Family Business Research Articles

Family Priority or Business Priority? Impact of Family Involvement on ESG Performance

Family Priority or Business Priority? Impact of Family Involvement on ESG Performance

Community and Commerce

“‘Where Do We Go from Here?’: Histories of Long-term Black Business Ownership, Community, and Family in Los Angeles County” is an oral history project of African American business owners conducted by the UCLA Center for Oral History Research. This report describes the design and implementation of the project, the challenges of outreach, and the ways in which narrators participated and negotiated their own agendas and investments in the project. It also argues for the importance of business oral history as a means of documenting African American community and social history. As this project shows, business oral histories can record the daily particulars of small business’s operations and the challenges business owners face, offer insight into the legacy of African American multi-generational businesses, demonstrate the on-going impact of racism and segregation on Black-owned businesses, and give evidence of how Black business owners conceive their relationship and responsibilities to the African American community.

Why Being Good Matters: The Impact of CSR and Family Business Brand on Organizational Attractiveness

Why Being Good Matters: The Impact of CSR and Family Business Brand on Organizational Attractiveness

Not for Me: Parents’ Entrepreneurial Struggles and Children’s Family Business Succession

Not for Me: Parents’ Entrepreneurial Struggles and Children’s Family Business Succession

How Do You Feel? A Systematic Review on Affect in Family Business Research

How Do You Feel? A Systematic Review on Affect in Family Business Research

The Unseen Part of Successions: Exploring the Mental Well-Being of Family Business Successors

The Unseen Part of Successions: Exploring the Mental Well-Being of Family Business Successors

A Grounded Model of How Refugee Family Businesses Build Entrepreneurial Ecosystems

A Grounded Model of How Refugee Family Businesses Build Entrepreneurial Ecosystems

Digitalization in Asian Family Business: A Systematic Review (WITHDRAWN)

Digitalization in Asian Family Business: A Systematic Review (WITHDRAWN)

Double Diasporas Family Businesses: The Case of Trans-Generational Asian Tanzanians Conglomerates

Double Diasporas Family Businesses: The Case of Trans-Generational Asian Tanzanians Conglomerates

What Aids or Hinders the Succession Intentions of Daughters of Family Business Owners?

What Aids or Hinders the Succession Intentions of Daughters of Family Business Owners?

Phoenix Rising: The Owner’s Journey of Family Business Sale and Revival Through Ownership Competence

Phoenix Rising: The Owner’s Journey of Family Business Sale and Revival Through Ownership Competence

Predicting business performance: The role of budgeting techniques, cash management strategies and rational financial decision making

In today’s business environment, organizational leaders needs to understand the nature of business performance from the lens of new perspective relevant to the practices in financial management. The purpose of the study is to discuss the importance of budgeting techniques, cash management strategies and rational financial decision making in the arena of family businesses in the Philippines. The researcher aims to determine several factors that are involve to achieve desired business performance. Using the G*Power version 3.1.9.4, the total sample size needed for this study is 77. The members of sample size were selected via purposive sampling from the population. The researcher used a partial least squares structural equation modeling (PLS-SEM) to test the hypothesis and model. The findings indicated that cash management strategies (beta=0.519, t= 5.629, p=0.000) and budgeting strategies (beta=0.469, t= 5.459, p=0.000) has significant relationship with business performance while rational financial decision making (beta=-0.099, t=1.274, p=0.203) failed to achieve significant relationship. Considering cash management strategies as a mediating variable (beta=0.564, t=1.652, p=0.099) shows no indirect effect between rational financial decision making and business performance. In order for the rational financial decision making works with business performance, people performing managerial approach should factor the mediating role of budgeting techniques (beta=0.154, t=2.167, p=0.015) as the results shown a positive, though non-significant, the indirect effect on the relationship between rational financial decision making and business performance. The findings of the study can be the basis of people in the leadership position to arrive on a holistic view that business performance is a combination of financial and non-financial factors and a good grasp on single financial approach is not sufficient.

The present and future of micro, small, and medium enterprises from a holistic perspective

The study of micro, small, and medium enterprises (msmes) reveals a significant het-erogeneity in approaches, reflected in multiple perspectives such as social, administra-tive, economic, among others. This diversity has driven the application of a wide range of techniques and methodologies, from qualitative research to quantitative studies. Research on msmes in a post-pandemic scenario is multidisciplinary and adaptable to the complexities of the sector, enriching our current and future understanding of these enterprises. Furthermore, the global perspective of business internationalization stands out in a context of value chain integration and nearshoring, while local issues such as family business management and support for social enterprises are also crucial for their development. This duality highlights the need for ongoing dialogue among different academic studies on msmes to effectively address the challenges and oppor-tunities in this constantly evolving sector.

DEMOGRAPHIC, ECONOMIC AND PSYCHOLOGICAL DRIVERS OF WOMEN'S PARTICIPATION IN RURAL TOURISM IN DARJEELING DISTRICT, WEST BENGAL, INDIA

Rural tourism has gained global popularity, with varying characteristics across regions. This study explores the demographic, economic, and psychological factors influencing women's participation in rural tourism in Darjeeling, West Bengal, India. Despite its proximity to Sikkim, Darjeeling remains under-researched, particularly regarding women's motivations. Data from 200 women, including 50 in the hospitality sector, were collected via a pre-tested, interviewer-administered questionnaire to understand the push factors for their involvement. The analysis shows that middle-aged, married women with secondary or less education dominate the rural tourism workforce. Their primary motivations are economic need, improved educational opportunities for their children, and escaping socioeconomic challenges. Significant economic drivers include contributing to family businesses and achieving financial independence. Psychological factors, such as improving living conditions and securing future stability, also play a crucial role, though aspirations for leadership and decision-making are less prominent due to cultural norms. The findings highlight rural tourism's critical role in providing employment and empowerment opportunities for women in Darjeeling. Enhancing participation and empowerment requires addressing economic and psychological needs, improving income levels, supporting leadership roles, and fostering greater family decision-making power. These efforts can strengthen women's involvement in rural tourism, boosting their socioeconomic development and quality of life.

