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Elgar Encyclopedia of Family Business
The intertwining of family relationships with business imperatives provides a fascinating but complex arena for study. This Encyclopedia is a valuable resource because family business studies are necessarily multi-disciplinary and wide-ranging, drawing on entrepreneurship, management, governance, economics, ethics, business history, as well as family studies.
More Information
Critical Acclaim
Contributors
Contents
More Information
The intertwining of family relationships with business imperatives provides a fascinating but complex arena for study. This Encyclopedia is a valuable resource because family business studies are necessarily multi-disciplinary and wide-ranging, drawing on entrepreneurship, management, governance, economics, ethics, business history, as well as family studies.
The Encyclopedia includes contributions from over 60 international experts who provide thoughtful and concise explanations of topics that are vital to understanding family businesses. Together, they explain 115 of the most significant family business topics, including key theories, issues and practices, encompassing a multitude of perspectives on the positive and negative impacts that family ownership and management might have on businesses and society. Comprehensive cross-referencing facilitates a broader understanding of intertwining, overlaps and boundaries between topics.
Key Features:
• Expert contributions from over 60 international family business specialists
• New insights into the complex, multi-disciplinary and wide-ranging world of family business
• Insights from entrepreneurship, management, governance, economics, ethics, business history and family studies
The Encyclopedia will be invaluable for anyone seeking clear explanations of family business topics, whether to put into practice, extend understanding or explore issues anew.
The Encyclopedia includes contributions from over 60 international experts who provide thoughtful and concise explanations of topics that are vital to understanding family businesses. Together, they explain 115 of the most significant family business topics, including key theories, issues and practices, encompassing a multitude of perspectives on the positive and negative impacts that family ownership and management might have on businesses and society. Comprehensive cross-referencing facilitates a broader understanding of intertwining, overlaps and boundaries between topics.
Key Features:
• Expert contributions from over 60 international family business specialists
• New insights into the complex, multi-disciplinary and wide-ranging world of family business
• Insights from entrepreneurship, management, governance, economics, ethics, business history and family studies
The Encyclopedia will be invaluable for anyone seeking clear explanations of family business topics, whether to put into practice, extend understanding or explore issues anew.
Critical Acclaim
‘This Elgar Encyclopedia is a must have on the bookshelf of family business experts. Besides thoroughly covering all foundational issues, it offers an intellectually challenging and encompassing view on family firms grounded in their heterogeneity and in the emergence of several novel phenomena that are deeply affecting these fascinating organizations.’
– Carlo Salvato, Bocconi University, Italy
‘The Elgar Encyclopedia of Family Business is a unique volume in several ways. Professors Carole Howorth and Allan Discua Cruz, two leading scholars in the family business field, have taken on the extraordinary task of compiling an encyclopedia of the most important words and concepts associated with contemporary family business research. Featuring entries from many of the leading family business researchers in the world, the result is an as impressive as comprehensive volume of key insights that will serve as a fundamental academic source of knowledge for all family business scholars.’
– Mattias Nordqvist, Stockholm School of Economics, Sweden
– Carlo Salvato, Bocconi University, Italy
‘The Elgar Encyclopedia of Family Business is a unique volume in several ways. Professors Carole Howorth and Allan Discua Cruz, two leading scholars in the family business field, have taken on the extraordinary task of compiling an encyclopedia of the most important words and concepts associated with contemporary family business research. Featuring entries from many of the leading family business researchers in the world, the result is an as impressive as comprehensive volume of key insights that will serve as a fundamental academic source of knowledge for all family business scholars.’
