El objetivo de la presente investigación es analizar los principales factores internos que determinan la continuidad de las empresas familiares en Lima. La importancia de esta investigación radica en que estas representan el 80% de las empresas en el país, de los cuales el 20 % alcanza la segunda generación y sólo un 5% la tercera. En base al análisis de fuentes secundarias seleccionamos ocho factores que favorecen la continuidad de las empresas familiares: (i) visión, (ii) valores, (iii) educación, (iv) unidad familiar, (v) consejo de familia, (vi) protocolo familiar, (vii) directorio y (viii) planificación de la sucesión. El estudio se basó en el análisis cualitativo de alcance exploratorio, realizado a través de entrevistas a expertos de empresas familiares peruanas y a empresas familiares representadas por un socio o gerente. Las entrevistas se efectuaron con la finalidad de identificar los principales factores internos que las empresas familiares deben priorizar para lograr su continuidad. Del análisis de los resultados identificamos cuatro principales factores: (i) visión, (ii) valores, (iii) unidad familiar y (iv) planificación de la sucesión. De igual forma, del análisis de las respuestas de las empresas familiares entrevistadas se identificaron dos principales factores: (i) visión, (ii) valores y (iii) unidad familiar. Así pues, se concluye que tanto para los expertos como para las empresas familiares entrevistadas, los principales factores son la (i) visión, y (ii) valores y (iii) unidad familiar. / The objective of this research is to analyze the main internal factors that determine the family businesses’ continuity in Lima city. The importance of this research rests upon the fact that family businesses represent the 80% of Peruvian companies, of which only the 20% reach the second generation and a worrying 05% the third. Based on analysis of the literature, eight factors were identified as conditions for family businesses’ continuity: (i) mission and vision, (ii) values, (iii) education, (iv) family unit, (v) family council, (vi) family protocol, (vii) directory and (viii) succession planning. The study was based on a qualitative analysis of exploratory scope through interviews with experts from family businesses in Peru (among advisors and/or consultants), and family businesses represented by the partner or manager. The interviews were conducted with the purpose of identifying the main factors that family businesses must prioritize to achieve business continuity. From the analysis of the results we are allowed to state that the experts identified four main factors: (i) vision, (ii) values, (iii) family unit, and (iv) succession planning. On the other hand, for family businesses the following issues are important: (i) vision, (ii) values and (iii) family unit. So, it is concluded that for both the experts and the family businesses interviewed, the main common factors are (i) vision, (ii) values and (iii) family unit. / Tesis

Background Nowadays the amount of research regarding the family business context has improved meaningfully. However, the field of family business could still be considered immature and with existing gaps in its literature. Thereby, several studies in the family business context have discussed the topic of risk-taking, which establishes its crucial importance as a topic within in the field. Thus, risk-taking is a topic of the utmost importance for any given organization in terms of growth regardless if it is a family firm or non-family firm. However, in order to enact such levels of growth, the firms’ CEOs are required to engage in managerial risk-taking behaviors. Here, managerial risktaking is explained through the lens of the upper echelons theory which aids to understand the different perspectives (e.g., age, tenure, education and prior work experiences) CEOs utilize to take risk in their daily activities. Purpose Through the identified fundamental experiences affecting the managerial risk-taking behaviors of CEOs, the purpose of this thesis, through the lens of the upper-echelons theory, is to research how CEOs experiences influence their managerial risk-taking behaviors inside family businesses. Method This thesis followed a quantitative research approach, by analyzing a sample of 100 family firms and their CEOs across Scandinavia. Here, the data was collected via the public database “Amadeus” and complemented with supporting sources such as “LinkedIn” and companies’ websites. Lastly, multiple statistical tests were performed to further asses and explore the collected data. Findings The final results of this thesis were unable to determine to what degree the independent variables of CEOs’ experiences (age, tenure, education and prior work experiences) influence the dependent variable of managerial risk-taking behaviors. In our case, the controlling variables of firm size and CEOs being part of the board showed to have a significant effect on the managerial risk-taking behaviors of CEOs.

