M.Phil. / Family Businesses are the most prevalent form of business throughout the world; they are highly pertinent in developing economies (Cavusgil, Kandemir & Kim, 2004). In South Africa it is estimated that 84 percent of all businesses in the formal sector are family-owned (Balshaw, 2004). Even though family businesses represent a dominant form of economic organisation, there is neglect in terms of research, particularly with respect to development of theories that have applied value (Chrisman, Chua & Steier, 2003). The key focus of this study is to provide research evidence for the verification of the predictive model Resulting Commitment Behaviours (hereafter referred to as RCBs) and the relationship(s) of the antecedent’s: Individual Characteristics, Familial Cultural Socialisation and Contextual Factors might have with an employed family member’s RCBs.

Representing four-fifths of businesses worldwide, family businesses are a prevailing form of business organizations. Their importance has brought on several studies concerning their development and behavior. Drawing on Gersick et al’s three-dimensional developmental model, this study examines the development of a Taiwanese family firm. Gersick et al’s three-dimensional developmental model develops a typology based on the dimensions of ownership, family and business. Through one-on-one in-depth interview of a Taiwanese textile manufacturer, this study finds that the founder’s character is an important factor that triggers challenges that family firms must face. With this unique factor, it is found that the family firm has employed an informal communication mechanism through close family members acting as third party liaisons to minimize communication conflict. Furthermore, through the application of quality management certifications, the firm has formalized organizational procedures and policies. Close affiliation with government aided institutions allows the firm to offer a comprehensive training program to attract and develop new talent. All these serve as future guidelines for family firms to overcome challenges in their developmental process.

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This research is about financing practices of Pakistani-immigrant and indigenous-owned small travel agents. The study provides an understanding of the capital structures of businesses owned by both groups and compares these to draw similarities and differences between both groups. The research integrates the 'ethnic enclave' immigrant theory, the capital structure theory in particular the Pecking Order Hypothesis, the role of 'networks' in business financing, and the business life-cycle theories. The research question and the research hypotheses emerged from the literature reviewed. Ten case studies, five Pakistani businesses and five indigenous businesses, confirmed the hypotheses which formed the basis of a survey of a large sample of sixty businesses, thirty in each group. The case study data is considered invaluable since it provided the real evidence of the sensitive nature of financial information in these businesses. The methodology adopted was a combination of qualitative and quantitative approaches. The findings of the study show that there are more similarities than differences among the capital structures of both groups of businesses. The nuclear family plays a crucial role throughout the life-cycle of the business in both groups. The role of family labour is not as prominent as among other industries such as Confectionery, Tobacconists, and Newsagents (CTN's). Informal sources of finance are preferred over formal sources by both groups of businesses due to their availability and lower cost. The Pecking Order Hypothesis theory applies to both groups of businesses. The main sources of formal finance were high street banks, bank overdrafts and loans. Pakistani businesses were not disadvantaged in any way by the formal providers of finance. This research is the first to report on the comparative capital structures among both groups of businesses. However, although considerable contribution has been made by this research to the small business finance literature further research should be conducted into the area.

