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Trends and Directions in the Development of a Strategic Management Theory of the Family Firm

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  • James J. Chrisman
  • Jess H. Chua
  • Pramodita Sharma

Abstract

This article provides a review of important trends in the strategic management approach to studying family firms: convergence in definitions, accumulating evidence that family involvement may affect performance, and the emergence of agency theory and the resource–based view of the firm as the leading theoretical perspectives. We conclude by discussing directions for future research and other promising approaches to inform the inquiry concerning family business.

Suggested Citation

  • James J. Chrisman & Jess H. Chua & Pramodita Sharma, 2005. "Trends and Directions in the Development of a Strategic Management Theory of the Family Firm," Entrepreneurship Theory and Practice, , vol. 29(5), pages 555-575, September.
    • Handle: RePEc:sae:entthe:v:29:y:2005:i:5:p:555-575
    DOI: 10.1111/j.1540-6520.2005.00098.x
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