Entrepreneurial legacy: Toward a theory of how some family firms nurture transgenerational entrepreneurship

Journal of Business Venturing

Volumn 30, Issue 1, 2015, Pages 29-49

  Jaskiewicz, Peter ^a   Combs, James G ^b   Rau, Sabine B ^c  

^a John Molson School of Business   (Canada)

^b UNIVERSITY OF ALABAMA   (United States)

^c WHU OTTO BEISHEIM SCHOOL OF MANAGEMENT   (Germany)

Author keywords

Multi generation family firms; Qualitative research; Transgenerational entrepreneurship

Indexed keywords

EID: 84909589895     PISSN: 08839026     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jbusvent.2014.07.001     Document Type: Article

References (111)

1. Aldrich H.E., Renzulli L., Langton N. Passing on privilege: resources provided by self-employed parents to their self-employed children. Research in Social Stratification and Mobility 1998, 291-318. JAI Press, Greenwich, CT. K. Leicht (Ed.).
2. Alstott A.L. Is the family at odds with equality? The legal implications of the egalitarian family, 81, Southern California. Law Rev. 2008, 1-44.
3. Ashforth B.E., Kreiner G.E., Fugate M. All in a day's work: boundaries and micro role transitions. Acad. Manag. Rev. 2000, 25:472-491.
4. Barber B.K., Buehler C. Family cohesion and enmeshment: different constructs, different effects. J. Marriage Fam. 1996, 433-441.
5. Barnes L.B., Hershon S.A. Transferring power in the family business. Harv. Bus. Rev. 1976, 54:105-114.
6. Baron R.A., Ensley M.D. Opportunity recognition as the detection of meaningful patterns: evidence from comparisons of novice and experienced entrepreneurs. Manag. Sci. 2006, 52:1331-1344.
7. Baron J.N., Hannan M.T., Burton M.D. Building the iron cage: determinants of managerial intensity in the early years of organizations. Am. Sociol. Rev. 1999, 64:527-547.
8. Barry D., Elmes M. Strategy retold: toward a narrative view of strategic discourse. Acad. Manag. Rev. 1997, 22:429-452.
9. Baù M., Hellerstedt K., Nordqvist M., Wennberg K. Succession in family firms. The Landscape of Family Business 2013, 167-197. Edgar Elgar, Cheltenham, UK. R.L. Sorenson, A. Yu, K.H. Brigham, G.T. Lumpkin (Eds.).
10. Bellow A. In Praise of Nepotism 2003, Random House, New York.
11. Berrone P., Cruz C., Gómez-Mejía L.R., Larraza-Kintana M. Socioemotional wealth and corporate responses to institutional pressures: do family-controlled firms pollute less?. Adm. Sci. Q. 2010, 55:82-113.
12. Bertrand M., Schoar A. The role of family in family firms. J. Econ. Perspect. 2006, 20:73-96.
13. Block J.H. R&D investments in family and founder firms: an agency perspective. J. Bus. Ventur. 2012, 27:248-265.
14. Block J.H., Miller D., Jaskiewicz P., Spiegel F. Economic and technological importance of innovations in large family and founder firms: an analysis of patent data. Fam. Bus. Rev. 2013, 26:180-199.
15. Bloom B.L. A factor analysis of self-report measures of family functioning. Fam. Process 1985, 24:225-239.
16. Bloom N., Van Reenen J. Measuring and explaining management practices across firms and countries. Q. J. Econ. 2007, 122:1351-1408.
17. Boeker W. Strategic change: the effects of founding and history. Acad. Manag. J. 1989, 32:489-515.
18. Bunkanwanicha P., Fan J.P.H., Wiwattanakantang Y. The value of marriage to family firms. J. Financ. Quant. Anal. 2013, 48:611-636.
