Family Values: Influencers in the Development of Financial and Non-financial Dynamics in Family Firms

Claire Seaman, Richard Bent () and Mauricio Silva
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Claire Seaman: Queen Margaret University
Richard Bent: Queen Margaret University
Mauricio Silva: Glasgow Caledonian University

Chapter 19 in The Palgrave Handbook of Heterogeneity among Family Firms, 2019, pp 507-530 from Springer

Abstract: Abstract The role of family values is considered here as one potential contributor to heterogeneity. The pursuit of profit as an end goal may be key for many family businesses, but there are well-documented cases of businesses where corporate citizenship and philanthropy are integral to the business model. Earlier work has highlighted that where one family has a predominant level of control in a business, their family values may assume greater importance and thereby be more likely to influence strategy. Within this chapter, we propose that the concentration of family values that occurs when one family has a predominant level of control within the business may be a key contributor to the development of financial and non-financial dynamics, representing one way in which strategy is developed and implemented.

Keywords: Family business; Financial decision-making; Family dynamics SME; Household decision-making (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-77676-7_19

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DOI: 10.1007/978-3-319-77676-7_19

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