Family Business Values: analysis of its influence on family members ́ behavior

Maribel Rodríguez Zapatero,Magdalena Rodríguez Jiménez

doi:10.24310/ejfbejfb.v3i2.4042

Abstract

This research focuses on how values system of family business in Cordoba, moderate behaviors within family business. A set of instrumental values and behaviors evaluated from one to five were answered by 446 people belonging to 112 family firms. Results show significant correlations among variables that shape the values system as well as almost normal distribution for behaviors analyzed. The values system within a family firm act as a moderator of family business members´ conducts. The instrumental values, guides needed for family firm survival, moderating behaviors are Ethic, cohesion and austerity. Ethic moderates communication, compromise. Cohesion affects confidence, acquiescence and cooperation meanwhile confidence and communication is moderated by austerity.

Highlights

Results show significant correlations among variables that shape the values system as well as almost normal distribution for behaviors analyzed
When describing the sample by generation running the business we found that 59% family firms were in foundation stage, 40% in sibling stage and just 1% was ran by the third generation which means that inference of results and conclusions must applied to first and second generation only
4.1 Descriptive Statistics Descriptive statistics for terminal and instrumental values as well as attitudes, conducts and behaviors appear in table 1

Summary

Introduction

Results show significant correlations among variables that shape the values system as well as almost normal distribution for behaviors analyzed. The values system within a family firm act as a moderator of family business behavior. The instrumental values, guides needed for family firm survival, moderating behaviors are Ethic, cohesion and austerity. Los resultados obtenidos muestran correlaciones significativas entre las variables moduladoras del sistema de valores y distribuciones normales en los comportamientos analizados. Members, belonging to a same generation, share equal rules and values allowing the firm to take decision more rapidly (Pieper, T.M, 2010). This rapidness can be a competitive advantage for family business. Success in family firms relies on the ethic compromise of its members, on fair play among family members and on cohesion

Objectives

Results

Discussion

Conclusion