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Family small businesses: definition, 'essence' and 'true' prevalence

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  • Calvin Wang

Abstract

The rapid growth of the family business field is based on the purported prevalence and economic contributions of the family firm. However, such estimations are highly dependent on the question of what in fact constitutes a 'family business'. Unfortunately, a universally accepted definition remains an elusive outcome for the field. It has been suggested that any definition used should capture the 'essence' of the family business by focusing on the vision, intentions and behaviour of people who own, govern and/or manage the business. Since the majority of family businesses are small businesses, this paper applies the 'essence' criterion to empirically explore the 'true' prevalence of the family firm in a sample of small businesses. Findings and their implications for defining the family business are presented.

Suggested Citation

  • Calvin Wang, 2010. "Family small businesses: definition, 'essence' and 'true' prevalence," International Journal of Entrepreneurial Venturing, Inderscience Enterprises Ltd, vol. 2(3/4), pages 276-290.
  • Handle: RePEc:ids:ijeven:v:2:y:2010:i:3/4:p:276-290
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    Cited by:

    1. Ticián Baranyai & Miklós Kozma, 2019. "Family Firms with New Leaders in the Global Market.– A Potential Success Story?," Acta Oeconomica, Akadémiai Kiadó, Hungary, vol. 69(supplemen), pages 131-162, December.

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