Abstract
So far results regarding the specific influence of family values to family firm success are inconclusive. In order to solve the puzzle, we account for family firm heterogeneity and we develop a taxonomy of family firms based on family values. Using values theory, we identify six value categories that help to discriminate between family firms, resulting in five family firm types with five distinct value profiles. These family firm types differ in the importance placed on each value category and thus help us to better understand the heterogeneity among family firms and serve as a first stepping stone for future research aimed at a more differentiated discussion on family values and their impact on family firm success.
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