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The Importance of Looking toward the Future and Building on the Past: Entrepreneurial Risk Taking and Image in Family Firms

Esra Memili, Kimberley H. Eddleston, Thomas Zellweger, Franz W. Kellermanns & Tim Barnett

Drawing on organizational identity theory, we develop a model linking family ownership and expectations, entrepreneurial risk taking, and image in family firms to explain family firm growth. Testing our model on a sample of 163 Swiss family firms, we suggest that entrepreneurial risk taking and image can both lead to growth in family firms. We further find that family expectations have an influence on both entrepreneurial risk taking and family firm image. This finding suggests that family firms may benefit from two growth paths - forward looking risk-taking and the image of the family firm that builds on the past, and that these paths are nurtured by family expectations.
   
type book chapter (English)
   
keywords Family Firm Image, Growth, Tradition, Innovation
   
book title Advances in Entrepreneurship, Firm Emergence and Growth
editor Jerome Katz, Andrew C. Corbett
date of appearance 2010
publisher Emerald (Bingley)
series title Entrepreneurship and Family Business (Vol. 12)
ISBN 978-0-85724-097-2
DOI 10.1108/S1074-7540(2010)0000012004
page(s) 3-29
citation Memili, E., Eddleston, K. H., Zellweger, T., Kellermanns, F. W., & Barnett, T. (2010). The Importance of Looking toward the Future and Building on the Past: Entrepreneurial Risk Taking and Image in Family Firms. In Katz, J., & Corbett, A. C. (Eds.), Advances in Entrepreneurship, Firm Emergence and Growth (pp. 3-29). Bingley: Emerald, DOI:10.1108/S1074-7540(2010)0000012004. - ISBN 978-0-85724-097-2.