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Building a family firm image: How family firms capitalize on their family ties

Listed author(s):
  • Zellweger, Thomas M.
  • Kellermanns, Franz W.
  • Eddleston, Kimberly A.
  • Memili, Esra

We apply organizational identity theory to examine factors that lead family firms to create a family firm image and investigate how a family firm image impacts firm performance. We find that family firm pride, community social ties, and long-term orientation are positively associated with the inclination of a firm to portray itself as a family business to consumers and stakeholders. In turn, we find that a family firm image benefits firm performance. Thus, our study demonstrates that by building a family firm image, the unique family influences on the firm can be leveraged to create a competitive advantage for family firms.

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Article provided by Elsevier in its journal Journal of Family Business Strategy.

Volume (Year): 3 (2012)
Issue (Month): 4 ()
Pages: 239-250

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Handle: RePEc:eee:fambus:v:3:y:2012:i:4:p:239-250
DOI: 10.1016/j.jfbs.2012.10.001
Contact details of provider: Web page: http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/description#description

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  1. Kimberly A. Eddleston & Franz Willi Kellermanns & Ravi Sarathy, 2008. "Resource Configuration in Family Firms: Linking Resources, Strategic Planning and Technological Opportunities to Performance," Journal of Management Studies, Wiley Blackwell, vol. 45(1), pages 26-50, January.
  2. Mike Burkart & Fausto Panunzi & Andrei Shleifer, 2003. "Family Firms," Journal of Finance, American Finance Association, vol. 58(5), pages 2167-2202, October.
  3. Zellweger, Thomas M. & Eddleston, Kimberly A. & Kellermanns, Franz W., 2010. "Exploring the concept of familiness: Introducing family firm identity," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 54-63, March.
  4. Anderson, Ronald C. & Mansi, Sattar A. & Reeb, David M., 2003. "Founding family ownership and the agency cost of debt," Journal of Financial Economics, Elsevier, vol. 68(2), pages 263-285, May.
  5. Danny Miller & Isabelle Le Breton-Miller & Barry Scholnick, 2008. "Stewardship vs. Stagnation: An Empirical Comparison of Small Family and Non-Family Businesses," Journal of Management Studies, Wiley Blackwell, vol. 45(1), pages 51-78, January.
  6. Jean-Luc Arregle & Michael A. Hitt & David G. Sirmon & Philippe Very, 2007. "The Development of Organizational Social Capital: Attributes of Family Firms," Journal of Management Studies, Wiley Blackwell, vol. 44(1), pages 73-95, January.
  7. 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.
  8. Eddleston, Kimberly A. & Kellermanns, Franz W., 2007. "Destructive and productive family relationships: A stewardship theory perspective," Journal of Business Venturing, Elsevier, vol. 22(4), pages 545-565, July.
  9. Leuthesser, Lance & Kohli, Chiranjeev, 1997. "Corporate identity: The role of mission statements," Business Horizons, Elsevier, vol. 40(3), pages 59-66.
  10. Yan Ling & Franz W. Kellermanns, 2010. "The Effects of Family Firm Specific Sources of TMT Diversity: The Moderating Role of Information Exchange Frequency," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 322-344, March.
  11. Klein, Benjamin & Leffler, Keith B, 1981. "The Role of Market Forces in Assuring Contractual Performance," Journal of Political Economy, University of Chicago Press, vol. 89(4), pages 615-641, August.
  12. Noel Capon & John U. Farley & Scott Hoenig, 1990. "Determinants of Financial Performance: A Meta-Analysis," Management Science, INFORMS, vol. 36(10), pages 1143-1159, October.
  13. Habbershon, Timothy G. & Williams, Mary & MacMillan, Ian C., 2003. "A unified systems perspective of family firm performance," Journal of Business Venturing, Elsevier, vol. 18(4), pages 451-465, July.
  14. Beatty, Randolph P. & Ritter, Jay R., 1986. "Investment banking, reputation, and the underpricing of initial public offerings," Journal of Financial Economics, Elsevier, vol. 15(1-2), pages 213-232.
  15. Harvey James, 1999. "Owner as Manager, Extended Horizons and the Family Firm," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(1), pages 41-55.
  16. Chrisman, James J. & Chua, Jess H. & Kellermanns, Franz W. & Chang, Erick P.C., 2007. "Are family managers agents or stewards? An exploratory study in privately held family firms," Journal of Business Research, Elsevier, vol. 60(10), pages 1030-1038, October.
  17. Walter, Jorge & Lechner, Christoph & Kellermanns, Franz W., 2007. "Knowledge transfer between and within alliance partners: Private versus collective benefits of social capital," Journal of Business Research, Elsevier, vol. 60(7), pages 698-710, July.
  18. Luis R. Gomez-Mejia & Marianna Makri & Martin Larraza Kintana, 2010. "Diversification Decisions in Family-Controlled Firms," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 223-252, March.
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