An Analytical Model to Explain the Governance of Family Owned Businesses

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F16%3A43875298" target="_blank" >RIV/70883521:28120/16:43875298 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

An Analytical Model to Explain the Governance of Family Owned Businesses

Original language description

The governance of businesses tends to vary depending on the ownership, i.e., the private sector vs. the public sector, or the industry, for example, banking vs. non-banking, and many more. This paper aims to develop an analytical model in explaining the governance of family owned businesses more specifically. It argues that because of the family ownership and the family management, family businesses require a particular attention. Also, because family businesses appear to set non-financial goals in addition to financial goals the governance of family businesses cannot be equally treated as those of other firms in the private sector. Given the less developed nature of the capital markets in the developing countries such as Sri Lanka, family businesses play a significant role in the economic development of such countries. Nevertheless, family businesses face significant survival challenges, as they are likely to promote those who have family ties into management positions than the professional managers. By reviewing the existing literature critically, this paper identifies the variables, namely family power (i.e., ownership and management), experience and cultural factors, which influence the accomplishment of financial and non-financial goals of family owned businesses, and develops an analytical model to explain their governance.

Czech name

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Czech description

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Type

J_x - Unclassified - Peer-reviewed scientific article (Jimp, Jsc and Jost)

CEP classification

AE - Management, administration and clerical work

OECD FORD branch

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Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2016

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of Intercultural Management

ISSN

2080-0150

e-ISSN

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Volume of the periodical

2016

Issue of the periodical within the volume

7

Country of publishing house

PL - POLAND

Number of pages

19

Pages from-to

51 - 69

UT code for WoS article

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EID of the result in the Scopus database

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