Understanding the multiple facets of risk in family firms: A review of the literature and a framework for future research

[1]  Roshni Das.  What do we know about High Performance Work Systems? A bibliometric summary of 30 years of research , 2024 .

[2]  Sabela Siaba,et al.  The evolution of the field of family business research over a decade (2012–2022) , 2024, Small Business Economics.

[3]  James J. Chrisman,et al.  The family business CEO: A review of insights and opportunities for advancement , 2023, Journal of Small Business Management.

[4]  Daniela Andreini,et al.  That's the Press, Baby! How journalists co-create family business brands meanings: A mixed method analysis , 2023, Journal of Business Research.

[5]  Cristina Bettinelli,et al.  Family business system dynamics in the aftermath of in-law entry: A reflection on emotions and strategic change , 2022, Long Range Planning.

[6]  L. Scholes,et al.  External Crises and Family Social Capital Reconfiguration: Insights From the European Debt Crisis and the Covid-19 Pandemic , 2022, Family Business Review.

[7]  S. Sciascia,et al.  Effective business model adaptations in family SMEs in response to the COVID-19 crisis , 2022, Journal of Family Business Management.

[8]  Raj V. Mahto,et al.  Marketing and family firms: Theoretical roots, research trajectories, and themes , 2022, Journal of Business Research.

[9]  F. Chirico,et al.  Best Among the Worst or Worst Among the Best? Socioemotional Wealth and Risk-Performance Returns for Family and Non-family Firms Under Financial Distress , 2022, SSRN Electronic Journal.

[10]  L. Gómez-Mejia,et al.  Are narcissistic CEOs good or bad for family firm innovation? , 2022, Human Relations.

[11]  Alfredo De Massis,et al.  Family Firms, Family Boundary Organizations, and the Family-Related Organizational Ecosystem , 2021, Family Business Review.

[12]  Weng Marc Lim,et al.  What do we know about transfer pricing? Insights from bibliometric analysis , 2021 .

[13]  Weng Marc Lim,et al.  How to conduct a bibliometric analysis: An overview and guidelines , 2021 .

[14]  N. Foss,et al.  Business model innovation: a review of the process-based literature , 2021, Journal of Management and Governance.

[15]  Abdalwali Lutfi,et al.  Political connection, family ownership and corporate risk disclosure: empirical evidence from Jordan , 2021, Meditari Accountancy Research.

[16]  Ronald F. Piccolo,et al.  The Psychological Foundations of Management in Family Firms: Emotions, Memories, and Experiences , 2021 .

[17]  Alfredo De Massis,et al.  A Review of Conflict and Cohesion in Social Relationships in Family Firms , 2021, Entrepreneurship Theory and Practice.

[18]  S. Kraus,et al.  Thirty years of research in family business journals: Status quo and future directions , 2021 .

[19]  F. Chirico,et al.  Family firm internationalization: Past research and an agenda for the future , 2021, Journal of International Business Studies.

[20]  Ronald F. Piccolo,et al.  The Psychological Foundations of Management in Family Firms: Values, Biases, and Heuristics , 2021 .

[21]  S. Gold,et al.  The hidden side of sustainable operations and supply chain management: unanticipated outcomes, trade-offs and tensions , 2020, International Journal of Operations & Production Management.

[22]  James J. Chrisman,et al.  Narrow‐Framing and Risk Preferences in Family and Non‐Family Firms , 2020, Journal of Management Studies.

[23]  P. Picone,et al.  Past, ongoing, and future debate on the interplay between internationalization and digitalization , 2020, Journal of Management and Governance.

[24]  A. Calabrò,et al.  Entrepreneurial Orientation and Family Firm Performance: The Moderating Role of TMT Identity-Based and Knowledge-Based Faultlines , 2020 .

[25]  C. Salvato,et al.  Natural disasters as a source of entrepreneurial opportunity: Family business resilience after an earthquake , 2020 .

[26]  K. Hussainey,et al.  The joint effect of corporate risk disclosure and corporate governance on firm value , 2020, International Journal of Disclosure and Governance.

[27]  Markus Dick,et al.  Founder-Controlled Family Firms, Overconfidence, and Corporate Social Responsibility Engagement: Evidence From Survey Data , 2020 .

[28]  Wei Chen,et al.  Corporate governance and stock price crash risk: Evidence from Taiwan , 2020, Managerial and Decision Economics.

[29]  Azhar A. Rahman,et al.  Board of directors' characteristics and corporate risk disclosure: the moderating role of family ownership , 2020 .

[30]  Sascha Kraus,et al.  Ethics and entrepreneurship: A bibliometric study and literature review , 2019, Journal of Business Research.

[31]  M. Nordqvist,et al.  Growth intentions in family-based new venture teams , 2019, Management Decision.

[32]  L. Gómez-Mejia,et al.  CEO Risk-Taking and Socioemotional Wealth: The Behavioral Agency Model, Family Control, and CEO Option Wealth , 2019 .

