Governance and trust in family firms: An introduction

Entrepreneurship: Theory and Practice

Volumn 34, Issue 6, 2010, Pages 1043-1056

  Eddleston, Kimberly A ^a   Chrisman, James J ^b   Steier, Lloyd P ^c   Chua, Jess H ^d  

^a NORTHEASTERN UNIVERSITY   (United States)

^b MISSISSIPPI STATE UNIVERSITY   (United States)

^c UNIVERSITY OF ALBERTA   (Canada)

^d UNIVERSITY OF CALGARY   (Canada)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 78449238117     PISSN: 10422587     EISSN: 15406520     Source Type: Journal    
DOI: 10.1111/j.1540-6520.2010.00412.x     Document Type: Article

References (69)

1. Anderson, C. & Thompson, L. (2004). Affect from the top down: How powerful individuals' positive affect shapes negotiations. Organizational Behavior and Human Decision Processes, 95, 125-139.
2. Banfield, E.C. (1958). The moral basis of a backward society. Glencoe, IL: Free Press.
3. Baron, R.A. (2008). The role of affect in the entrepreneurial process. Academy of Management Review, 33, 328-340.
4. Bradach, J.L. & Eccles, R.G. (1989). Price, authority, and trust: From ideal type to plural forms. Annual Review of Sociology, 15, 97-118.
5. Carney, M. (2005). Corporate governance and competitive advantage in family-controlled firms. Entrepreneurship Theory and Practice, 29, 249-265.
6. Chrisman, J.J., Chua, J.H., Kellermanns, F.W., & Chang, E.P.C. (2007). Are family managers agents or stewards? An exploratory study in privately held family firms. Journal of Business Research, 60, 1030-1038.
7. Chrisman, J.J., Steier, L.P., & Chua, J.H. (2008). Toward a theoretical basis for understanding the dynamics of strategic performance in family firms. Entrepreneurship Theory and Practice, 32, 935-947.
8. Chua, J.H., Chrisman, J.J., & Bergiel, E.B. (2009). An agency theoretic analysis of the professionalized family firm. Entrepreneurship Theory and Practice, 33, 355-372.
9. Chua, J.H., Chrisman, J.J., & Chang, E.P.C. (2004). Are family firms born or made? An exploratory investigation. Family Business Review, 17, 37-54.
10. Combs, J.G. (2008). Commentary: The servant, the parasite, and the enigma: A tale of three ownership structures and their affiliate directors. Entrepreneurship Theory and Practice, 32, 1027-1033.
11. Combs, J.G., Penney, C.R., Crook, T.R., & Short, J.C. (2010). The impact of family representation on CEO compensation. Entrepreneurship Theory and Practice, 34, 1125-1144.
12. Corbetta, G. & Salvato, C. (2004). Self-serving or self-actualizing? Models of man and agency costs in different types of family firms: A commentary on comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence. Entrepreneurship Theory and Practice, 28, 355-362.
13. Cruz, C.C., Gomez-Mejia, L.R., & Becerra, M. (2010). Perceptions of benevolence and the design of agency contracts: CEO-TMT relationships in family firms. Academy of Management Journal, 53, 69-89.
14. Davis, J.H., Allen, M.R., & Hayes, H.D. (2010). Is blood thicker than water? A study of stewardship perceptions in family business. Entrepreneurship Theory and Practice, 34, 1093-1115.
15. Davis, J.H., Schoorman, F.D., & Donaldson, L. (1997). Toward a stewardship theory of management. Academy of Management Review, 22, 20-47.
16. Dirks, K.T. & Ferrin, D.L. (2001). The role of trust in organizational settings. Organization Science, 12, 450-467.
17. Dirks, K.T., Lewicki, R.J., & Zaheer, A. (2009). Repairing relationships within and between organizations: Building a conceptual foundation. Academy of Management Review, 34, 68-84.
18. Dunn, J.R. & Schweitzer, M.E. (2005). Feeling and believing: The influence of emotion on trust. Journal of Personality and Social Psychology, 88, 736-748.
19. Dyer, W.G., Jr & Whetten, D.A. (2006). Family firms and social responsibility: Preliminary evidence from the S&P 500. Entrepreneurship Theory and Practice, 30, 785-802.
20. Eddleston, K.A. (2008). The prequel to family firm culture and stewardship: The leadership perspective of the founder. Entrepreneurship Theory and Practice, 32, 1055-1061.
