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- Publisher
- SAGE
- Copyright
- © The Author(s) 2015
- ISSN
- 0894-4865
- eISSN
- 1741-6248
- DOI
- 10.1177/0894486515581951
- Publisher site
- See Article on Publisher Site
Abstract
This exploratory study investigates the relationship between family members serving in an advising capacity and family firm performance. Integrating the stewardship and agency perspectives, we predict an inverted U-shaped relationship between the number of family advisors and family firm performance. We argue that the generation in control moderates this relationship such that family member advisors have a positive relationship with performance in first-generation family firms and an inverted U-shaped relationship with performance in later-generation family firms. Our empirical analysis on a sample of 128 Swedish family firms confirms our hypotheses. In the concluding section, we discuss results, contributions and future research directions.
Journal
Family Business Review – SAGE
Published: Sep 1, 2015