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Article
Publication date: 21 November 2023

Carmen Nebot and Javier Morales Mediano

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…

261

Abstract

Purpose

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.

Design/methodology/approach

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.

Findings

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.

Originality/value

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.

Details

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

Keywords

Open Access
Article
Publication date: 13 September 2019

Anita Zehrer and Gabriela Leiß

The purpose of this paper is to explore leadership succession in families in business. Although there is a vast amount of research on leadership succession, no attempt has been…

3602

Abstract

Purpose

The purpose of this paper is to explore leadership succession in families in business. Although there is a vast amount of research on leadership succession, no attempt has been made to understand this phenomenon by using an intergenerational learning approach. By applying the Double ABC–X model, the authors discuss how resilience is developed through intergenerational learning during family leadership succession in business.

Design/methodology/approach

Based on a single case, the authors define pre- and post-event parameters of the business family under study and use the Double ABC–X Model as an analytical framework. Individual and pair interviews, as well as a family firm workshop, were undertaken following an action research approach using multiple interventions. The qualitative data were collected by reflective journals, field notes and observation protocols. Finally, the authors analyze the data according to a circular deconstruction strategy.

Findings

The authors find specific pre-event stressor parameters related to mutual mistrust, independent decision making and non-strategic transmission of power, knowledge and responsibility from predecessor to successor. The intervention based on the intergenerational approach during the post-crisis phase focuses on problem solving and coping within the new situation of co-habitation among the two generations. The intergenerational learning approach based on pile-up of demands, adaptive resources and perception is the source of family adaptation. Additionally, the power of the narrative to reflect past events and project the future seems to the point where the family starts developing resilience.

Originality/value

The way family businesses deal with critical and stressful events during leadership succession may lead to intergenerational learning, which is a source of resilient families. The authors apply the Double ABC–X model to understand family leadership succession in business and further develop it to explain how families develop resilience.

Details

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

Keywords

Article
Publication date: 19 September 2023

Mei Xuan Liew and Yoke Mei Loo

The aim of this study was to obtain evidence of the practical significance of the generational involvement (GI) of top management teams (TMT) on the nexus between entrepreneurial…

Abstract

Purpose

The aim of this study was to obtain evidence of the practical significance of the generational involvement (GI) of top management teams (TMT) on the nexus between entrepreneurial orientation (EO) and business performance (BP) in small family businesses (SFBs).

Design/methodology/approach

This study employed a questionnaire survey of 112 Malaysian SFBs. The data was analyzed using descriptive analysis, hierarchical multiple regression analysis and a two-way interaction model.

Findings

The results indicate that SFBs have a positive EO–BP nexus. However, the study found that TMT-GI has a negative effect on EO and reduces the positive nexus between EO and BP. Specifically, higher levels of GI were associated with lower levels of EO and weaker BP.

Research limitations/implications

The study raises the necessity for SFBs to seek out a management mechanism and structure to balance the entrepreneurial boundary between the family-level and the business-level when there is increased GI. Additionally to the current, incorporating family TMT-related human ecology aspect of GI with the family business field could lead to a new research value stream.

Practical implications

The results of this study will enable family business decision makers and TMT to better understand the importance of considering family factors in their management strategies.

Originality/value

This analysis highlights the spatial relation of family-level logic in dominating EO–BP nexus at intervals in SFBs, where family factor of TMT-GI will be a key moderator.

Details

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

Keywords

Article
Publication date: 17 June 2019

Philipp Bierl and Nadine H. Kammerlander

The purpose of this paper is to investigate the process of family equity creation and its role for transgenerational entrepreneurship.

Abstract

Purpose

The purpose of this paper is to investigate the process of family equity creation and its role for transgenerational entrepreneurship.

Design/methodology/approach

This paper combines a systematic literature review on family equity with conceptual theory building, resulting in a model of family equity creation.

Findings

The proposed model contains three phases of equity creation that ulitmately leads to transgenerational entrepreneurship: harvesting, institutionalization (via a single family office) and reinvestment.

Originality/value

This paper conceptually introduces the family equity creation model, which may serve as integrative framework for future research on transgenerational value creation by entrepreneurial families. The presented findings are of relevance for family entrepreneurship scholars, entrepreneurial families, as well as for practitioners.

