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The Influence of Family Goals, Governance, and Resources on Firm Outcomes

Authors

  • James J. Chrisman,

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    • James J. Chrisman is Professor of Management and Director of the Center of Family Enterprise Research at Mississippi State University. He also holds a joint appointment as Senior Research Fellow with the Centre for Entrepreneurship and Family Enterprise at the University of Alberta, School of Business.
  • Pramodita Sharma,

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    • Pramodita Sharma is the Sanders Professor of Entrepreneurship and Family Enterprise Studies at the University of Vermont. She is also the Editor of Family Business Review and the Director of the Global Successful Transgenerational Entrepreneurship Practices (STEP) project at Babson College.
  • Lloyd P. Steier,

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    • Lloyd P. Steier is Professor in the Department of Strategic Management and Organization at the School of Business, University of Alberta. He is also Vice-Dean, holds a Distinguished Chair in Entrepreneurship and Family Enterprise, and is the Academic Director for the Centre for Entrepreneurship and Family Enterprise.
  • Jess H. Chua

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    • Jess H. Chua is Professor of Finance and Family Business Governance at the Haskayne School of Business of the University of Calgary, Chair of Family Business at the Lancaster University Management School, and Fotile Chair Professor of Family Business at Zhejiang University.

  • The guest editors acknowledge the Centre for Entrepreneurship and Family Enterprise at the University of Alberta, the Center of Family Enterprise Research at Mississippi State University, and an anonymous donor for providing financial support for the conference where the articles and commentaries contained in this special issue were originally presented.

Please send correspondence to: James J. Chrisman, tel.: 662-325-1991; e-mail: jchrisman@business.mssate.edu, to Pramodita Sharma at psharma@bsad.uvm.edu, to Lloyd P. Steier at lloyd.steier@ualberta.ca, and to Jess H. Chua at chua@ucalgary.ca.

Abstract

We briefly reflect on the theoretical contributions of the ongoing series of special issues on theories of family enterprise and discuss the contributions of each article and commentary in the current special issue. We observe that the meta-themes—the unique goals, governance, and resources of family firms—are not only primary sources of heterogeneity but key determinants of outcomes such as the continuation of family involvement, firm survival and renewal, and financial performance. We conclude that the importance and interrelationships of goals, governance, and resources suggest that a configuration approach to studying their interactions in family firms might be useful.

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