Thoughts on Direct Investing: An interview with Paul Carbone
François de Visscher (FdV): Why is it more attractive to be a direct investor as opposed to investing in private equity funds? Paul Carbone (PC): Well, I think there are several reasons.
Sex and Gender in Family Business Succession Research: A Review and Forward Agenda From a Social Construction Perspective
As practitioners we encounter gender-related issues regularly as we help business families plan for the future ownership and leadership of their enterprises.
The Impact of Adolescent Work in Family Business on Child–Parent Relationships and Psychological Well- Being
Parents who are owners of family companies are generally intensely interested in their children’s development both as healthy, aspiring individuals and as future owners.
Research Applied: FBR Précis for the Practitioner
Thanks to Guido Corbetta, John Davis and Maya Prabhu for their précis of articles published in the September issue of FBR.
Is It Better to Govern Managers via Agency or Stewardship? Examining Asymmetries by Family Versus Nonfamily Affiliation
The core question of the article is clear: Is agency or stewardship governance more effective for aligning the interests of (family or nonfamily) managers with those of family owners?
Preventive Medicine for Family Firms Facing Predictable Stress Points
Points of significant change and transition in the life of a family business lead to predictable psychological reactions.
Tools for Exploring the Family Business System: Some Examples and Some Thoughts
Many practitioners who advise family-owned companies employ assessments or surveys to gain a glimpse into what’s occurring in the family business system.
Family Business Review (FBR) by the Numbers
FFI’s journal, Family Business Review (FBR), is a refereed journal published quarterly since 1988.
Single Family Office Finesse
Family offices have been following wealth. Historically, in Europe, private banking addressed most family issues. In the US, that concept followed the Titanic and did not cross the Atlantic that well.
How Are MENA Family Businesses Creating Their Legacies
Managing any business involves many challenges. But managing a family business brings with it a unique set of challenges, many due to the close emotional relationships involved.
Managing Family Business Succession: A six step process
For families in business nothing is more challenging than succession. Part of the problem is that succession is a multi-disciplinary task, involves multiple stakeholders, and is a once-in-a-lifetime challenge for most entrepreneurs. So, where to start when dealing with succession? Here is an attempt towards filling this gap – a six step process for practitioners to consider when developing a succession plan for a small to mid-sized firm. Clarifying the goals and priorities Both incumbent and successor have to clarify their goals and priorities with regard to succession. For the incumbent
The Power of Effective Peer Groups
Family members in a family enterprise are often isolated, having learned early on that to share stories of their business and family can end up hurting the business and all involved.
Research Applied: FBR Précis for the Practitioner
Following on the early release of the June 2017 issue of FBR, we are pleased to present the following three précis. Thanks to the original authors and the authors of the précis for this continuing feature in The Practitioner.
Family Firms and Compliance: Reconciling the Conflicting Predictions Within the Socioemotional Wealth Perspective
Corporate scandals and financial meltdowns have led to corporate governance reforms all around the world. In addition to the rules and laws that firms have to legally comply with, several self-regulatory codes or ‘soft-laws’ have been enacted in many countries.
Family Firm(s) Outcomes Model: Structuring Financial and Nonfinancial Outcomes Across the Family and Firm
We all know that many family business owners have different types of goals than do the executives of non-family enterprises, especially publicly-traded corporations. In spite of this awareness, researchers have predominantly attempted to measure family firm performance by financial measures.
The Impact of Incentive Compensation on Labor Productivity in Family and Nonfamily Firms
Family business leaders have long been exhorted to professionalize their businesses. While what this entails has yet to be precisely determined, most would concede that professionalization entails the adoption of a range of human resource systems and practices.
Keep the Creativity and Innovation Plugged In!
Usually the most prized thing that we as established practitioners lose is our creativity. Once a niche is carved and sustained over decades of hard work, inevitably, at some point in time, complacency sets in.
Lesson for Family Advisors: “Not all pain is harmful”
Two brothers, Andrew and Dave, started a health-related service business in Dave’s basement.
Jumpstarting Innovation within the Family Firm: An interview with Alan Robinson
Lanie Jordan, co-chair of The Practitioner Editorial Committee interviews UMass’s Alan Robinson on corporate creativity and innovation. “In organizations with effective idea systems, roughly 80 percent of overall performance improvement comes from front line ideas.”
Sparking Powerful Conversations in the Family Business
I think advisors recognize that business owners have an added level of complexity in their lives — this holds true for wealth-holding families as well. This complexity is just a natural part of the system.