[33]  Jannine Poletti-Hughes,et al.  Gender diversity on the board of directors and corporate risk: A behavioural agency theory perspective , 2019, International Review of Financial Analysis.

[34]  Wim Voordeckers,et al.  CEO Personality: A Different Perspective on the Nonfamily Versus Family CEO Debate , 2018, Family Business Review.

[35]  Alessandra Rigolini,et al.  The relationships between CEO characteristics and strategic risk-taking in family firms , 2018, Journal of Risk Research.

[36]  A. Majocchi,et al.  Not all family firms are equal: The moderating effect of family involvement on the political risk exposure of the foreign direct investment portfolio. Preliminary evidence from Spanish multinational enterprises , 2018, Thunderbird International Business Review.

[37]  Reinhard Prügl,et al.  Risky Decisions and the Family Firm Bias: An Experimental Study Based on Prospect Theory , 2018, Entrepreneurship Theory and Practice.

[38]  Max P. Leitterstorf,et al.  Risk Behavior of Family Firms: A Literature Review, Framework, and Research Agenda , 2018, The Palgrave Handbook of Heterogeneity among Family Firms.

[39]  L. Gómez-Mejia,et al.  Managerial Family Ties and Employee Risk Bearing in Family Firms: Evidence from Spanish Car Dealers , 2018 .

[40]  Remedios Hernández Linares,et al.  Entrepreneurial Orientation and the Family Firm: Mapping the Field and Tracing a Path for Future Research: , 2018 .

[41]  S. Zahra.  Entrepreneurial Risk Taking in Family Firms: The Wellspring of the Regenerative Capability , 2018 .

[42]  I. García‐Sánchez,et al.  Does family involvement monitor external CEOs’ investment decisions? , 2018, Review of Managerial Science.

[43]  Allison W. Pearson,et al.  Governance as a Source of Family Firm Heterogeneity , 2018 .

[44]  Todd M. Alessandri,et al.  The Mixed Gamble of Internationalization in Family and Nonfamily Firms: The Moderating Role of Organizational Slack , 2018 .

[45]  F. Frattini,et al.  Family firms in the global economy: Toward a deeper understanding of internationalization determinants, processes, and outcomes , 2018 .

[46]  M. Aria,et al.  bibliometrix: An R-tool for comprehensive science mapping analysis , 2017, J. Informetrics.

[47]  E. Lee,et al.  Family ownership and risk taking , 2017 .

[48]  F. López-Iturriaga,et al.  Corporate Risk-Taking, Returns and the Nature of Major Shareholders: Evidence from Prospect Theory , 2017 .

[49]  W. Schulze,et al.  Are Family Firms Good Employers , 2017 .

[50]  Balwinder Singh,et al.  Corporate Governance and Risk Reporting: Indian Evidence , 2017 .

[51]  C. Osunde.  Family Businesses and Its Impact on the Economy , 2017 .

[52]  A. Calabrò,et al.  Please do not disturb! Differentiating board tasks in family and non-family firms during financial distress , 2017 .

[53]  M. Massa,et al.  Family ownership, country governance, and foreign portfolio investment , 2017 .

[54]  Jonathan M. Williams,et al.  The effect of family control on value and risk-taking in Mexico: A socioemotional wealth approach , 2017, International Review of Financial Analysis.

[55]  Robert E. Hoskisson,et al.  Managerial Risk Taking , 2017 .

[56]  M. Aria,et al.  Foundations and trends in performance management. A twenty-five years bibliometric analysis in business and public administration domains , 2016, Scientometrics.

[57]  C. Dibrell,et al.  Long–Term Orientation in Publicly Traded Family Businesses: Evidence of a Dominant Logic , 2016 .

[58]  S. Goel,et al.  Entrepreneurial Exploration and Exploitation in Family Business , 2016 .

[59]  Sabri Boubaker,et al.  Multiple Large Shareholders and Corporate Risk-Taking: Evidence from French Family Firms , 2015 .

[60]  T. Bassetti,et al.  Family businesses in Eastern European countries: How informal payments affect exports , 2015 .

[61]  K. Keasey,et al.  Young family firms: Financing decisions and the willingness to dilute control , 2015 .

[62]  Johan A. Wallin,et al.  The bibliometric analysis of scholarly production: How great is the impact? , 2015, Scientometrics.

[63]  Raj V. Mahto,et al.  Satisfaction with Past Financial Performance, Risk Taking, and Future Performance Expectations in the Family Business , 2015 .

[64]  Riki Takeuchi,et al.  Managing the Risks of Proactivity: A Multilevel Study of Initiative and Performance in the Middle Management Context , 2015 .

[65]  Franz W. Kellermanns,et al.  What Makes a Family Firm Innovative? CEO Risk-Taking Propensity and the Organizational Context of Family Firms† , 2015 .

[66]  S. Sciascia,et al.  Family Ownership and R&D Intensity in Small‐ and Medium‐Sized Firms , 2015 .

[67]  P. Heugens,et al.  What do we know about Private Family Firms? A Meta–Analytical Review , 2015 .

