This exploratory study investigates the relationship between family members serving in an advising capacity and family firm performance. Integrating the stewardship and agency perspectives, we predict an inverted U-shaped relationship between the number of family advisors and family firm performance. We argue that the generation in control moderates this relationship such that family member advisors have a positive relationship with performance in first-generation family firms and an inverted U-shaped relationship with performance in later-generation family firms. Our empirical analysis on a sample of 128 Swedish family firms confirms our hypotheses. In the concluding section, we discuss results, contributions and future research directions.

(2015). All in the Family? An Exploratory Study of Family Member Advisors and Firm Performance [journal article - articolo]. In FAMILY BUSINESS REVIEW. Retrieved from http://hdl.handle.net/10446/202608

All in the Family? An Exploratory Study of Family Member Advisors and Firm Performance

Naldi, Lucia;Campopiano, Giovanna
2015-01-01

Abstract

This exploratory study investigates the relationship between family members serving in an advising capacity and family firm performance. Integrating the stewardship and agency perspectives, we predict an inverted U-shaped relationship between the number of family advisors and family firm performance. We argue that the generation in control moderates this relationship such that family member advisors have a positive relationship with performance in first-generation family firms and an inverted U-shaped relationship with performance in later-generation family firms. Our empirical analysis on a sample of 128 Swedish family firms confirms our hypotheses. In the concluding section, we discuss results, contributions and future research directions.
articolo
2015
Naldi, Lucia; Chirico, Francesco; Kellermanns, Franz W.; Campopiano, Giovanna
(2015). All in the Family? An Exploratory Study of Family Member Advisors and Firm Performance [journal article - articolo]. In FAMILY BUSINESS REVIEW. Retrieved from http://hdl.handle.net/10446/202608
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