The DOI matches its Crossref record; 55 of the 55 references it cites were found in a registry or an index.
Family Governance and Firm Performance: Agency, Stewardship, and Capabilities
Abstract
After decades of being viewed as obsolete and problem ridden, recent research has begun to show that major, publicly traded family-controlled businesses (FCBs) actually out-perform other types of businesses. This article examines the nature of such family businesses in an attempt to explain why some seem to do so well and others so poorly. It begins with four fundamental governance choices that distinguish among different kinds of family businesses: level and mode of family ownership, family leadership, the broader involvement of multiple family members, and the planned or actual participation of later generations. Using precepts from agency and stewardship theory, it relates these dimensions to the nature of the resource-allocation decisions made by the business and capability development, which in turn have implications for financial performance. Propositions are drawn about the drivers that make some family businesses great competitors—while leaving others at a disadvantage.
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Citations
Cites
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Social Capital: Prospects for a New Concept
Adler, P. S., & Kwon, S.-W. (2002) · The Academy of Management Review · doi:10.2307/4134367 · Cited by 9,665 · cited 1×
“FCBs trying to smooth the way for later generations have a strong incentive to build social capital in the form of enduring associations with external parties that can supply critical resources to successors (Adler & Kwon, 2002; Gomez-Mejia et al., 2001).”
BackgroundAsset Stock Accumulation and Sustainability of Competitive Advantage
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Cited by
Berrone, P., Cruz, C., & Gomez-Mejia, L. R. (2012) · Family Business Review · doi:10.1177/0894486511435355 · Cited by 2,724
Minichilli, A., Corbetta, G., & MacMillan, I. C. (2010) · Journal of Management Studies · doi:10.1111/j.1467-6486.2009.00888.x · Cited by 513
Corporate Social Responsibility Reporting: A Content Analysis in Family and Non-family Firms
Campopiano, G., & De Massis, A. (2015) · Journal of Business Ethics · doi:10.1007/s10551-014-2174-z · Cited by 473
Is family leadership always beneficial?
Miller, D., Minichilli, A., & Corbetta, G. (2013) · Strategic Management Journal · doi:10.1002/smj.2024 · Cited by 409
Self-citationKnowledge sharing and technological capabilities: The moderating role of family involvement
Zahra, S. A., Neubaum, D. O., & Larrañeta, B. (2007) · Journal of Business Research · doi:10.1016/j.jbusres.2006.12.014 · Cited by 347
Metadata
- Authors
- Miller, D., & Le Breton-Miller, I.
- Venue
- Family Business Review
- Publisher
- SAGE Publications
- Published
- 2006-03
- Volume
- 19
- Issue
- 1
- Pages
- 73-87
- ISSN
- 0894-4865 (ISSN-L)
- 1741-6248
- OpenAlex
- W2155686058
- Cited by
- 1,300
- References
- 55
- FWCI
- 32.03
- Type
- journal article
- Language
- en
- Open access
- closed
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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