Differentiating value orientations and unity in values as predictors of varying family business system processes

Peterson, Preston; Distelberg, Brian

doi:10.1016/j.jfbs.2011.10.004

Cited by 15 publications

(4 citation statements)

References 47 publications

(113 reference statements)

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“…In that way, board members can ensure that their meetings cover matters of particular importance to the family for instance the timely preparation of the succession event in order to ensure the continuity of the firm (Gallo and Kenyon-Rouvinez 2005). Thus, through the alignment of the interests of family members and the creation of mutual trust, FGP can foster board monitoring and counseling activities (Mustakallio et al 2002;Peterson and Distelberg 2011). Altogether, the rules of the game are defined by the family members in the FGP.…”

Section: Fgp and The Board Of Directorsmentioning

confidence: 99%

Succession planning in family firms: family governance practices, board of directors, and emotions

et al. 2018

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This study builds on implementation intention theory to indicate that both business and family governance practices influence the succession planning process in family firms. In addition, this study draws on goal adjustment theory to explore whether the family CEO's emotions, being his or her inability to let go of the family firm, hamper the governance decisions of the board of directors concerning that succession planning process. Applying a moderated mediation analysis on a sample of 225 family firms, results show that board involvement in the succession process mediates the positive relationship between the use of family governance practices and the level of succession planning. In addition, the family CEO's inability to let go negatively moderates this mediating relationship which signifies that emotions influence governance outcomes in family firms.

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Section: Fgp and The Board Of Directorsmentioning

confidence: 99%

Succession planning in family firms: family governance practices, board of directors, and emotions

et al. 2018

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“…As the family councils have a pivotal role in the business, the family business may concern family unity by creating formal processes within the family system (Peterson and Distelberg, 2011). In some cases, family members need to have experienced at different firms before joining the company that belongs to their family.…”

Section: Literature Reviewmentioning

confidence: 99%

From family business orientation to organisational citizenship behaviour: prosocial behaviour in family business performance

Pratono

Han

2021

JFBM

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PurposeThis article seeks to understand the role of prosocial behaviour and moral obligation in family business to explain the indirect relationship between family business orientation and citizenship behaviour.Design/methodology/approachThis study proposes a model to examine the role of moral obligation and prosocial behaviour in such a relationship to understand a link between family orientation and organisational citizenship behaviour. The authors provide empirical evidence to test the hypothesis by conducting an online survey of family business behaviour in the Indonesia context.FindingsThe family business orientation has a significant impact on citizenship behaviour, while prosocial behaviour and moral obligation offer an additional contribution. The results suggest that family business performance demonstrates how a family that owns the business sets the social purposes from various performance alternatives beyond profit, such as family orientation, prosocial behaviour, moral obligation and organisational citizenship behaviour.Originality/valueThis study extends the agency and stewardship theory by examining how family business performance becomes different from other firm performance where the mainstream of economic theory argues that the business attempts to maximise profit for the stakeholders. The findings suggest that incorporating the theory of social practice in family business enhances the concept of prosocial behaviour in family business value.

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“…Values and principles may be even more salient in the schemata of a family business. Indeed, values are often strong and strictly adhered to in family businesses (Chrisman et al, 2005;Chirico et al, 2011;DeTienne and Chirico, 2013); "family first" values inform family business decision-making with regard to systems and processes (Peterson and Distelberg, 2011). Family firms are often based on principles that transcend profit motive and efficiency concerns.…”

Section: 1mentioning

confidence: 99%

An image theory of strategic decision-making in family businesses

Penney

Vardaman

Marler

et al. 2019

JFBM

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Purpose Research suggests family businesses often pursue risky or aggressive strategies despite the desire to preserve socioemotional wealth (SEW), which is thought to lead to conservativism in family firm strategic decision making. The purpose of this paper is to resolve this apparent contradiction by presenting a model that describes the screening criteria used by family business decision-makers when evaluating strategic opportunities. Design/methodology/approach The conceptual model relies on insights derived from image theory to resolve apparent contradictions inherent in the SEW perspective’s implications for family firms’ risky strategic decisions. Findings The proposed model suggests new strategic opportunities in family firms are evaluated through an unconscious, schema-driven decision process and that the preservation of SEW does not preclude risky strategic directions, but instead serves as an unconscious screening criteria for strategic opportunities. Originality/value This paper contributes to the literature by expanding the understanding of family-firm strategic decision-making to include considerations of the decision’s fit with the family’s principles, goals and strategic plan rather than solely to overall risk to SEW. Thus, the paper presents a detailed model of family-firm strategic decision-making that relies on insights from image theory.

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Differentiating value orientations and unity in values as predictors of varying family business system processes

Cited by 15 publications

References 47 publications

Succession planning in family firms: family governance practices, board of directors, and emotions

Succession planning in family firms: family governance practices, board of directors, and emotions

From family business orientation to organisational citizenship behaviour: prosocial behaviour in family business performance

An image theory of strategic decision-making in family businesses

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