Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - All in the Family?
T2 - An Exploratory Study of Family Member Advisors and Firm Performance
AU - Naldi, Lucia
AU - Chirico, Francesco
AU - Kellermanns, Franz W.
AU - Campopiano, Giovanna
PY - 2015/9
Y1 - 2015/9
N2 - 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.
AB - 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.
KW - family business
KW - family member advisors
KW - generation in control
KW - performance
U2 - 10.1177/0894486515581951
DO - 10.1177/0894486515581951
M3 - Journal article
AN - SCOPUS:84939233086
VL - 28
SP - 227
EP - 242
JO - Family Business Review
JF - Family Business Review
SN - 0894-4865
IS - 3
ER -