– Mattias Nordqvist, Stockholm School of Economics, Sweden
Contributors
Contributors include: Jan-Phillip Ahrens, Naveed Akhter, Keanon Jay Alderson, Matt Allen, Hanna Almlöf, Cristina Alvarado, Theresa Arnold, Joseph H. Astrachan, Elizabeth Bagger, Jia Bao, Mary Barrett, Rodrigo Basco, Florian Bauer, Fabian Bernhard, Navneet Bhatnagar, Juliana M. Binhote, Claudia Binz Astrachan, Isabel Botero, Keith Brigham, Mara Brumana, Ethel Brundin, Kirsten Brøndsted Bullock, M. Katiuska Cabrera-Suárez, Andrea Calabrò, Giovanna Campopiano, Emmadonata Carbone, Michael Carney, Jesus Casado, José C. Casillas-Bueno, John James Cater III, Preman Chandranathan, James J. Chrisman, Jess Chua, Alessandro Cirillo, Eric Clinton, Andrea Colli, Justin Craig, Cristina Cruz, Sharon M. Danes, Joshua J. Daspit, James H. Davis, Alexandra Dawson, Alfredo De Massis, Dianna Dempsey, Vanessa Diaz-Moriana, Clay Dibrell, Marleen Dieleman, Paraskevi Dimakou, Allan Discua Cruz, Patricio Duran, Brianna Elizondo, Maria Elo, Mariana Estrada-Robles, Martin Euwema, Lina Eze, Catherine M. Faherty, Hanqing “Chevy” Fang , Tomasz A. Fediuk, Neus Feliu Costa, Feranita Feranita, Denise Fletcher, Bingbing Ge, Daniela Gimenez-Jimenez, Alberto Gimeno, Chris Graves, Judy Green, Vipin Gupta, Kajsa Haag, Elias Hadjielias, Eleanor Hamilton, Jarna Heinonen, Teresa Hogan, Daniel T. Holt, Carole Howorth, Mathew (Mat) Hughes, Tuuli Ikäheimonen, Chiziterem E. Iwumune, Sarah L. Jack, Albert E. James, Alex Kevill, Heiko Kleve, Josip Kotlar, Andrea Kuiken, Rania Labaki, Amanda Lawson, Claire M. Leitch, G.T. Lumpkin, Hans Lundberg, Amaia Maseda, Colin Mason, Olimpia Meglio, Eduardo Meléndez, Nava Michael-Tsabari, Anneleen Michiels, Tommaso Minola, Fabio Matuoka Mizumoto, Claudio G. Muller, Timothy J. Nichol, Henrietta Onwuegbuzie, Dermot O''Reilly, Marcelo Ortiz M., Maria Jose Parada, G. Tyge Payne, Fabien Pecot, Torsten M. Pieper, Timo Pihkala, Daniel Pittino, Markus Plate, Miruna Radu-Lefebvre, Kavil Ramachandran, Marcela Ramírez-Pasillas, Kathleen Randerson, Marita Rautinanen, Valentina Re, John Rogers, Emanuela Rondi, Paul Sanchez-Ruiz, Louise Scholes, Augusto Sequeiros Pumar, Sanjay Sharma, Pramodita Sharma, Jeremy C. Short, Sadek Showkat, Brett Smith, Lucrezia Songini, Nathalie Spielmann, Lloyd P. Steier, Sonia M. Strano, Elizabeth Tetzlaff, Kiran Trehan, Lorraine M. Uhlaner, Judith van Helvert-Beugels, Pedro Vazquez, Lien Vekemans, Arist von Schlippe, Paul Westhead, Jelle Westrik, Deanna L. Williamson, Saisai Wu, Ramona Kay Zachary
Contents
Contents:
Understanding Family Business
Evidence, Assumptions and
Questions: Introduction to the
Elgar Encyclopedia of Family Business xv
Advisory Boards 1
Tuuli Ikäheimonen
Agency Theory 4
Paul Westhead and Carole Howorth
Altruism 6
John James Cater III
Branding 9
Nathalie Spielmann
Business Families 12
Marleen Dieleman
Business History 16
Andrea Colli
Careers 22
Elizabeth Tetzlaff and Albert E.
James
Communication 25
Isabel C. Botero and Tomasz A.
