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Understanding the family businesses : a case study from Brazil

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Topics, trends and theories in family business research: 1996–2020

• Published: 14 October 2023
• Volume 19 , pages 1855–1891, ( 2023 )

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• Mehmet Bağiş   ORCID: orcid.org/0000-0002-3392-3376 1 ,
• Li̇ri̇don Kryeziu   ORCID: orcid.org/0000-0002-1382-7520 2 ,
• Mehmet Nurullah Kurutkan   ORCID: orcid.org/0000-0002-3740-4231 3 ,
• Besni̇k A. Krasniqi 4 ,
• Omer Yazici 1 &
• Esra Memili 5  

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The existing body of literature on family business studies has expanded considerably. However, despite numerous literature reviews in past research, certain aspects, such as the evolving conceptual patterns in the field and the theories that guide it, remain unexplored. This article aims to uncover the conceptual patterns and theoretical foundations shaping the field, highlighting influential sources, institutions, countries, and authors within the realm of family businesses. The research utilizes bibliometric analyses and qualitative content analysis. Our findings determined that family business research produced its first theoretical studies between 1996 and 2004 (the first period), focusing on management, altruism, and agency issues during this period. During this period, agency theory dominated the field. In the period 2005–2013 (second period), we identified the following as emerging concepts in the field: diversification, entrepreneurship, family capital, family values, family involvement, relationship conflict, stewardship, succession, commitment, and psychological ownership. The dominant theories during this period were agency theory, resource-based theory, management theory, and institutional theory. In the third period, the prominent topics are the following: dynamic capabilities, stewardship, familiness, family dynamics, non-family employees, top management team, governance, trust, sustainability, corporate social responsibility, family management, family ownership, social capital, internationalization, corporate entrepreneurship, entrepreneurial orientation, family influence, knowledge sharing, board of directors, succession planning, succession process, emotions, gender, family control, and heterogeneity. In this period, in addition to the theories in the previous period, Socio-Emotional Wealth theory, social identity theory, social capital theory, stakeholder theory, and upper echelon theory are dominant in the field. The article concludes with recommendations for future research directions.

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Bağiş, M., Kryeziu, L., Kurutkan, M.N. et al. Topics, trends and theories in family business research: 1996–2020. Int Entrep Manag J 19 , 1855–1891 (2023). https://doi.org/10.1007/s11365-023-00904-y

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Culture in a Family Business: A Reflection of the Owning Family?

A significant part of the family business literature recognized that organizational culture in a family business is a reflection of the owning family – an important yet seldom tested assertion. This study investigated whether a relationship exists between the climate of the owning family and the culture in their organization. Participants were composed of 136 family members and 403 non-family employees from 33 family businesses in Cebu City, Philippines. Family members answered family climate questionnaires that measured emotional cohesion and cognitive cohesion within their families, while employees answered organizational culture questionnaires that measured sociability and solidarity within their organizations. Correlation analysis revealed that there is no direct relationship between family climate and organizational culture. Additionally, supplementary interviews provided support in understanding why an absence of direct relationship exists. Findings suggest that the organizational culture in any family business is not by default a reflection of the owning family’s climate. This insight serves as an invitation to reexamine widely-held views and renew the dialogue about organizational culture in family businesses.

Related Papers

Family Business Review

Daniel Denison

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Theoretical Perspectives on Family Businesses

Rocky Adiguna

The paper reviews the literature on organisational culture in family business by tracing its origin in organization studies and its importation to family business field. Despite the vast literature in the last three decades, cultural inquiries in family business have not come a long way. To date, research on family business culture are heavily dominated by functionalist/integrationist perspective that assumes culture as coherent and shared values. The paper suggests future research to examine the multidimensionality of family business, utilize ethnographic methods to go ‘under-the-surface’ and achieve deeper immersion in the field, and take critical stances of culture to understand family business.

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International Journal of Asian Business and Information Management

Nay Zar Aung

This article explores the concept of familiness in family-owned businesses (FOBs), identifying how families generate their own resources for business performance. Applying the resource-based view, the authors examined seven Myanmar businesses. Findings revealed that two factors influence familiness in Myanmar FOB: family unity and internal governance systems, which can be subdivided into traditional and collective systems. Moreover, evaluation revealed that FOB's business performance was affected by different family attitudes. A combination of family unity and a traditional internal governance system was conducive to controlling the internal business capabilities, whereas creating external opportunities were considered more effective for a combination of family unity and a collective internal governance system. Findings suggest that familiness emerges through embedded family resources that incorporates a sense of awareness with abilities for business advantages. These empirical ...

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6 Traits of Strong Family Businesses

• Claudio Fernández-Aráoz,
• Sonny Iqbal,
• Jörg Ritter,
• René Sadowski

Based on a three-year study.

