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Personalism, Particularism, and the Competitive Behaviors and Advantages of Family Firms: An Introduction

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  • James J. Chrisman
  • Lloyd P. Steier
  • Jess H. Chua

Abstract

Fundamental assumptions of any theory of the family firm are that family firms will behave in ways that differ from nonfamily firms, and that the behaviors of family firms will also exhibit substantial variations. This special issue includes a set of articles and commentaries that study such differences. This introduction synthesizes these articles using the concepts of personalism and particularism. We argue that the set of articles contained in this special issue contributes to the literature by explaining how the ability and willingness of family firms to behave in an idiosyncratic fashion leads to advantages and disadvantages that distinguish between family and nonfamily firms and between different types of family firms.

Suggested Citation

  • James J. Chrisman & Lloyd P. Steier & Jess H. Chua, 2006. "Personalism, Particularism, and the Competitive Behaviors and Advantages of Family Firms: An Introduction," Entrepreneurship Theory and Practice, , vol. 30(6), pages 719-729, November.
    • Handle: RePEc:sae:entthe:v:30:y:2006:i:6:p:719-729
    DOI: 10.1111/j.1540-6520.2006.00146.x
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    References listed on IDEAS

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    1. Frank Hoy, 2006. "The Complicating Factor of Life Cycles in Corporate Venturing," Entrepreneurship Theory and Practice, , vol. 30(6), pages 831-836, November.
    2. Michael Carney, 2005. "Corporate Governance and Competitive Advantage in Family–Controlled Firms," Entrepreneurship Theory and Practice, , vol. 29(3), pages 249-265, May.
    3. Tim Barnett & Franz W. Kellermanns, 2006. "Are We Family and Are We Treated as Family? Nonfamily Employees’ Perceptions of Justice in the Family Firm," Entrepreneurship Theory and Practice, , vol. 30(6), pages 837-854, November.
    4. Randall Morck & Bernard Yeung, 2004. "Family Control and the Rent–Seeking Society," Entrepreneurship Theory and Practice, , vol. 28(4), pages 391-409, July.
    5. Michael D. Ensley & Allison W. Pearson, 2005. "An Exploratory Comparison of the Behavioral Dynamics of Top Management Teams in Family and Nonfamily New Ventures: Cohesion, Conflict, Potency, and Consensus," Entrepreneurship Theory and Practice, , vol. 29(3), pages 267-284, May.
    6. McConaughy, Daniel L. & Walker, Michael C. & Henderson, Glenn Jr. & Mishra, Chandra S., 1998. "Founding family controlled firms: Efficiency and value," Review of Financial Economics, Elsevier, vol. 7(1), pages 1-19.
    7. James J. Chrisman & Jess H. Chua & Lloyd Steier, 2005. "Sources and Consequences of Distinctive Familiness: An Introduction," Entrepreneurship Theory and Practice, , vol. 29(3), pages 237-247, May.
    8. Franz W. Kellermanns & Kimberly A. Eddleston, 2006. "Corporate Entrepreneurship in Family Firms: A Family Perspective," Entrepreneurship Theory and Practice, , vol. 30(6), pages 809-830, November.
    9. Lloyd P. Steier & John L. Ward, 2006. "If Theories of Family Enterprise Really Do Matter, So Does Change in Management Education," Entrepreneurship Theory and Practice, , vol. 30(6), pages 887-895, November.
    10. Timothy G. Habbershon, 2006. "Commentary: A Framework for Managing the Familiness and Agency Advantages in Family Firms," Entrepreneurship Theory and Practice, , vol. 30(6), pages 879-886, November.
    11. repec:bla:jfinan:v:58:y:2003:i:3:p:1301-1327 is not listed on IDEAS
    12. William S. Schulze & Michael H. Lubatkin & Richard N. Dino & Ann K. Buchholtz, 2001. "Agency Relationships in Family Firms: Theory and Evidence," Organization Science, INFORMS, vol. 12(2), pages 99-116, April.
    13. Alan L. Carsrud, 2006. "Commentary: “Are We Family and Are We Treated as Family? Nonfamily Employees’ Perceptions of Justice in the Family Firm†: It All Depends on Perceptions of Family, Fairness, Equity, and Justice," Entrepreneurship Theory and Practice, , vol. 30(6), pages 855-860, November.
    14. Neri Karra & Paul Tracey & Nelson Phillips, 2006. "Altruism and Agency in the Family Firm: Exploring the Role of Family, Kinship, and Ethnicity," Entrepreneurship Theory and Practice, , vol. 30(6), pages 861-877, November.
    15. Ronald C. Anderson & David M. Reeb, 2003. "Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500," Journal of Finance, American Finance Association, vol. 58(3), pages 1301-1328, June.
    16. W. Gibb Dyer Jr. & David A. Whetten, 2006. "Family Firms and Social Responsibility: Preliminary Evidence from the S&P 500," Entrepreneurship Theory and Practice, , vol. 30(6), pages 785-802, November.
    17. Jess H. Chua & Lloyd P. Steier & James J. Chrisman, 2006. "How Family Firms Solve Intra–Family Agency Problems Using Interlocking Directorates: An Extension," Entrepreneurship Theory and Practice, , vol. 30(6), pages 777-783, November.
    18. Habbershon, Timothy G. & Williams, Mary & MacMillan, Ian C., 2003. "A unified systems perspective of family firm performance," Journal of Business Venturing, Elsevier, vol. 18(4), pages 451-465, July.
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    Cited by:

