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The purpose of this paper is to compare first‐, second‐, and third‐generation family business managerial characteristics and practices in a combined sample from six countries (Croatia, Egypt, France, India, Kuwait, and the USA) with significant differences in cultures, economies, levels of entrepreneurial activity, and family business demographics.

The design was survey research with a sample of 593 businesses from six countries. To compare differences between the three generations, analysis of covariance was run for the 11 dependent variables, followed by post hoc Tukey honestly significant difference multiple comparisons tests to determine which of the three generations were significantly different.

As family businesses move from first to second to third generation, some managerial characteristics and practices remain the same while others change. Furthermore, only minor generational differences between the various countries were found, thus supporting commonality of family businesses in spite of the differing cultural, economic, and demographic variations.

The results lead to an improvement in our understanding of entrepreneurial behavior and managerial characteristics and practices between generations of family business in six very diverse economic and cultural settings.

Prior family business research has rarely focused specifically on comparisons of first‐, second‐, and third‐generation firms. No prior research combined family firm data from different countries. The analyses are more complex and mixed than the methodologies used in most of the limited previous research, raising questions and indicating a need for further research.

The purpose of this paper is to, first, investigate the differences between generations in family businesses and, second, develop and verify the Family Business Success Model ability to improve the probability of business success measured by perceived profits, growth and meeting the owners’ expectations.

Data were collected through questionnaires and personal interviews. Overall, 98 usable questionnaires were collected for statistical analysis with a response rate of 82 percent.

One-way ANOVA hypotheses testing of the variables found four significant differences between generations. Regression analysis found the Family Business Success Model to be significant. Family business owners can improve the probability of success by utilizing a team-management decision-making approach, effectively handling conflict effectively, formulating specific succession plans, developing strategic plans, using sophisticated financial management methods, dealing effectively with the founder’s influence and if they seek to grow, they should consider going public.

This study provides family business owners, managers, educators and public policy makers with the means to help family businesses survive and grow effectively throughout generations by using the Family Business Success Model. In addition, this study can help consultants and advisors of family businesses to understand the differences between the first, second and third generation family businesses from a holistic perspective and help them implement the family business model.

This study contributes to the literature as one of the few studies in the Lebanese emerging market that examines how the first, second and third generations of family businesses differ. More importantly, it develops a Family Business Success Model that improves the probability of success.

This is an empirical study of family firm size, as measured by the number of employees, and the relationship of a firmʼs size to a variety of management activities, styles, and characteristics. A statistical analysis of data drawn from 159 American family businesses indicates significant differences by size with regard to the number of nonfamily members in top management, use of outside advisors, time spent engaged in strategic management, use of sophisticated methods of financial management, proportion of women family members involved in firm management, and level of conflict between family members. Implications are offered for family firm owner-managers, for those who assist such businesses, and for researchers in the field of family business.

Family businesses have several distinct features that distinguish them from other businesses. This aspect makes it imperative that scholars investigate issues with an additional focus on the interplay of family business dynamics. In this chapter, we explore the issues of power and corruption within family business, with the understanding that prior examinations of this phenomenon were primarily restricted to large public corporations that are not family owned. The key contribution of this chapter is to shed light on the dark side of family business, namely power enabled corruption. We do so by considering three dimensions that are unique to family firms, namely, ownership and control, generations, and governance. In particular, we highlight how these dimensions can facilitate corruption. It is possible that they may also challenge family business that try to detect, deter, and control corruption within their ranks. The lack of objective external evaluation, the ineffectiveness of internal checks, generational issues, family control, and the restricted nature of governance appear to contribute to exacerbating tensions that promote corruption becoming entrenched within family businesses. Following a case method approach, several illustrative examples of cases of power and corruption within family firms are provided, representing different geographic regions of the world, to showcase the widespread nature of this phenomenon. The three family business cases we illustrate (Grupo Odebrecht in Latin America, Sahara Group in South Africa and Foremost Maritime Group in China) represent multiple countries, continents, and geo-political frontiers. Each case illustrates how both corruption and power reinforce each other in family businesses. Implications of the magnifier effect of power on corruption in family business are discussed in terms of its impact, scale, and its enabling effect by providing a road map to corruption.

