Search results for "Family Business"

Longitudinal approach to publicly held and privately owned family businesses : a financial analysis

2013

The main aim of this thesis is to examine the consequences of the 2007 financial crisis for family and non-family businesses and identify and understand what makes businesses sustainable and profitable even during bad macro-economic conditions. This financial crisis was one of the most significant since the Wall Street Crash of 1929. I will analyze selected companies’ financial statements before, during, and after 2007 financial crisis. My goal is to outline the advantages and disadvantages of family and non-family companies, and moreover, to see which ownership structure weathered the financial crisis better. The analysis in this paper is based on two companies’ financial statements compar…

The Contribution of Family Business Groups to the Local Innovation Environment

2018

Family firms and family business groups and their role in the local business community are largely unexplored territory in the field of family business as well in the field of regional innovation systems. The focus of this chapter is in regional innovation system and particularly in how family firms and family business groups are embedded in this system. The main research question is what is the role of family business groups for the regional innovation system? The present study is also among the first to analyse the intellectual property rights (IPRs) filing activity by family business groups. Descriptive empirical analysis indicates that family business groups are among the top regional i…

Career Paths in Institutional Business Elites: Finnish Family Firms from 1762–2010

2015

This article analyzes the career paths of family business executives in institutional business elites in Finland using an empirical database based on a Bourdieusian prosopographical approach. The results indicate that career paths became more complex but shortened in length toward the beginning of the twenty-first century. The early career paths of family executives changed from positions as assistants and salesmen in the eighteenth and nineteenth centuries to governance, chief executive officer (CEO), and management positions in the twentieth and twenty-first centuries. Compared with the founder generation, next-generation family members benefited from more rapid institutional business eli…

The business elite in Finland: a prosopographical study of family firm executives 1762–2010

2015

This study presents a prosopographical analysis of the Finnish business elite. The longitudinal panel dataset includes 456 members of family firms from 1762–2010 who have received the honorary title of counsellor in Finland. Counsellor biographies have been written by an economic history association network of 130 historians. Most family firms are no longer elite after the third generation of the family business or the second counsellor generation; therefore, the same core families rarely remain part of the economic elite for more than 100 years.

Prologue

2011

Internationalization via strategic alliances in family businesses.

2004

It has been observed in previous studies that certain characteristics of family businesses may impede internationalization. These characteristics include the concentration of decision-making in the hands of a single shareholder or small group of shareholders, delays in the succession process, aversion to internationalization, etc. Despite these obstacles, a large number of family businesses have chosen to internationalize as a means of revitalizing themselves. The results of the study reported here indicate three important pre-requisites for family businesses that are seriously considering internationalization as an aid to growth: they need to have a market-leading product, adequate financi…

The Early Entrepreneurial Stage in Finnish Family and Nonfamily Firms

2000

This study examined factors influencing the survival and success of 200 Finnish family and nonfamily firms in the metal-based manufacturing industry and business services over the first three years of their operation. The features that this study reviewed include owner-manager personality attributes, entrepreneurial competence, and motives for the start-up. Strategic choices of the firms were also examined. The study found that family firms were better equipped to survive beyond the early entrepreneurial stage than were nonfamily businesses. The entrepreneurial abilities and resources of the family business owners enabled them to operate relatively successfully in the nearby market, often w…

The practice-driven evolution of family business education

2007

Abstract Starting from Calder's dissertation in the early fifties, key developments in family business education are presented in a 130-item chronology. The emergence of the field is tracked to the demand from practitioners rather than the pull of scholarly inquiry. Causal evolutionary drivers of variation, selective retention, and struggle for survival, provide a framework for understanding the past and current status of the knowledge base for family business and hinting at future development. The critical role of infrastructure – family business centers and professional associations – is evident in the path dependent evolution and growth of the field. Although the last two decades have wi…

When does family involvement produce superior performance in SME family business?

2016

Abstract This study analyzes how family involvement leads to high performance in SME-family businesses (SME-FB). This research considers family involvement in management and firm governance, development of family governance, firm size, generations in FB, and ownership concentration. Results show three combinations that lead to high performance: 1) a large-enough SME-FB with a family CEO and a board with significant presence of non-family directors; 2) a large-enough SME-FB in its first generation, without family government structures, and that a non-familial top managerial team runs; 3) a large-enough SME-FB with low ownership concentration and family governance structures.

¿Conduce la internacionalización al éxito de una empresa familiar?: aplicación al sector textil

2015

Este trabajo analiza los efectos de la internacionalización en el éxito de las empresas familiares, entendiendo el éxito como un constructo que engloba tanto los resultados empresariales (indicadores financieros, tales como ventas y beneficios), como indicadores de desempeño (satisfacción de clientes, calidad y reputación percibida, capacitación de los trabajadores, etc.). Para ello, 154 gerentes de empresas textiles españolas de carácter familiar fueron encuestados vía postal, respecto a tres grandes bloques de cuestiones: (i) actividad internacional desarrollada, (ii) resultados financieros alcanzados y (iii) indicadores de desempeño obtenidos. El análisis discriminante planteado para com…