Digital technologies are disrupting firms of all sizes in all industries. This prompts firms to stipulate responses to the ongoing changes and challenges digitalization spawns. Especially family businesses, with their unique structural and behavioral characteristics and economic importance, in traditional industries must reinvent themselves and transform their business digitally to ensure longevity. Despite the recent increasing contributions of academia for the digital transformation phenomenon, attention for specific organizational forms, in particular family businesses is still scarce. A better understanding of how these organizations undergo a digital transformation is vital for family business adaptation and future survival. Therefore, this study emphasizes on the specific attribute of long-term orientation. Hence, the purpose of this study was to investigate family businesses’ long-term orientations impact their digital transformation process. For the intention to contribute to academia through theory building, we have chosen a qualitative, exploratory research design using a multiple case study of six selected family businesses. 14 semi-structured interviews with seven family managers and seven non-family managers were conducted to collect data. The results show that family businesses prepare a basis for their digital transformation through the influence of their long-term orientation. Building on our findings we developed a model of a digital foundation for family businesses endeavors in their digital transformation process to manage the three phases of digital transformation. This digital foundation as a capability affected by a family business long-term orientation impacts their digital transformation process in distinct ways.

Background: The advancement and spread of digitalization is reshaping the commercial landscape for firms, executing proper and adequate digital transformations have therefore become a necessity in order to thrive in the digital era. Existing literature has indicated that the unique and distinctive characteristics that family businesses possess may shape the way such firms handle various change efforts. However, research of how family firms handle digital transformations is heavily undeveloped, where the non-financial aspects’ influence on such transformations has yet to be assessed. Purpose: The purpose of this thesis is to investigate how non-financial aspects could influence a digital transformation process in family businesses. By fulfilling this purpose, additional insights can be contributed and enable a more thorough understanding of how non-financial aspects influence digital transformations in a family business. Method: This qualitative and exploratory thesis, guided by an inductive approach, has utilized a multiple case study containing four different cases in order to generate more insights and create a better understanding regarding the topic at hand. Eleven semi-structured interviews have been conducted and a thematic analysis has served as guidance when interpreting and analyzing the data. Conclusion: The results of the research reveal that four non-financial aspects were identified through the multiple case study. However, merely three of the four non-financial aspects identified were found to influence digital transformations in family businesses, encompassing both advantages and challenges which consequently affect a digital transformation. Additionally, the results show that one of the non-financial aspects solely had a positive influence on digital transformations, while the other two had both a positive and negative influence.

Abstract Background The succession process of a family firm is associated with a number of challenges, and hence a potential for conflicts is strongly pronounced. However, succession is of utmost importance for a family firm, as it is the only way to avoid a company closure in the long run. Previous literature has already extensively researched the phenomena of conflicts in family firms. However, there is a lack of research that looks from a multi-perspective lens into the context of succession and post-succession conflicts. Therefore, in the present research, we examine how family businesses experience and cope conflicts that appear after a successfully mastered intrafamily succession. Purpose This study aims to advance the understanding of conflicts in family firms related explicitly to the context of successions and post-successions. Hence, the thesis aims to determine how conflicts that appear in these contexts are experienced and how they are coped with. Method The study follows a qualitative methodological approach and an inductive analysis. The sample consists of three companies and 14 research respondents, and the data was collected with semi-structured qualitative interviews. Afterwards, the data was coded, and the emerging patterns and themes have been formulated and presented with a general model. Doing so, the focus was on patterns of succession- and post-succession-related conflicts and their coping strategies. Conclusion Our findings reveal that succession and post-succession-related conflicts are experienced as evoked intangible and provoked tangible conflicts and these conflicts are consciously as well as unconsciously coped with. Furthermore, our findings suggest that succession and post-succession family firm conflicts appear as conflict loops. Hence, the coping mechanisms identified and presented are helpful to solve a conflict, but the loop can hardly be escaped.

