We are pleased to announce that the award for the Best Article published in FBR in 2017 has been given to Daniel Holt and Kristen Madison from Mississippi State University and Franz Kellermanns from University of North Carolina at Charlotte, for their article “Variance in Family Members’ Assessments: The importance of dispersion modeling in family firm research.”
Among the unique characteristics differentiating family enterprises from their non-family counterparts is that family-owned businesses are much more driven by nonfinancial social and emotional motivators. In this week’s edition, Kim Schneider Malek explores the research that has been conducted on socioemotional wealth through her précis of “More Than Meets the Eye: A Review and Future Directions for the Social Psychology of Socioemotional Wealth,” an article appearing the March 2018 issue of FBR.
For family businesses, there is no one-size-fits-all approach to governance and advisers need to understand each family’s unique values and ownership philosophies before attempting to implement specific governance structures. Thanks to Marta Widz and Benoît Leleux from IMD for illustrating this point by sharing two cases where the family businesses have divergent ownership philosophies but have both excelled in their governance practices.
Is the pursuit of longevity by family businesses a flawed goal? Almost every practitioner would strongly answer ‘no!” However, for this week’s edition, Asher Noor has decided to adopt the contrarian position in this provocative and Shakespearean inspired piece. Let the play begin!
Thanks to this week’s contributors, Annie Koh and Esther Kong of Singapore Management University for providing a new perspective on how family business advisers can create trust and forge sustainable partnerships with the next generation. Their suggestion? The adviser should play the role of a Connector, Collaborator, and even a Co-Investor.