Details

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

Keywords

Article
Publication date: 1 September 2023

Kathleen Randerson

The author synthesizes research at the genesis of the field of family entrepreneurship, allowing to distinguish it from the field of family business. Indeed, family…

272

Abstract

Purpose

The author synthesizes research at the genesis of the field of family entrepreneurship, allowing to distinguish it from the field of family business. Indeed, family entrepreneurship is at the intersection of family, entrepreneurship and family business and is dedicated to the understanding of entrepreneurial behaviors of family, family members and family businesses. Here, the author emphasizes the importance of context as well as bidirectional relationships to grasp the multiplicity of behaviors and their antecedents and outcomes. The author offers an overview of possible futures: how family entrepreneurship can be instrumental in understanding and taking action in face of ecological, economic and societal issues.

Design/methodology/approach

The author synthesizes, critically assesses and integrates extant research, offering a state of the art of the field of family entrepreneurship accessible to a wide audience of readers.

Findings

The author reviews and integrates the literature that undergirds family entrepreneurship, flushing out its idiosyncratic value relative to family business. The author underscores how framing situations and issues with family entrepreneurship is a promising avenue to better understand and navigate pending ecological, economic and societal stakes.

Originality/value

This perspectives paper distinguishes family entrepreneurship from family business, the former building on and expanding the latter. It highlights how the augmented view is useful to understand entrepreneurial behaviors of families, family members and family businesses because it triangulates family, entrepreneurship and family business. Consequently, the present state of the art provides a useful synthesis and perspectives of possible futures. The originality of this research relies in offering a snapshot integrating prior research at the genesis of the field and demonstrating how the field can fruitfully support future research and practice, in particular to address grand challenges and wicked problems.

Details

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

Keywords

Article
Publication date: 26 March 2024

Safiya Mukhtar Alshibani and Abdullah M. Aljarodi

This study delves into the aspirations of young individuals to assume leadership roles in their family businesses. It assesses the impact of family embeddedness and the perception…

Abstract

Purpose

This study delves into the aspirations of young individuals to assume leadership roles in their family businesses. It assesses the impact of family embeddedness and the perception of positive family business performance on succession intentions and investigates potential gender differences in this context.

Design/methodology/approach

Hierarchical multiple regression was determined for utilizing a sample of university students in seven countries from the Middle East–North African (MENA) region (N = 3,908).

Findings

The present study’s findings suggest that embeddedness in the family business has a much stronger role in shaping the succession intentions than previously envisioned. Females are more inclined to take over the family business when they perceive that the family business is not performing well.

Originality/value

This study provides important insights into the dynamic of family business succession intentions and family embeddedness. By providing a better understanding of some of the key drivers of family business succession intentions, it enables families in the MENA region to develop better family plans to engage with their successors effectively.

Details

International Journal of Emerging Markets, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1746-8809

Keywords

Open Access
Article
Publication date: 6 October 2023

Judit Csákné Filep, Olga Anna Martyniuk and Marta Wojtyra-Perlejewska

The institutional context in which family firms operate influences their behaviour and performance, yet literature reviews seldom analyse family firms on a regional basis. To fill…

Abstract

Purpose

The institutional context in which family firms operate influences their behaviour and performance, yet literature reviews seldom analyse family firms on a regional basis. To fill this gap, this review aims to present research on family entrepreneurship in the transition economies of the Visegrád countries (V4). In this particular group of European economies, the current formal institutions have largely evolved along Western European lines. However, the transformation of informal institutions appears to be still in its infancy.

Design/methodology/approach

In order to identify the most representative authors, the methodologies used, the main research topics and to establish a future research agenda, the authors selected, through a systematic process, 112 papers from the Web of Science up to the year 2022. The authors performed a bibliographic analysis using clustering algorithms, complemented by a traditional literature review.

Findings

The performance of family firms in transition economies has been the subject of very little research. The results allowed the authors to identify four main areas of research: governance, innovation, sustainability, competitive advantage and considering the influence of the region's characteristics on family business behaviour.

Originality/value

Studies from transition economies can contribute to a broader understanding of family firms in terms of the impact of the institutional environment (especially the influence of sociological changes and specific historical experiences of family members) on their long-term planning, socioemotional wealth (SEW) protection and ethics. In light of recent events, research from the region may also contribute to the understanding of how and to what extent “familiness” influences crisis management or socially responsible behaviour in family firms.

Details

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

Keywords

Article
Publication date: 6 February 2024

Joanna F. Norman, Leah Aiken and Tomika W. Greer

The purpose of this research was to empirically examine the career transitions of mid-career African American women leaving traditional careers for entrepreneurship. The authors…

Abstract

Purpose

The purpose of this research was to empirically examine the career transitions of mid-career African American women leaving traditional careers for entrepreneurship. The authors illustrate how transition theory and effectuation principles ameliorate an African American woman's transition to entrepreneurship.

