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Is What’s Good for the Business, Good for the Family: A Financial Assessment

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  • George Haynes

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  • Joseph Onochie

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  • Glenn Muske

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Abstract

Small business prosperity doesn’t necessarily translate into family prosperity. This study utilizes the first and second waves of the National Family Business Survey to explore the influence of changes in key business financial measures on objective and subjective measures of family success. Increases in the available cash in the business from higher gross sales or net profits brings more cash into the household, while increases in the market value of the business increases the amount of money spent on other household assets. A more subjective assessment suggests that positive changes in the business financial measures create a more positive perception of the business’ success; however, these positive changes have no influence on a more positive perception of the family’s success. Copyright Springer Science+Business Media, LLC 2007

Suggested Citation

  • George Haynes & Joseph Onochie & Glenn Muske, 2007. "Is What’s Good for the Business, Good for the Family: A Financial Assessment," Journal of Family and Economic Issues, Springer, vol. 28(3), pages 395-409, September.
  • Handle: RePEc:kap:jfamec:v:28:y:2007:i:3:p:395-409 DOI: 10.1007/s10834-007-9069-4
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    References listed on IDEAS

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    1. Stewart C. Myers & Nicholas S. Majluf, 1984. "Corporate Financing and Investment Decisions When Firms Have InformationThat Investors Do Not Have," NBER Working Papers 1396, National Bureau of Economic Research, Inc.
    2. Myers, Stewart C. & Majluf, Nicholas S., 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Journal of Financial Economics, Elsevier, vol. 13(2), pages 187-221, June.
    3. Leeth, John D. & Scott, Jonathan A., 1989. "The Incidence of Secured Debt: Evidence from the Small Business Community," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 24(03), pages 379-394, September.
    4. Romano, Claudio A. & Tanewski, George A. & Smyrnios, Kosmas X., 2001. "Capital structure decision making: A model for family business," Journal of Business Venturing, Elsevier, vol. 16(3), pages 285-310, May.
    5. Myers, Stewart C. & Majluf, Nicolás S., 1945-, 1984. "Corporate financing and investment decisions when firms have information that investors do not have," Working papers 1523-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    6. Zanita Zody & Douglas Sprenkle & Shelley MacDermid & Holly Schrank, 2006. "Boundaries and the Functioning of Family and Business Systems," Journal of Family and Economic Issues, Springer, vol. 27(2), pages 185-206, June.
    7. Myers, Stewart C., 1984. "Capital structure puzzle," Working papers 1548-84., Massachusetts Institute of Technology (MIT), Sloan School of Management.
    8. Myers, Stewart C, 1984. " The Capital Structure Puzzle," Journal of Finance, American Finance Association, vol. 39(3), pages 575-592, July.
    9. Stewart C. Myers, 1984. "Capital Structure Puzzle," NBER Working Papers 1393, National Bureau of Economic Research, Inc.
    10. Olson, Patricia D. & Zuiker, Virginia S. & Danes, Sharon M. & Stafford, Kathryn & Heck, Ramona K. Z. & Duncan, Karen A., 2003. "The impact of the family and the business on family business sustainability," Journal of Business Venturing, Elsevier, vol. 18(5), pages 639-666, September.
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    Cited by:

    1. Amber Remble & Maria Marshall & Roman Keeney, 2014. "Household Saving Behavior and the Influence of Family-Owned Business," Journal of Family and Economic Issues, Springer, vol. 35(3), pages 411-422, September.

    More about this item

    Keywords

    Business; Family; Financial; Success;

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