Professionalization in the family business: evolution and lines of research
PDF (Español (España))
XML (Español (España))

Keywords

family business
professionalization
bibliometric study
continuity of the family business
business studies
entrepreneurs
economy
administration
Mexico empresa familiar
profesionalización
estudio bibliométrico
continuidad de la empresa familiar
estudios empresariales
emprendedores
economía
administración
México

How to Cite

Marcelino-Aranda, M., Torres-Ramírez, A., Muñoz Marcelino, D., & D. Camacho, A. (2020). Professionalization in the family business: evolution and lines of research. Nova Scientia, 12(25). https://doi.org/10.21640/ns.v12i25.2508

Abstract

Introduction: Family businesses (FB) contribute significantly to the economy and society in many countries. The study of FB professionalization is relevant since it allows them to achieve efficient management within the organization and obtain higher profits. This research aims to describe and analyse the quantitative evolution of the scientific production of professionalization in the FB from 1980 to 2019, which allows documenting key bibliometric parameters to analyse the subject's main characteristics and profile future research lines.

Method: The articles retrieved from the Web of Science portal, from Clarivate Analytics, provided the primary data to conduct a bibliometric method and content analysis.

Results: The search produced 112 articles, with production peaks in 2013 and 2018. Networks of co-occurrence, citation, and co-authorship are analysed. Family Business Review has the largest publication of articles; however, the Journal of Finance and Quarterly Journal of Economics have a higher impact factor. Anderson and Reeb are the most cited authors. The United States leads in scientific production, Latin American participation, and specifically, Mexico is almost nil.

Discussion and Conclusion: The study of professionalization began as an implicit and supporting factor for the family business's growth. Publications on the subject increased in the last nine years; it has an impact on the profit-making, it is also at the basis of the succession and institutionalization of the organization and plays a role in the continuity of the company and family harmony. Most research focuses on comparing the financial results between a family CEO or an external CEO. However, there is a need to study how to carry out the planning, execution, and evaluation of professionalization. Differences in management for large family businesses, micro-enterprises, little ventures, and their cultural components are broad topics requiring more research. At the international level, the person's profile to efficiently manage the EF is still under discussion, opening the opportunity to investigate these issues in the Mexican context.

https://doi.org/10.21640/ns.v12i25.2508
PDF (Español (España))
XML (Español (España))

References

Alonso, M., & Galve, C. (2008). El emprendedor y la empresa: una revisión teórica a los determinantes a su constitución. Acciones e Investigaciones Sociales, 26, 5-44.

Anderson, R. C., & Reeb, D. M. (2003). Founding-family ownership and firm performance: Evidence from the S&P 500. Journal of Finance, 58(3), 1301-1328. DOI: https://doi.org/10.1111/1540-6261.00567

Araújo, J. A. & Arencibia, J. R. (2002). Informetría, bibliometría y cienciometría: aspectos teórico-prácticos. ACIMED, 10(4), 5-6. En: http://scielo.sld.cu/scielo.php?script=sci_arttext&pid=S1024-94352002000400004&lng=es&tlng=pt.

Arijs, D., Botero, I. C., Michiels, A., & Molly, V. (2018). Family business employer brand: Understanding applicants' perceptions and their job pursuit intentions with samples from the US and Belgium. Journal of Family Business Strategy, 9(3), 180-191. DOI: https://doi.org/10.1016/j.jfbs.2018.08.005

Benavides-Velasco, C. A., Quintana-García, C., & Guzmán-Parra, V. F. (2013). Trends in family business research. Small business economics, 40(1), 41-57. DOI: https://doi.org/10.1007/s11187-011-9362-3

Bennedsen, M., Nielsen, K. M., Pérez-González, F., & Wolfenzon, D. (2007). Inside the family firm: The role of families in succession decisions and performance. Quarterly Journal of Economics, 122(2), 647-691. DOI: https://doi.org/10.1162/qjec.122.2.647

