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Follow the Capital: Benefits of Tracking Family Capital Across Family and Business Systems

In: Understanding Family Businesses

Author

Listed:
  • Sharon M. Danes

    (University of Minnesota)

  • Katherine E. Brewton

    (University of Minnesota)

Abstract

The Sustainable Family Business Theory (SFBT) is a comprehensive and flexible theory developed to enhance understanding of the dynamic role of the family in family business entrepreneurship as well as demonstrate integration of the family, business, and community. SFBT draws upon general systems theory and gives equal recognition to family and firm. The theory focuses on firm sustainability rather than revenue, which is the focus of most other theories used to study family firms. SFBT posits that sustainability is a function of both firm success and family functioning and is concerned with how family members exchange resources across systems. SFBT was introduced in 1999 by Stafford, Duncan, Danes, and Winter. In 2008, changes were presented to clarify tenets, introduce advancements, and explain its applicability to ethnic family businesses (Danes et al. 2008a). It was empirically tested both in 2003 (Olson et al. 2003) with cross-sectional data and in 2009 with longitudinal data (Danes et al. 2009b).

Suggested Citation

  • Sharon M. Danes & Katherine E. Brewton, 2012. "Follow the Capital: Benefits of Tracking Family Capital Across Family and Business Systems," International Studies in Entrepreneurship, in: ALAN CARSRUD & Malin Brännback (ed.), Understanding Family Businesses, chapter 0, pages 227-250, Springer.
    • Handle: RePEc:spr:inschp:978-1-4614-0911-3_14
    DOI: 10.1007/978-1-4614-0911-3_14
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    Citations

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    Cited by:

    1. Alex Bryson & Harald Dale-Olsen & Trygve Gulbrandsen, 2016. "Family ownership, Workplace Closure and the Recession," DoQSS Working Papers 16-06, Quantitative Social Science - UCL Social Research Institute, University College London.
    2. Yang Yunxi & Danes Sharon M., 2015. "Resiliency and Resilience Process of Entrepreneurs in New Venture Creation," Entrepreneurship Research Journal, De Gruyter, vol. 5(1), pages 1-30, January.
    3. Danny Miller & Johan Wiklund & Wei Yu, 2020. "Mental Health in the Family Business: A Conceptual Model and a Research Agenda," Entrepreneurship Theory and Practice, , vol. 44(1), pages 55-80, January.
    4. Danes Sharon M., 2013. "Entrepreneurship Success: “The Lone Ranger” Versus “It Takes a Village” Approach?," Entrepreneurship Research Journal, De Gruyter, vol. 3(3), pages 277-286, July.
    5. Imen Mzid & Nada Khachlouf & Richard Soparnot, 2019. "How does family capital influence the resilience of family firms?," Journal of International Entrepreneurship, Springer, vol. 17(2), pages 249-277, June.
    6. Llach, Josep & Sanchez-Famoso, Valeriano & Danes, Sharon M., 2023. "Unmasking nonfamily employees’ complex contribution to family business performance: A place identity theory approach," Journal of Family Business Strategy, Elsevier, vol. 14(4).
    7. Stafford, Kathryn & Danes, Sharon M. & Haynes, George W., 2013. "Long-term family firm survival and growth considering owning family adaptive capacity and federal disaster assistance receipt," Journal of Family Business Strategy, Elsevier, vol. 4(3), pages 188-200.
    8. Jang Juyoung & Danes Sharon M., 2013. "Role Interference in Family Businesses," Entrepreneurship Research Journal, De Gruyter, vol. 3(3), pages 367-390, July.
    9. Jang Juyoung & Danes Sharon M., 2013. "Are We on the Same Page?: Copreneurial Couple Goal Congruence and New Venture Viability," Entrepreneurship Research Journal, De Gruyter, vol. 3(4), pages 483-504, September.
    10. Diane Arijs & Anneleen Michiels, 2021. "Mental Health in Family Businesses and Business Families: A Systematic Review," IJERPH, MDPI, vol. 18(5), pages 1-20, March.
    11. Hsu, Dan K. & Wiklund, Johan & Anderson, Stella E. & Coffey, Betty S., 2016. "Entrepreneurial exit intentions and the business-family interface," Journal of Business Venturing, Elsevier, vol. 31(6), pages 613-627.

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