Although most family businesses fail to last through the third generation, some are able to thrive. Why? By following four rules:  maintain good governance, identify and develop both family and nonfamily talent; pursue disciplined succession; and preserve family gravity. The last is perhaps the most difficult to get right. So Egon Zehnder and the Family Business Network International (FBNI), embarked on a three-year global study to discover what makes up family gravity. After interviewing more than 50 executives at 28 leading family businesses across the Americas, Europe, and Asia and surveying of 4,000 FBNI members, they concluded that gravity has six dimensions:  values and vision, the right involvement, cohesion and interaction, family governance and clarity on leadership principles and roles.

Family businesses are the cornerstone of most national economies, according to a recent report by Credit Suisse Research. They can create jobs, spur innovation, and drive superior returns.

• Claudio Fernández-Aráoz  is an advisor on Talent and Family Businesses, a frequent lecturer at Harvard Business School, and the author of  It’s Not the How or the What but the Who .
• Sonny Iqbal is a partner at Egon Zehnder, and the former co-leader of its global family-business practice.
• Jörg Ritter is a partner at Egon Zehnder and coleader of its global family-business practice.
• René Sadowski is engagement leader at Egon Zehnder and a member of its global family-business practice.

Partner Center

65 Family Businesses Essay Topic Ideas & Examples

🏆 best family businesses topic ideas & essay examples, 📝 most interesting family businesses topics to write about, 👍 good research topics about family businesses.

• Owning & Operating a Family Business The uniqueness of family business is that members of family are affected by an overlap of family, business, and ownership subsystems, with owners playing simultaneous roles among these three subsystems. In sum, family business represents […]
• Family Business Succession in Asian Countries One of the most exciting challenges affecting family businesses is the succession of management, which results in the limited survival of transition businesses.
• Family Business Promoting Economic Growth The primary goal of the article is to assess the role of the family business in the economic growth of Saudi Arabia.
• Future of the Family Business in World Today, regardless of drastic alterations in the world of business and global marketplace, family business remains one of the most important spheres and play a central role in the development of the economy.
• Feasibility of Developing a Family Business There is no unambiguous position of the scientific economic and administrative community on the effect of the family on the development of business models.
• Culture and Family Business Management Far from the above, Moho can ask for a unique scenario where he agrees to perform on a contract basis whereby he will ask for the permission to apply his principles in a department of […]
• Succession Plan for a Family Business However, this passing on of the business to other individuals, who are the successors, is a crucial phase in the running of the business.
• Family Business Employees and Theory of Needs Specifically, the relationships of family members and the regular staff that is not related to the owner directly may involve tension due to the possibility of unfairness and biased judgment on the side of managers.
• Internationalization of Family Businesses The paper in question investigates the nature of the internationalization of family businesses and studies how different futures of the company affect the process.
• Can the Family Business Disintegrate the Family? The report explores the contemporary context of running a family business with the aim of the identification of threats concerning the integrity relationships between the family members involved in the same business.
• Family Business, Its Philosophy and Strategy In this regard, the leader may be confused because of the need to react in the most proper way to benefit both the family and business.
• Family Business in the UAE: Management and Dynamics In the meantime, it is critical to note that the only reason why Izat Raja’s business can be called “family” resides in the fact that his nephew, Waleed works for Raja’s company.
• Family Business: R&S Electronic Service Company The main issue in this company that needs to be resolved is the abuse of office by the general manager. In addition, Eddie threatens managers at the payroll department for questioning the illegal commissions awarded […]
• Gender Inequality in Family Business One of the problems that every woman faces in a family business is that of succession. In the model of Royal Families, the right to lead the business belongs to the oldest son.
• Family Business: Success or Challenge? A family business is different from the others due to the presence of the family. Since it is a family business, a Family Council is needed to manage the company.
• Mills Trading: Governance Issues in a Family Business The main business of the Group is connected to providing the markets and hypermarkets of the UAE, Qatar, Bahrain, and Oman with various agricultural and camping supplies and equipment.
• Wang Group Company: Family Business Changes Charles Wang after succeeding his father Alfred Wang brought in the following changes to the Wang Group in order to bring about change in the organization: Charles Wang changed the business model of the company […]
• How to Establish a New Family Business? This is because some members can either be owners and not involved in the daily running of the business while others may run the business but have no stake in ownership of the business it […]
• Criteria Used in Assessing the Relative Success of a Family Business The two strategies, which were employed in critical assessment of the success of Candy and Candy interior design and development Management Company, included overall assessment of business performance and the form of business governance practised.
• Family Business in the Middle East The business is run and controlled by the whole family, but may also be run by the person with the largest share holding in the enterprise. The family forms the management team for business and […]
• Effectiveness of Non-Family Member Leaders in Family Business How non-family member leaders can contribute for the development of family business and national economy; The extent to which family members accept the decisions of the leaders of non-family members; Assess the impact of non-family […]
• The Family Business: Gopher IT Gopher IT is a business owned by a family with different members of the family engaging in running of the business.
• Assessing the Relative Health of a Family Business Also, it is essential to ascertain that family members can differentiate the functions of such institutions and the governing units of the business, including the top management and the board of directors.
• Family Business and Its Governance Godfrey argues that the family in itself has substantial influence on the company’s assets and the economic success of the company. In the long run it becomes volatile of the family culture to challenge a […]
• Family Business on the Couch: A Psychological Perspective
• Advantages and Disadvantages of Running a Family Business
• Women’s Management Strategies and Growth in Rural Female-Owned Family Businesses
• Mission Statements for Small Family Businesses
• Pension Wealth and Intergenerational Succession in Family Businesses
• Tools for Strategy Development in Family Firms
• Goal Orientation and Performance of Family Businesses
• Managerial Behavior of Small and Medium-Sized Family Businesses
• Conflicts That Plague Family Businesses
• The Importance of Terms in Family Business
• Family Business Directed Study of the Walton Family
• The Importance of Strategic Planning in Family Business
• Capital Markets and the Evolution of Family Businesses
• Leadership Lessons From Great Family Businesses
• Internationalization via Strategic Alliances in Family Businesses
• Differences Between Family and Non-Family Businesses
• Family Businesses and Adaptation: A Dynamic Capabilities Approach
• Planning for Non-family Employees in the Family Business
• The Application and Role of Management Accounting and Controlling Methods in Family Businesses
• Corporate Social Responsibility in Family Firms
• The Problem With Family Businesses in the United Kingdom
• McDonald’s Ruining Family Business Environment
• Family Businesses: Can the Family and the Business Finances Be Separated
• Why Family Businesses Are Better at Weathering Economic
• The Role of Trust in a Family Business
• Succession in Small and Medium-Sized Family Businesses
• Internationalization and Corporate Governance in Family Businesses
• The Advantages and Disadvantages of the Family Business
• Managing the Trickiest Parts of a Family Business
• The Biggest Challenges for Family-Owned Businesses
• What You Can Learn From Family Business
• Functional Strategies and Practices of Small and Medium-Sized Family Businesses
• Do Family Firms Have Better Access to External Finance During Crises
• Analyzing Family Business Cases: Tools and Techniques
• Do Family Firms Outperform Non-family Ones
• Unemployment and Family Businesses in Hungary
• Family Entrepreneurship: Characteristics and Successful Cases
• Vietnamese Values, Networks, and Family Businesses in London
• How Family-Owned Businesses Benefit the Capital Markets
• The Growth and Performance of Family Businesses During the Global Financial Crisis
• Chicago (A-D)
• Chicago (N-B)