Berrone, P., Cruz, C., & Gomez-Mejia, L. R. (2012). Socioemotional wealth in family firms: Theoretical dimensions, assessment approaches, and agenda for future research. Family Business Review, 25(3), 258-279. DOI: https://doi.org/10.1177/0894486511435355

Block, J. H. (2011). How to pay nonfamily managers in large family firms: A principal—agent model. Family Business Review, 24(1), 9-27. DOI: https://doi.org/10.1177/0894486510394359

Blumentritt, T. P., Keyt, A. D., & Astrachan, J. H. (2007). Creating an environment for successful nonfamily CEOs: An exploratory study of good principals. Family Business Review, 20(4), 321-335. DOI: https://doi.org/10.1111/j.1741-6248.2007.00102.x

Brumana, M., Cassia, L., De Massis, A., Cruz, A. D., & Minola, T. (2015). Transgenerational professionalization of family firms: The role of next generation leaders. In P. Sharma, N. Auletta, R. L. DeWitt, M. J. Parada, and M. Yusof. (Eds.). Developing next generation leaders for transgenerational entrepreneurial family enterprises, Edward Elgar Publishing.

Burkart, M., Panunzi, F., & Shleifer, A. (2003). Family firms. Journal of Finance, 58(5), 2167-2201. DOI: https://doi.org/10.1111/1540-6261.00601

Carvalho, M.M., Lopes, A.P., & Fleury, A. (2013). An overview of the literature on technology roadmapping (TRM): contributions and trends. Technological Forecasting & Social Change, 80, 1418-1437. DOI: https://doi.org/10.1016/j.techfore.2012.11.008

Cavus, M.F., & Demir, Y. (2011). Institutionalization and corporate entrepreneurship in family firms. African Journal of Business Management, 5(2), 416-422.

Chang, S. J., & Shim, J. (2015). When does transitioning from family to professional management improve firm performance? Strategic Management Journal, 36(9), 1297-1316. DOI: https://doi.org/10.1002/smj.2289

Chittoor, R., & Das, R. (2007). Professionalization of management and succession performance - A vital linkage. Family Business Review, 20(1), 65-79. DOI: https://doi.org/10.1111/j.1741-6248.2007.00084.x

Chrisman, J. J., Memili, E., & Misra, K. (2014). Nonfamily Managers, Family Firms, and the Winner's Curse: The Influence of Noneconomic Goals and Bounded Rationality. Entrepreneurship Theory and Practice, 38(5), 1103-1127. DOI: https://doi.org/10.1111/etap.12014

Cucculelli, M., Peruzzi, V., & Zazzaro, A. (2019). Relational capital in lending relationships: evidence from European family firms. Small Business Economics, 52(1), 277-301. DOI: https://doi.org/10.1007/s11187-018-0019-3

Davis, J. A., Hampton, M. M., & Lansberg, I. (1997). Generation to generation: Life cycles of the family business. Harvard Business Press.

Dawson, A. (2011). Private equity investment decisions in family firms: The role of human resources and agency costs. Journal of Business Venturing, 26(2), 189-199. DOI: https://doi.org/10.1016/j.jbusvent.2009.05.004

Dekker, J., Lybaert, N., Steijvers, T., & Depaire, B. (2015). The Effect of Family Business Professionalization as a Multidimensional Construct on Firm Performance. Journal of Small Business Management, 53(2), 516-538. DOI: https://doi.org/10.1111/jsbm.12082

Dekker, J. C., Lybaert, N., Steijvers, T., Depaire, B., & Mercken, R. (2013). Family Firm Types Based on the Professionalization Construct: Exploratory Research. Family Business Review, 26(1), 81-99. DOI: https://doi.org/10.1177/0894486512445614

Dekker, J.C. (2010). Developing a new typology of family firms based on professionalization and formalization. Back to the Future, 10, 1-40.

