variable utilizing data sourced from the International Federation of Robotics. In brief, this paper constructs a comprehensive framework of the mechanisms and additional tests pertaining to the influence of family non-executive directors on robot adoption.

This paper finds that family non-executive directors can promote robot adoption in family firms. The underlying mechanism analysis shows that family non-executive directors promote robot adoption by exerting financial and human effects. This paper further finds that the characteristics of family non-executive directors, such as kinship, differential shareholding and excessive directors, affect the role of family non-executive directors. Finally, robot adoption can improve future performance, and the promotional effect is more evident when family members are non-executive directors.

This paper contributes to the related literature from the following two aspects. Firstly, this paper decomposes the types of family directors to understand the role of family non-executive directors, which challenges the assumption that family board members are homogeneous in family firms. Second, this paper expands the research on the factors that influence robot adoption in emerging economies from the micro-enterprise level. In addition, the findings in this paper have managerial implications for family firms to optimize their strategic decisions with the help of the mode of board right allocation.

This study explores the integration of Artificial Intelligence (AI) within family businesses. It seeks to understand how family-owned enterprises navigate the adoption of AI technologies amidst balancing traditional business values and the imperatives of digital transformation. The research addresses the gap in the existing literature by providing insights into the strategic, operational and cultural dynamics influencing AI adoption in family businesses, highlighting the unique challenges and opportunities they face in leveraging AI for competitive advantage while preserving their legacy.

Employing a qualitative research design, this study utilizes semi-structured interviews with key stakeholders in Turkish family businesses actively engaging in AI projects. Purposive sampling was adopted to ensure a diverse representation of industries and AI adoption stages. The interviews aimed to capture in-depth insights into the motivations, strategies and outcomes of AI integration within these enterprises. Thematic analysis was conducted on the interview transcripts to identify recurring themes and patterns, providing a nuanced understanding of the factors driving AI adoption decisions in the context of family business values and traditions.

The findings reveal that family businesses in Turkey perceive AI as a strategic tool to enhance operational efficiency and customer engagement. However, integrating AI technologies is often met with challenges, including resource constraints, digital literacy gaps and concerns over maintaining family legacy. Notably, businesses that successfully navigate AI adoption tend to employ tailored strategies that align with their core values, involving key family members in the decision-making process and fostering a culture of innovation. The study also highlights the importance of ethical considerations and governance in ensuring AI initiatives resonate with the family business ethos.

The study’s reliance on qualitative interviews within a single country context limits the generalizability of the findings. Future research could expand the geographical scope and incorporate quantitative methods to validate the identified themes across broader populations. Additionally, exploring the impact of generational differences within family businesses on AI adoption could offer more profound insights. The study underscores the need for a more nuanced understanding of the interplay between technology and tradition in family businesses, suggesting avenues for further investigation into how these enterprises can leverage AI to foster innovation while preserving their legacy.

This research offers practical guidance for family businesses contemplating AI integration. It emphasizes the importance of aligning AI strategies with family values and involving stakeholders across generations in the adoption process. The findings suggest that family businesses can benefit from investing in digital literacy and fostering a culture open to technological innovation. Additionally, the study highlights the need for robust governance structures to navigate ethical considerations in AI adoption. By adopting a strategic approach to AI integration, family businesses can enhance their competitiveness without compromising their core values, ensuring long-term sustainability and success in the digital era.

Integrating AI in family businesses has significant social implications, particularly regarding employment and preserving the family legacy. The study suggests that thoughtful AI adoption can contribute to job creation and skill development, counteracting concerns over job displacement. Moreover, by leveraging AI to align with their core values, family businesses can reinforce their role as stewards of social and economic stability within their communities. This research underscores the potential of AI to support the intergenerational transfer of knowledge and values, fostering innovation while preserving the unique cultural heritage of family enterprises.

This study contributes to the emerging literature on AI adoption in family businesses by exploring the Turkish context. It fills a gap in the literature by examining the unique challenges and opportunities family businesses face in integrating AI, highlighting the interplay between technological innovation and traditional values. The research offers valuable insights into tailored strategies for successful AI adoption that respect the legacy and ethos of family enterprises. By focusing on the socio-cultural dimensions of technology integration, this study enriches our understanding of how family businesses can navigate digital transformation while preserving their identity.

This paper examines the integration of artificial intelligence (AI) within family businesses, focusing on how AI can enhance their competitiveness, resilience and sustainability. The study seeks to provide insights into AI’s application in family business contexts, addressing the unique strengths and challenges these businesses face.

