Growth and internationalisation of family businesses

Susana Menendez-Requejo

International Journal of Globalisation and Small Business, 2005, vol. 1, issue 2, 122-133

Abstract: This study analyses family businesses' growth and internationalisation decisions, examining if being a family firm determines differences in these strategies. According to the Resources and Capabilities Theory, family firms can have limitations for internationalisation in their financial and human resources. On the other hand, the Agency Theory and the Altruism Perspective establish that altruism in family firms can drive their foreign strategies, facilitating them. Moreover, family business generation is one characteristic, specific for family firms, that can influence their strategic decisions. An empirical analysis is developed for the Spanish Family Firms in 2001 and 2002, with the main conclusion being that we do not find predetermined limits nor advantages in the foreign growth of Spanish Family Firms, with size and second family generations being the main determinants of internationalisation.

Keywords: internationalisation; family businesses; agency conflicts; altruism; Spain; business growth; agency theory. (search for similar items in EconPapers)
Date: 2005
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Citations: View citations in EconPapers (6)

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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijgsbu:v:1:y:2005:i:2:p:122-133

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