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Corporate values guiding the world's largest family-owned businesses: A comparison with non-family firms

  • Ceja, Lucia

    ()

    (IESE Business School)

  • Tapies, Josep

    (IESE Business School)

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    This paper analyzes formally stated corporate values, a key topic of concern in the field of family businesses. More specifically, the study aims to contribute to the literature by enabling a deeper understanding of the differences and similarities of the corporate values at the foundation of the world's top 100 largest family-owned firms and non-family businesses. According to the study findings, the values of integrity, respect, and customers are the top three most-mentioned values in both family-owned businesses and non-family companies. Likewise, there are distinct values that are mentioned often by family-owned firms and seldom stated or not stated at all by non-family businesses. These values tend to be more people-oriented; emphasize collectivity more than individuality; and support a long-term perspective and a sense of stewardship and responsibility toward the future of the family and the community in which the business operates.

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    File URL: http://www.iese.edu/research/pdfs/DI-0916-E.pdf
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    Paper provided by IESE Business School in its series IESE Research Papers with number D/916.

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    Length: 20 pages
    Date of creation: 09 Mar 2011
    Date of revision:
    Handle: RePEc:ebg:iesewp:d-0916
    Contact details of provider: Postal: IESE Business School, Av Pearson 21, 08034 Barcelona, SPAIN
    Web page: http://www.iese.edu/

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