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Selling the Family Business? Set up a Family Office First!
Family Office / Latest Thinking in the Field

Selling the Family Business? Set up a Family Office First!

Most businesses are cash guzzlers. They have liquidity cycles which usually define the remuneration structure — the way a family spends and lives its life. And families managing such businesses usually funnel all liquidity into them. After all, the business needs it (which to most family business owners takes precedence over other needs), and the … Continue reading

The Power of Effective Peer Groups
Latest Thinking in the Field

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. Family business-focused peer groups offer a welcome reprieve from this isolation. They normalize the individual’s experiences and provide opportunities to share with and learn … Continue reading

Research Applied: <i>FBR</i> Précis for the Practitioner
Family Business Review

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. Go here for: Frank Hoy’s précis of Family Firm(s) Outcomes Model: Structuring Financial and Nonfinancial Outcomes … Continue reading

Family Firms and Compliance: Reconciling the Conflicting Predictions Within the Socioemotional Wealth Perspective
Family Business Review

Family Firms and Compliance: Reconciling the Conflicting Predictions Within the Socioemotional Wealth Perspective

(Authors: Luiz Ricardo Kabbach de Castro, Ruth V. Aguilera, and Rafel Crespí-Cladera) Research Applied précis prepared by Navneet Bhatnagar, Thomas Schmidheiny Centre for Family Enterprise, Indian School of Business 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 … Continue reading

Family Firm(s) Outcomes Model: Structuring Financial and Nonfinancial Outcomes Across the Family and Firm
Family Business Review

Family Firm(s) Outcomes Model: Structuring Financial and Nonfinancial Outcomes Across the Family and Firm

(Authors: Daniel T. Holt, Allison W. Pearson, Jon C. Carr, and Tim Barnett) Research Applied précis prepared by Frank Hoy, Worcester Polytechnic Institute 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 … Continue reading

The Impact of Incentive Compensation on Labor Productivity in Family and Nonfamily Firms
Family Business Review

The Impact of Incentive Compensation on Labor Productivity in Family and Nonfamily Firms

(Authors: James J. Chrisman, Srikant Devaraj, and Pankaj C. Patel) Research Applied précis prepared by Ken Moores, Moores Family Enterprise and Bond University Introduction 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 … Continue reading

Long Term Incentive Programs (LTIPs) and Family-Owned Business
Latest Thinking in the Field

Long Term Incentive Programs (LTIPs) and Family-Owned Business

When a family-owned business needs to recruit a non-family CEO or COO, a well-structured Long Term Incentive Program (LTIP) is essential in attracting an outstanding candidate. However, LTIPs can make some family business owners uncomfortable. Few families want to give up true ownership, even when they realize that non-family leadership is important for the health … Continue reading