Value creation in family firms: A model of fit

Nadine Kammerlander, Philipp Sieger, Wim Voordeckers () and Thomas Zellweger

Journal of Family Business Strategy, 2015, vol. 6, issue 2, 63-72

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.”

Keywords: Family firm; Value creation; Governance; Contingency view; Goals; Resources (search for similar items in EconPapers)
Date: 2015
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Citations: View citations in EconPapers (18)

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DOI: 10.1016/j.jfbs.2015.04.001

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