The Landscape of Family Business Outcomes

2011 ◽  
Vol 25 (1) ◽  
pp. 33-57 ◽  
Author(s):  
Andy Yu ◽  
G. T. Lumpkin ◽  
Ritch L. Sorenson ◽  
Keith H. Brigham
Keyword(s):  
Family Business ◽  
Family Dynamics ◽  
Two Dimensions ◽  
Theoretical Development ◽  
Short Term ◽  
Business Outcomes ◽  
Business Studies ◽  
The Family ◽  
Business Family

To promote theoretical development in family business research, this research identified 327 dependent/outcome variables used in 257 empirical family business studies in 1998-2009. In four studies, the authors categorized outcome variables, developed a numerical taxonomy with seven clusters (performance, strategy, social and economic impact, governance, succession, family business roles, and family dynamics) plotted along two dimensions (business–family and short-term–long-term), validated their research, and identified missing outcome variables and variables that deserve more attention. Experts agree that family business roles, succession, and family dynamics make the family business domain unique and that noneconomic performance and family-specific topics deserve more attention.

scholarly journals Family Cohesion as a Longevity Factor of Business with Intergenerational Transmission

2014 ◽  
Vol 15 (4) ◽  
pp. 791-819 ◽  
Author(s):  
FCO. Javier Fernández-Roca ◽  
Jesús D. López-Manjón ◽  
Fernando Gutiérrez-Hidalgo
Keyword(s):  
Intergenerational Transmission ◽  
Family Business ◽  
Family Cohesion ◽  
Business History ◽  
Intergenerational Transfer ◽  
Critical Response ◽  
Original Plan ◽  
The Family ◽  
Business Family

This article contributes to a line of research in Business History that aims to determine the factors of family business longevity in the long term with the study of individual cases. The literature has identified family cohesion as one of the essential factors for survival. Cohesion may be reinforced or broken at the time of the intergenerational transfer. This study finds that a critical response on the part of the business family to the difficulties associated with intergenerational transfer of control, including modifications to the original plan, is usually based on trust between generations. Within the business family cohesion facilitates intergenerational transfers and, consequently, allows the family to evolve and transform itself into a business dynasty.

scholarly journals GOVERNABILIDADE NA FAMÍLIA EMPRESÁRIA / GOVERNABILITY IN THE FAMILY BUSINESSES

2020 ◽  
Vol 6 (1) ◽  
Author(s):  
Jorge Rodrigues
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Research Strategy ◽  
Integrative Model ◽  
Exploratory Research ◽  
Theory Of Practice ◽  
The Family ◽  
Structured Knowledge ◽  
Business Family

O artigo pretende estabelecer o estado da arte da governabilidade na família empresária. Ao rever a literatura pertinente sobre o campo família empresária contribui-se para a construção de conhecimento organizado e estruturado, para compreender melhor os conceitos subjacentes. Prosseguiu-se uma estratégia de investigação exploratória a qual se socorreu da “teoria da prática” de Bourdieu, para que surja uma visão inovadora do que se passa no campo em análise. Este é um tema complexo e multifacetado que pretende equilibrar os poderes soberano, executivo e de fiscalização, entre a família empresária e o negócio de família. Aquele equilíbrio depende dos estádios de desenvolvimento da família e envolve as estruturas, os processos e políticas que lhe dão forma. Como principais contributos aponta-se para um conjunto de questões centradas nos relacionamentos dos vários membros da família empresária e o modo como esta está comprometida e envolvida no sucesso do negócio a longo prazo. Estas questões destinam-se a ser incluídas num modelo integrador de governabilidade, suficientemente genérico e abrangente para que possa ser aplicado a qualquer tipo de família empresária. This article aims to establish the state of the art of governability in the family business through a literature review. Carrying out an exploratory research strategy of the field of family firms and family business, based on Bourdieu's "theory of practice", it enabled us to better understand the conceptualizations of family business, its underlying concepts and or assumptions, and hence contribute to the construction of organized and structured knowledge in this field. This is a complex and multifaceted theme that aims to balance the sovereign, executive and supervisory powers between the family business and with your own business. Some of our main contributions are: that balance depends on the stages of family development and it involves the structures, processes and policies that shape it, the effect of the relationships of the several members of the family business, and its commitment and involvement in the success of the business in the long-term success. These issues are intended to be included in an integrative model of governability, sufficiently generic and comprehensive so that it can be applied to any type of business family. JEL: D21, D23, G30, L14, L20 <p> </p><p><strong> Article visualizations:</strong></p><p><img src="/-counters-/edu_01/0720/a.php" alt="Hit counter" /></p>

