Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
<mark>Journal publication date</mark> | 09/2015 |
---|---|
<mark>Journal</mark> | Family Business Review |
Issue number | 3 |
Volume | 28 |
Number of pages | 16 |
Pages (from-to) | 227-242 |
Publication Status | Published |
Early online date | 26/05/15 |
<mark>Original language</mark> | English |
This exploratory study investigates the relationship between family members serving in an advising capacity and family firm performance. Integrating the stewardship and agency perspectives, we predict an inverted U-shaped relationship between the number of family advisors and family firm performance. We argue that the generation in control moderates this relationship such that family member advisors have a positive relationship with performance in first-generation family firms and an inverted U-shaped relationship with performance in later-generation family firms. Our empirical analysis on a sample of 128 Swedish family firms confirms our hypotheses. In the concluding section, we discuss results, contributions and future research directions.