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Concilier finance et management dans les entreprises familiales

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  • Gérard Hirigoyen

Abstract

What makes family firms so specific is their ambivalence : one family, one firm. Both universes have needs, goals, life and beliefs of their own. Two competing universes : on one hand, the family where feelings rule and on the other hand, the firm, governed by rationality. The subtle coexistence of each leads to conflicts, some of them threatening the survival of the firm and, indeed generate agency costs that diminish its performance. The problem is to know how conciliation between finance and management is possible. This paper tries to demonstrate the proper answer depends on the way those companies are managed and, more widely the way they are governed.

Suggested Citation

  • Gérard Hirigoyen, 2009. "Concilier finance et management dans les entreprises familiales," Revue française de gestion, Lavoisier, vol. 0(8), pages 393-411.
    • Handle: RePEc:cai:rfglav:rfg_198_0393
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    Citations

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    Cited by:

    1. Patrice Charlier & Céline Duboys, 2011. "Gouvernance familiale et politique de distribution aux actionnaires," Revue Finance Contrôle Stratégie, revues.org, vol. 14(1), pages 5-31., March.
    2. Kadouamaï Souleymanou, 2018. "Du népotisme au mécanisme de contrôle interne informel dans les PME familiales en Afrique," Post-Print hal-01907913, HAL.
    3. nadia RASSOUL, 2018. "Importance du mode de financement dans la pérennité des entreprises familiales algériennes," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 9(1), pages 91-103, June.
    4. nadia RASSOUL, 2018. "L' Importance du mode de financement dans la pérennité des entreprises familiales algériennes," Journal of Academic Finance, RED research unit, university of Gabes, Tunisia, vol. 9(1), pages 91-103, June.
    5. Gerard Hirigoyen & Djibrilla Moussa Ousseini, 2017. "Investment Decisions in Unlisted Family Businesses," Post-Print hal-03360818, HAL.
    6. Hirigoyen, Gérard & Labaki, Rania, 2012. "The role of regret in the owner-manager decision-making in the family business: A conceptual approach," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 118-126.
    7. Patrice Charlier & Céline Du Boys, 2011. "Family governance and payout policies to shareholders [Gouvernance familiale et politique de distribution aux actionnaires]," Post-Print hal-01470330, HAL.
    8. Gérard Hirigoyen & Thierry Poulain-Rehm, 2014. "The Corporate Social Responsibility of Family Businesses: An International Approach," Post-Print hal-01382070, HAL.
    9. Gérard Hirigoyen & Thierry Poulain-Rehm, 2014. "The Corporate Social Responsibility of Family Businesses: An International Approach," IJFS, MDPI, vol. 2(3), pages 1-26, July.

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