The F-PEC Scale of Family Influence: A Proposal for Solving the Family Business Definition Problem

Factors determining exportation and internationalization in family businesses: The importance of debt

“…However, this definition does not include a third notion that is also of considerable importance: the will that the company remain over time and be passed on to future generations (Zhara, 2003;Casillas & Acedo, 2005;Crick, Bradshaw & Chaudry, 2006). It may therefore be basically defined as a business in which members of one or various families share, to a great extent, capital, management responsibilities, and the intention of passing the business on to future generations (Gallo, 1995;Astrachan, Klein & Smyrnios, 2002;López-Cózar & Priede, 2009). …”

Family entrepreneurship as a field of research: Exploring its contours and contents

“…For example, the family embeddedness perspective delves into the space where entrepreneurship and 3 family overlap (e.g., Aldrich & Cliff, 2003;Astrachan, Klein, & Smyrnios, 2002), corporate entrepreneurship in family businesses sheds light on the space where entrepreneurship and family business overlap (e.g., McKelvie, McKenny, Lumpkin, & Short, 2014), and family entrepreneurial teams (Schjoedt, Monsen, Pearson, Barnett, & Chrisman, 2013) or copreneurship (Barnett & Barnett, 1988;Hedberg & Danes, 2012) contribute to a better understanding of the space where family and family business overlap. We suggest here that the exploration of family entrepreneurship, as the junction of three fields, is greatly needed as can be witnessed by the weight of each of its components.…”

“…They are motors of creation of business revenue: in the US, family firms represent (depending on the definition adopted, Astrachan, Klein, Smyrnios, 2002) from 29% to 64% of the GDP (Astrachan, Zahra, & Sharma, 2003). Family firms continue to grow even in poor economic environments and they are less likely to lay off employees regardless of financial performance (Stavrou, Kassinis, & Filotheou, 2007).…”

The Benefits of Family Ownership, Control and Management on Financial Performance of Firms

“…choosing a more or less arbitrary family business definition, and secondly regresses this definition on performance indicators. Nevertheless an approach to rectify this has been suggested by Astrachan, Klein & Smyrnios (2002) and validated by Klein, Astrachan & Smyrnios (2005).…”