Table of Contents

Firms within Families

Firms within Families

Enterprising in Diverse Country Contexts

Edited by Jennifer E. Jennings, Kimberly A. Eddleston, P. Devereaux Jennings and Ravi Sarathy

Firms within Families: Enterprising in Diverse Country Contexts investigates this ‘double embeddedness’ of business ownership and management through two illuminating sets of empirical studies. Part I focuses upon the family-oriented goal of socio-emotional wealth and its association with a firm’s strategic orientations, strategies and performance. Part II examines strategies and experiences at the work–family interface and their implications for an owner-manager’s psychological well-being. Both parts feature diverse studies from the United States, Switzerland/Germany, China, Brazil, and India.

Chapter 13: Part II summary: is entrepreneurship ‘good’ for families? It depends on the country

Kimberly A. Eddleston, Jennifer E. Jennings, P. Devereaux Jennings and Ravi Sarathy

Subjects: business and management, entrepreneurship, family business, strategic management

Extract

Around the globe, entrepreneurship is an important driver of economic growth. While the vast majority of entrepreneurship research has been performed in developed countries (Bruton, Ahlstrom, and Obloj, 2008; Felzensztein, Gimmon, and Aqueveque, 2013), studies on emerging markets highlight how pro-market reforms have recently spurred entrepreneurship and, in turn, how entrepreneurship has contributed to the growth of the middle class (Bruton et al., 2008; Manolova, Eunni, and Gyoshev, 2008; Peng, 2001). Although research has examined the economic benefits of entrepreneurship to developed and emerging markets, few studies have taken a cross-cultural approach to understand how entrepreneurship affects the entrepreneur. Yet, as a career, entrepreneurship is quite unique because it allows individuals to create businesses that reflect their personal preferences, interests and needs (Carter, Gartner, Shaver, and Gatewood, 2003; Eddleston and Powell, 2008). For example, researchers studying developed markets have acknowledged how many individuals turn to entrepreneurship in search of achieving greater work–family balance (Caputo and Dolinsky, 1998; De Martino and Barbato, 2003; Eddleston and Powell, 2012). They also recognize that managing the work–family interface is important to entrepreneurs’ career satisfaction and personal well-being (Jennings and McDougald, 2007; Powell and Eddleston, 2013).

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