[PPT] - Fa Family Functioning, En Entrepreneurship and Performance: Th PowerPoint Presentation

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Fa Family Functioning, En Entrepreneurship and Performance: Th The case of family y businesses

Matt Allen, Jim Davis, Albert James, Bill Worthington

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PR PRIMARY FOCUS OF STEP …Fa Family Business & Entrepreneurship…

Family is “the oxygen that feeds the fire of entrepreneurship” Rogoff and Heck, 2003 Aldrich and Cliff, 2003

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Th The Literature

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Th The Literature

E.ship Family Bus. Overlap (Debicki et al. 2009; Benavides-Velasco, Quintana-Garcia and Guzman-Parra, 2013; Chrisman, et al. 2010; Debicki et al 2009; Shane 1997; Teixeira 2011)

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Th The Literature

E.ship Family Bus. Overlap (Debicki et al. 2009; Benavides-Velasco, Quintana-Garcia and Guzman-Parra, 2013; Chrisman, et al. 2010; Debicki et al 2009; Shane 1997; Teixeira 2011) E.ship Family Bus. Related, but Developed Independently (Anderson, Jack and Dodd 2005; Nordqvist and Melin 2010)

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Th The Literature

E.ship Family Bus. Overlap (Debicki et al. 2009; Benavides-Velasco, Quintana-Garcia and Guzman-Parra, 2013; Chrisman, et al. 2010; Debicki et al 2009; Shane 1997; Teixeira 2011) E.ship Family Bus. Related, but Developed Independently (Anderson, Jack and Dodd 2005; Nordqvist and Melin 2010) E.ship FB FB is Specialization in Entrepreneurship (Teixeira 2011)

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Th The Literature

This Research: Family & Entrepreurship E.ship Family Bus. Overlap (Debicki et al. 2009; Benavides-Velasco, Quintana-Garcia and Guzman-Parra, 2013; Chrisman, et al. 2010; Debicki et al 2009; Shane 1997; Teixeira 2011) E.ship Family Bus. Related, but Developed Independently (Anderson, Jack and Dodd 2005; Nordqvist and Melin 2010) E.ship FB FB is Specialization in Entrepreneurship (Teixeira 2011) Family E.ship

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Bibliometric analyses of en

entrep epren eneu eurship liter erature e

“fa

family firm is pract ctica cally absent as a research area of

interest among entrepreneurship scholars”

M C López-Fernández, A M Serrano-Bedia, and M Perez-Perez, 2016

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“5 “5 perce cent family firm literature studies focu cus on th the is issues of

f entrepreneurship

ip an and in innov

vat

ation ion”

M C López-Fernández, A M Serrano-Bedia, and M Perez-Perez, 2016

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Entrepreneurship & Family Business Research

(Rogoff & Heck, 2003)

both have viewed the business as the most important system under

study, even to the exclusion of the family in its own right within the family business literature.

they focus on business by examining traditional business dimensions

such as strategy, management, production, labor, and performance.

they both focus on time dimensions such as business stages and the

transitions between them including the start-up phase, growth, maturity, and exit.

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Ke Key di differenc nces be between n family bus busine ness and nd ent ntrepr prene neur urshi hip

Family businesses research: family ownership, management by a

family member, operational involvement of family members, and family member involvement across generations

Entrepreneurship research: common and limited focus is on new

venture opportunities and emergence

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Th Theory Used to Define Entrepreneurship-Fa Family Link

Stewardship Theory
Motivation Theory, accountability to self and family, personal Gain
HR Theories: Time and terms of employment
Decision making Theory: Unity of command
Theories of Control: Clan and Market

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Re Research Questions

Is Family Harmony associated with Family Business Entrepreneurial Focus? Is an Entrepreneurially Focused Family Business associated with higher performance. Does Entrepreneurial Focus mediate the Family Harmony-Family Firm Performance relationship? How is Family Business associated with Family Harmony? How do Generations in the family business differ?

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Entrepreneurship Orientation Family Harmony Accounting Performance Company Growth

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St Step D Data

N= 1095
Latin America: 170
North America: 307
Europe:

511

Asia-Pacific:

107

Generations
1:

17.5%

2:

31.2%

3:

16.6%

4:

6.5%

5:

3.7%

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Fa Family Harmony (Chronbach’sAlpha=.862)

Depend on Family
Communication
Family accepts your wishes to take on new activities and directions
Family expresses affection and support
Family spends time together

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En Entrepreneurial Orientation(ChronbachAlpha=.756)

Favor High Risk Project with High Return
Bold Aggressive Posture under uncertain conditions maximize probability of

exploiting potential opportunities

Explore bold, wide-ranging acts
Initiate actions to which competitors respond
Strong tendency to be ahead of competitors with novel ideas and products
Favor emphasis on R&D, technological leadership and innovation
Provide primary impetus for pursuing business opportunities
Encourage employee initiatives and input in identifying entrepreneurial
pportunities

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Pe Performance (Assessment of Family Firm relative to Industry)

Accounting Measures (Chronbach Alpha: .818)
ROE
ROA
Profit Margin
Growth Measures (Chronbach Alpha: .890)
Growth in Sales
Growth in Market Share
Growth in Employees
Growth in Profitability

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Entrepreneurship Orientation Family Harmony Accounting Performance Company Growth

.200** .246** .279**

Global

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Main effects harmony to performance Mediated effects

Family Harmony

Accounting Performance Company Growth .163** .128** Mediated .098** Mediated .044

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