Family Firms and Entrepreneurship: Contradiction or Synonym?

Kraus, Sascha; Craig, Justin B.; Dibrell, Clay; Märk, Stefan

doi:10.1080/08276331.2012.10593564

Cited by 24 publications

(18 citation statements)

References 20 publications

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“…The findings also point out that these tools can be used to direct entrepreneurial attitudes to an efficient use, exploiting the available EO capabilities. Overall, we believe that these findings contribute to a better understanding of how family-related elements merge with general management behavior in family firms (Kraus et al 2012a;Zellweger and Sieger 2012).…”

Section: Discussionmentioning

confidence: 63%

“…This multidimensional EO construct is characterized by ''a propensity to act autonomously, a willingness to innovate and take risks, and a tendency to be aggressive toward competitors and proactive relative to marketplace opportunities'' (Lumpkin and Dess 1996, p. 137). Both construct variations of EO are assumed to positively affect financial performance (Wales et al 2013), which usually is measured in terms of profitability, sales growth or other financial measures Dess 1996, 2001) Family-related interests influence the importance of EO dimensions and their effect on performance in family firms (Nordqvist et al 2008;Kraus et al 2012a;Xi et al 2013). For the purpose of this study, we define family firms as firms where ownership and management is aligned within one or more families (i.e., family members of the owning family/-ies are involved in managing the firm), owning family/-ies hold more than 50% of shares, and at least two family members are active in the firm (Miller et al 2007;Westhead and Cowling 1998;O'Boyle et al 2012;Steiger et al 2015).…”

Section: Theoretical Foundation 21 Entrepreneurial Orientation and Fmentioning

confidence: 99%

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Tweaking the entrepreneurial orientation–performance relationship in family firms: the effect of control mechanisms and family-related goals

2017

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Management literature is currently giving growing conceptual and empirical attention to the peculiarity and relevance of entrepreneurial attitudes in family firms, with divergent outcomes. Aiming at concretizing the effects of these attitudes, denoted by the entrepreneurial orientation construct, on family business performance and considering that family dynamics come into play in this relationship, we particularly investigate the impact of control mechanisms and familyrelated goals. Findings are based on a sample of 180 family firms and show that Proactiveness and Autonomy are particularly relevant to financial performance. Agency-problems avoiding control mechanisms moderate the effect of Innovativeness and Autonomy, while socioemotional wealth (SEW) goals moderate the effect of Risk-Taking, respectively. The usage of these mechanisms and managing SEW goals provide opportunities for a more efficient exploitation of entrepreneurial attitudes.

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Section: Discussionmentioning

confidence: 63%

Section: Theoretical Foundation 21 Entrepreneurial Orientation and Fmentioning

confidence: 99%

Tweaking the entrepreneurial orientation–performance relationship in family firms: the effect of control mechanisms and family-related goals

2017

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“…While research on entrepreneurship in family firms is increasing ( (Carr & Sequeira 2007); (Naldi et al 2007); (Kraus, Craig et al 2012a)), the role of family involvement in the entrepreneurial process remains under-researched (Kellermanns & Eddleston 2006) and there are two contradictory streams of thought within the extant literature. While some studies depict family firms as a context in which entrepreneurship flourishes as a result of kinship ties and the long-term nature of the business ( (Ward 1987); ; (Zahra 2012)), others view them as too conservative and inflexible to take the risk associated with entrepreneurship and innovation ( (Autio & Mustakallio 2003); (Morris 1998); (Zahra 2005); (Chrisman & Patel 2012)).…”

Section: Introductionmentioning

confidence: 98%

Entrepreneurial orientation in family firms: the moderating role of technological intensity and performance

et al. 2014

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This paper examines how socio-emotional factors can influence family firms' commitment to entrepreneurially-oriented activities, and how their level of commitment is moderated by the technological intensity of the sector and firm performance. We find that, while family firms are less entrepreneurially-oriented than nonfamily firms, this gap closes with increasing technological intensity of the sector. We find no evidence, however, to suggest any change in entrepreneurial orientation in family firms resulting from a drop in firm performance.

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“…As Coleman (1988) suggested, a person's family background is analytically separable into at least three different components: financial capital, human capital, and social capital. The amount of financial and human capital in an average family is limited, but what differentiates an entrepreneurial family from an average family is the social capital that can mobilize limited family resources to create a successful business (Kraus et al 2012). Two elements of family ties make it possible: the first is the closure of the network that facilitates the emergence of effective norms and maintains the trustworthiness of others, thereby strengthening social capital (Coleman 1988).…”

Section: Discussionmentioning

confidence: 98%

Government and family Guanxi in Chinese private firms: perceptions and preference

Qin

Deng

2014

Rev Manag Sci

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This paper examines the role of family ties in private firms in China. Drawing on social capital theory, we argue that family ties can be valuable assets for running businesses, and should be studied as a separate type of managerial ties. Government ties are then used as a benchmark to demonstrate the difference between family and government ties in four dimensions: face, affection, reciprocity and trust. Taking the resource-based view, we argue that Guanxi network is a dynamic capability that evolves in response to the changing operating environment and a firm's lifecycle. A survey of 296 private firms in China is utilized to explore antecedents of managers' perceptions and their preference between government and family ties. We find that a volatile operating environment is the most important factor that is linked to the perceived importance of government and family ties. In addition, we find younger firms are more likely to value family ties highly, while perceived importance of government ties increases with the size of the firm. This study contributes to the literature by adding an extra domain, family ties, to managerial ties and highlights the importance of family ties for fledgling firms. It provides further evidence on the role of managerial ties in mitigating operational uncertainties, and sheds light on the different roles that family and government ties play.

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Family Firms and Entrepreneurship: Contradiction or Synonym?

Cited by 24 publications

References 20 publications

Tweaking the entrepreneurial orientation–performance relationship in family firms: the effect of control mechanisms and family-related goals

Tweaking the entrepreneurial orientation–performance relationship in family firms: the effect of control mechanisms and family-related goals

Entrepreneurial orientation in family firms: the moderating role of technological intensity and performance

Government and family Guanxi in Chinese private firms: perceptions and preference

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