Trust in family businesses: A more comprehensive empirical review

Azizi, Mohammad; Bidgoli, Masood Salmani; Bidgoli, Ameneh Seddighian

doi:10.1080/23311975.2017.1359445

Cited by 19 publications

(14 citation statements)

References 48 publications

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“…Successor's trust in the incumbent is related to the competency, good judgment, support, honesty of information, keeping the words, not taking sides, rewarding, doing the best, willingness to listen to suggestions and opinions (Azizi et al, 2017). This study found that the successor's trust has a positive significant effect on the intention to stay.…”

Section: Discussionmentioning

confidence: 73%

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Sustainability of Family Business: Millennials Intention to Stay in the Family Business as the Result of Stewardship Climate, Mediated by Successor’s Trust and Socioemotional Wealth

Riznika

Kaihatu

2021

JAM

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This research studies the influence of stewardship on the intention to stay in the family business. Successor’s trust and socioemotional wealth are also studied as mediator. The population in this research is Millennials that work in a family business and have prepared as a successor. Samples were taken purposively from family business members of KADIN East Java (Chamber of Commerce). The sample collected was 221. Data were analyzed with Andrew Hayes PROCESS model 4. The result shows that stewardship has a significant positive effect on the successor’s trust, socioemotional wealth, and intention to stay. Successor’s trust and socioemotional wealth have a significant positive effect on the intention to stay. Successor’s trust and socioemotional wealth have a mediating effect on the relationship between stewardship and intention to stay. The findings contribute to the succession strategy in the family business, especially to make Millennials’ successors willing to stay in the family business. The suggestion for future research is to test the effect on different cohorts as Generation Z or different family cultures.

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Section: Discussionmentioning

confidence: 73%

“…In the family business, trust is more toward the leader. Trust is also about expectation and hope (Azizi et al, 2017).…”

Section: Hypothesis Development Successor's Trustmentioning

confidence: 99%

Sustainability of Family Business: Millennials Intention to Stay in the Family Business as the Result of Stewardship Climate, Mediated by Successor’s Trust and Socioemotional Wealth

Riznika

Kaihatu

2021

JAM

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“…While most of these studies are of a conceptual nature, many have presented empirical evidence of either a qualitative (Binz Astrachan & Botero, 2017; Blodgett, Dumas, & Zanzi, 2011; Blombäck & Brunninge, 2013; Blombäck & Ramírez-Pasillas, 2012; Carrigan & Buckley, 2008; Haugh & McKee, 2003; Micelotta & Raynard, 2011; Schwartz, 2005; Steier, 2001) or a quantitative nature (Ahlers, Hack, Madison, Wright, & Kellermanns, 2017; Allen, George, & Davis, 2018; Azizi, Salmani Bidgoli, & Seddighian Bidgoli, 2017; Beck & Kenning, 2015; Binz et al, 2013; Binz Astrachan, Patel, & Wanzenried, 2014; Chrisman, Chua, & Kellermanns, 2009; Chrisman, Chua, & Sharma, 1998; Cruz et al, 2010; Deephouse & Jaskiewicz, 2013; Lude & Prügl, in press, 2018; Lyman, 1991; Orth & Green, 2009). Out of these empirical studies, four focused on the trust among family members (Allen et al, 2018; Chrisman et al, 1998; Haugh & McKee, 2003; Steier, 2001), five focused on trust or trustworthiness among family and nonfamily managers or (potential) employees (Azizi et al, 2017; Chrisman et al, 2009; Cruz et al, 2010; Deephouse & Jaskiewicz, 2013; Lyman, 1991), one study measured private equity firms’ trust of family firms (Ahlers et al, 2017), and one study examined trust in the context of nonprofessional investors (Lude & Prügl, in press). The remaining 12 studies empirically investigated consumers’ perception of a family firm as trustworthy, whereof six relied on statements from family firm managers arguing to communicate the family firm’s nature with the goal to evoke consumers’ trust (Binz Astrachan & Botero, 2017; Blodgett et al, 2011; Blombäck & Brunninge, 2013; Blombäck & Ramírez-Pasillas, 2012; Micelotta & Raynard, 2011; Schwartz, 2...…”

Section: Theoretical Background and Hypotheses Developmentmentioning

confidence: 99%

Family Firm Reputation and Humanization: Consumers and the Trust Advantage of Family Firms Under Different Conditions of Brand Familiarity

Beck

Prügl

2018

Family Business Review

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Pioneering conceptual and empirical work ascribe a trust advantage to family firms compared with their nonfamily analogies. But it remains unknown if this trust advantage persists with varying degrees of consumers’ brand familiarity. Furthermore, the underlying cognitive mechanisms in the minds of consumers that trigger the trust advantage remain unexplored. Using mixed methods, four studies indicate that family firms’ trust advantage does prevail in the context of real and familiar brands, and the strength of consumers’ perception of an organization as a human being (i.e., humanization) explains higher levels of benevolence and trust attributed to family firms.

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“…Previous studies on the topic of marketing as a business function in family-owned companies mostly focus on marketing communication [1], branding [2], and product portfolio-related topics [3]. Not many existing studies seem to focus on customer relationship management (CRM) [4][5][6][7]. The results of worldwide research on family businesses, conducted by consultant company PwC [8], refer to unpredictable market conditions as one of the major external challenges for the future of family businesses.…”

Section: Introductionmentioning

confidence: 99%

Family Business Owner as a Central Figure in Customer Relationship Management

Arsić

Banjević²,

Nastasić³

et al. 2018

Sustainability

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This paper presents theoretical and empirical research on the activities and attitudes of a family business owner regarding marketing as a business function. The development of successful business relationships of a family business is tightly connected with the activities of the business owner. The theoretical review examined numerous family and non-family business studies by analyzing the existing paradigms of marketing management as a whole. The empirical research, surveying 420 family businesses in Serbia, defined the overall role of the family business owner in customer relationship management regarding business-to-business (B2B) and business-to-consumer (B2C) relationships. Key findings suggest that the main difference in customer relationship management (CRM) between family and non-family companies is related to B2B relationships, which the family business owner is heavily involved in managing, in terms of invested time and responsibility. Future research should cover aspects of internationalization (to regional markets) because it is essential to cross-examine regional with local contacts of a family business owner, to provide full comprehension of the complexity of market relationships in a family business environment.

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Trust in family businesses: A more comprehensive empirical review

Cited by 19 publications

References 48 publications

Sustainability of Family Business: Millennials Intention to Stay in the Family Business as the Result of Stewardship Climate, Mediated by Successor’s Trust and Socioemotional Wealth

Sustainability of Family Business: Millennials Intention to Stay in the Family Business as the Result of Stewardship Climate, Mediated by Successor’s Trust and Socioemotional Wealth

Family Firm Reputation and Humanization: Consumers and the Trust Advantage of Family Firms Under Different Conditions of Brand Familiarity

Family Business Owner as a Central Figure in Customer Relationship Management

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