Speaking Up to the Boss: The Effects of Top Management Team Members' Felt Trust and Perceived CEO Trustworthiness on Voice Behaviour in Family Firms

AbstractDespite the important role of top management team (TMT) voice, the innate risks and vulnerabilities involved often dissuade TMT members from openly expressing their views to the chief executive officer (CEO). This is especially the case in family firms, where the CEO is often a family member and familial ties regularly take priority over ties with individuals from outside the family (i.e., non‐family members). In this article, we focus on the role of trust as a potential enabler of TMT voice in family firms. Primary matched triadic data from CEOs (n = 79) and family and non‐family TMT members (n = 158) in 79 family firms demonstrate that trust perceptions (feeling trusted by the CEO and perceptions of CEO trustworthiness) have a positive effect on TMT voice behaviour and perceived job performance. Interestingly, this positive effect is significant only for non‐family members, suggesting trust perceptions are more imperative for non‐family TMT members when it comes to speaking up to the boss. A main implication for scholarship at the interface of trust and family business is that our nuanced, and in some instances counterintuitive, findings suggest traditional theories and approaches to studying trust may not apply to family firms. We also discuss practical implications of our findings.

Factors influencing the adoption of management accounting practices among Albanian family businesses

Factors influencing the adoption of management accounting practices among Albanian family businesses

Osmice at the crossroads: the dialectical interplay of tradition, modernity and cultural identity in family businesses

Purpose This study aims to explore the dialectical interplay between traditional roots and contemporary challenges faced by family businesses, specifically focusing on “Osmice” (in Slovenian; in Italian, “Osmize”), which are family enterprises that embody the cultural and historical heritage at the intersection of Italy and Slovenia. In particular, the purpose of this study is to understand how these businesses, deeply rooted in the communal life of the Karst region, evolve amidst changing social, economic and cultural landscapes. Design/methodology/approach Building on an alternate template analysis, the research includes the examination of archival data and 34 in-depth narrative interviews. This approach captures details about the historical establishment, persistence and evolution of Osmice, with a particular focus on their ways of facing contemporary challenges while preserving their traditional roots. Findings The findings reveal that Osmice navigate the tension between past and present through high sensitivity to the cultural identity of the land in which they are embedded. Thus, the study interprets these dynamics through a dialectical lens as the synthesis of preserving traditional roots and adapting to contemporary challenges, articulated through a particular sensitivity to cultural identity. Originality/value This investigation contributes to the discourse on how family businesses can maintain their traditional roots while adapting to contemporary challenges. It offers novel insights into the role of cultural identity in balancing tradition and modernity. Through this lens, the study underscores the capacity of family businesses such as Osmice to thrive amidst change, providing implications for both theory and practice in the field of business studies.

The impact of entrepreneurs’ wives participating in corporate management on company risk-taking

To investigate the influence of spouses of business leaders on corporate decision-making behavior, we use data from 2003 to 2019 from Chinese listed family-controlled companies to examine the impact of entrepreneurs’ wives participating in corporate management on the risk-taking of family businesses. We found that entrepreneurs’ wives participating in company management significantly reduce the risk taking of family businesses, particularly when the wife is a shareholder in the company. Additionally, the wife’s age, level of education, and professional experience also affect her attitude and behavior toward participating in company management. When the wife is older and has a higher degree of education, the risk taking of the enterprise decreases. However, the wife’s rich professional experience can mitigate female conservatism and increase the company’s risk taking. Our research has implications for understanding gender differences in the context of the extension of marital power of Chinese entrepreneurs’ wives from the family to corporate decision-making and risk preferences. This helps to deepen our understanding of the role and status of women in China’s family business management.

When Is a Family Business Leader Too Old?

When Is a Family Business Leader Too Old?

Exploring Key Elements for Achieving Intergenerational Family Business Succession in the Chinese Context

In the rapidly evolving Chinese economy, family-owned businesses, integral to the nation's GDP and innovation, face a significant challenge with an impending wave of intergenerational succession. With over 5.5 million such businesses, less than 20% have identified successors, and only 6% have established succession plans. This study examines intergenerational succession in these businesses, applying Handler's (1989) satisfaction and effectiveness framework, alongside Pyromalis et al. (2006)'s model. The research, conducted through interviews with second-generation owners, aims to uncover factors influencing succession satisfaction and effectiveness. Key findings highlight the unique impact of Chinese cultural values on the succession process. Unlike expectations, the reluctance of incumbents to relinquish control isn't a source of frustration for successors, reflecting the cultural emphasis on respect and deference to elders. The study broadens its scope beyond family dynamics to stakeholder relationships, acknowledging their importance in succession. This research merges theoretical and empirical analyses, adapting a Greek-tested model to the Chinese context, thus enhancing its global relevance. It provides insights into Chinese family business succession, shaped by cultural norms, and demonstrates the versatility of Western models in diverse cultural landscapes, enriching the understanding of global family business succession.