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A stakeholder perspective to family firm performance

Thomas Zellweger & Robert S. Nason

abstract Through the lens of stakeholder theory this text deepens our understanding of financial and nonfinancial performance outcomes in family firms across multiple stakeholder categories, including the family level of analysis. Based on this foundation, we develop a typology of performance relationships between performance outcomes: overlapping, causal, synergistic, and substitutional. We argue that these relationships, when used between constructive (positive) performance outcomes, are able to increase stakeholder satisfaction, which in turn increases organizational effectiveness. Through this analysis, we extend the common one-dimensional and cause-effect understanding of performance in family firms and move towards a comprehensive stakeholder performance perspective, which provides insights for increasing organizational effectiveness of family firms.
   
type journal paper
   
keywords family firms, stakeholder theory, performance relationships, organizational effectiveness, overlapping, causal, synergistic and substitutional performance relationships
   
project Value and Performance in Family Firms
language English
kind of paper journal article
date of appearance 29-5-2008
journal Family Business Review
publisher Sage
volume of journal 21
number of issue 3
page(s) 203-216
review double-blind review
   
citation Zellweger, T., & Nason, R. S. (2008). A stakeholder perspective to family firm performance. Family Business Review, 21(3), 203-216.