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More From Forbes

Family businesses need to tell their story better. here’s why..

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Radio Flyer earned Best In Class on 2024 Family Business VISibility Ranking for clearly sharing ... [+] their values, impact and story publicly. (Photo By Tom Williams/Roll Call/Getty Images)

According to Edelman Trust Barometer “Family business has always held a strong edge in trust over business in general.” But trust isn’t something family businesses can take for granted. Edelman reports that trust in family businesses has been eroding for years. A recent study saw a six point drop in trust for family business, while trust in general business is climbing. Why? Edelman sees that family businesses are not working to build trust with their customers: “Nearly 60 percent of companies do not communicate purpose externally. Eighty-four percent do not take a public stand on important issues.”

As corporate citizenship has become a greater expectation for companies, the business sector has stepped up. Yet, it can be a double-edged sword. Companies that profess their commitment to inclusion, environmental protection and other values, can be criticized for being “woke” or for engaging in “greenwashing.”

How do family businesses participate in this tricky, but necessary conversation? The answer is surprisingly simple: stories. Stories help share values and impact in context. They help inspire and recruit employees. They help connect with clients and customers in memorable and meaningful ways. Stories speak louder than jargon, louder than accolades and labels.

First Annual Family Business VISibility (Values, Impact, Story) Ranking

To understand how family businesses are communicating, we reviewed how well 30 family-owned B Corp businesses were sharing their values, impact and stories. We chose B Corp businesses as the certification process ensures the family businesses selected for review have proven to a third party that they are indeed values-driven businesses. Each business was graded on the eight point VISibility scale.

The VISibility Scale

8 Components of the VISibility Rankings help a company understand how well they are communicating ... [+] their values, impact and story.

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Andy Crestodina, co-founder and CMO of Orbit Media , a B Corp certified digital marketing agency, reviewed the VISibility rankings. “This is very cool...I think this is a really interesting way to evaluate companies,” he said. Crestodina was not surprised to learn that only four companies ranked Best In Class, meeting every criteria and only eight achieved the Great Storytellers level (scoring at least 6 out 8 criteria).