19. Burton M.D., Beckman C.M. Leaving a legacy: position imprints and successor turnover in young firms. Am. Sociol. Rev. 2007, 72:239-266.
20. Carney M. Corporate governance and competitive advantage in family-controlled firms. Entrep. Theory Pract. 2005, 29:249-265.
21. Chrisman J.J., Patel P. Variations in R&D investment in family and non-family firms: behavioral agency and myopic loss aversion perspectives. Acad. Manag. J. 2012, 55:976-997.
22. Chrisman J., Chua J., Pearson A., Barnett T. Family involvement, family influence, and family-centered non-economic goals in small firms. Entrep. Theory Pract. 2012, 34:267-293.
23. Cochran M., Larner M., Riley D., Gunnarsson L., Henderson C.R. Extending Families: The Social Networks of Parents and Their Children 1993, Cambridge University Press, New York.
24. Copeland A.P., White K.M. Studying families. Applied Social Research Methods Series 1991, vol. 27. Sage Publications.
25. Covin J.G., Miles M.P. Corporate entrepreneurship and the pursuit of competitive advantage. Corporate Entrepreneurship and Growth 2006, 47-63. Edward Elgar Publishing Ltd. S. Zahra (Ed.).
26. Creed W.E.D., Scully M.A., Austin J.R. Clothes make the person? The tailoring of legitimating accounts and the social construction of identity. Organ. Sci. 2002, 13:475-496.
27. Cruz C., Nordqvist M. Entrepreneurial orientation in family firms: a generational perspective. Small Bus. Econ. 2012, 38:33-49.
28. De Massis A., Chua J.H., Chrisman J.J. Factors preventing intra-family succession. Fam. Bus. Rev. 2008, 21:183-199.
29. Deephouse D., Jaskiewicz P. Do family firms have better reputations than non-family firms? An integration of socioemotional wealth and social identity theories. J. Manag. Stud. 2013, 50:337-360.
30. Deutsches Weininstitut The wine market in 2009 (accessed on 17 October 2010). http://www.deutscheweine.de/Alles-ueberWein/Statistiken-Grafiken/.
31. Deutsches Weininstitut The wine market in 2010 (accessed on 20 March 2011). http://www.deutscheweine.de/Alles-ueberWein/Statistiken-Grafiken/.
32. Eddleston K.A., Kellermanns F.W., Zellweger T.M. Entrepreneurial behavior of family firms: does stewardship perspective explain the difference?. Entrep. Theory Pract. 2012, 36:347-367.
33. Eichelmann G. Deutschlands Weine 2010: Das unabhängige Standardwerk. 949 Weingüter und 10.081 Weine 2009, Mondo, Heidelberg.
34. Eisenhardt K.M., Graebner M.E. Theory building from cases: opportunities and challenges. Acad. Manag. J. 2007, 50:25-32.
35. Elkind D. The Hurried Child: Growing Up Too Fast Too Soon 2007, Da Capo Lifelong Learning, New York. 25th Anniversary edition.
36. Ellul A., Pagano M., Panunzi F. Inheritance law and investment in family firms. Am. Econ. Rev. 2010, 100:2414-2450.
37. Fromberg D.P., Bergen D. Introduction. Play from Birth to Twelve: Contexts, Perspectives and Meanings 2006, Routledge, New York. D.P. Fromberg, D. Bergen (Eds.).
38. Gault Millau Gault Millau Wein Guide Deutschland 1994 1994, Christian Verlag, Munich.
39. Gault Millau Gault Millau Wein Guide Deutschland 2009 2009, Christian Verlag, Munich.
40. Gephart R.P. The textual approach: risk and blame in disaster sensemaking. Acad. Manag. J. 1993, 36:1465-1514.
41. Gephart R.P. Qualitative research and the Academy of Management Journal. Acad. Manag. J. 2004, 47:454-462.
42. Geroski P.A., Mata J., Portugal P. Founding conditions and the survival of new firms. Strateg. Manag. J. 2010, 31:510-529.
