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Nature of Family Business

In: Entrepreneurial Family Businesses

Author

Listed:
  • Veland Ramadani

    (South East European University)

  • Esra Memili

    (University of North Carolina at Greensboro)

  • Ramo Palalić

    (International University of Sarajevo)

  • Erick P. C. Chang

    (Arkansas State University)

Abstract

This chapter treats the most important issues related to family businesses, such as family business definitions and categories, members of family businesses, family business systems, theoretical approaches, etc. Family businesses represent the oldest and the most common form of organizations and generate the most of new jobs in most of the countries. Researchers have recorded the predominance of family businesses in countries throughout the world, where approximately 90% of all businesses worldwide are family businesses. These businesses play a very important role in the economy and society. It should be emphasized that not all family businesses are small—they range from neighborhood’s micro-businesses to multibillion-dollar companies. According to Bloomberg Businessweek, around 35% of Fortune500-listed companies can be classified as family businesses.

Suggested Citation

  • Veland Ramadani & Esra Memili & Ramo Palalić & Erick P. C. Chang, 2020. "Nature of Family Business," Springer Texts in Business and Economics, in: Entrepreneurial Family Businesses, chapter 1, pages 1-28, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-47778-3_1
    DOI: 10.1007/978-3-030-47778-3_1
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    Cited by:

    1. Abeer Hassan & Lee Roberts & Kimberly Rodger, 2022. "Corporate accountability for biodiversity and species extinction: Evidence from organisations reporting on their impacts on nature," Business Strategy and the Environment, Wiley Blackwell, vol. 31(1), pages 326-352, January.

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