Only 4 out of 30 family businesses reviewed scored Best In Class (8 out of 8) on the VISibility ... [+] Ranking

Nearly half of the companies reviewed did not use storytelling techniques to share their founding ... [+] store and values.

“Storytelling is not central to many brands. So there's lots of missing stories. This would be one of them,” said Crestodina. “For many brands, especially in their digital presence, it's not discussed in detail.” The majority of companies (18) met less than 65% of the criteria, showing the opportunity to improve or start storytelling.

How To Share Your Values, Impact & Story

Business leader and author Simon Sinek suggests that starting with why, before moving through how and what, is a much more persuasive way to communicate a brand. Similarly, when a company is trying to demonstrate their values, it’s important to start with character. Most companies share their credentials and competences and fail to reveal anything about their character.

The 3 C's of Communicating Values, Impact and Stories

For example, your company is B Corp certified. Your ingredients are organic and non-GMO. Your ice cream flavor won a blue ribbon at the state fair. These are your credentials. The action you’ve taken to reduce your carbon footprint, the quality of your products and the integrity of the supply chain show your competence. Your character is shared through your stories. Here’s an example from one of the B Corp companies we reviewed:

Amy’s Kitchen gives an intimate story of its founders, Rachel and Andy, while sharing their values and character: “In 1987, while Rachel was pregnant with Amy and on bed rest,” reads Amy's Kitchen website . “Andy went looking for ready-made meals at their local natural grocery store. When he couldn’t find anything organic and vegetarian that satisfied their taste buds, they decided to make their own.”

Overlaid with family photos of their first kitchen and baby Amy, the story continues: “The first dish Rachel and Andy created was a pot pie. They made them by hand, sold them locally and Amy’s Kitchen began right out of their home. They thought they would remain a small company simply making pot pies, but pretty soon handwritten letters of thanks started pouring in.”

Their family story of humble beginnings, growth through community support, becoming a leader in the organic movement, and using her grandmother’s recipes all tie back to the family’s values that food should not be manufactured, but cooked with love. And the ripple effect it had on them as family and as a business.

Top 3 Reasons Family Businesses Fail To Share Stories

1: they only share the stories internally.

Though B Corp companies have put in the enormous effort to become B Corp certified, 30% of companies reviewed (8) didn’t even mention it on their website. Some companies may believe B Corp certification is more for internal communications. For companies like Orbit, B Corp is frequently used internally like a compass when the team is struggling to find the right answer. “What would be the B-corpy thing to do?” Crestodina recalled asking when his team needed to reach a business decision with no clear, right answers. The B Corp certification serves as a guide for decision making and attracting like-minded talent, said Crestodina.

2: They don’t understand the power of their stories

For others, their family stories are so embedded into the company culture that it’s hard for them to extrapolate the stories and share. When asked why family companies have such a hard time intentionally sharing their stories, founder of Sankofa Legacy Advisors, Thomasina Williams shared that for many family enterprises, stories are the fabric of their lives, their work, their intergenerational communication. They can’t see the stories themselves, because they are living the stories. They don’t stop to reflect on their stories. They understand their role in the community, their commitment to stewarding natural resources. They assume everyone already knows and understands their stories and values too.

3: Generational Divides

There is also a generational divide. Previous generations of family-owned businesses have intentionally separated their private life from their business life. Robert Pasin , third-generation Chief Wagon Officer of B Corp certified Radio Flyer, knows this conflict first hand. “My grandpa and my dad were very averse to PR. They didn't want any media coverage,” shared Pasin. “So when we were getting ready for our 80th anniversary, in 1997, I had this huge fight with my dad.”

Pasin decided to hire a PR firm to the founding story of his grandpa coming to the U.S. from Italy in 1914 and the birth of the first iconic Little Red Wagon. Though his father didn’t want their name in the paper, Pasin went ahead with the plan. “I felt like the company was really struggling. I was looking for something that could kind of rejuvenate it,” said Pasin. He decided to go against his father’s wishes and celebrate the family’s founding story. Since the initial celebration, they’ve had several campaigns telling the family’s story. “We've gotten literally billions of media impressions from telling our story. I think the long-term power of brand building is incredible.”

The Takeaway

Family businesses are often a force for good, with values intrinsic to the founding generation. B Lab brings together this community through their certification process, helping them to reflect on how their business processes support their values.

But with the new social demands for businesses to be corporate citizens, it is no longer enough to simply do good. Businesses must share their values and impact through their stories.

What stories do you have to tell? Whether or not you are a family business or a B Corp, you can use the VISibility Ranking to understand how well your business is communicating its values, impact and stories.

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