Donckels, R., & Fröhlich, E. (1991). Are family businesses really different? European experiences from STRATOS. Family business review, 4(2), 149-160. DOI: https://doi.org/10.1111/j.1741-6248.1991.00149.x

Dyer, W.G. (1988). Culture and continuity in family firms. Family Business Review, 1(1), 37-50. DOI: https://doi.org/10.1111/j.1741-6248.1988.00037.x

Eddleston, K. A., Sarathy, R., & Banalieva, E. R. (2019). When a high-quality niche strategy is not enough to spur family-firm internationalization: The role of external and internal contexts. Journal of International Business Studies, 50(5), 783-808. DOI: https://doi.org/10.1057/s41267-018-0199-8

Ussman, A., Jiménez, J. J., & García P.M. (2001). Una reflexión sobre el proceso de dirección estratégica de la empresa familiar: propuesta de un modelo. Actas del I Congreso nacional de Investigación sobre la Empresa Familiar, OPVI, Valencia, pp.347-372.

Gimeno, A., Labadie, G., & Sauris, W. (2004). The effects of management and corporate governance on performance in family business: A model and test in Spanish firms. Family Firms in the Wind of Change (15th World Conference in Copenhagen FBN. Family Bus. Network, pp. 147-171.

Giovannoni, E., Maraghini, M. P., & Riccaboni, A. (2011). Transmitting Knowledge Across Generations: The Role of Management Accounting Practices. Family Business Review, 24(2), 126-150. DOI: https://doi.org/10.1177/0894486511406722

Gomes, L. A. D., Facin, A. L. F., Salerno, M. S., & Ikenami, R. K. (2018). Unpacking the innovation ecosystem construct: Evolution, gaps and trends. Technological Forecasting and Social Change, 136, 30-48. DOI: https://doi.org/ 10.1016/j.techfore.2016.11.009

Gómez-Mejia, L. R., Neacsu, I., & Martin, G. (2019). CEO Risk-Taking and Socioemotional Wealth: The Behavioral Agency Model, Family Control, and CEO Option Wealth. Journal of Management, 45(4), 1713-1738. DOI: https://doi.org/10.1177/0149206317723711

Gómez-Mejía, L. R., Núñez-Níquel, M., & Gutiérrez, I. (2001). The Role of Family Ties in Agency Contracts. Academy of Management Journal, 44, 81–95. DOI: https://doi.org/ 10.2307/3069338

Gudmunson, C. G., & Danes, S. M. (2013). Family social capital in family businesses: A stocks and flows investigation. Family Relations, 62(3), 399-414. DOI: https://doi.org/10.1111/fare.12017

Hall, A., & Nordqvist, M. (2008). Professional management in family businesses: Toward an extended understanding. Family Business Review, 21(1), 51-69. DOI: https://doi.org/10.1111/j.1741-6248.2007.00109.x

Horcickova, Z., & Stasiulis, N. (2019). Philosophy of Economics and Management: Youth Participation in Family Business and National Economy. Filosofija-Sociologija, 30(1), 17-26. DOI: https://doi.org/10.6001/fil-soc.v30i1.3912

Howorth, C., Wright, M., Westhead, P., & Allcock, D. (2016). Company metamorphosis: professionalization waves, family firms and management buyouts. Small Business Economics, 47(3), 803-817. DOI: https://doi.org/10.1007/s11187-016-9761-6

Hu, Q. J., Zhang, Y. L., & Yao, J. J. (2018). Family Involvement in Middle Management and Its Impact on the Labor Productivity of Family Firms. Management and Organization Review, 14(2), 249-274. DOI: https://doi.org/10.1017/mor.2018.5

Hung, S. C., & Whittington, R. (2011). Agency in national innovation systems: Institutional entrepreneurship and the professionalization of Taiwanese IT. Research Policy, 40(4), 526-538. DOI: https://doi.org/10.1016/j.respol.2011.01.008

Jauregui Machuca, K., & Bejarano Heredia, A. (2009). Support for Career Development in "Dual Career Families". Revista Venezolana De Gerencia, 14(48), 507-517.

