2020
DOI: 10.1177/0894486520948992
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Unmasking the Social Ghost in the Machine: How the Need to Belong and Family Business Potency Affect Family Firm Performance

Abstract: Research often assumes that a controlling family’s social bonds contributes to superior firm performance. However, there is little theory to address these relationships and findings are often mixed. Here, we integrate resource-based and need-to-belong theories to address these issues, introducing family business potency as a key mediating variable between family cohesion, participative strategy processes, and firm performance in 109 family firms. Altogether, our study answers ongoing theoretical calls for more… Show more

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Cited by 6 publications
(3 citation statements)
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References 126 publications
(276 reference statements)
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“…Notably, each of these three resource mobilization strategies challenges or extends some aspect of existing entrepreneurship scholarship. Family transmutation challenges widely held assumptions about the general availability of family support, which are regularly depicted in research on social capital (Chua, Chrisman, Kellermanns, & Wu, 2011), venture capital (Kotha & George, 2012), family business (e.g., Simarasl, Jiang, Kellermanns, & Debicki, 2020), and family entrepreneurship (e.g., Aldrich & Cliff, 2003). As the evidence from our study shows, however, in certain institutional contexts, a more collectivist view of the family can lead families to prioritize an aspiring entrepreneur's adherence to societal norms over their decision to support such individual pursuits, thus creating unique challenges for resource mobilization.…”
Section: Discussionmentioning
confidence: 99%
“…Notably, each of these three resource mobilization strategies challenges or extends some aspect of existing entrepreneurship scholarship. Family transmutation challenges widely held assumptions about the general availability of family support, which are regularly depicted in research on social capital (Chua, Chrisman, Kellermanns, & Wu, 2011), venture capital (Kotha & George, 2012), family business (e.g., Simarasl, Jiang, Kellermanns, & Debicki, 2020), and family entrepreneurship (e.g., Aldrich & Cliff, 2003). As the evidence from our study shows, however, in certain institutional contexts, a more collectivist view of the family can lead families to prioritize an aspiring entrepreneur's adherence to societal norms over their decision to support such individual pursuits, thus creating unique challenges for resource mobilization.…”
Section: Discussionmentioning
confidence: 99%
“…Fusing personal relationships and professional roles often leads to distinctive management styles and company cultures that differ significantly from nonfamily corporations (Hall and Nordqvist, 2008). This distinctive environment can foster a deep sense of belonging and purpose amongst family members (Simarasl et al, 2020), yet it also brings challenges such as succession planning and conflict resolution. It is vital to note that the impact of family-towork conflict (FWC) on job satisfaction and social networks differs between family and nonfamily businesses.…”
Section: Introductionmentioning
confidence: 99%
“…Family business research has focused extensively on understanding how families can ensure the success of their business (e.g., Le Breton-Miller & Miller, 2018; Simarasl et al, 2020; Tognazzo & Neubaum, 2020). Highly successful business families have been found to evolve into enterprise families as they share ownership of multiple assets (e.g., investments or real estate) and multiple entities (e.g., a family business, family office and/or family philanthropic foundations) across multiple generations (De Groot et al, 2022).…”
Section: Introductionmentioning
confidence: 99%