    1. Carmelo Cennamo & Pascual Berrone & Cristina Cruz & Luis R. Gomez–Mejia, 2012. "Socioemotional Wealth and Proactive Stakeholder Engagement: Why Family–Controlled Firms Care More about their Stakeholders," Entrepreneurship Theory and Practice, , vol. 36(6), pages 1153-1173, November.
    2. Kimberly A. Eddleston & Franz W. Kellermanns & Steven W. Floyd & Victoria L. Crittenden & William F. Crittenden, 2013. "Planning for Growth: Life Stage Differences in Family Firms," Entrepreneurship Theory and Practice, , vol. 37(5), pages 1177-1202, September.
    3. Cunha, Miguel Pina e & Rego, Arménio & Clegg, Stewart & Jarvis, Walter P., 2021. "Stewardship as process: A paradox perspective," European Management Journal, Elsevier, vol. 39(2), pages 247-259.
    4. Weismeier-Sammer, Daniela, 2011. "Entrepreneurial behavior in family firms: A replication study," Journal of Family Business Strategy, Elsevier, vol. 2(3), pages 128-138.
    5. Basco, Rodrigo, 2013. "The family's effect on family firm performance: A model testing the demographic and essence approaches," Journal of Family Business Strategy, Elsevier, vol. 4(1), pages 42-66.
    6. Lloyd P. Steier & Jess H. Chua & James J. Chrisman, 2009. "Embeddedness Perspectives of Economic Action within Family Firms," Entrepreneurship Theory and Practice, , vol. 33(6), pages 1157-1167, November.
    7. Chris Carr & Suzanne Bateman, 2009. "International Strategy Configurations of the World’s Top Family Firms," Management International Review, Springer, vol. 49(6), pages 733-758, December.
    8. Nathan L. Hammond & Allison W. Pearson & Daniel T. Holt, 2016. "The Quagmire of Legacy in Family Firms: Definition and Implications of Family and Family Firm Legacy Orientations," Entrepreneurship Theory and Practice, , vol. 40(6), pages 1209-1231, November.
    9. Basco, Rodrigo, 2015. "Family business and regional development—A theoretical model of regional familiness," Journal of Family Business Strategy, Elsevier, vol. 6(4), pages 259-271.
    10. Kontinen, Tanja & Ojala, Arto, 2010. "The internationalization of family businesses: A review of extant research," Journal of Family Business Strategy, Elsevier, vol. 1(2), pages 97-107, June.

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