Handbook of Research on Family Business
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Handbook of Research on Family Business

Edited by Panikklos Zata Poutziouris, Kosmas X. Smyrnios and Sabine B. Klein

The Handbook of Research on Family Business provides a comprehensive first port of call for those wishing to survey progress in the theory and practice of family business research. In response to the extensive growth of family business as a topic of academic inquiry, the principal objective of the Handbook is to provide an authoritative and scholarly overview of current thinking in this multidisciplinary field.
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Chapter 32: Family Ownership, Corporate Governance and Firm Value: Evidence from the Spanish Market

María Sacristán Navarro and Silvia Gómez Ansón


Epilogue: theory building and the survival of family firms – three promising research directions Shaker A. Zahra, Sabine B. Klein and Joseph H. Astrachan These are times of profound change around the globe. Family businesses, the most enduring and venerable organizational form, are under immense pressure to adapt in order to exploit emerging opportunities in their domestic and international markets. Without successful adaptation, these firms can lose their competitive standing and sources of competitive advantage, which could lead to their demise. Regrettably, family business owners looking at the voluminous literature for guidance are apt to be disappointed. Research on family firms is fragmented and non-cumulative, and lacks good theoretical grounding (Zahra and Sharma, 2004), suggesting a need for more creative theory building by capitalizing upon the unique qualities of family firms, especially their cultures and histories that determine family dynamics and decision-making. A ‘systems approach’ is clearly needed to build and test such a theory. Furthermore, the field has to develop a common language to ensure that communication is taking place between the disciplines involved such as organizational behavior, strategy and finance. In this chapter, we sketch out some ways that could expedite our progress in developing theory that guides futures research into family firms and helps their owners (managers) achieve superior performance. We believe that one theory, or meta-theory, cannot fully capture the richness and diversity of family firms, their cultures, systems and managerial styles. Instead, in-depth research of the different variables is needed before a theory of the family...

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