774980 FBRXXX10.1177/0894486518774980Family Business ReviewNeubaum and Voordeckers research-article2018 Commentary Family Business Review 2018, Vol. 31(2) 238 –239 © The Author(s) 2018 Documenting the “Family Effect” on Reprints and permissions: sagepub.com/journalsPermissions.nav Family Business Research https://doi.org/10.1177/0894486518774980 DOI: 10.1177/0894486518774980 journals.sagepub.com/home/fbr 1 2 Donald O. Neubaum and Wim Voordeckers While numerous prior studies compared the financial the family firm’s reputation across generations. performance of family and nonfamily firms, Dyer (2006) Furthermore, family firms may be able to foster strong argues that those studies fail to clearly differentiate the ties with its employees, creating another source of com- “family effect” from other variables that may influence petitive advantage. However, overly strong familial family firm performance. Relying on agency theory and bonds can also create an insular, self-interested firm the resource-based view of the firm, Dyer attempts to where family outsiders are distrusted. Finally, families isolate the unique attributes a family brings to a firm that may bring “survivability capital” to the firm, a factor might affect its performance. Specifically, this article that can not only protect the firm from during economic discusses how family goals, relationships, and resources difficultly but also encourage the launching of new busi- affect a family firm’s governance, characteristics, and ness
Family Business Review – SAGE
Published: Jun 1, 2018
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