Bakgrund: Familjeföretag är en vanlig företagstyp både i Sverige och i världen och har vanligtvis bolagsformen aktiebolag. Definitionen av ett familjeföretag innebär att en majoritet av företaget ska ägas och kontrolleras av en familj som antingen grundat eller förvärvat företaget. Vidare ska även minst en familjemedlem vara verksam i företagsledningen. Familjeföretag ärvs vanligtvis inom familjen samtidigt som försäljning till utomstående också förekommer. I och med att andra ägare än grundarna driver företaget kan nya värderingar och preferenser ta plats i bolagsstyrningen än vad företaget grundades på. Problematiken är att få familjeföretag framgångsrikt drivs vidare efter ägarskiften. En möjlig orsak till det är förändrade representationer av värderingar och strategier, exempelvis kortsiktiga nyttor. Syfte: Rapporten syftar till att skapa en ökad förståelse för ägarnas främsta värderingar gällande sitt företagande och hur det har implementerats i bolagsstyrningen. Ägarna är valda från små och medelstora familjeföretag och har genomgått minst en form av ägarskifte. Rapporten fokuserar på de gemensamma dragen hos dessa ägare. Metod: Genom en kvalitativ metod har elva intervjuer med ägare och ledare i tio små och medelstora familjeföretag utförts. Sekundärdata har även samlats in genom företagens hemsidor och årsredovisningar. Gemensamma drag har sedan analyserats. Slutsats: Gemensamt bland studerade familjeföretagsägare värderas främst det långsiktiga ägandet och gärna genom deras barn. Vidare värderades det även att fortsätta vara en lokal aktör, öka lönsamheten och skapa tillväxt. Därför har långsiktiga investeringar gjorts och fokus har lagts på relationer till kunder, leverantörer och medarbetare. Flera ägare hade tillsatt externa individer som bland annat VD, styrelseordförande och styrelseledamöter i syfte att ta bättre beslut. / Background: Family business is a common type of business both in Sweden and worldwide and usually under the form of a limited company. The definition of a family business means that a majority of the business must be owned and controlled by a family that has either founded or acquired the business. Furthermore, at least one family member must also be active in the company's management. Family businesses are usually inherited within the family, while sales to outsiders also occur. As owners other than the founders run the company, new values and preferences can appear in corporate governance. The problem is that only a few family businesses are successfully run after the change of ownership. One possible reason for this problem is changed representations of values and strategies, such as short-term benefits. Aim: This report aims to create an increased understanding of the owners' main values regarding their business and how it has been implemented in corporate governance. The owners are selected from small and medium-sized family businesses, that have undergone at least one form of ownership change. The report focuses on the collective features of these owners. Method: Through a qualitative method, eleven interviews with owners and leaders in ten small and medium-sized family companies were conducted. Secondary data has was also collected through the companies' websites and annual reports. Collective features have then been analyzed. Conclusion: Collective values among studied family business owners are primarily long-term ownership and preferably through their children. Furthermore, it was also valued to continue to be a local player, increase profitability and create growth. Therefore, long-term investments have been made, and focus has been placed on relationships with customers, suppliers and employees. Several owners had appointed external individuals such as the CEO, Chairman of the Board and Board members to make better business-related decisions.

