Corporate values guiding the world's largest family-owned businesses: A comparison with non-family firms

Lucia Ceja () and Josep Tapies
Additional contact information
Lucia Ceja: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN
Josep Tapies: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN

No D/916, IESE Research Papers from IESE Business School

Abstract: This paper analyzes formally stated corporate values, a key topic of concern in the field of family businesses. More specifically, the study aims to contribute to the literature by enabling a deeper understanding of the differences and similarities of the corporate values at the foundation of the world's top 100 largest family-owned firms and non-family businesses. According to the study findings, the values of integrity, respect, and customers are the top three most-mentioned values in both family-owned businesses and non-family companies. Likewise, there are distinct values that are mentioned often by family-owned firms and seldom stated or not stated at all by non-family businesses. These values tend to be more people-oriented; emphasize collectivity more than individuality; and support a long-term perspective and a sense of stewardship and responsibility toward the future of the family and the community in which the business operates.

Keywords: family-owned firms; corporate values; positive psychology; family-business values (search for similar items in EconPapers)
Pages: 20 pages
Date: 2011-03-09
New Economics Papers: this item is included in nep-bec, nep-cfn and nep-his
References: View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ebg:iesewp:d-0916

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