The benefits of family ownership and control of firms are at the center of the family firm debate. Previous studies have used either family ownership or management as proxies for control. Both indicators are off the mark, as they do not measure decision control as intended by the theory of the...

The professional firms suffer from exogenous problems whereas the private family firms suffer from endogenous problems. This latter category is more common in the family firms of emerging markets. Based on a sample of 157 firms we examine the key characteristic differences in the managerial...

A growing number of articles emphasise the importance of establishing an effective system of family governance, and a synthesis of the existing literature on family governance mechanisms (henceforth FGM) seems timely and relevant. Therefore, by focusing on three FGM (family meetings, family...

This paper investigates the factors that lead a family business to name a successor for the business, as the succession process often begins with naming a successor. We further separate family businesses into farm and non-farm businesses to compare and contrast the results. The factors used in...

Business families - families with an established track record in developing businesses - are a key facet of communities. Space, defined here as the freedom to live and develop as you wish is, it is argued, one vital facet in the start-up and development of businesses which family may provide,...

This study is analysing non-family employees' perceptions on psychological ownership during the family business succession process. Three small family companies were chosen for the multiple case studies. The results of this study show that non-family employees are participating on the small...

One of the most critical organizational changes family businesses deal with at some stage in their lives is the succession process. When evaluating it, two main targets are sought: quality and effectiveness. To meet these quality-effectiveness standards three elements should be transferred from...