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Ambitions, external environment and strategic factor differences between family and non--family companies

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  • Paul. Westhead

Abstract

Family firms are regarded as an important phenomenon throughout the world. It is, however, surprizing to note that empirical research surrounding the ambitions, ‘external’ environments and strategies of family firms is scarce. This exploratory paper addresses this research gap. To detect real rather than sample differences between independent family i and non--family unquoted companies in the UK, a matched sample methodology was utilized. In total, data was collected on 51 variables. Chi--square tests revealed 16 statistically significant contrasts between the two matched groups of companies. A discriminant analysis model, in addition, revealed the combination of variables that best dichotomized family from non--family companies. This model confirmed that family companies faced a number of unique issues that influ--enced their competitive stance. Interestingly, family companies that were resistant to change and unaware of emerging industry and market opportunities were markedly less likely to have focused upon technology concerns in order to improve their competitive position.

Suggested Citation

  • Paul. Westhead, 1997. "Ambitions, external environment and strategic factor differences between family and non--family companies," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 9(2), pages 127-158, January.
    • Handle: RePEc:taf:entreg:v:9:y:1997:i:2:p:127-158
    DOI: 10.1080/08985629700000007
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    Cited by:

    1. JORISSEN, Ann & REHEUL, Anne-Mie & LAVEREN, Eddy & MARTENS, Rudy, "undated". "Short-term planning Ssphistication in SMEs: The relationship with strategy and perceived environmental uncertainty," Working Papers 2006022, University of Antwerp, Faculty of Business and Economics.
    2. Desislava I. Yordanova, 2016. "Differences between Bulgarian Family and Non-family Businesses: A Multivariate Logit Approach," International Review of Management and Marketing, Econjournals, vol. 6(4), pages 779-789.
    3. Nicolas Classen & Martin Carree & Anita Gils & Bettina Peters, 2014. "Innovation in family and non-family SMEs: an exploratory analysis," Small Business Economics, Springer, vol. 42(3), pages 595-609, March.
    4. Backman, Mikaela & Palmberg, Johanna, 2015. "Contextualizing small family firms: How does the urban–rural context affect firm employment growth?," Journal of Family Business Strategy, Elsevier, vol. 6(4), pages 247-258.
    5. Sami Basly & Amira Hammouda, 2020. "Family Businesses and Digital Entrepreneurship Adoption: A Conceptual Model," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 29(2), pages 326-364, September.
    6. Dianne H. B. Welsh & Eugene Kaciak & Silvana Trimi & Emerson Wagner Mainardes, 2018. "Women Entrepreneurs and Family Firm Heterogeneity: Evidence from an Emerging Economy," Group Decision and Negotiation, Springer, vol. 27(3), pages 445-465, June.
    7. Goossens, L. & Manigart, S. & Meuleman, M., 2007. "The change of ownership after a buyout: Impact on performance," Vlerick Leuven Gent Management School Working Paper Series 2007-26, Vlerick Leuven Gent Management School.
    8. Welsh, Dianne H.B. & Botero, Isabel C. & Kaciak, Eugene & Kopaničová, Janka, 2021. "Family emotional support in the transformation of women entrepreneurs," Journal of Business Research, Elsevier, vol. 137(C), pages 444-451.
    9. Howorth, Carole & Westhead, Paul & Wright, Mike, 2004. "Buyouts, information asymmetry and the family management dyad," Journal of Business Venturing, Elsevier, vol. 19(4), pages 509-534, July.
    10. Desislava I. Yordanova, 2016. "Differences between Bulgarian Family and Non-family Businesses: A Multivariate Logit Approach," International Review of Management and Marketing, Econjournals, vol. 6(4), pages 779-789.
    11. Sami Basly & Amira Hammouda, 2020. "Family Businesses and Digital Entrepreneurship Adoption: A Conceptual Model," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 29(2), pages 326-364, September.

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