Fediuk
Communities of Practice 29
Eleanor Hamilton
Community Engagement 31
Kiran Trehan
Conflict 36
Cristina Alvarado and Martin
Euwema
Conglomerates 42
Michael Carney
Consultants and Advisors 45
Kavil Ramanachandran and
Navneet Bhatnagar
Contingency theory 49
Miruna Radu-Lefebvre
Continuity and Discontinuity in
Family Business 52
Andrea Kuiken
Cooperatives 56
Elias Hadjielias
Co-preneurs 59
Denise Fletcher
Corporate Entrepreneurship 64
Mara Brumana and Tommaso Minola
Corporate Governance 69
Timothy J. Nichol
Corporate Responsibility 75
Lucrezia Songini
Cultural Variation of Family
Businesses: Africa 81
Henrietta Onwuegbuzie and
Chiziterem E. Iwumune
Cultural Variation of Family
Businesses: Asia 85
Bingbing Ge and Feranita Feranita
Cultural Variation of Family
Business: Australasia 89
Justin Craig
Cultural variation of family
businesses: Central and South America 93
Claudio G. Müller
Cultural Variation of Family
Businesses: Europe 97
José C. Casillas-Bueno and
Augusto Sequeiros Pumar
Cultural Variation of Family
Businesses: North America 102
John Rogers and Clay Dibrell
Death 105
Jarna Heinonen
Definition and Functions of
Business-Owning Families 110
Sharon M. Danes and Ramona
Kay Zachary
Definitions of Family Business 115
Vanessa Diaz-Moriana and
Teresa Hogan
Diaspora and Migrant Business
Families 119
Maria Elo
Divorce 125
Kajsa Haag and Hanna Almlöf
Education of Family Members 129
Elizabeth Bagger
Embeddedness 133
Rodrigo Basco
Emotions 136
Ethel Brundin and Markus Plate
Ethics 141
Pedro Vázquez
Ethnic Family Business 146
Vipin Gupta
Exit 152
Naveed Akhter
Family Business Groups 154
Michael Carney
FBN-I: Family Business
Network International 159
Jesus Casado and Carole Howorth
Family Entrepreneurial Teams 161
Allan Discua Cruz
Family Entrepreneurship 165
Kathleen Randerson
The Family Firm Institute, FFI 168
Judy Green
Family Governance 169
Claudia Binz Astrachan
Family Office 174
Chris Graves
F-PEC: Family—Power,
Experience, and Culture Scale 180
Daniel T. Holt and Sadek Showkat
Family Science 183
Deanna L. Williamson
Familiness 187
M. Katiuska Cabrera-Suárez
Farming Families 190
Fabio Matuoka Mizumoto
Financing the Family Business 194
Anneleen Michiels,
Emmadonata Carbone, Lien
Vekemans, and Alessandro Cirillo
Gender 200
Daniela Gimenez-Jimenez and
Giovanna Campopiano
Genograms 203
Marita Rautiainen
Goals 207
Rodrigo Basco
Growing the Family Firm 210
Saisai Wu, Jia Bao and Jess Chua
Habitual, Portfolio and Serial
Entrepreneurship 214
Allan Discua Cruz
Heritage 219
Fabien Pecot
Heterogeneity 223
Elizabeth Tetzlaff, Dianna
Dempsey and Albert E. James
History of Family Firm Research 225
Joseph H. Astrachan
Home-Based Businesses 231
Colin M. Mason
Human Resources 234
Nava Michael-Tsabari
IFERA, The International
Family Enterprise Research Academy 238
Valentina Re, Isabel Botero,
Josip Kotlar and Torsten Pieper
Imprinting 239
Eric Clinton and Catherine M.
Faherty
Informal Institutions 242
Rodrigo Basco
Inheritance Law 245
Marcelo Ortiz M.
Innovation 248
Alfredo De Massis and
Emanuela Rondi
Internationalization 252
Andrea Calabrò
Knowledge Management 254
M. Katiuska Cabrera-Suárez
Leadership 258
Preman Chandranathan, Claire
M. Leitch and Dermot O’Reilly
Legacy 263
Daniel T. Holt and Juliana M.
Binhote
Long-Term Orientation 265
G.T. Lumpkin, Keith Brigham
and Eduardo Meléndez
Management Buyouts of Family Firms 268
Carole Howorth
Managers in Family Businesses 271
Keanon Jay Alderson
Marketing 274
Nathalie Spielmann
Mergers and Acquisitions 277
Florian Bauer and Olimpia Meglio
Myths 279
Vanessa Diaz-Moriana and
Teresa Hogan
Narratives 282
G. Tyge Payne and Jeremy C. Short
Nepotism 287
Cristina Cruz
Networks 289
Sarah L. Jack and Paraskevi
Dimakou
Next Generation 293
Marcela Ramírez-Pasillas and
Hans Lundberg
Non-Family Employees 298
Elizabeth Tetzlaff and Albert E.
James
Ownership 301
Lorraine M. Uhlaner
Paradoxes 305
Amaia Maseda
Patriarchy 309
Patricio Duran
Performance 311
Jan-Philipp Ahrens
Philanthropy 316
Neus Feliu Costa and Rania Labaki
Primogeniture 322
Daniel Pittino
Private Equity 324
Louise Scholes
Professional Associations 329
Maria Jose Parada, Alberto
Jimeno and Lina Eze
Professionalisation 332
Navneet Bhatnagar and Kavil
Ramachandran
Pruning the Family Tree 338
Carole Howorth
Psychological Ownership 340
Fabian Bernhard
Psychological Safety 342
Elias Hadjielias
Psychology of the Business Family 345
Arist von Schlippe
Religion 353
Amanda Lawson and Brett Smith
Reputation 360
Isabel C. Botero, Sonia M.