Bakgrund: Familjeföretag är en dominerande företagsform i många ekonomier. Trots detta finns förhållandevis få studier på området. Familjeföretag innehar flertalet karaktärsdrag vilka utmärker dem som företagsform. Familjeföretagets karaktärsdrag kan tänkas påverka revisorn i familjeföretaget och göra att revisorn antar roller utöver den lagstadgade, professionella granskarrollen. En tidigare studie av Berg och Karlsson (2013) identifierade att revisorn har en medlande och förmedlande roll i familjeföretag. Vi ämnar utveckla denna studie genom att utifrån familjeföretagets karaktärsdrag förklara revisorns roller. Syfte: Syftet med vår studie är att förklara revisorns roller i familjeföretaget utifrån familjeföretagets karaktärsdrag. Metod: Genom att integrera litteratur rörande revisorn och familjeföretagets karaktärsdrag har en hypotetisk modell utformats över revisorns roller i familjeföretaget. En kvalitativ förstudie genomfördes för att utvärdera och utveckla denna hypotetiska modell. I förstudien intervjuades tre revisorer och två familjeföretagare. Därefter genomfördes även en kvantitativ studie för att testa vår hypotetiska modell. Två webbenkäter skickades ut till två olika rapportörer, en till revisorer och en till företagare vilka resulterade i 196 svar från revisorer vilka reviderar familjeföretag till mer än 20 % av sin arbetstid och 188 familjeföretagare. Resultat: Studiens resultat påvisar att familjeföretagets karaktärsdrag delvis kan förklara revisorns roller i familjeföretaget. Dessutom visar resultaten på att revisorn kan anta ytterligare roller i familjeföretaget. Utöver de roller vilka tidigare identifierats kan revisorn anta rollen som katalysator, stöttepelare samt informationskanal. Tidigare studier har främst påvisat roller knutna till familjen i familjeföretaget, vår studie identifierar istället revisorns roller knutna till familjeföretaget. / Background: Family business is a dominant type of enterprise in many economies. Yet, there are relatively few studies in the research area. Family holds several characteristics which distinguish them as a business enterprise. The characteristics of the family business can be assumed to influence the auditor in the family business and evovle additional roles, beyond the statutory, professional audit role. A previous study by Berg and Karlsson (2013) identified a mediating and intermediating role of the auditor in family businesses. We intend to develop this study, to explain the roles of the auditor derived from the family business’ characteristics. Purpose: The purpose of this study is to explain the roles of the auditor in the family business derived by the family business’ characteristics. Method: By integrating literature regarding the auditor and the characteristics of the family business a hypothetical model was designed showing the roles of the auditor in the family business. A qualitative pilot study was conducted to evaluate and develop the hypothetical model. In the pilot study three auditors were interviewed and two owners of family businesses. Thereafter, we carried out a quantitative study in order to test our hypothetical model. Two different online surveys were created and sent to two different reporters, either to auditors or to family business representatives. The online surveys resulted in 196 responses from auditors who spends more than 20 % of their working hours auditing family businesses and 188 responses from family businesses. Conclusions:  The result of the study indicates that the characteristics of the family business partially can explain the roles of the auditor in the family business. Furthermore, the results show that the auditor can adapt additional roles in the family business. In addition to the previously identified roles the auditor can act as a catalyst, assume a supportive role and act as a channel of information. Earlier studies have indicated roles mainly connected to the family, while our study indicates roles connected to aspects of the family firm.

Many previous studies find that family firms are prevalent among the U.S. firms. In particular, more than 35 percent of the S&P 500 firms consist of family firms in which families control about 18 percent of their firms’ shares. According to agency theory, the characteristics of a firm’s ownership, governance, and control play a critical role in the firm’s risk-taking activities and information flow to the market. Our study aims to investigate two controversies in the family business literature: whether family firms undertake fewer or more risks than non-family firms do, and whether family firms exhibit higher or lower information flow, reflected in their stock price informativeness and earnings informativeness, to the market. Using a sample of the S&P 500 companies as of 2003 for the period 2003-2007, we find that compared with non-family firms, the stock prices of family firms have more firm specific information impounded and the accounting earnings of family firms are more informative and thereby have more explanatory power for stock returns. These results are robust to different model specifications and variable proxies. In terms of risk-taking levels in corporate investment, our results indicate that family firms, on average, undertake fewer risks than non-family firms do. In particular, we find that although G-index is negatively associated with corporate risk-taking in non-family firms as previous studies (e.g. John et al., 2008) find for general firms, governance provisions do not have any influence on corporate risk-taking decisions in family firms. Numerous additional sensitivity tests using different corporate risk-taking proxies confirm the robustness of the findings.

