Corporate values guiding the world's largest family-owned businesses: A comparison with non-family firms
AbstractThis paper analyzes formally stated corporate values, a key topic of concern in the field of family businesses. More specifically, the study aims to contribute to the literature by enabling a deeper understanding of the differences and similarities of the corporate values at the foundation of the world's top 100 largest family-owned firms and non-family businesses. According to the study findings, the values of integrity, respect, and customers are the top three most-mentioned values in both family-owned businesses and non-family companies. Likewise, there are distinct values that are mentioned often by family-owned firms and seldom stated or not stated at all by non-family businesses. These values tend to be more people-oriented; emphasize collectivity more than individuality; and support a long-term perspective and a sense of stewardship and responsibility toward the future of the family and the community in which the business operates.
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Bibliographic InfoPaper provided by IESE Business School in its series IESE Research Papers with number D/916.
Length: 20 pages
Date of creation: 09 Mar 2011
Date of revision:
family-owned firms; corporate values; positive psychology; family-business values;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-05-30 (All new papers)
- NEP-BEC-2011-05-30 (Business Economics)
- NEP-CFN-2011-05-30 (Corporate Finance)
- NEP-HIS-2011-05-30 (Business, Economic & Financial History)
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