A Typology of Family Firms: An Investigation of Entrepreneurial Orientation and Performance. (June 2019)

• Record Type: Journal Article
• Authors: Stanley, Laura J.; Hernández-Linares, Remedios; López-Fernández, María Concepción; Kellermanns, Franz W.
• Other Names: Neubaum Donald O. guest-editor.; Kammerlander Nadine guest-editor.; Brigham Keith H. guest-editor.
• Is Part Of: Family business review. Volume 32:Number 2(2019)
• Page Start: 174
• Page End: 194
• Publication Date: 2019-06
• Subjects: entrepreneurial orientation -- entrepreneurship -- factor/cluster/multidimensional scaling -- analytical methods -- latent profile analysis -- family firm heterogeneity -- family firm taxonomies; 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: 10.1177/0894486519838120
• Languages: English
• ISSNs: 0894-4865

Abstract

Drawing on family firm heterogeneity research, we develop a typology of family firms using differences in family influence and firm life cycle. We offer hypotheses regarding the relationships between the different firm types and two important outcomes: Entrepreneurial orientation (EO) and performance. Applying latent profile analysis to a sample of 684 Spanish and Portuguese family firms using variables related to family influence (i.e., ownership, family CEO) and firm life cycle (i.e., generational management, size, and presence of board of directors), we find four family firm types, which differentially affect EO and performance. Implications of our findings for EO, family firm performance, and the development of family firm typologies are discussed.