scholarly journals MENEJMEN RISIKO DALAM PERFEKTIF ISLAM

2017 ◽  
Vol 5 (1) ◽  
Author(s):  
Supriyo Supriyo
Keyword(s):  
Risk Management ◽  
Production System ◽  
Human Life ◽  
Short Term ◽  
Islamic Perspective ◽  
The Family ◽  
The Future ◽  
Short Run ◽  
A Company

Human life with all its activities in order to meet the needs of life always will always faced the possibility of risk either directly or indirectly, can occur in the short term or long term. A possibility of the occurrence or risk had certainly will affect the activity to be done And adversely affect the economy of a family and even a company, if the risks that occur have a vital impact on the family or an organization. Many failures within a company's organization are due to unforeseen risks occurring as for example the company never thinks that a newly established company is still in the short run abruptly because a workforce lacking control in the production system creates a great fire and spends all and has a bad impact For the economy of a family and even a company, if the risks that occur have a vital impact on the family or an organization. Many failures within a company's organization are due to unforeseen risks occurring as for example the company never thinks that a newly established company is still in the short run abruptly because a workforce lacking control in the production system creates a terrible fire and consumes all the company's assets Newly established. Everyone or anyone else would not want the incident to happen and befall themselves and his business in the future. Keywords: Islamic perspective, Risk management

scholarly journals Lalabet Financial Analysis: Study of Islamic Economics at Micro Level

2021 ◽  
Vol 4 (1) ◽  
pp. 233-244
Author(s):  
Ainorrofiqie Ainorrofiqie ◽  
Umrotul Khasanah ◽  
Akhmad Djalaluddin
Keyword(s):  
Financial Management ◽  
Financial Analysis ◽  
Financial Statements ◽  
The Body ◽  
Short Term ◽  
The Family ◽  
Micro Level ◽  
The Impact ◽  
The Village

This research aims to explore the model of financial management tradition Lalabet in the village of Babbalan District Batuan Sumenep. This study is based on the fact that occurred in the community about the implementation of traditions carried out by the heirs to family members who died. Interpretative qualitative research is used and an in-depth understanding of a problem that occurs is emphasized more. Based on the results of this study, the financial management tradition Lalabet can be done based on accounting equations. The accounts contained in the accounting equation is not used in its entirety and are reported as are generally financial statements. In this case, the source of funds in carrying out Lalabet tradition is sourced from personal money, money and donations from the family, money from Muslimat, debt, and money or goods from Lalabet's proceeds. The impact is the onset of debt both short-term and long-term. While the expenditure is in the form of costs in taking care of the body, costs for tahlilan (petto'arean), pa'polo, nyatos, nyataon, nyaebu, mangaji, ngin-tangin, nyalenin mayyid, and ajege makam (kep-sekep).

scholarly journals Celebrity Couples as Business Families: A Social Network Perspective

2021 ◽  
pp. 089448652110503
Author(s):  
Yasaman Gorji ◽  
Michael Carney ◽  
Rajshree Prakash
Keyword(s):  
Social Networks ◽  
Social Relationships ◽  
Family Business ◽  
Economic Capital ◽  
The Family ◽  
Hollywood Movies ◽  
Career Performance ◽  
Business Family ◽  
Production Industry

We depict Hollywood celebrity couples as business families who participate in the project-based movie production industry, which is a temporary and disaggregated form of organization where skilled individuals are linked to one another through contractual and social relationships. Appearing in Hollywood movies generates celebrity capital, which can be converted into economic capital through involvement in endorsements and other rent-generating activities. Finding projects is facilitated by membership in high-quality social networks, and we consider celebrity marriage as a means of merging two individuals’ social networks, which can be mutually beneficial for both parties. We develop and test three hypotheses about the quality of social networks prior to and after marriage and analyze their impact upon celebrities’ postmarriage career performance. We contribute to the family business literature by exploring hybridized and adaptive forms of business family in contemporary project industries, which has the potential to enlarge family business scholars’ research horizons.