43. Gersick K.E., Davis J.A., Hampton M.M., Lansberg I. Generation to Generation: Life Cycles of the Family Business 1997, Harvard Business School Press, Boston.
44. Gioia D.A., Corley K.G., Hamilton A.L. Seeking qualitative rigor in inductive research: notes on the Gioia methodology. Organ. Res. Methods 2013, 16:15-31.
45. Gómez-Mejía L.R., Haynes K.T., Nunez-Nickel M., Jacobson K.J.L., Moyano-Fuentes J. Socioemotional wealth and business risks in family-controlled firms: evidence from Spanish olive oil mills. Adm. Sci. Q. 2007, 52:106-137.
46. Gómez-Mejía L.R., Makri M., Larraza-Kintana M.L. Diversification decisions in family-controlled firms. J. Manag. Stud. 2010, 47:223-252.
47. Gómez-Mejía L.R., Cruz C., Berrone P., De Castro J. The ties that bind: socioemotional wealth preservation in family firms. Acad. Manag. Ann. 2011, 5:653-707.
48. Graves C., Thomas J. Internationalization of the family business: a longitudinal perspective. Int. J. Glob. Small Bus. 2004, 1:7-27.
49. Handler W.C. Succession in family firms: a mutual role adjustment between entrepreneur and next-generation family members. Entrep. Theory Pract. 1990, 15:37-51.
50. Hannan M.T., Burton M.D., Baron J.N. Inertia and change in the early years: employment relations in young, high technology firms. Ind. Corp. Chang. 1996, 5:503-536.
51. Haynie M., Shepherd D.A., McMullen J.S. An opportunity for me? The role of resources in opportunity evaluation decisions. J. Manag. Stud. 2009, 46:337-361.
52. Hayward M.L., Forster W.R., Sarasvathy S.D., Fredrickson B.L. Beyond hubris: how highly confident entrepreneurs rebound to venture again. J. Bus. Ventur. 2010, 25:569-578.
53. Higgins M.C. Career Imprints: Creating Leaders Across an Industry 2005, Jossey-Bass, San Francisco.
54. Ibrahim A.B., Soufani K., Lam J. A study of succession in family firms. Fam. Bus. Rev. 2001, 14:245-258.
55. Ifera Family businesses dominate. Fam. Bus. Rev. 2003, 16:235-240.
56. Johnson H., Brook S. Der große Johnson: Die Enzyklopädie der Weine, Weinbaugebiete und Weinerzeuger der Welt 2009, Gräfe und Unzer Verlag GmbH, Munich.
57. Kellermanns F.W., Eddelston K.A. Corporate entrepreneurship in family firms: a family perspective. Entrep. Theory Pract. 2006, 30:809-830.
58. Kellermanns F.W., Eddleston K.A., Barnett T., Pearson A. An exploratory study of family member characteristics and involvement: effects on entrepreneurial behavior in family firms. Fam. Bus. Rev. 2008, 21:1-14.
59. Kimberly J.R., Bouchikhi H. The dynamics of organizational development and change: how the past shapes the present and constrains the future. Organ. Sci. 1995, 6:9-18.
60. La Porta R., Lopez-de-Silanes F., Shleifer A. Corporate ownership around the world. J. Financ. 1999, 54:471-517.
61. Laspita S., Breugst N., Heblich S., Patzelt H. Intergenerational transmission of entrepreneurial intentions. J. Bus. Ventur. 2012, 27:414-435.
62. Le Breton-Miller I., Miller D., Steier L. Toward an integrative model of effective FOB succession. Entrep. Theory Pract. 2004, 28:305-328.
63. Lewis P. Baron Guy de Rothschild, leader of French arm of bank dynasty, dies at 98. New York Times 2007, (published on June 14th 2007).
64. Lumpkin G.T., Dess G.G. Clarifying the entrepreneurial orientation construct and linking it to performance. Acad. Manag. Rev. 1996, 21:135-172.
