While progress has been made in recent years to understand the differences among family
firms, insights remain fragmented due, in part, to an incomplete understanding of …

We use a social exchange perspective to review family firm succession literature owing to its
fit with the multiphase, multistakeholder nature of the process. We searched the history of 34 …

This article makes the case for the socioemotional wealth (SEW) approach as the potential
dominant paradigm in the family business field. The authors argue that SEW is the most …

Agency and stewardship theories are prominent perspectives to examine myriad issues
within family firms. Although considered opposing theories, both address the same …

The study of the roles, impact, and challenges associated with nonfamily members in family
firms has generated considerable attention in the literature. To gain an appreciation of this …

Distinguishing sufficient conditions from necessary conditions is crucial in both theoretical
and empirical studies. We propose that the sufficiency condition for family involvement to …

Family firms are thought to pursue nonfinancial goals that provide socioemotional wealth,
but socioemotional wealth is feasible only with family control of the firm. Using prospect …

Internationalization is an important entrepreneurial strategy for promoting the long-term
growth and survivability of small and medium-sized enterprises (SMEs). Family involvement …

This study systematizes and classifies the state-of-the-art of knowledge about innovation
and succession in family businesses. Our systematic literature review details the existing …

A long–term orientation (LTO) is often associated with family firms, but the LTO construct is
underdeveloped. This paper sets forth a framework for studying LTO in family firms including …