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|Title:||Determinants of professionalization of TMT in private family firms||Authors:||VANDEKERKHOF, Pieter
|Issue Date:||2011||Source:||EIASM workshop on family firms management research, Witten, Germany, 27-29 mei 2011.||Abstract:||We examine the determinants of top management team professionalization in Belgian private family firms. Professionalization, conceptualized here as the inclusion of non-family managers, can be more challenging due to the unique composition of family firms. Therefore, predictions are based on contingency factors that are formed by three different subsystems: the ownership, business, and family system. A multi-theoretical approach is used to determine which family firms are more or less eager to hire non-family managers. Furthermore, the specific ties within a business family, translated by socio-emotional wealth, are considered to be influential. The results of the logistic regression analyses on a sample of 218 Belgian private family firms provide partial support for the effect of all three subsystems while also a significant influence of socio-emotional wealth is found. Hence, professionalization of top management teams in family firms is confirmed to be complex due to the unique interaction between the firm’s owners, management and family.||Keywords:||Professionalization, top management teams, family firms, contingencies, socio-emotional wealth||Document URI:||http://hdl.handle.net/1942/12291||Category:||C2||Type:||Conference Material|
|Appears in Collections:||Research publications|
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