Between Kinship and Commerce: Fiduciaries and the Institutional Logics of Family Firms

Between Kinship and Commerce: Fiduciaries and the Institutional Logics of Family Firms In this study we explore how the institutions of kinship and commerce are integrated within family businesses. Previous research shows that family firms’ characteristic synthesis of institutional logics often unravels during intergenerational successions; however, it remains unclear how this process can be arrested, or by whom. Through inductive analysis, we offer a novel insight: outside advisors can act as surrogates for family in this integrative role. Specifically, we identify fiduciaries—professionals with special client obligations—as key actors in preserving family firms’ viability as commercial enterprises and kinship groups. Our findings contribute to theories of family businesses, professions, and institutions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Family Business Review SAGE

Between Kinship and Commerce: Fiduciaries and the Institutional Logics of Family Firms

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Publisher
SAGE Publications
Copyright
© The Author(s) 2018
ISSN
0894-4865
eISSN
1741-6248
D.O.I.
10.1177/0894486518780868
Publisher site
See Article on Publisher Site

Abstract

In this study we explore how the institutions of kinship and commerce are integrated within family businesses. Previous research shows that family firms’ characteristic synthesis of institutional logics often unravels during intergenerational successions; however, it remains unclear how this process can be arrested, or by whom. Through inductive analysis, we offer a novel insight: outside advisors can act as surrogates for family in this integrative role. Specifically, we identify fiduciaries—professionals with special client obligations—as key actors in preserving family firms’ viability as commercial enterprises and kinship groups. Our findings contribute to theories of family businesses, professions, and institutions.

Journal

Family Business ReviewSAGE

Published: Jun 1, 2018

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