What do we know about private family firms? A meta-analytic review
Journal
Entrepreneurship Theory and Practice
ISSN
1042-2587
ISSN-Digital
1540-6520
Type
journal article
Date Issued
2015-05-01
Author(s)
Abstract
The universe of family firms is heterogeneous, and findings gleaned from publicly listed firms may not apply to the ubiquitous, but less frequently studied, privately held family firm (PFF). As PFFs are insulated from capital market pressures, owner-managers have greater latitude in setting strategic goals, which may result in different strategic choices and performance outcomes. By employing meta-analytical techniques on 48 studies conducted in nine countries, we synthesize prior PFF research. We show that PFFs prefer more conservative strategies, but contrary to received wisdom, this risk aversion does not hurt their performance. We conclude with an agenda for future research.
Language
English
HSG Classification
contribution to scientific community
Refereed
Yes
Publisher
USASBE
Publisher place
Nashville, Tenn.
Volume
39
Number
3
Start page
513
End page
544
Pages
32
Subject(s)
Eprints ID
244509
File(s)![Thumbnail Image]()
open.access
Name
ETP Private FFS MA 2013.pdf
Size
204.99 KB
Format
Adobe PDF
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