The purpose of this paper is to develop and test a concept of auditor as consigliere in family firms, that captures additional functions to monitoring, those of advice, mediating, and conveying.

The concept is tested through a survey conducted on 309 Swedish auditors.

The data indicate that the consigliere role is generally not emphasized, indicating that auditors primarily perform the monitoring role of the audit. However, the authors do find indications of the auditor performing the consigliere role, through performing the advisory and mediating functions and, to a smaller degree, the conveying function.

The survey is limited in response rate and in separating governance situations from consigliere functions.

With reservation for professional independence, the auditor as consigliere could be part of the governance of the family firm, but should be trained for this activity.

Regulators should pay attention to the consigliere role when, for example, stipulating compulsory rotation of auditors.

The paper shows that the auditor is more than a monitor in family firms. The consigliere role, even if not at all dominating, has to be considered, at least in family firms.

The purpose of this paper is to examine the impact of family ownership on firm performance. In particular the authors investigate whether family firms outperform non-family firms and whether first generation family firms perform better than second generation family firms in an emerging economy using Bangladesh as a case.

This study uses a data set of 141 listed Bangladeshi non-financial companies for the period 2005-2009. The methodology is based on multivariate regression analysis.

The result shows that family firms perform better than their non-family counterparts. The authors also find that family ownership has a positive impact on firm performance. The analysis further reveals intergenerational differences where family firms and performance are associated positively only when founder members act as CEOs or chairmen. However, when descendents serve as CEOs or chairmen family firms are associated with poorer firm performance.

The authors extend the findings of previous studies that investigate the family ownership and firm performance relationship in developed economy settings, but neglected emerging economies. The study also informs the literature about the intergenerational impact of family firms on performance in an emerging market.

The purpose of this paper is to: consider the extent to which recent research in industrial and organizational (I&O) psychology has examined the symbiotic relations between organizations and society; review the societal changes affecting organizations and individuals; and offer directions for future research.

Two researchers reviewed and categorized topics published in the key journals in the field during the period 2008‐2010 including: Journal of Applied Psychology (JAP), Personnel Psychology (PPsy), Organizational Behavior and Human Decision Processes (OBHDP), and the Journal of Managerial Psychology (JMP). There was considerable agreement on the categorization of topics in the journals.

The results of the review revealed that the majority of topics published in these journals focused on enhancing organizational effectiveness, and relatively few studies concentrated on social issues. In particular, 21 percent of articles in JAP and PPsy, 12 percent of articles in OBHDP, and 56 percent of articles in JMP emphasized social issues.

Only four journals in the field were reviewed, and a more thorough review of research in all journals is needed.

The review has implications for understanding the impact of societal changes on organizations and individuals, and for developing new human resource policies and practices.

The review indicated that more research is needed on social issues.

The paper adds unique value to the literature because it stresses the symbiotic relation between organizations, and society, highlights the importance of social issues, and offers directions for future research.

The purpose of this paper is to investigate how family businesses change as they grow in size, and to compare differences between the USA and France.

The research design is survey research, statistically t‐testing 12 hypothesized differences between smaller and larger firms in the USA (n=159) and in France (n=116).

The research finds that both countries' larger firms have significantly (p < 0.05) more non‐family members within top management and make greater use of outside consultants, advisors, and professional services than smaller firms. However, family businesses in France had no other significant differences, while those in the USA had four. Larger US firms have a smaller percentage of women family members working in the firm and less conflict and disagreement between family members; they also spend more time in strategic management activities, and use more sophisticated methods of financing.

There are some variations between the two country samples.

Understanding whether and how family business management activities, styles and characteristics change with growth can help those who own and manage such businesses. It can also be of value to those who advise and assist family businesses, as well as researchers who study them.

This is the first study to analyze the effect of firm size on family business management and to conduct a cross‐national comparison.

More than three decades support the research on the family business. The progress achieved, beyond the disagreements, is considerable. However, significant changes in the macro and microenvironment, and their influence on the companies lead to rethinking new perspectives. This new research agenda is multidimensional to achieve a deeper understanding of the essence of the family business. The objective is to find axes that allow hold up the family business to overcome new challenges. Renowned authors from all over the world have reflected on this and offered us new and high-quality perspectives to enrich debate and promote research.