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Leading up to the time just before the economic and global meltdown of 2008, economist and theorist forecasted as early as 2005 about and impending financial crisis that would affect every sector of the business and financial community. As we discover in more dramatic detail that family firms are occupying a big percentage in small to medium size enterprises, we wondered how they would be affected by such a high degree of uncertainty and volatility in the financial markets during the economic crisis. With these factors in mind, we would like to see it in a more day–to–day, practical application within family firms. In the supply chain or procurement life-cycle, firms need to receive products and services from the supplier and the supplier will in turn offer those same services to the customer. The firm will tend to structure this tradeoff with a contractual structure to guarantee achievement of mutual benefit and economic objectives of the firm. On the other hand, family firms are famous for being distinguish from non-family firms in their non-economic objective they persuade along their businesses. Considering these two different logics that affects the decision of the firm in structuring contractual governance with the exchanging party. We ask the following questions in our purpose.

The success of the local development experiences after the 1980s is associated with the non-economic components as well as the economic ones in the contemporary development literature. Most apparently, the literature seems to be intensified on the local institutions and on the local social interaction which creates reciprocal cooperative trust relations. These socially constructed local institutions refer to the local rules, routines and patterns having been directly influencing the relation among the local actors of development. They are also seen to be the organizational actors of development being responsible for the social inheritance of traditional and even tacit local knowledge and facilitating the adaptation of other local actors to the changing supra local networks. In many cases, however, the age groups dominating these successful development experiences have come to the edge of or already exceeded the age limits of active workforce cohorts currently. The coming decade, therefore, indicates a succession period from these generations leading to the emergence of successful development experiences to their successors. This period is identified in this study as the generational transition. This concept represents a newly emerging field of contradiction and this study analyses and conceptualizes the influences of generational transition on the local pathways of development both in terms of the tensions between diverse generations, and in context of tensions between the institutions and successor generations and among the institutions being socially constructed by diverse generations. These tensions are analyzed in this study through the Kayseri experience which has created a successful local development practice after the 1980s by focusing the generational transformation of both the local development path and the socio-spatial patterns of the town. This analysis indicates three vitally important outcomes of generational transition. Firstly, the local socio-spatial institutions have a crucial importance in the social inheritance of the traditional local knowledge and they have been transformed by the influences of generational transition. Secondly, it is found that the economic organizations have been transformed generationally in tune with the generational transition. And finally it is found that the generational transition has directly been influencing the local development path by destroying or changing some institutions and by creating some new ones.

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Family firms play a significant role in the U.S. economy, making up about 35 percent of S&P 500 or Fortune 500 companies and contributing about 65 percent to the U.S. GDP. This research explores differences in strategic behavior and firm performance between family firms and non-family firms, and further explores whether family firms such as Dell Inc. that use their founding family’s name as part of their firm name (termed family-named firms, or FN firms) behave and perform any differently versus family firms such as Gap Inc. whose firm name does not include their family’s name (termed non-family-named firms, or NFN firms). The first study which is based on a multi-industry sample of 130 publicly listed U.S. family firms over a five-year period (2002–2006), reveals that compared to NFN firms, FN firms have significantly higher levels of corporate citizenship and representation of their customers' voice (i.e., presence of a chief marketing officer) in the top management team. FN firms also have a higher strategic emphasis (i.e., a greater emphasis on value appropriation relative to value creation) compared to NFN firms. Furthermore, FN firms perform better (i.e., have a higher ROA) than NFN firms, and their superior performance is partially mediated by their higher corporate citizenship levels and strategic emphasis. In the second study — an event study of 1294 product introduction announcements of 107 publicly listed U.S. family firms from 2005-2007 — I find that relative to NFN firms, FN firms are rewarded more by the stock market for introducing new products. Superior returns to FN firms’ new product introductions are partially mediated by these firms’ history of trustworthy product-related behavior: FN firms, particularly those with corporate branding, and those wherein a founding family member holds the CEO or Chairman position, are more likely to exhibit a history of avoiding such product-related controversies as product safety issues, and deceptive advertising. The third study explores differences in strategic behavior and firm performance between family firms and non-family firms in the context of 7 U.S. economic recessions between the years 1970 and 2008. Findings based on a sample of 428 U.S. publicly listed firms reveal that family firms consistently outperform non-family firms during economic recessions. This superior performance is partially driven by family firms’ unique strategic behavior: during recessions, family firms maintain higher levels of advertising intensity, exhibit lower financial leverage, and get involved in fewer social and employee-related unethical actions than non-family firms. The three studies taken together have important implications for family firm, branding, CSR, firm valuation, and innovation-related theory and practice. I highlight these implications in my dissertation. / text

This thesis is a study of firm dynamics, family ownership, and employment protection. It addresses the implications of employment protection on firm productivity and how family owned firms react differently with regard to economic shocks. It also investigates whether family ownership matters for the probability of exhibiting high growth. By using a novel data identification strategy, family ownership is identified in full population register data. The thesis also highlights some important caveats in the official statistics on self-employment. / Denna avhandling behandlar företagsdynamik, familjeägande och anställningsskydd. I avhandlingen analyseras anställningsskyddet och hur det påverkar företagens produktivitet, samt hur familjeägda företag reagerar på chocker inom industrin. I avhandlingen analyseras också hur familjeägande påverkar sannolikheten för ett företag att uppnå en hög tillväxttakt. Genom att kombinera olika statistikkällor kan samtliga familjeföretag i den den svenska företagspopulationen identifieras. Avhandlingen belyser också några av de problem som finns i den officiella statistiken över egenföretagare.