Strano and Tomasz A. Fediuk
Resilience 364
Mathew (Mat) Hughes
Retirement 367
Mariana Estrada-Robles and
Alex Kevill
Selling the Family Business 370
Carole Howorth
Social Capital 375
Paul Sanchez-Ruiz, Brianna
Elizondo and Joshua J. Daspit
Socialisation 379
Mary Barrett
Socioemotional Wealth 385
Daniel T. Holt and Kirsten
Brøndsted Bullock
STEP, Society of Trust and
Estate Practitioners 388
Carole Howorth
STEP Project Global Consortium 389
Andrea Calabrò
Stewardship Theory 391
James H. Davis
Strategic Renewal 396
Timo Pihkala
Succession 399
Alexandra Dawson
Succession Planning 403
Alexandra Dawson
Sustainability 406
Pramodita Sharma and Sanjay
Sharma
Systems Theory 412
Theresa Arnold, Heiko Kleve
and Torsten M. Pieper
Theories in Family Firm Research 417
James J. Chrisman, Hanqing
“Chevy” Fang and Lloyd P. Steier
Three Circle Model 423
Judith van Helvert-Beugels and
Jelle Westrik
Transgenerational Entrepreneurship 427
Matt Allen
Trusts 430
Carole Howorth
Values 432
Maria Jose Parada
Widowhood 435
Jarna Heinonen
Women 439
Giovanna Campopiano
Understanding Family Business
Evidence, Assumptions and
Questions: Introduction to the
Elgar Encyclopedia of Family Business xv
Advisory Boards 1
Tuuli Ikäheimonen
Agency Theory 4
Paul Westhead and Carole Howorth
Altruism 6
John James Cater III
Branding 9
Nathalie Spielmann
Business Families 12
Marleen Dieleman
Business History 16
Andrea Colli
Careers 22
Elizabeth Tetzlaff and Albert E.
James
Communication 25
Isabel C. Botero and Tomasz A.
Fediuk
Communities of Practice 29
Eleanor Hamilton
Community Engagement 31
Kiran Trehan
Conflict 36
Cristina Alvarado and Martin
Euwema
Conglomerates 42
Michael Carney
Consultants and Advisors 45
Kavil Ramanachandran and
Navneet Bhatnagar
Contingency theory 49
Miruna Radu-Lefebvre
Continuity and Discontinuity in
Family Business 52
Andrea Kuiken
Cooperatives 56
Elias Hadjielias
Co-preneurs 59
Denise Fletcher
Corporate Entrepreneurship 64
Mara Brumana and Tommaso Minola
Corporate Governance 69
Timothy J. Nichol
Corporate Responsibility 75
Lucrezia Songini
Cultural Variation of Family
Businesses: Africa 81
Henrietta Onwuegbuzie and
Chiziterem E. Iwumune
Cultural Variation of Family
Businesses: Asia 85
Bingbing Ge and Feranita Feranita
Cultural Variation of Family
Business: Australasia 89
Justin Craig
Cultural variation of family
businesses: Central and South America 93
Claudio G. Müller
Cultural Variation of Family
Businesses: Europe 97
José C. Casillas-Bueno and
Augusto Sequeiros Pumar
Cultural Variation of Family
Businesses: North America 102
John Rogers and Clay Dibrell
Death 105
Jarna Heinonen
Definition and Functions of
Business-Owning Families 110
Sharon M. Danes and Ramona
Kay Zachary
Definitions of Family Business 115
Vanessa Diaz-Moriana and
Teresa Hogan
Diaspora and Migrant Business
Families 119
Maria Elo
Divorce 125
Kajsa Haag and Hanna Almlöf
Education of Family Members 129
Elizabeth Bagger
Embeddedness 133
Rodrigo Basco
Emotions 136
Ethel Brundin and Markus Plate
Ethics 141
Pedro Vázquez
Ethnic Family Business 146
Vipin Gupta
Exit 152
Naveed Akhter
Family Business Groups 154
Michael Carney
FBN-I: Family Business
Network International 159
Jesus Casado and Carole Howorth
Family Entrepreneurial Teams 161
Allan Discua Cruz
Family Entrepreneurship 165
Kathleen Randerson
The Family Firm Institute, FFI 168
Judy Green
Family Governance 169
Claudia Binz Astrachan
Family Office 174
Chris Graves
F-PEC: Family—Power,
Experience, and Culture Scale 180
Daniel T. Holt and Sadek Showkat
Family Science 183
Deanna L. Williamson
Familiness 187
M. Katiuska Cabrera-Suárez
Farming Families 190
Fabio Matuoka Mizumoto
Financing the Family Business 194
Anneleen Michiels,
Emmadonata Carbone, Lien
Vekemans, and Alessandro Cirillo
Gender 200
Daniela Gimenez-Jimenez and
Giovanna Campopiano
Genograms 203
Marita Rautiainen
Goals 207
Rodrigo Basco
Growing the Family Firm 210
Saisai Wu, Jia Bao and Jess Chua
Habitual, Portfolio and Serial
Entrepreneurship 214
Allan Discua Cruz
Heritage 219
Fabien Pecot
Heterogeneity 223
Elizabeth Tetzlaff, Dianna
Dempsey and Albert E. James
History of Family Firm Research 225
Joseph H. Astrachan
Home-Based Businesses 231
Colin M. Mason
Human Resources 234
Nava Michael-Tsabari
IFERA, The International
Family Enterprise Research Academy 238
Valentina Re, Isabel Botero,
Josip Kotlar and Torsten Pieper
Imprinting 239
Eric Clinton and Catherine M.