21. Eddleston, K.A. & Kellermanns, F.W. (2007). Destructive and productive family relationships: A stewardship theory perspective. Journal of Business Venturing, 22, 545-565.
22. Eddleston, K., Kellermanns, F.W., & Sarathy, R. (2008). Resource configuration in family firms: Linking resources, strategic planning and environmental dynamism to performance. Journal of Management Studies, 45, 26-50.
23. Eisenhardt, K.M. (1989). Agency theory: An assessment and review. Academy of Management Review, 14, 57-74.
24. Forgas, J.P. (1999). On feeling good and being rude: Affective influences on language use and request formations. Journal of Personality and Social Psychology, 76, 928-939.
25. Freudenberger, H.J., Freedheim, D.K., & Kurtz, T.S. (1989). Treatment of individuals in family business. Psychotherapy, 26, 47-53.
26. Fukuyama, F. (1995). Trust: The social virtues and the creation of prosperity. New York: Free Press Paperbacks.
27. Gedajlovic, E. & Carney, M. (2010). Markets, hierarchies and families: Toward a transaction cost theory of the family firm. Entrepreneurship Theory and Practice, 34, 1145-1171.
28. Gersick, K.E., Davis, J.A., Hampton, M.M., & Lansberg, I. (1997). Generation to generation: Life cycles of the family business. Boston: Harvard Business School Press.
29. Graen, G.B. & Uhl-Bien, M. (1995). Relationship-based approach to leadership: Development of leader-member exchange (LMX) theory of leadership over 25 years: Applying a multi-level multi-domain perspective. Leadership Quarterly, 6, 219-247.
30. Gulati, R. (1995). Does familiarity breed trust? The implications of repeated ties for contractual choice in alliances. Academy of Management Journal, 38, 85-112.
31. Gulati, R. & Sytch, M. (2008). The dynamics of trust. Academy of Management Review, 33, 276-278.
32. Isen, A.M., Nygren, T.E., & Ashby, F.G. (1988). Influences of positive affect on the subjective utility of gains and losses: It is just not worth the risk. Journal of Personality and Social Psychology, 55, 710-717.
33. Jensen, M. & Meckling, W. (1976). Theory of the firm: Managerial behavior, agency cost and ownership structure. Journal of Financial Economics, 3(4), 305-360.
34. Kahneman, D. & Lovallo, D. (1993). Timid choices and bold forecasts: A cognitive perspective on risk taking. Management Science, 39, 17-31.
35. Kahneman, D. & Tversky, A. (1979). Prospect theory: An analysis of decision under risk. Econometrica, 47, 263-291.
36. Karra, N., Tracey, P., & Phillips, P. (2006). Altruism and agency in the family firm: Exploring the role of family, kinship, and ethnicity. Entrepreneurship Theory and Practice, 30, 861-878.
37. Le Breton-Miller, I. & Miller, D. (2009). Agency vs. stewardship in public family firms: A social embeddedness reconciliation. Entrepreneurship Theory and Practice, 33, 1169-1191.
38. Lewicki, R.J., McAllister, D.J., & Bies, R.J. (1998). Trust and distrust: New relationships and realities. Academy of Management Review, 23, 438-458.
39. Macaulay, S. (1963). Non-contractual relations in business: A preliminary study. American Sociological Review, 28, 55-67.
40. Mayer, R.C., Davis, J.H., & Schoorman, R.D. (1995). An integrative model of organizational trust. Academy of Management Review, 20, 709-734.
41. Mayer, R.C. & Gavin, M.B. (2005). Trust in management and performance: Who minds the shop while the employees watch the boss? Academy of Management Journal, 48, 874-888.
42. Miller, D., Le Breton-Miller, I., & Scholnick, B. (2008). Stewardship vs. stagnation: An empirical comparison of small family and non-family businesses. Journal of Management Studies, 45, 51-78.
43. Mitchell, R.K., Busenitz, L.W., Bird, B., Gaglio, C.M., McMullen, J.S., Morse, E.A., & Smith, J.B. (2007). The central question in entrepreneurial cognition research 2007. Entrepreneurship Theory and Practice, 31, 1-27.
44. Morris, M.H., Allen, J.A., Kuratko, D.F., & Brannon, D. (2010). Experiencing family business creation: Differences between founders, nonfamily managers, and founders of non-family firms. Entrepreneurship Theory and Practice, 34, 1057-1083.
