A Review and Annotated Bibliography of Family Business Studies PDF
Preview A Review and Annotated Bibliography of Family Business Studies
A REVIEW AND ANNOTATED BIBLIOGRAPHY OF FAMILY BUSINESS STUDIES DEDICATED TO OUR FAMILIES Sanjay Smita Chander and Yoginer Joshi Sushma and Madan Mohan Sha Vina Aparna Dinkar Karen N. Chrisman James John Chrisman Mildred N. Chrisman David P. Chrisman John N.Chrisman Sherrie Chrisman Louise Chrisman Alicia Alba Ray Alba Vernon Waller Jeanette Waller Ronald Waller Shem Miller Eva Kan Simon Chuahe Loreta Huan Flora and Alfonso Lim William and Tita Chua Ely and Annie Chua Gene and Cherie Chua Oscar and Jane Chua Natividad and Johnny So A REVIEW AND ANNOTATED BIBLIOGRAPHY OF FAMILY BUSINESS STUDIES by PRAMODITA SHARMA Ph.D. Candidate, Policy and Environment Area Faculty of Management The University of Calgary JAMES J. CHRISMAN, Ph.D. Professor of Venture Development Faculty of Management The University of Calgary JESS H. CHUA, Ph.D. Professor of Finance Faculty of Management The University of Calgary Kluwer Academic Publishers BostonfDordrecht/London Distributors for North America: Kluwer Academic Publishers 10I Philip Drive Assinippi Park Norwell, Massachusetts 02061 USA Distributors for all other countries: Kluwer Academic Publishers Group DistributionCentre Post Office Box 322 3300 AH Dordrecht, THE NETHERLANDS Library of Congress Cataloging-in-Publication Data A C.I.P. Catalogue record for this book is available from the Library of Congress. Copyright e 1996by Kluwer Academic Publishers All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form or by any means, mechanical, photo-copying, recording, or otherwise, without thepriorwrittenpermission of the publisher, Kluwer Academic Publishers, 101Philip Drive, Assinippi Park, Norwell, Massachusetts 02061 Printed on acid-free paper. Printed in the United Statesof America CONTENTS PREFACE ix Acknowledgments x Section 1 A REVIEW OF THE FAMILY BUSINESS LITERATURE Definition of a family business 3 Strategic management as an organizing framework 8 Goals and objectives 9 Strategy formulation and content 10 Strategy implementation and design 11 Strategic evaluation and control 13 General management and ownership issues 14 Organizational evolution and change 18 Family influence 20 Family involvement in the business 20 Uniqueness of the family business 24 Types of family business 25 Other Issues Studied 26 Ethnicity 26 Professional advice 27 Methodological issues 28 Conclusion 29 Suggested Research Questions 29 Definitional issues 29 Strategic management issues 29 vi Family influence 31 Other issues 32 References 33 Section 2 A CLASSIFICATION OF THE ARTICLES ANNOTATED 51 Section 3 THE ANNOTATED BIBLIOGRAPHY 87 Section 4 BIBLIOGRAPHY OF ARTICLES NOT ANNOTATED 257 Section 5 SUBJECT INDEX 271 PREFACE Interest inthestudy offamily business has increased verysignificantly over the last decade. This is evident in the number of articles published about family business andthenumber ofuniversities thathavestarted familybusiness research and teaching programs. Weoriginallyprepared this review andannotated bibliography forourselves tolearn about thefamily business literature. Colleagues whosaw itencouraged us to publish it as an introduction to the literature. While we cannot claim that all major articles written about thesubject offamily business are reported here, wehave made an effort to include all those of which we are aware. This review and annotated bibliography is divided into four sections. The first section reviews the research done in this field by identifying the major areas of interest, the contributions, and controversies. It also presents an extensive list of topics for further research. In section 2, we classify the articles annotated according to research topic, summarizing the type of research and key finding of each article annotated. This provides a simple guide to the research published under each topic. The third section contains the annotated bibliography with the annotations arranged by author in alphabetical order. We categorize each article as an empirical study, a conceptual or theoretical article, acase study, a review article, a consulting report,ora professional advice. Forempirical studies, wealso report the sample, the method of data collection, and the data analysis performed. The main part of each annotation is a summary of the key points made in the article. The conclusions, conjectures, and opinions presented in each annotation are entirely those of the author(s) of the article, as we interpreted them. Wemake no attempt to express our opinion