Faherty
Informal Institutions 242
Rodrigo Basco
Inheritance Law 245
Marcelo Ortiz M.
Innovation 248
Alfredo De Massis and
Emanuela Rondi
Internationalization 252
Andrea Calabrò
Knowledge Management 254
M. Katiuska Cabrera-Suárez
Leadership 258
Preman Chandranathan, Claire
M. Leitch and Dermot O’Reilly
Legacy 263
Daniel T. Holt and Juliana M.
Binhote
Long-Term Orientation 265
G.T. Lumpkin, Keith Brigham
and Eduardo Meléndez
Management Buyouts of Family Firms 268
Carole Howorth
Managers in Family Businesses 271
Keanon Jay Alderson
Marketing 274
Nathalie Spielmann
Mergers and Acquisitions 277
Florian Bauer and Olimpia Meglio
Myths 279
Vanessa Diaz-Moriana and
Teresa Hogan
Narratives 282
G. Tyge Payne and Jeremy C. Short
Nepotism 287
Cristina Cruz
Networks 289
Sarah L. Jack and Paraskevi
Dimakou
Next Generation 293
Marcela Ramírez-Pasillas and
Hans Lundberg
Non-Family Employees 298
Elizabeth Tetzlaff and Albert E.
James
Ownership 301
Lorraine M. Uhlaner
Paradoxes 305
Amaia Maseda
Patriarchy 309
Patricio Duran
Performance 311
Jan-Philipp Ahrens
Philanthropy 316
Neus Feliu Costa and Rania Labaki
Primogeniture 322
Daniel Pittino
Private Equity 324
Louise Scholes
Professional Associations 329
Maria Jose Parada, Alberto
Jimeno and Lina Eze
Professionalisation 332
Navneet Bhatnagar and Kavil
Ramachandran
Pruning the Family Tree 338
Carole Howorth
Psychological Ownership 340
Fabian Bernhard
Psychological Safety 342
Elias Hadjielias
Psychology of the Business Family 345
Arist von Schlippe
Religion 353
Amanda Lawson and Brett Smith
Reputation 360
Isabel C. Botero, Sonia M.
Strano and Tomasz A. Fediuk
Resilience 364
Mathew (Mat) Hughes
Retirement 367
Mariana Estrada-Robles and
Alex Kevill
Selling the Family Business 370
Carole Howorth
Social Capital 375
Paul Sanchez-Ruiz, Brianna
Elizondo and Joshua J. Daspit
Socialisation 379
Mary Barrett
Socioemotional Wealth 385
Daniel T. Holt and Kirsten
Brøndsted Bullock
STEP, Society of Trust and
Estate Practitioners 388
Carole Howorth
STEP Project Global Consortium 389
Andrea Calabrò
Stewardship Theory 391
James H. Davis
Strategic Renewal 396
Timo Pihkala
Succession 399
Alexandra Dawson
Succession Planning 403
Alexandra Dawson
Sustainability 406
Pramodita Sharma and Sanjay
Sharma
Systems Theory 412
Theresa Arnold, Heiko Kleve
and Torsten M. Pieper
Theories in Family Firm Research 417
James J. Chrisman, Hanqing
“Chevy” Fang and Lloyd P. Steier
Three Circle Model 423
Judith van Helvert-Beugels and
Jelle Westrik
Transgenerational Entrepreneurship 427
Matt Allen
Trusts 430
Carole Howorth
Values 432
Maria Jose Parada
Widowhood 435
Jarna Heinonen
Women 439
Giovanna Campopiano