Family businesses are generally considered to be the most prevalent form of business around the world. They have also been shown to differ from their non-family counterparts due the non-economic factors that influence their decision-making. One of the most widely used conceptualization of these factors concerns the controlling family’s socioemotional endowment or in other words, the family’s socioemotional wealth. Newer approaches have proposed that socioemotional wealth can not only be broken down into several component dimensions, but that these dimensions may shift in prioritization in response to different contingencies. The sudden spread of the COVID-19 pandemic and the global crisis that has followed in its wake is one such contingency, impacting economies and family firms virtually everywhere in the world. Studying the crisis’ effects on family firms has thus already been outlined as a major focus of research going forward. This paper aims to develop the concept of socioemotional wealth as a dynamic construct and study the crisis’ effects on family firms. We conduct a content analysis of 20 Swedish and 20 German publicly listed family firms’ statements to shareholders published over a three-year period coinciding with the emergence of the crisis. Thus, this research presents an empirical look at how family firms in the contexts of two differing governmental responses to the crisis prioritized the different dimensions of their socioemotional wealth. The results show the families’ emotional attachment coming to the forefront in both cases, with no significant difference between the two countries’ family firms. Furthermore, we observe the families’ socioemotional ties to their employees retain their pre-crisis prevalence as the most prioritized dimension. This is accompanied by a deepening of the quality of the communication tied to this dimension of socioemotional wealth with it coming to reflect the emerging solidarity and cultural changes resulting from the crisis. The results suggest that family firms may respond to a crisis on the scale of the COVID-19 pandemic through their decision-making being increasingly influenced by their emotional attachment to the firm, while also retaining a focus on preserving strong social ties to their employees to persevere through the difficult period.

Background: Traditionally, family firms are thought of as centralized institutions where power is concentrated around a single leader, yet this construct is losing ground as increasing numbers of family firms employ or have considered employing multiple leaders at top level. However, implementing shared leadership in a family firm setting provides a myriad of benefits and challenges as the two very distinct mindsets of family and business intertwine. Overcoming the challenges of shared leadership holds a promise for a thriving organization, but little is known about the controlling mechanisms family firms use to overcome the challenges of shared leadership.   Purpose: The purpose of this study is to investigate the topic of shared leadership in family firms in order to gain a better understanding what kind of implications shared leadership has for the organization and how can the family firm overcome challenges associated with shared leadership.   Method: In this qualitative research we draw upon abductive single case study to explore a family firm with three brothers sharing the leadership at the top of the organization. Primary data was gathered through eight semi-structured and unstructured interviews and with the help of open, axial and selective coding we created a final model of the mechanisms that family firms use to overcome the challenges of shared leadership.   Findings: The empirical findings proclaim that the success of the co-leadership structure lies on three types of controlling and support mechanisms: internal integrating mechanisms, external support mechanisms and appropriate structures and processes. Together these mechanisms allow the family firms to reap the benefits of shared leadership while also providing grounds for a more decentralized organization

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Background: Family businesses contribute significantly to global economies but face unique challenges, notably in succession planning and generational transitions. These challenges are amplified due to the interplay of personal relationships, emotions, and family dynamics. Existing research offers quantitative insights into this field; however, the nuances of human experiences and perceptions in different cultural contexts remain underexplored. This study seeks to bridge this gap through qualitative exploration of family businesses' experiences and perceptions in Sweden and Canada, focusing on succession planning and generational transitions. The research aims to provide a more nuanced understanding, thus contributing to more effective, culturally sensitive, and practitioner-oriented strategies for managing intergenerational transfers. Purpose: This study delves into the complex process of succession in family businesses in Sweden and Canada. By emphasizing practitioners' lived experiences, it aims to identify prevalent patterns, contribute to the current literature, and potentially inform enhanced succession practices. Method: Applying an abductive research approach, the research combined hermeneutic and phenomenological methods, employing semi-structured interviews with nine family businesses six in Sweden and three in Canada as the primary data collection method. This approach allowed for a rich understanding of the phenomena. Conclusion: The research underscores the complexities of succession planning in family businesses, emphasizing the importance of open communication, trust, personal ties, and effective succession planning. Our findings diverge from a one-size-fits-all approach, revealing a multifaceted reality that requires a more adaptable, context-specific approach to succession planning. This research contributes to a deeper understanding of succession processes in family businesses, presenting valuable insights for future research, policy decisions, and practical business strategies.