There is a familiar “curse” in the world of family businesses that both research and practice acknowledge: the vast majority of family businesses cannot successfully transition beyond three generations. The first generation builds with ambition, the second maintains discipline,…

External financing is understood as the process by which a company seeks financial resources from external organizations or individuals through methods such as debt financing, issuing shares, IPOs, or strategic partnerships (Brealey, Myers & Allen, 2020)…

In family businesses, trust is understood as an ethical bond among family members, based on mutual accountability, expectations of fairness, and a sense of responsibility that goes beyond blood ties. According to Sundaramurthy (2008), trust is not…

The concept of the family constitution was first mentioned by Émile Durkheim (1893) as a primitive notion in his work The Division of Labour in Society, where he described the family as a “basic institution of society – performing the function of reproduction and morality.”…

Planning the roadmap for building a successor generation in family businesses often begins one generation ahead. The incumbent generation usually spends 15 to 25 years “tempering” the new leadership generation to be capable of carrying on the family enterprise…

In today’s recruitment landscape, many qualified candidates choose to join family businesses rather than large corporations or multinational companies. This is a distinctive decision because working in a family business not only requires high professional competence but also demands that individuals adapt to…