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The critical path to family firm success through entrepreneurial risk taking and image

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  • Memili, Esra
  • Eddleston, Kimberly A.
  • Kellermanns, Franz W.
  • Zellweger, Thomas M.
  • Barnett, Tim

Abstract

Drawing from organizational identity theory, we explore how family ownership and family expectations influence family firm image and entrepreneurial risk taking, and ultimately firm performance. We find support for a fully mediated model, utilizing a sample of 163 Swiss family firms. Family ownership was shown to positively influence the development of a family firm image. High family expectations of the firm leader was shown to promote a family firm image and risk taking. In turn, risk taking and family firm image contributed to firm performance. Accordingly, our study identifies why family ownership and family expectations can benefit family firm performance--through their influence on family firm image and entrepreneurial risk taking.

Suggested Citation

  • Memili, Esra & Eddleston, Kimberly A. & Kellermanns, Franz W. & Zellweger, Thomas M. & Barnett, Tim, 2010. "The critical path to family firm success through entrepreneurial risk taking and image," Journal of Family Business Strategy, Elsevier, vol. 1(4), pages 200-209, December.
  • Handle: RePEc:eee:fambus:v:1:y:2010:i:4:p:200-209
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    References listed on IDEAS

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    Cited by:

    1. Bee, Colleen & Neubaum, Donald O., 2014. "The role of cognitive appraisal and emotions of family members in the family business system," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 323-333.
    2. Fitó, M. Àngels & Moya, Soledad & Orgaz, Neus, 2013. "The debate on rented assets capitalization: The economic impact on family firms," Journal of Family Business Strategy, Elsevier, vol. 4(4), pages 260-269.
    3. Basco, Rodrigo, 2013. "The family's effect on family firm performance: A model testing the demographic and essence approaches," Journal of Family Business Strategy, Elsevier, vol. 4(1), pages 42-66.
    4. Goel, Sanjay & Mazzola, Pietro & Phan, Phillip H. & Pieper, Torsten M. & Zachary, Ramona K., 2012. "Strategy, ownership, governance, and socio-psychological perspectives on family businesses from around the world," Journal of Family Business Strategy, Elsevier, vol. 3(2), pages 54-65.
    5. Madison, Kristen & Runyan, Rodney C. & Swinney, Jane L., 2014. "Strategic posture and performance: Revealing differences between family and nonfamily firms," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 239-251.
    6. Bjursell, Cecilia, 2011. "Cultural divergence in merging family businesses," Journal of Family Business Strategy, Elsevier, vol. 2(2), pages 69-77, June.
    7. Hossein Samei & Alireza Feyzbakhsh, 2015. "A Framework of Successor Competencies to Promote Corporate Entrepreneurship in Family Firms," Journal of Enterprising Culture (JEC), World Scientific Publishing Co. Pte. Ltd., vol. 23(03), pages 321-355, September.
    8. Zellweger, Thomas M. & Kellermanns, Franz W. & Eddleston, Kimberly A. & Memili, Esra, 2012. "Building a family firm image: How family firms capitalize on their family ties," Journal of Family Business Strategy, Elsevier, vol. 3(4), pages 239-250.
    9. Barros, Ismael & Hernangómez, Juan & Martin-Cruz, Natalia, 2016. "A theoretical model of strategic management of family firms. A dynamic capabilities approach," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 149-159.
    10. Hiebl, Martin R.W., 2013. "Bean counter or strategist? Differences in the role of the CFO in family and non-family businesses," Journal of Family Business Strategy, Elsevier, vol. 4(2), pages 147-161.
    11. Binz, Claudia & Hair, Joseph F. & Pieper, Torsten M. & Baldauf, Artur, 2013. "Exploring the effect of distinct family firm reputation on consumers’ preferences," Journal of Family Business Strategy, Elsevier, vol. 4(1), pages 3-11.
    12. Gallucci, Carmen & Santulli, Rosalia & Calabrò, Andrea, 2015. "Does family involvement foster or hinder firm performance? The missing role of family-based branding strategies," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 155-165.
    13. Astrachan, Claudia Binz & Patel, Vijay K. & Wanzenried, Gabrielle, 2014. "A comparative study of CB-SEM and PLS-SEM for theory development in family firm research," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 116-128.
    14. repec:spr:rvmgts:v:12:y:2018:i:1:d:10.1007_s11846-016-0216-x is not listed on IDEAS
    15. Botero, Isabel C., 2014. "Effects of communicating family ownership and organisational size on an applicant's attraction to a firm: An empirical examination in the USA and China," Journal of Family Business Strategy, Elsevier, vol. 5(2), pages 184-196.
    16. Sanchez-Famoso, Valeriano & Iturralde Jainaga, Txomin & Maseda García, Amaia, 2015. "Kapital sozialaren garrantzia familia enpresetan," Revista de Dirección y Administración de Empresas, Universidad del País Vasco - Escuela Universitaria de Estudios Empresariales de San Sebastián.
    17. Dawson, Alexandra & Mussolino, Donata, 2014. "Exploring what makes family firms different: Discrete or overlapping constructs in the literature?," Journal of Family Business Strategy, Elsevier, vol. 5(2), pages 169-183.

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