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Value Creation in Family Firms: A Model of Fit
Journal
Journal of Family Business Strategy
ISSN
1877-8585
ISSN-Digital
1877-8593
Type
journal article
Date Issued
2015-06
Author(s)
Abstract
We propose a framework describing how family ownership can create or destroy value depending on the goals, resources, and governance of the family firm, which are each influenced by the family owners. Taking a contingency perspective, we suggest that a fit is required for all three elements - family-influenced goals, resources, and governance - for the family firm to flourish over generations. We conclude with a suggested research agenda indicating research opportunities at the nexus of these identified elements. Further we provide some guiding questions for practitioners that might stimulate fruitful discussions among family firm owners and managers about how to realize "fit."
Language
English
Keywords
Family firm
Value creation
Governance
Contingency view
Goals
Resources
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
Elsevier
Publisher place
Amsterdam
Volume
6
Number
2
Start page
63
End page
72
Subject(s)
Division(s)
Eprints ID
240451