Defining and Understanding the Family Firm

Stefano Amato and Alessia Patuelli
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Stefano Amato: University of Trento
Alessia Patuelli: Northumbria University

Chapter Chapter 2 in Family Firms and Local Roots, 2023, pp 5-19 from Springer

Abstract: Abstract This chapter introduces the family firm phenomenon, providing insights into the prevalence of family firms worldwide. After an excursus on the primary literature which defines a family firm, the chapter introduces the definitional dilemma and the concept of heterogeneity. The chapter proceeds with an overview of the primary theoretical constructs that help to understand family firms’ unique behaviors. It will range from classical approaches such as the agency theory, resource-based view, and stewardship to the original concepts and approaches coined by the family business literature, primarily discussing familiness, the three-circle model, and socioemotional wealth theory.

Keywords: Family firm; Definitional dilemma; Familiness; Three-circle model; Socioemotional wealth theory (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:csrchp:978-3-031-31793-4_2

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DOI: 10.1007/978-3-031-31793-4_2

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