A systematic literature review was conducted to synthesize existing research on the adoption and integration of AI in family businesses. The review involved a comprehensive analysis of relevant academic literature to identify key trends, opportunities, challenges and factors influencing AI adoption in family-owned enterprises.

The review highlights the significant potential of AI for family businesses, particularly in improving operations, decision-making and customer engagement. It identifies opportunities such as analysing customer data, enhancing brand building, streamlining operations and improving customer experiences through technologies like Generative AI, Machine Learning, AI Chatbots and NLP. However, challenges like resource constraints, inadequate infrastructure, low customization and AI knowledge gaps inhibit AI adoption in family firms. The study proposes an AI adoption roadmap tailored for family businesses and outlines future research directions based on emerging themes in AI use within these enterprises.

This paper addresses the underexplored area of AI integration in family businesses, contributing to the academic understanding of the intersection between AI and family-owned enterprises. The study offers a comprehensive synthesis of existing research, providing valuable insights and practical recommendations for enhancing the competitiveness and sustainability of family businesses through AI adoption.

The purpose of this paper is to provide new scientific knowledge concerning the impact of the Covid-19 pandemic on auditing quality as determined by audit fees for both family- and non-family-owned firms in Jordan.

The authors use an ordinary least squares (OLS) regression firm-clustered standard error employing data from 200 Jordanian enterprises between 2005 and 2020 to validate this study's hypotheses.

The regression findings suggest that enterprises run by families are better able to handle crises and spend less on audits. Companies that are not family-owned have to spend the most on monitoring tasks since they need to take extra steps to prevent the agency problem and make their financial statements stand out from their peers in order to attract more investors. Additional analysis that stretched out throughout 2005–2022 came to the same findings.

The findings can be beneficial for authorities to better regulate and supervise the auditing sector. Political leaders, legislators, regulators and the auditing industry can all learn important lessons from the findings as they assess the growing concerns in a turbulent economic situation. The results of this research can, therefore, be utilised to reassure investors and assist policymakers in crafting workable responses to Covid-19's creation of financial problems. After the devastation caused by the coronavirus, these findings may be used to strengthen the laws that oversee Jordan's auditing sector.

In emerging nations like Jordan, where there is a clear concentration of ownership and a predominance of high levels of family ownership, and to the best of the authors' knowledge, this is the first empirical study to compare the auditing quality of family-owned versus non-family-owned enterprises. Preliminary insights into the crisis management tactics of family and non-family organisations are provided by this first empirical investigation of the consequences of the Covid-19 crisis on family-owned firms.

This paper seeks to systematically review and synthesise existing research knowledge on African women entrepreneurship to identify gaps for future studies.

The paper conducted a systematic literature review of published studies from 1990 to 2020 on women entrepreneurship in Africa using a 5M gender aware framework of Brush et al. (2009).

The systematic literature review of published studies found the fragmentation, descriptive and prescriptive orientation of studies on Africa women entrepreneurship and devoid of theoretical focus. Further, women entrepreneurship studies tended to be underpinned from various disciplines, less from the entrepreneurship lens, mostly quantitative, and at its infancy stage of development. With a primary focus on development, enterprise performance and livelihood, studies rarely attended to issues of motherhood and the nuanced understanding of women entrepreneurship’s embeddedness in family and institutional contexts of Africa.

The paper questions the view that women entrepreneurship is a “panacea” and unravels how family context, customary practices, poverty and, rural-urban and formal/informal divide, significantly shape and interact with African women entrepreneurs’ enterprising experience and firm performance.

The findings and analyses indicate that any initiatives to support women empowerment via entrepreneurship should consider the socially constructed nature of women entrepreneurship and the subtle interplay of the African institutional contexts’ intricacies, spatial and locational differences which significantly influence women entrepreneurs’ choices, motivations and goals for enterprising.

The paper contributes to a holistic understanding of women entrepreneurship in Africa by using a 5M framework to review the research knowledge. In addition, the paper not only identifies unexplored/or less examined issues but also questions the taken-for-granted assumptions of existing knowledge and suggest adoption of context- and gender-sensitive theories and methods.

Despite the rapid advancement of blockchain technology across various sectors, scholarly research on its application within family businesses remains significantly underdeveloped. This study aims to address this gap by examining the application of blockchain technology within family businesses to identify key application domains, benefits and implementation challenges.

