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Application of Grey Systems Theory in the Analysis of Data Obtained from Family Businesses

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  • Ewa Wiecek-Janka
  • Rafal Mierzwiak
  • Marcin Nowak
  • Agnieszka Kujawinska
  • Joanna Majchrzak

Abstract

Purpose: The article presents a methodology whose aim was: first, to present the problem of the influence of conflicts upon family and business spheres in family businesses and to conduct a statistical analysis on a large sample, second: to check whether similar results can be obtained making use of small samples, randomly chosen from a large sample and analyzed using Grey Systems Theory tools. Design/Methodology/Approach: The obtained data was used for correlation analyses and analyses that follow the procedure of Grey Incidence Analysis. The research outcome corroborated the convergence of results for both analytical approaches, which, according to the authors, allows the presented research methodology to be used with small samples of family businesses. Findings: The obtained research results confirm the hypothesis which says that the results of conclusions drawn from a small amount of data using the GST methods are in keeping with the results of correlational research for a large amount of data defining the same phenomenon. Practical implications: The results of the research indicate the usefulness of grey incidence analysis in empirical research on family business issues. Originality/value: The research presented in the article is a positive verification of grey analytical models which can be extremely useful for empirical analyses conducted on small research samples.

Suggested Citation

  • Ewa Wiecek-Janka & Rafal Mierzwiak & Marcin Nowak & Agnieszka Kujawinska & Joanna Majchrzak, 2021. "Application of Grey Systems Theory in the Analysis of Data Obtained from Family Businesses," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 1), pages 494-510.
    • Handle: RePEc:ers:journl:v:xxiv:y:2021:i:special1:p:494-510
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    References listed on IDEAS

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    1. Comi, Alice & Eppler, Martin J., 2014. "Diagnosing capabilities in family firms: An overview of visual research methods and suggestions for future applications," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 41-51.
    2. Kudlats, Jerry & Money, Arthur & Hair, Joseph F., 2014. "Correspondence analysis: A promising technique to interpret qualitative data in family business research," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 30-40.
    3. Stamm, Isabell & Lubinski, Christina, 2011. "Crossroads of family business research and firm demography—A critical assessment of family business survival rates," Journal of Family Business Strategy, Elsevier, vol. 2(3), pages 117-127.
    4. William S. Schulze & Michael H. Lubatkin & Richard N. Dino & Ann K. Buchholtz, 2001. "Agency Relationships in Family Firms: Theory and Evidence," Organization Science, INFORMS, vol. 12(2), pages 99-116, April.
    5. De Massis, Alfredo & Kotlar, Josip, 2014. "The case study method in family business research: Guidelines for qualitative scholarship," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 15-29.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Family business; small sample; grey systems theory; grey incidence analysis.;
    All these keywords.

    JEL classification:

    • C19 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Other
    • C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
    • C89 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Other

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