Introduction: The Roles of women in family businesses and the challenges and opportuni- ties they face in relations to these roles in the family businesses will be explored in this re- search. Although women are accepted very important players, yet the roles of women are not frequently well-defined. The thesis will explore roles of women who play an important role in family firms and challenges and opportunities they have within the Family Business- es in Pakistan and Bangladesh. Purpose: The purpose of this research is to explore what roles women in family business in Bangladesh and Pakistan have, and challenges and the opportunities they face in relation to these roles. Method: A qualitative approach was used to accomplish the purpose of this thesis. E-mail interview questionnaires from the participants were filled to gather information regarding the roles they play in the family business and the challenges and opportunities they have in the family business. Conclusion: Gender and the succession issue have a central role to play in the women par- ticipation in the family business. These factors along with invisibility issue are viewed as main challenges faced by women in the family businesses. Some of the results lead us to conclude that women situation in both countries is not so bad rather they have good posi- tions in the family businesses. So it was not in conformity with the literature written on women invisibility.

This thesis analyzed the Drivers and Implementation Approaches of Corporate Social Responsibility (CSR) in Family Businesses. Qualitative Analysis based on Semi-Structured Interviews was conducted in the region of Southern Lower Saxony and later on quantified through category-based Content Analysis. The results suggest that Drivers of CSR can be divided into value-based and strategic, and Implementation Approaches into informal and formal. Family Businesses are more likely to be driven by values and implement an informal approach. Further, a model to define CSR, called Four-Peak Pyramid of Corporate Social Responsibility, was developed. It consists of two fundamental stones of CSR, Compliance and Profitability, and four peaks called Marketplace, Workplace, Community and Environment.

Prior research shows that family firms are generally less likely to diversify, but it remains unclear which mode of diversification in terms of internal versus external diversification family firms are more likely to choose once they decide to diversify. Similarly, it is unclear which type of diversification in terms of product versus international diversification family firms are more likely to focus on in comparison to nonfamily firms. Based on insights drawn from the goals, governance, and resources framework, this dissertation investigates the modes/types of diversification in family and nonfamily firms, as well as among various types of family firms. Specifically, I propose that family firms will prefer internal to external diversification to a larger extent than nonfamily firms. I further propose the strength of preference for internal to external diversification is likely to vary among different types of family firms manifested in the level of family ownership, family participation in the top management team and board, and generation of family members owning and controlling the family firm. Likewise, I theorize that family firms would prefer product to international diversification to a larger extent than nonfamily firms and that the strength of preference for product diversification is likely to vary among different types of family firms. A sample of 573 firms drawn from the S&P 1500 index was used toexamine the difference between family and nonfamily firms, and 136 family firms to test the heterogeneity hypotheses. No significant differences were found between family and nonfamily firms in their relative choice on internal over external diversification (Essay 1) and product over international diversification(Essay 2). Consistent with my prediction, I found family representation in the top management team has a significantly positive effect on a firm's tendency to engage in product rather than international diversification. However, in both Essay1 and Essay 2,I did not find significant effects of the other heterogeneous variables on a family firm's tendency to engage in one mode/type of diversification over the other. A rationale for these non-significant relationships is provided. Contributions and implications of this study are also discussed.

Family businesses are a critical part of the African economy, yet many fail within one generation and most within two generations. Moreover, women are generally not part of leadership succession in family businesses due largely to institutional logics that serve as impediments to women in business leadership. The intent of this dissertation is to fill a gap in the research literature and knowledge on the experiences of female successors in African family businesses by investigating the influence of institutional logics (cultural, ownership, management and family factors) on the leadership succession of women in African family business. A qualitative study consisting of semi-structured interviews was conducted with eight female leadership successors in African family business representing different industries. Participants were asked about their perceptions about being a woman in business, the nature of female succession in family-owned businesses, and impediments they perceive to the success of women in business. Ultimately, the findings uncovered various institutional, familial and individual impediments to women taking on leadership roles, such as institutional attitudes towards women, gender stereotypes, masculine attitudes of entrepreneurship, a lack of access to resources, and access to education and training amongst girls and women. Overall, this research contributes to theory and knowledge on how women’s succession in a family firm is affected by institutionalized African legal and sociocultural norms’ and the impact of management, ownership and family elements in family businesses. / Business Administration/International Business Administration