Strong governance: a result of evolutionary and revolutionary processes

2014 ◽  
Vol 4 (2) ◽  
pp. 99-109 ◽  
Author(s):  
Lorna Collins ◽  
Ken McCracken ◽  
Barbara Murray ◽  
Martin Stepek
Keyword(s):  
Family Business ◽  
Best Practice ◽  
Family Dynamics ◽  
Family Businesses ◽  
Formal Structure ◽  
Governance Mechanisms ◽  
Content Type ◽  
The Family ◽  
The Uk ◽  
The Impact

Purpose – This paper is the first in a regular series of articles in JFBM that will share “a conversation with” thought leaders who are active in the family business space. The world of family business is, like many other arenas, constantly evolving and as the authors learn more about how and why families “do business” the approaches and tools for working with them also evolve. The purpose of this paper is to stimulate further new research in areas that practically affect family businesses and to “open the door” to practical insights that will excite researchers and provide impetus for new and exciting study. The specific purpose of this paper is to explore “what is strong governance.” There has been much interest in governance lately yet there is a tendency to treat governance in a formulaic way such that, at the moment, the notion that every family business must have a family council or a formal structure in order to be considered “effective” and “successful” predominates. The authors’ panel challenges and discusses this notion drawing on the experience and knowledge as family business advisors, consultants and owners. Design/methodology/approach – The impetus for this particular conversation is a result of a brainstorming conversation that Lorna Collins and Barbara Murray held in February 2014 where they focussed on “how JFBM can encourage and stimulate researchers to engage in aspects of research that makes a difference to the family business in a practical way.” This paper reports a conversation between Barbara Murray (Barbara), Ken McCracken (Ken) and Martin Stepek (Martin), three leading lights in the UK family business advising space, all of whom have been involved in running or advising family businesses for more than three decades, held in August 2015. The conversation was held via telephone and lasted just over 60 minutes. Lorna Collins acted as moderator. Findings – Strong governance is not just about instituting a “family council” or embedding formal governance mechanisms in a family business. Evolutionary adaption by family members usually prevails such that any mechanism is changed and adapted over time to suit and fit the needs of the family business. Many successful family businesses do not have recognized “formal” governance mechanisms but, it is contended, they are still highly successful and effective. Future areas of research in governance are also suggested. Originality/value – This paper contributes to the family business discourse because the debate it reports challenges the basic assumptions upon which much consulting and advisory practice is conducted. It also challenges the notion of “best practice” and what is “new best practice” and how is it that any “best practice” is determined to be “best.” Furthermore, the panel provides insights in to the “impact of family dynamics on governance” and “the impact of family dynamics on advisors.” The paper content is original in that it provides an authentic and timely narrative between active family business practitioners who are also scholars and owners.

USE OF REGRESSION ANALYSIS IN FORECAST TASKS

2020 ◽  
pp. 22-27
Author(s):  
E.S. Lartseva ◽  
◽  
A.D. Kuznetsova
Keyword(s):  
Regression Analysis ◽  
Animal Population ◽  
Short Term ◽  
Statistical Estimates ◽  
Term Forecast ◽  
Applied Software ◽  
The Family ◽  
The Russian Federation

Based on official statistics on the number, of representatives of the family of non-ruminant cloven-hoofed animals (Artiodactyl) on the territory of the Russian Federation. Using the example of two species: domestic pigs and wild boars, the dynamics of the indicator for the long term is analyzed. Multidirectional trends were revealed for each species. Mathematical models of the dynamics of the livestock were obtained using the methods of regression analysis and applied software. Statistical estimates of the quality of animal population models were obtained. The short-term forecast for 2020 has been fulfilled.

scholarly journals Personal Finance Knowlegde and Practice: An Opinion Survey with Employed and Self-employed People in Pokhara