The study employs a conceptual approach, drawing on existing literature on family businesses and blockchain technology. This review aimed to identify the unique characteristics of family businesses, their challenges and the distinctive features of blockchain technology that can potentially be mapped to each other. Based on the literature review, we develop a conceptual framework exploring blockchain technology applications in family businesses. Real-world case studies of family businesses that have implemented blockchain technology were identified to provide practical insights and implementation challenges.

Blockchain technology possesses transformative potential for family businesses across several critical domains. It includes enhancing trust and transparency in operations, improving governance and decision-making and facilitating succession planning and intergenerational wealth management. Case study evidence illustrates the tangible benefits of blockchain, including enhanced supply chain transparency, optimized business processes, increased customer trust and resultant business sustainability. Blockchain technology implementation challenges include data privacy concerns, integration with legacy systems, regulatory uncertainty and change management issues.

This study is limited by its reliance on existing literature and case studies. It may not capture the full spectrum of challenges and opportunities associated with blockchain applications in family businesses. Future research should focus on longitudinal and empirical research to provide a deeper understanding of the impact of blockchain technology application in family businesses.

This study contributes to the literature by exploring the intersection of family businesses and blockchain technology, an area that has received limited academic attention. It identifies potential application domains of blockchain technology in family businesses and develops a conceptual framework based on existing literature. Through case studies, the research provides practical insights and valuable lessons for family businesses considering blockchain implementation. It also addresses key considerations and challenges, providing a clear roadmap for blockchain technology integration in family businesses. The study lays the groundwork for further research and exploration in blockchain technology and family businesses.

This study investigates whether a firm’s character as a mature micro and small family or non-family business may impact the managing owner’s choice of a potential exit strategy.

The empirical evidence was provided through a sample of 302 entrepreneurs (170 respond-ents from mature micro and small family businesses and 132 from non-family businesses) who participated in a survey on potential exit strategies.

The primary finding indicates that there is no significant difference in exit strategy preferences between family and non-family entrepreneurs from mature micro and small-sized firms. It was found that both groups of entrepreneurs mostly opt for internal succession.

This paper presents a novel perspective, demonstrating that while non-family firms are not typically anticipated to adopt the same exit strategies as family firms, they may still opt for internal succession. Furthermore, we provide an insight into potential exit strategy decisions made in smaller firms, which have been less frequently analyzed compared to larger firms in the field of entrepreneurial exit.

This study aims to identify various factors that have driven the knowledge transfer process for succession purposes in family business since the 1920s and discuss their implications for advancing effective succession planning in this business sector for the next 100 years.

The paper reviews and synthesizes current research on knowledge transfer drivers in family business from 1923 to 2023 and draws out future perspectives on what will influence the knowledge-transferring process in the next 100 years.

Trust, organizational culture and environmental factors such as the need to create competitive advantages, technological advancement and new sources of knowledge have been identified as the most prominent drivers of knowledge transfer for effective succession in family business throughout the 1920–2020s. In the future, the ability to create value, the internationalization process and business innovations will play an essential role in knowledge-sharing among family and non-family members during succession.

The paper provides a review of past development and a future perspective on factors enhancing the effectiveness of knowledge transfer for succession in family firms.

The principal objective of this study is to identify and recommend auspicious research directions within the field of family business research, with a specific focus on the wealth creator. In conjunction with these research trajectories, the paper also aims to elucidate the potential implications of cultivating these lines of inquiry on the existing family business literature.

This perspective paper adopts a comprehensive approach to examine the multifaceted role of the wealth creator in the context of family businesses. It reviews the last decades of research that resulted in the identification of this role within family business and proposes future research avenues to further address their characterization and importance.

Investigating the wealth creator's attributes can provide insights into their role, the importance of timely identification and its preparatory elements. Furthermore, this exploration can shed light on the dynamics of inter-family relationships within family businesses and enrich the literature on power transition and continuity in family enterprises. Additionally, the maturation of the wealth creator concept may significantly impact the management of wealth portfolios, facilitating smoother wealth transfer, strategic portfolio management and the preservation of multi-generational wealth.

This research offers a diverse understanding of the role of the wealth creator in family businesses. The findings also enhance the comprehension of family business dynamics, enriching the literature on succession. Lastly, the offered research avenues contribute to addressing the challenges of sustaining family wealth and ensuring the continuity of family businesses across generations.