Jones, C. D., Makri, M., & Gómez-Mejía, L. R. (2008). Affiliate Directors and Perceived Risk Bearing in Publicly Traded, Family-Controlled Firms: The Case of Diversification. Entrepreneurship Theory and Practice, 32(6), 1007-1026. DOI: https://doi.org/10.1111/j.1540-6520.2008.00269.x

Kelleci, R., Lambrechts, F., Voordeckers, W., & Huybrechts, J. (2019). CEO Personality: A Different Perspective on the Nonfamily Versus Family CEO Debate. Family Business Review, 32(1), 31-57. DOI: https://doi.org/10.1177/0894486518811222

Lissoni, J., Pereira, M. F., Almeida, M. I. R., & Serra, F. R. (2010). Family Business: how family and ownership shapes business professionalization. Revista Brasileira De Gestao De Negocios, 12(37), 464-479. DOI: https://doi.org/10.7819/rbgn.v12i37.637

Lodi, J.B. (1998). A Empresa Familiar. Sao Paulo: Pioneira.

Matzek, A. E., Gudmunson, C. G., & Danes, S. M. (2010). Spousal capital as a resource for couples starting a business. Family Relations, 59(1), 60-73. DOI: https://doi.org/10.1111/j.1741-3729.2009.00586.x

Mehrotra, V., Morck, R., Shim, J., & Wiwattanakantang, Y. (2013). Adoptive expectations: Rising sons in Japanese family firms. Journal of Financial Economics, 108(3), 840-854. DOI: https://doi.org/10.1016/j.jfineco.2013.01.011

Michiels, A. (2017). Formal compensation practices in family SMEs. Journal of Small Business and Enterprise Development, 24(1), 88-104. DOI: https://doi.org/10.1108/jsbed-12-2015-0173

Miller, D., Le Breton‐Miller, I., Minichilli, A., Corbetta, G., & Pittino, D. (2014). When do Non‐Family CEO s Outperform in Family Firms? Agency and Behavioural Agency Perspectives. Journal of Management Studies, 51(4), 547-572. DOI: https://doi.org/10.1111/joms.12076

Miller, D., Minichilli, A., & Corbetta, G. (2013). Is family leadership always beneficial? Strategic Management Journal, 34(5), 553-571. DOI: https://doi.org/10.1002/smj.2024

Mullins, F. (2018). A Piece of the Pie? The Effects of Familial Control Enhancements on the Use of Broad-Based Employee Ownership Programs in Family Firms. Human Resource Management, 57(5), 979-992. DOI: https://doi.org/10.1002/hrm.21828

Nam, Y., Kim, T. J., & Choi, W. (2019). The moderating effect of international trade on outside director system in Korean firms. Journal of Korea Trade, 23(1), 19-34. DOI: https://doi.org/10.1108/jkt-05-2018-0038

Piszczek, M. M., DeArmond, S., & Feinauer, D. (2018). Employee work-to-family role boundary management in the family business. Community, Work & Family, 21(2), 111-132. DOI: https://doi.org/10.1080/13668803.2017.1366297

Salas, J. M. (2004). La continuidad de la empresa familiar. Barcelona: Gestión 2000.

Salvato, C., & Corbetta, G. (2013). Transitional Leadership of Advisors as a Facilitator of Successors' Leadership Construction. Family Business Review, 26(3), 235-255. DOI: https://doi.org/10.1177/0894486513490796

Salvato, C., Minichilli, A., & Piccarreta, R. (2012). Faster Route to the CEO Suite: Nepotism or Managerial Proficiency? Family Business Review, 25(2), 206-224. DOI: https://doi.org/10.1177/0894486511427559

Schein, E.H. (1968). Organizational socialization and the profession of management. Industrial Management Review, 9, 80-88.