2012 ◽  
Vol 7 (1) ◽  
pp. 80-99
Author(s):  
Puspa Raj Sharma ◽  
Yub Raj Bohara
Keyword(s):  
Financial Literacy ◽  
Financial Planning ◽  
Sampling Method ◽  
Personal Finance ◽  
Financial Knowledge ◽  
Short Term ◽  
Business Studies ◽  
Personal Finances ◽  
Knowledge And Practice

The ability to manage personal finances has become increasingly important in today's world. People must plan for long - term investments for their retirement and children's education. They must also decide on short - term savings and borrowing for daily life like a down payment for a house, a car loan, and other big - ticket items. Additionally, they must manage their different risk and insurance needs. This is might be the first survey about 'Personal Financial Knowledge and Practice' survey was conducted in 2011 with employed and Self-Employed people in Pokhara, Nepal. The survey revealed encouraging findings about how Employed and Self-Employed people of Pokhara approach money matters. This Personal financial literacy modeling research has been attempted to measure the literacy of Personal Finance with respect to their financial knowledge of different financial instrument and their practice or investment decisions. This study is based on stratified random sampling method with the help of financial literacy related parameters. This study has the intention to explore the skills of financial literacy; hence the objective was to test the basic financial knowledge of key products that is common to current society. In general, both categories have fairly healthy attitudes towards basic money management, financial planning and investment matters. Minorities of respondents of both categories save, monitor their spending and are generally responsible in the use of credit. Most of the respondents recognize the importance of financial planning and have done some basic financial planning.The Journal of Nepalese Business Studies Vol. Vii, No. 1, 2010-2011Page : 80-99Uploaded date: July 8, 2012

scholarly journals Nurturing and Transferring Entrepreneurship in Thai Business Families

2018 ◽  
Vol 5 (1) ◽  
pp. 23 ◽  
Author(s):  
Rungluck Naksung ◽  
Opas Piansoongnern
Keyword(s):  
Family Business ◽  
Parental Support ◽  
Developmental Stages ◽  
Structured Interview ◽  
Business Practices ◽  
The Family ◽  
Two Factors ◽  
Parental Family ◽  
Business Family ◽  
Thai Business

This research aims (1) to investigate patterns and phenomena of entrepreneurship formation in Thai business families; (2) to investigate practices of parent (the founders/predecessors of the business family) in nurturing and transferring entrepreneurship to their family members (successors); and (3) to build a model for nurturing and transferring entrepreneurship in Thai business families. The Semi-structured interview was used for collecting data from key informants who are potential successors of Thai business families. Eighteen potential family business successors participated in the interview. The study revealed that entrepreneurship in the Thai business families has been emerged since childhood developmental stages. The key practices of the Thai business families used for creating family entrepreneurship are: (1) Parental role modeling; (2) Parental family business practices; and (3) Parental support. However, the study disclosed and indicated that the founder or predecessor should build the family infrastructure before implementing any key practices. In this regard, the intellectual and mental factors were found as key elements. According to the findings, to be effective, these two factors must be created simultaneously.

scholarly journals Economic internationalization and the decline of the left–right dimension

2019 ◽  
Vol 25 (1) ◽  
pp. 36-49
Author(s):  
Emiliano Grossman ◽  
Nicolas Sauger
Keyword(s):  
Voting Behavior ◽  
Western Europe ◽  
Two Dimensions ◽  
Short Term ◽  
Economic Openness ◽  
Foreign Investments ◽  
Economic Exchanges ◽  
European Election ◽  
The Impact

This article examines the continuing importance of the left–right dimension for voting behavior in Western Europe. We test the extent to which economic internationalization may affect the capacity of this dimension to structure party preferences. We explore two dimensions of internationalization, long-term openness and short-term changes, assessing, respectively, the impact of international trade and foreign investments on voters’ preference formation. To study the influence of changing context, we use four waves of the European Election Study (1999, 2004, 2009, and 2014). We show that openness to international economic exchanges tends to weaken the left–right cleavage. At the same time, long-term economic openness appears to soften the impact of short-term shocks for the relevance of left–right politics.

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