65. Lumpkin G.T., Dess G.G. The role of entrepreneurial orientation in stimulating effective corporate entrepreneurship. Acad. Manag. Exec. 2005, 19:147-156.
66. Lumpkin G.T., Martin W.L., Vaughn M. Family orientation: individual-level influences on family firm outcomes. Fam. Bus. Rev. 2008, 21:127-138.
67. Lumpkin G.T., Brigham K.H., Moss T.W. Long-term orientation implications for the entrepreneurial orientation and performance of family businesses. Entrep. Reg. Dev. 2010, 22:241-264.
68. Malmendier U., Nagel S. Depression babies: do macroeconomic experiences affect risk taking?. Q. J. Econ. 2011, 126:373-416.
69. Marquis C., Tilcsik A. Imprinting: toward a multilevel theory. Acad. Manag. Ann. 2013, 7:195-245.
70. McMullen J.S., Shepherd D.A. Entrepreneurial action and the role of uncertainty in the theory of the entrepreneur. Acad. Manag. Rev. 2006, 31:132-152.
71. Miles R.E., Snow C.C., Pfeffer J. Organization-environment: concepts and issues. Ind. Relat. 1974, 13:244-264.
72. Miller D., Le Breton-Miller I. Managing for the Long Run 2005, Harvard Business School Press, Boston.
73. Miller D., Le Breton-Miller I., Lester R.H., Cannella A.A. Are family firms really superior performers?. J. Corp. Finan. 2007, 13:829-858.
74. Miller D., Le Breton-Miller I., Lester R.H. Family and lone founder ownership and strategic behaviour: social context, identity, and institutional logics. J. Manag. Stud. 2011, 48:1-25.
75. Ministerium für Wirtschaft, Verkehr, Landwirtschaft und Weinbau Suche Unternehmen - Biete Gründergeist. Report, Mainz 2010.
76. Morck R.K., Wolfenzon D., Yeung B. Corporate governance, economic entrenchment, and growth. J. Econ. Lit. 2005, 43:655-720.
77. Nicolaou N., Shane S. Can genetic factors influence the likelihood of engaging in entrepreneurial activity?. J. Bus. Ventur. 2009, 24:1-22.
78. Nordqvist M., Melin L. Entrepreneurial families and family firms. Entrep. Reg. Dev. 2010, 22:211-239.
79. Nordqvist M., Hall A., Melin L. Methodology and family business studies: the interpretive approach. CeFEO Working Paper Series 2008.
80. Nordqvist M., Wennberg K.J., Bau M., Hellerstedt K. An entrepreneurial process perspective on succession in family firms. Small Bus. Econ. 2013, 40:1087-1122.
81. O'Hara W.T., Mandel P. The world's oldest family companies. Family Business Magazine, Spring 2002, 37-49.
82. Ogbonna E., Harris L.C. The founder's legacy: hangover or inheritance?. Br. J. Manag. 2001, 12:13-31.
83. Penrose E.T. The Theory of the Growth of the Firm 1959, John Wiley, New York.
84. Plehn-Dujowich J.M. The dynamic relationship between entrepreneurship, unemployment, and growth: evidence from U.S. industries. Report of the Office of Advocacy in the United States Small Business Administration 2009.
85. Richards T.J., Richards L. Using computers in qualitative research. Handbook of Qualitative Research 1994, 445-462. Sage, Thousand Oaks. Y.K. Denzin, Y.S. Lincoln (Eds.).
86. Salvato C. The role of micro-strategies in the engineering of firm evolution. J. Manag. Stud. 2003, 40:83-108.
87. Santiago A.L. The family in family business: case of the in-laws in Philippine businesses. Fam. Bus. Rev. 2011, 24:343-361.
88. Schoar A., Zuo L. Shaped by booms and busts: how the economy impacts CEO careers and management style. MIT Sloan Working Paper 2011.