Bakgrund Små familjeägda aktiebolags styrelsesammansättning brukar kännetecknas av en överlappning mellan familjen och företaget. Små företag har ofta inte råd med det antal kompetenta styrelseledamöter som de har behov av och kan därmed gå miste om viktig information, kompetens och erfarenheter som en extern styrelseledamot kan bidra med. Vidare har tidigare forskning visat att externa styrelseledamöter kan tillföra ett främmande inslag i familjeföretaget vilket kan ge en känsla som innebär förlust av kontroll. Slutligen kan det anses finnas brister i tidigare forskning då små företag har undersökts i mindre utsträckning. Forskningsfrågor Vad är det som avgör varför små familjeföretag väljer att tillsätta externa styrelseledamöter eller inte? Syfte Syftet är att genom kvalitativa intervjuer förklara små familjeföretags tillsättande av externa styrelseledamöter. Metod Studien har byggts på en kvalitativ metod med semistrukturerade intervjuer som genomförts med tio VD:ar i tio små svenska familjeägda aktiebolag. Teoretisk referensrams Den teoretiska referensramen bygger på en trecirkelmodell som beskriver familjeföretags överlappande system. Avslutningsvis ges en överblick av styrelser samt beskrivs agentteorin och stewardshipsteorins förhållande till externa styrelseledamöter. Empiri De tio genomförda intervjuernas resultat presenteras under fyra teman och tabeller. Analys Analyskapitlet har genomförts med stöd av den teoretiska referensramens olika delar. Slutsats 0Vår slutsats är att den viktigaste egenskapen hos en extern styrelseledamot är dess kompetens och erfarenhet. En annan viktig faktor som avgör valet är för att få en s.k. input, en extern syn på verksamheten och någon att bolla idéer med. I och med tillsättandet har många av företagens styrelsearbeten övergått från passivt till aktivt styrelsearbete och de intervjuade företagarna ser endast positivt på tillsättandet. / Background Small family-owned limited liability company board composition is usually characterized by an overlap between the family and the company. Small businesses often can’t afford the number of qualified board members that they have in need and can thus miss important information, expertise and experience as an external board member can contribute. Furthermore, previous research has shown that outside directors can bring a foreign element in the family business which can give a sense involving loss of control. Finally, it is considered to be flaws in previous research when small companies have been investigated to a lesser extent. Research questions What is it that determines why small family businesses choose to appoint outside directors, or not? Purpose The purpose is that through qualitative interviews explain small family companies appointment of external board members. Method The study has been built on a qualitative approach with semistructured interviews conducted with ten CEOs of ten small, familyowned companies. Theory The theoretical framework is based on a threecircelmodel that describs the overlapping systems in family business. Finally it is an overwiev of boards and a explanation about the agency theory's and stewardship theory’s relation to the external board members. Empiricism The ten completed interview results are presented under four themes and tables. Analysis The analysis chapter has been implemented with the support of the theoretical framework different parts Conclusion Our conclusion is that the main feature of an external director is its expertise and experience. Another important factor that determines the choice is to get a so-called input, an external view of the business and someone to bounce ideas with. After the appointment many boards have worked in shift from passive to active and the interviwed businessowners only look positive on the appointment.

Diss. Linköping : Univ., 2002.

Background:           Absorptive capacity concept has its roots dated back around 30 years ago when two seminal papers were published. During the years, more knowledge has been produced about this topic. However, most of the studies have focused on the absorptive capacity from a general point of view without correlating it with the R&D activities of family firms and family involvement.       Purpose:                  This study investigates how one of the distinctive characteristics of family firms (i.e. family involvement) plays a role along with R&D activities carried out either in-house or from external sources, in filing for a patent.   Method:                   To conduct our study we adopted a quantitative approach and used secondary data about 14759 firms located in EU.  Considering the type of selected variables, for our analysis we used logistic regression in order to see if the model we proposed was meaningful or not.   Conclusion:             The findings from our study address the research questions we formulated at the beginning. As for the R&D we conclude that family firms take more advantage from carrying out in-house R&D activities rather than R&D from external sources, matching with what claimed in the existing literature. Furthermore, our study matches with recent studies that challenge the traditional view of family involvement negatively related to innovation.

Familjeföretag är en av de vanligaste företagsformerna i världen. Även i Sverige är en majoritet av företagen familjestyrda företag. Den konkurrensutsatta omgivning som skapats under det senaste årtiondet gör det viktigt för företag att utveckla ett entreprenöriellt förhållningssätt. Det entreprenöriella förhållningssättet låter företagen nyttiggöra sina resurser och utforska möjligheter i deras omgivning. Entreprenöriell orientering är ett företags förmåga att utveckla företagets strategiska förhållande till risktagande, proaktivitet och innovationsförmåga. Familjestyrda företag har vissa gemensamma drag. Familjestyrda företag har en unik sammansättning av resurser och förmågor, där de familjestyrda företagens speciella karaktärsdrag i sin tur påverkar de olika delarna i företagets entreprenöriella orientering. Syftet med denna studie är att förklara om familjestyrande i svenska små och medelstora aktiebolag påverkar företagets entreprenöriella orientering. Tidigare studier visar på motsättningar om familjestyrda företag är entreprenöriella eller konservativa, traditionella och riskaverta.