Sharma, P., Chrisman, J. J., & Chua, J. H. (1997). Strategic management of the family business: Past research and future challenges. Family business review, 10(1), 1-35. DOI: https://doi.org/10.1111/j.1741-6248.1997.00001.x

Short, J. C., Payne, G. T., Brigham, K. H., Lumpkin, G. T., & Broberg, J. C. (2009). Family Firms and Entrepreneurial Orientation in Publicly Traded Firms A Comparative Analysis of the S&P 500. Family Business Review, 22(1), 9-24. DOI: https://doi.org/10.1177/0894486508327823

Schulze, W. S., & Kellermanns, F. W. (2015). Reifying Socioemotional Wealth. Entrepreneurship Theory and Practice, 39(3), 447-459. DOI: https://doi.org/ 10.1111/etap.12159

Songini, L. (2006). The professionalization of family firms: theory and practice. In P. Poutziouris, K. Smyrnios, and S. Klein. (Eds.). Handbook of Research on Family Business, Edward Elgar Publishing.

Stewart, A., & Hitt, M. A. (2012). Why Can't a Family Business Be More Like a Nonfamily Business? Modes of Professionalization in Family Firms. Family Business Review, 25(1), 58-86. DOI: https://doi.org/10.1177/0894486511421665

Tagiuri, R. y Davis, J. (1982). Atributos ambivalentes de la empresa familiar. Family Business Review, 11(1), 11-16.

van Eck, N. J., & Waltman, L. (2010). Software survey: VOSviewer, a computer program for bibliometric mapping. Scientometrics, 84(2), 523-538. DOI: https://doi.org/10.1007/s11192-009-0146-3

Waltman, L. (2016). A review of the literature on citation impact indicators. Journal of informetrics, 10(2), 365-391. DOI: https://doi.org/10.1016/j.joi.2016.02.007

Watkins-Fassler, K., Briano-Turrent, G. D., & Rodríguez-Ariza, L. (2019). Performance and abilities of family-member CEOS in a context of formal institutional weakness. Trimestre Económico, 86(341), 179 – 219. DOI: https://doi.org/ 10.20430/ete.v86i341.657

Wijaya, Y. (2008). The prospect of familism in the global era: A study on the recent development of the ethnic-chinese business, with particular attention to the indonesian context. Journal of Business Ethics, 79(3), 311-317. DOI: https://doi.org/10.1007/s10551-007-9399-z

Wu, B. H. T., & Mazur, M. (2018). Managerial Incentives and Investment Policy in Family Firms: Evidence from a Structural Analysis. Journal of Small Business Management, 56(4), 618-657. DOI: https://doi.org/10.1111/jsbm.12308

Xi, J. M., Kraus, S., Filser, M., & Kellermanns, F. W. (2015). Mapping the field of family business research: past trends and future directions. International Entrepreneurship and Management Journal, 11(1), 113-132. DOI: https://doi.org/10.1007/s11365-013-0286-z

Xu, D. A., Chen, C., & Wu, X. H. (2019). Ownership structure and the use of non-family executives in family-dominated Chinese listed firms: An institutional logics perspective. Asia Pacific Journal of Management, 36(3), 797-820. DOI: https://doi.org/10.1007/s10490-017-9550-z

Yildirim-Oktem, O., & Usdiken, B. (2010). Contingencies versus External Pressure: Professionalization in Boards of Firms Affiliated to Family Business Groups in Late-Industrializing Countries. British Journal of Management, 21(1), 115-130. DOI: https://doi.org/10.1111/j.1467-8551.2009.00663.x

Zhang, J. C., & Wei, L. Q. (2015). From Family Business Management to Professional Management in a Time-Honored Brand: The Case of Fu Yuan Guan. Frontiers of Business Research in China, 9(1), 91-109. DOI: https://doi.org/10.3868/s070-004-015-0005-6

Zhang, J. J., & Ma, H. (2009). Adoption of professional management in Chinese family business: A multilevel analysis of impetuses and impediments. Asia Pacific Journal of Management, 26(1), 119-139. DOI: https://doi.org/10.1007/s10490-008-9099-y

Creative Commons License

This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Copyright (c) 2020 Nova Scientia