89. Schulze W.G., Lubatkin M.H., Dino R.N. Toward a theory of agency and altruism in family firms. J. Bus. Ventur. 2003, 18:473-490.
90. Schumpeter J. The Theory of Economic Development 1934, Harvard University Press, Cambridge.
91. Shane S. Prior knowledge and the discovery of entrepreneurial opportunities. Organ. Sci. 2000, 11:448-469.
92. Shane S., Venkataraman S. The promise of entrepreneurship as a field of research. Acad. Manag. Rev. 2000, 25:217-226.
93. Shapero A. Social dimensions of entrepreneurship. The Encyclopedia of Entrepreneurship 1982, 72-90. Prentice Hall, Englewood Cliffs, NY. C. Kent, D. Sexton, K. Vesper (Eds.).
94. Sieger P., Zellweger T., Nason R.S., Clinton E. Portfolio entrepreneurship in family firms: a resource-based perspective. Strateg. Entrep. J. 2011, 5:327-351.
95. Simon H. Hidden Champions: Lessons from 500 of the World's Best Unknown Companies 1996, Harvard Business School Press, Boston.
96. Sirmon D.G., Hitt M.A. Managing resources: linking unique resources, management, and wealth creation in family firms. Entrep. Theory Pract. 2003, 27:339-358.
97. Sorensen J.B. Closure and exposure: mechanisms in the intergenerational transmission of self-employment. Research in the Sociology of Organizations 2007, vol. 25:83-124. Emerald Group Publishing Limited, Bradford.
98. Stinchcombe A.L. Social structure and organizations. Handbook of Organizations 1965, 142-193. Rand McNally & Co., Chicago. J.G. March (Ed.).
99. Suddaby R., Greenwood R. Methodological issues in researching institutional change. The Sage Handbook of Organizational Research methods 2009, 177-195. Sage Publications, London. D.A. Buchanan, A. Bryman (Eds.).
100. Suddaby R., Foster W.M., Quinn-Trank C. Rhetorical history as a source of competitive advantage. Volume 27 -The Globalization of Strategy Research 2010.
101. Swaminathan A. Environmental conditions at founding and organizational mortality: a trial-by-fire model. Acad. Manag. J. 1996, 39:1350-1377.
102. Thakur S.P. Size of investment, opportunity choice and human resources in new venture growth: some typologies. J. Bus. Ventur. 1999, 14(3):283-309.
103. van Stel A.J., Carree M.A., Thurik A.R. The effect of entrepreneurial activity on national economic growth. Small Bus. Econ. 2005, 24:311-321.
104. Verband Deutscher Prädikatsweingüter Report (accessed on November 15, 2009). http://www.vdp.de/en/association/.
105. Ward J.L. Perpetuating the Family Business: 50 Lessons Learned from Long Lasting, Successful Families in Business 2004, Palgrave Macmillan, New York.
106. Wein und Markt Franken Best of Gold Published on June 30th 2009, (accessed on Nov. 8, 2012). http://www.wein-und-markt.de/index.php?redid=17818.
107. Weinwirtschaft Namen und Werte. 20 2011, Meininger Verlag GmbH, Neustadt/Weinstrasse.
108. Zahra S.A. Entrepreneurial risk taking in family firms. Fam. Bus. Rev. 2005, 18:23-40.
109. Zahra S.A., Covin J.G. Contextual influences on the corporate entrepreneurship-company performance relationship in established firms: a longitudinal analysis. J. Bus. Ventur. 1995, 10:43-58.
110. Zahra S.A., Hayton J.C., Salvato C. Entrepreneurship in family vs. non-family firms: a resource-based analysis of the effect of organizational culture. Entrep. Theory Pract. 2004, 28:363-381.
111. Zellweger T., Sieger P. Entrepreneurial orientation in long-lived family firms. Small Bus. Econ. 2012, 38:67-84.