Researching Long-Term Orientation: A Validation Study and Recommendations for Future Research. (March 2014)

• Record Type: Journal Article
• Authors: Brigham, Keith H.; Lumpkin, G. T.; Payne, G. Tyge; Zachary, Miles A.
• Other Names: Sharma Pramodita guest-editor.; Salvato Carlo guest-editor.; Reay Trish guest-editor.
• Is Part Of: Family business review. Volume 27:Number 1(2014:Mar.)
• Page Start: 72
• Page End: 88
• Publication Date: 2014-03
• Subjects: family business -- long-term orientation -- validation study; Family-owned business enterprises -- United States -- Periodicals; Home labor -- United States -- Periodicals; Small business -- United States -- Periodicals; New business enterprises -- United States -- Periodicals; 658.045
• DOI: 10.1177/0894486513508980
• Languages: English
• ISSNs: 0894-4865

Abstract

Assumptions about the long-term orientation (LTO) of family firms are common in family business research. Drawing on prior conceptualizations, this article further develops and validates the LTO construct using content analysis techniques on two separate samples of data. Validation comes through empirical analysis of content validity, external validity, dimensionality, and concurrent validity. We find that family firms are higher than nonfamily firms on all three dimensions of LTO. We also discuss how future research can use this now-validated construct to address key questions in family business research, as well as inform the broader business literature.