Design/methodology/approach

The authors conducted semi-structured interviews with nine African American woman entrepreneurs. The data collected were evaluated through the lens of transition theory and effectuation theory.

Findings

The study results show that despite being the chief officer, many African American women still face inequalities when negotiating business deals, interacting with partners and when seeking capital for their business. Effectuation theory partially supports an African American woman's career transition to entrepreneurship, but the theory does not fully address the unique experiences of this demographic.

Research limitations/implications

The results of this study reveal that effectuation principles do not fully explain the entrepreneurial career transition experiences of African American women. Theory development and extensions of existing theories should consider the potential discriminatory practices that limit financial resources and strategic partnerships for African American women entrepreneurs. The authors also advocate for consideration of identities, particularly related to gender and race, as factors that contribute to entrepreneurial experiences.

Practical implications

The study findings support the notion that each woman's situation will be different and unique, requiring aspiring African American woman entrepreneurs to assess their individual situation. Consistent access to minority-specific programs can help aspiring African American women entrepreneurs visualize her new identity and provide the support needed to enhance her career transition. There is no one-size-fits-all solution, so each woman will need to craft her own individualized plan.

Social implications

Findings from this study solidify the role of African American women entrepreneurs as business leaders with influence and direct impact on the US economy. Their success enables African American women to contribute to more inclusive societies through their service to diverse members of society. In addition, their attainment of success serves as a testimony to aspiring African American women that entrepreneurial success is achievable, encouraging more diversity in entrepreneurship.

Originality/value

Few entrepreneurial studies exist on both women and racial minorities, resulting in a paucity of strategies to support African American women throughout their entrepreneurial journey. The results of this study revealed barriers which require specific strategies to address discriminatory lending practices and acceptance when forging new business relationships.

Details

Journal of Small Business and Enterprise Development, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1462-6004

Keywords

Article
Publication date: 25 September 2023

Mei-Ling Wang, Ming-Chi Lee and Hsiao-Yen Mao

By utilizing boundary theory and distraction–conflict theory, this study attempted to examine the influential process of supportive teleworking practices granting work scheduling…

Abstract

Purpose

By utilizing boundary theory and distraction–conflict theory, this study attempted to examine the influential process of supportive teleworking practices granting work scheduling autonomy on work-to-family conflict (WFC) via the mediating mechanism of work interruption initiated from home.

Design/methodology/approach

The study conducted two-wave online questionnaire survey to obtain a final sample of 277 remote knowledge workers in Taiwan during the peak period of COVID-19 pandemic. Hypotheses were tested with partial least squares-structural equation modelling using SmartPLS 3.0 software.

Findings

The results revealed that supportive teleworking practices did not directly decrease the level of WFC while home-sourced work interruptions fully mediated the negative relationship between supportive teleworking practices and WFC.

Originality/value

This provides a more nuanced explanation for how and why supportive teleworking practices are beneficial for employees to cope with the challenge of work–home interferences under the new ways of working. The findings simultaneously address evidence-based practices to better deal with mandatory teleworking during potential societal crisis beyond the COVID-19 pandemic.

Details

Personnel Review, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0048-3486

Keywords

Article
Publication date: 6 October 2023

Peng Ren, Isabel C. Botero and James O. Fiet

Although succession planning can be important for the continuity of family firms, not all family business have the opportunity to engage in this planning. Sometimes, these…

Abstract

Purpose

Although succession planning can be important for the continuity of family firms, not all family business have the opportunity to engage in this planning. Sometimes, these organizations face crisis events that may trigger an intra-family succession. However, what happens when there is an unplanned succession? Are family businesses doomed to fail? This project aims to explore unplanned successions that are triggered by crisis and the impact that this can have on post-succession financial performance. The authors also examine the moderating role of successor characteristics (i.e. education and previous work experience) on this relationship.

Design/methodology/approach

The ideas were tested using data from 151 publicly listed family firms in China.

Findings

The findings indicate that having a crisis driven intra-family succession does not always result in lower post-succession performance. It is only successions that are triggered by market crises that negatively impact financial performance after the unplanned succession. In these instances, the education and previous experience of the successor moderate the negative relationship between market crisis succession and financial performance such that having more experience and a college education diminishes these negative effects on performance.

Practical implications

The results point to the importance of the preparation of the next generation in helping family firms navigate unplanned successions. The findings indicate that education and previous work experience of the successor can help a family firm manage a crisis.

Originality/value

This study continues to build the understanding about unplanned successions and the important role that successor preparation can have for the success of the family firm.

Details

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

Keywords

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