45. Orth, U.R. & Green, M.T. (2009). Consumer loyalty to family versus non-family businesses: The roles of store image, trust and satisfaction. Journal of Retailing and Consumer Services, 16, 248-259.
46. Pearson, A.W., Carr, J.C., & Shaw, J.C. (2008). Toward a theory of familiness: A social capital perspective. Entrepreneurship Theory and Practice, 32, 949-969.
47. Pearson, A.W. & Marler, L.E. (2010). A leadership perspective of reciprocal stewardship in family firms. Entrepreneurship Theory and Practice, 34, 1117-1123.
48. Puranam, P. & Vanneste, B.S. (2009). Trust and governance: Untangling a tangled web. Academy of Management Review, 34, 11-31.
49. Rediker, K. & Seth, A. (1995). Boards of directors and substitution effects of alternative governance mechanisms. Strategic Management Journal, 16, 85-99.
50. Rousseau, D.M., Sitkin, S.B., Burt, R.S., & Camerer, C. (1998). Not so different after all: A cross-discipline view of trust. Academy of Management Review, 23, 393-404.
51. Schoorman, F.D., Mayer, R.C., & Davis, J.H. (2007). An integrative model of organizational trust: Past, present and future. Academy of Management Review, 32, 344-354.
52. Sharma, P. (2008). Commentary: Familiness: Capital stocks and flows between family and business. Entrepreneurship Theory and Practice, 32, 971-977.
53. Shepherd, D. & Zacharakis, A. (2001). The venture capitalist-entrepreneur relationship: Control, trust and confidence in co-operative behavior. Venture Capital, 3(2), 129-149.
54. Sirmon, D.G. & Hitt, M.A. (2003). Managing resources: Linking unique resource, management and wealth creation in family firms. Entrepreneurship Theory and Practice, 27, 339-358.
55. Sitkin, S.B. & Roth, N.L. (1993). Explaining the limited effectiveness of legalistic "remedies" for trust/distrust. Organization Science, 4, 367-392.
56. Sitkin, S. & Stickel, D. (1996). The road to hell: The dynamics of distrust in an era of quality. In R. Kramer & T. Tyler (Eds.), Trust in organizations (pp. 196-215). London: Sage.
57. Smith, G.D. (2009). East Africa: Extended families with many rights. Entrepreneurship Theory and Practice, 33, 1239-1244.
58. Stanley, L.J. (2010). Emotions and family business creation: An extension and implications. Entrepreneurship Theory and Practice, 34, 1085-1091.
59. Steier, L. (2001a). Family firms, plural forms of governance, and the evolving role of trust. Family Business Review, 14, 353-367.
60. Steier, L. (2001b). Next generation entrepreneurs and succession: Modes and means of managing social capital. Family Business Review, 14, 259-276.
61. Steier, L. (2009). Where do new firms come from? Households, family capital, ethnicity, and the welfare mix. Family Business Review, 22(3), 273-278.
62. Steier, L.P., Chua, J.H., & Chrisman, J.J. (2009). Embeddedness perspectives of economic action within family firms. Entrepreneurship Theory and Practice, 33, 1157-1167.
63. Sundaramurthy, C. (2008). Sustaining trust within family businesses. Family Business Review, 21, 89-102.
64. Van der Heyden, L., Blondel, C., & Carlock, R.S. (2005). Fair process: Striving for justice in family business. Family Business Review, 18, 1-21.
65. Verbeke, A. & Greidanus, N. (2009). The end of the opportunism versus trust debate: Bounded reliability as a new envelope-concept in research on MNE governance. Journal of International Business Studies, 40(9), 1471-1495.
66. Verbeke, A. & Kano, L. (2010). Transaction cost economics (TCE) and the family firm. Entrepreneurship Theory and Practice, 34, 1173-1182.
67. Villanueva, J. & Sapienza, H.J. (2009). Goal tolerance, outside investors, and family firm governance. Entrepreneurship Theory and Practice, 32, 1193-1199.
68. Weick, K.E. (2008). Trust: A bigger picture. Academy of Management Review, 33, 271-274.
69. Zahra, S.A., Hayton, J.C., Neubaum, D.O., Dibrell, C., & Craig, J. (2008). Culture of family commitment and strategic flexibility: The moderating effect of stewardship. Entrepreneurship Theory and Practice, 32, 1035-1054.