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

Author

Listed:
  • Ceja, Lucia

    (IESE Business School)

  • Tapies, Josep

    (IESE Business School)

Abstract

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.

Suggested Citation

  • Ceja, Lucia & Tapies, Josep, 2011. "Corporate values guiding the world's largest family-owned businesses: A comparison with non-family firms," IESE Research Papers D/916, IESE Business School.
    • Handle: RePEc:ebg:iesewp:d-0916
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    File URL: http://www.iese.edu/research/pdfs/DI-0916-E.pdf
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    Cited by:

    1. Jaehun Joo & Azizbek Marakhimov, 2018. "Antecedents of customer participation in business ecosystems: evidence of customers’ psychological ownership in Facebook," Service Business, Springer;Pan-Pacific Business Association, vol. 12(1), pages 1-23, March.

    More about this item

    Keywords

    family-owned firms; corporate values; positive psychology; family-business values;
    All these keywords.

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