Measuring Success in Small Family Businesses - A Socioemotional Wealth Perspective

Bujan Ivana

A chapter in Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019, 2019, pp 120-129 from IRENET - Society for Advancing Innovation and Research in Economy, Zagreb

Abstract: The goal of this paper is to reveal typical non-financial success measures in small family business in Croatia. Socioemotional wealth model is used as a basis for questionnaire construction. Questionnaire items represent family typical success measures and are adaptable to different business activities. Since family business is heterogeneous it was necessary to give a definition of chosen sample – small family hotels. Given definition of small family business was used as a key to separate the family and non-family businesses in this survey. Chosen, socioemotional based, success measures were tested on a sample of small family hotels by using logistic regression. Based on the statistical results, community acknowledgments and continuation of family business are the most important non-financial success measures for Croatian example.

Keywords: family firm management; family entrepreneurship; socioemotional wealth (search for similar items in EconPapers)
JEL-codes: D10 L25 L26 M21 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:entr19:207671

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