The Effect of Family Business Professionalization as a Multidimensional Construct on Firm Performance

被引:96
|
作者
Dekker, Julie [1 ,2 ]
Lybaert, Nadine [2 ,3 ]
Steijvers, Tensie [1 ,2 ]
Depaire, Benoit [1 ,4 ]
机构
[1] Hasselt Univ, Res Foundation Flanders FWO, B-3590 Diepenbeek, Belgium
[2] Hasselt Univ, Ctr Entrepreneurship & Innovat KIZOK, B-3590 Diepenbeek, Belgium
[3] Univ Antwerp, Antwerp, Belgium
[4] Hasselt Univ, Business Informat Res Grp, B-3590 Diepenbeek, Belgium
关键词
MANAGEMENT CONTROL-SYSTEMS; WORK GROUP CHARACTERISTICS; AGENCY COSTS; OWNERSHIP; IMPACT; GOVERNANCE; SUCCESSION; TEAM; CONSEQUENCES; PRODUCTIVITY;
D O I
10.1111/jsbm.12082
中图分类号
C93 [管理学];
学科分类号
12 ; 1201 ; 1202 ; 120202 ;
摘要
In family business literature, business professionalization is often simplified into a binary characteristic, that is, the presence of a nonfamily manager. We contend that other professionalization features, which may act simultaneously, can influence firm performance. This study addresses professionalization as a multidimensional construct, as intended by general management literature, and assesses the impact on business performance based on these underlying dimensions. Using a representative sample of 523 private Belgian family businesses, we identify five different dimensions of the professionalization construct by means of an exploratory factor analysis. Further regression results revealed significant positive effects of increasing nonfamily involvement, implementing human resource control systems, and/or decentralizing authority on firm performance. However, nonfamily involvement only seems to improve firm performance if there is sufficient decentralization of authority and an average or even low amount of formal financial control systems.
引用
收藏
页码:516 / 538
页数:23
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