as to the relevance of the research topic, the quality of the research, or the justification for the conclusions. Key words are listed at the end of each annotation to provide a quick reference to the dominant themes in the article. In the fourth section, we present aselected bibliography of articles:papers, books, and dissertations of which we are aware but have not annotated. In the last section we provide a subject index. We hope that this work gives family business owners, managers, consultants, researchers, andeducators acomprehensiveandeasy to-use guide to the emerging and fascinating field of family business. Acknowledgments We would like to thank the Faculty of Management at The University of Calgary for its support throughout the duration of this project. A large part of the funding came from the endowment for family business research set up by an anonymous donor. 1 A REVIEW OF THE FAMILY BUSINESS LITERATURE Recently, there has been a significant rise in interest about family firms. As evidence, the American Business Index - Global shows that the number of articles related to family business rose from 188,during the 14year period between January 1971and December 1985,to 680 for the period from 1986 to 1995. As interest inafield increases, it isuseful to takeinventory of thework thathas been done and integrate the findings in order to consolidate the existing knowledge. This reflective process is necessary to provide directions for future research and derive maximum benefit from previous research efforts (Low & MacMillan, 1988). The purpose of this review is to provide such a reflection. Other reviews of the family business literature have appeared in the past few years (Handler & Kram, 1988; Hollander & Elman, 1988; Handler, 1989; Friedman, 1991; Marshack, 1993; Wortman, 1994)butthey addressed specific topics. Here, we attempt to organizeand classify a major portion of the literature. This review results from our reading of 226 articles in 32 major journals. It is organized as follows:first, we address how the literature defines a family business; second, we organize a large part of the literature usin, a strategic management framework;third,we look at the literature about the family's influence on the family business; finally, other issues raised in the literature but not discussed in the first three sections form the last section. DEFINITION OF A FAMILY BUSINESS Thefamily business literature (Desmon &Brush, 1991;Upton,Vinton, Seaman, & Moore, 1993) does not subscribe to a single definition of family business. We found thirty-four different definitions in our survey; these are presented in Table 1. Various authors have called for a systematic analysis of the commonalities in the definitions (Lansberg, Perrow, & Rogolsky, 1988; Wortman, 1994), but few such analyses have been attempted. Handler(1989)identifies four dimensionsused bywriters inthefamily business literature to define the family firm:degree of ownership and management by family members, interdependentsub-systems,generationaltransfer,andmultipleconditions. Sheobserves thatalthough there isnoconsensus astowhatuniquelydefines afamily business;there seems tobeageneral agreement thatthe dimensionsto be considered are the first three. 4 Table 1 Definitions of Family Business AUTHOR DEFINITION (YEAR) OWNERSHIP-MANAGEMENT FOCUS Alcorn a profit-making concern that is either a proprietorship, a (1982) partnership, or a corporation.....If part of the stock is publicly owned, the family must also operate the business (p.230). Babicky [a] small business started by one or a few individuals who had (1987) an idea, worked hard to develop it, and achieved, usually with limited capital, growth while maintaining majority ownership of the enterprise (p.25) Barnes & [a business in which] controlling ownership is rested in the Hershon hands of an individual or of the members of a single family (1976) (p.106). Barry an enterprise which, in practice, is controlled by the members (1975) of a single family (pA2) Carsrud firm's ownership and policy making are dominated by I (1994) members of an "emotional kinship group" whether members of that group recognize the fact or not (pAO) Covin a business owned and operated by a family that employs (1994) several family members (p.288) Davis & a business in which two or more extended family members Tagiuri influence the direction of the business (quoted in Rothstein, (1985) 1992; p.398) Donckels & [a business in which] family members own at least 60 percent Frohlich of the equity (p.152) (1991)
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