Assessing Espoused Goals in Private Family Firms Using Content Analysis

Understanding how private family firms gauge performance is of great interest to family business scholars. Unfortunately, finding comparable data to understand differences in the performance of such firms is challenging. This study draws from the organizational identity literature to show how private family firms communicate different goals in publicly available organizational narratives. The authors illustrate a process using content analysis that allows family business scholars to create a comparative data set that captures both normative and utilitarian goals using website and press release narratives from a sample of Australian firms.Yeshttps://us.sagepub.com/en-us/nam/manuscript-submission-guideline

Family Businesses and Adaptation: A Dynamic Capabilities Approach

The main objective of this research was to propose a framework centred on the dynamic capabilities approach, and to be applied in the context of family businesses’ adaption to their changing business environment. Data were gathered through interviews with ten FBs operating in Western Australia. Based on the findings, the clusters of activities, sensing, seizing, and transforming emerged as key factors for firms’ adaptation, and were reinforced by firms’ open culture, signature processes, idiosyncratic knowledge, and valuable, rare, inimitable and non-substitutable attributes. Thus, the usefulness of the proposed framework was confirmed. Implications and future research opportunities are presented. © 2018, The Author(s)

Defining family business: a closer look at definitional heterogeneity

Researchers have used a myriad of different definitions in seeking to explain the heterogeneity of family firms and their unique behavior; however, no widely-accepted definition exists today. Definitional clarity in any field is essential to provide (a) the basis for the analysis of performance both spatially and temporally and (b) the foundation upon which theories, frameworks and models are developed. We provide a comprehensive analysis of prior research and identify and classify 82 definitions of family business. We then review and evaluate five key theoretical perspectives in family business to identify how these have shaped and informed the definitions employed in the field and duly explain family firm heterogeneity. Finally, we provide a conceptual diagram to inform the choice of definition in different research settings

The Strategies of the Spanish cotton textile companies before the Civil War: the road to longevity

This study, based on family business theories, offers an innovative vision of the Spanish cotton industry. It proves that Spanish cotton companies, just like their European counterparts, implemented a strategy that was consistent with their nature as family businesses and went beyond the economic-institutional frames within which they developed. The article identifies this strategy as `conservative, because its main objectives were longevity and family control and because it was based on a high percentage of own resources, low levels of indebtedness and organic growth, thus sacrificing profitability for the sake of security.Universidad Pablo de OlavidePostprin

Addressing the theory-practice divide in family business research: The case of shareholder agreements

The ultimate aim of family business research is the production of new actionable knowledge, that is rigorous, empirically verified recommendations that fit family business needs and benefit their business practice. Oftentimes, however, research efforts fall short in meeting this goal, leaving family business owners and managers with limited guidance other than anecdotal evidence, best practices, and other forms of “conventional” or “folk” wisdom. We address this theory-practice divide in family business research using the example of shareholder agreements. We present a theoretical analysis of the characteristics, antecedents and effects of shareholder agreements on family business outcomes using the concept of family-practice fit, suggesting that characteristics of the owning family, which are expressions of family heterogeneity, should be aligned with the practices used to manage the family, and its intersection with the business in order to facilitate goal attainment. In focusing on the family as a unit of analysis, our conceptualization follows the calls for a more nuanced understanding of the family behind the firm, providing a foundation upon which future research on shareholder agreements and other widespread family business practices can build