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Edited by Panikklos Zata Poutziouris, Kosmas X. Smyrnios and Sabine B. Klein
Chapter 8: Internal Factors of Family Business Performance: An Integrated Theoretical Model
8 Internal factors of family business performance: an integrated theoretical model* Alberto Gimeno Sandig, Gaston J. Labadie, Willem Saris and Xavier Mendoza Mayordomo Introduction This chapter puts forward a theoretical model that identiﬁes the internal factors explaining family business performance. Studies of family companies have mainly compared the performance of these ﬁrms with the performance of non-family companies. In our view, the results of such studies are contradictory given the enormous variety of both family and non-family companies, and the partial scope of the models and tests performed. Hence, there is a need for an integrated model that systematically considers the internal factors that inﬂuence the performance of family businesses and that is not based on ﬂawed comparisons with other kinds of ﬁrms. This work presents such a model, examining theories and evidence on how the family condition and its dimensions inﬂuence performance. We deﬁne family ﬁrms as those in which one or several families exercise inﬂuence, identiﬁed in the literature by the term familiness (Habbershon and Williams, 1999). We propose an approach to family companies based upon two dimensions: the family and the company. Such an approach is similar to the one suggested in early family business literature (Davis and Stern, 1980; Lansberg, 1983; Rosenblatt et al., 1985; Vilanova, 1985). We model the contingency and structural factors that have an impact on family and business management (the factors chosen being based upon the literature review). In so doing, we introduce the relationships among...
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