[68]  Ivan Zupic,et al.  Bibliometric Methods in Management and Organization , 2014 .

[69]  A. Calabrò,et al.  The Internationalization of Family Firms , 2014 .

[70]  J. Silva,et al.  Family-owned and non family-owned SMEs: empirical evidence of survival determinants , 2014 .

[71]  Alfredo De Massis,et al.  Strategic reference points in family firms , 2014 .

[72]  S. Carter,et al.  Kinship and business: how entrepreneurial households facilitate business growth , 2014 .

[73]  Brian R. Chabowski,et al.  A bibliometric analysis of the global branding literature and a research agenda , 2013 .

[74]  Wim Voordeckers,et al.  Entrepreneurial Risk Taking of Private Family Firms , 2013 .

[75]  Birger Hjørland,et al.  Facet analysis: The logical approach to knowledge organization , 2013, Inf. Process. Manag..

[76]  Martin R. W. Hiebl,et al.  Risk aversion in family firms: what do we really know? , 2012 .

[77]  Carmelo Cennamo,et al.  Socioemotional Wealth and Proactive Stakeholder Engagement: Why Family–Controlled Firms Care More about their Stakeholders , 2012 .

[78]  Pankaj C. Patel,et al.  Variations in R&D Investments of Family and Nonfamily Firms: Behavioral Agency and Myopic Loss Aversion Perspectives , 2012 .

[79]  Ronald C. Anderson,et al.  Investment policy in family controlled firms , 2012 .

[80]  Allison W. Pearson,et al.  Family Involvement, Family Influence, and Family–Centered Non–Economic Goals in Small Firms , 2012 .

[81]  Luis R. Gomez-Mejia,et al.  Socioemotional Wealth in Family Firms , 2012 .

[82]  Lanfeng Kao,et al.  Corporate governance in Taiwan: The nonmonotonic relationship between family ownership and dividend policy , 2012 .

[83]  J. Block,et al.  R&D Investments in Family and Founder Firms: An Agency Perspective , 2012 .

[84]  Julio O. De Castro,et al.  The Bind that Ties: Socioemotional Wealth Preservation in Family Firms , 2011 .

[85]  Danny Miller,et al.  Stewardship or Agency? A Social Embeddedness Reconciliation of Conduct and Performance in Public Family Businesses , 2011, Organ. Sci..

[86]  James J. Chrisman,et al.  Transaction Costs and Outsourcing Decisions in Small- and Medium-Sized Family Firms , 2011 .

[87]  Maria J. Sanchez-Bueno,et al.  The Impact of Family Involvement on the R&D Intensity of Publicly Traded Firms , 2011 .

[88]  L. Stanley.  Emotions and Family Business Creation: An Extension and Implications , 2010 .

[89]  Narjess Boubakri,et al.  Control/ownership structure, creditor rights protection, and the cost of debt financing: International evidence , 2010 .

[90]  G. T. Lumpkin,et al.  Long-term orientation: Implications for the entrepreneurial orientation and performance of family businesses , 2010 .

[91]  L. Gómez-Mejia,et al.  Socioemotional Wealth and Corporate Responses to Institutional Pressures: Do Family-Controlled Firms Pollute Less? , 2010 .

[92]  Ana M. Moreno,et al.  A Configurational Approach of the Relationship Between Entrepreneurial Orientation and Growth of Family Firms , 2010 .

[93]  D. Margaritis,et al.  Capital structure, equity ownership and firm performance , 2010 .

[94]  Luis R. Gomez-Mejia,et al.  Perceptions of Benevolence and the Design of Agency Contracts: CEO-TMT Relationships in Family Firms , 2010 .

[95]  Marianna Makri,et al.  Diversification Decisions in Family-Controlled Firms , 2010 .

[96]  J. Hartley,et al.  Organizational Learning and Knowledge in Public Service Organizations: A Systematic Review of the Literature , 2009 .

[97]  Hsiang-Lan Chen,et al.  Family Ownership, Board Independence, and R&D Investment , 2009 .

[98]  S. Zahra,et al.  Maximizing the Impact of Organization Science: Theory-Building at the Intersection of Disciplines And/Or Fields , 2009 .

[99]  Isabelle Le Breton-Miller,et al.  Family ownership and acquisition behavior in publicly-traded companies , 2009 .

[100]  Najah Attig,et al.  Multiple Large Shareholders, Control Contests, and Implied Cost of Equity , 2008 .

[101]  Daniel G. Bachrach,et al.  Scholarly Influence in the Field of Management: A Bibliometric Analysis of the Determinants of University and Author Impact in the Management Literature in the Past Quarter Century , 2008 .

[102]  Kimberly A. Eddleston,et al.  An Exploratory Study of Family Member Characteristics and Involvement: Effects on Entrepreneurial Behavior in the Family Firm , 2008 .

[103]  L. Gómez-Mejia,et al.  Socioemotional Wealth and Business Risks in Family-controlled Firms: Evidence from Spanish Olive Oil Mills , 2007 .

[104]  Thomas Zellweger,et al.  Time Horizon, Costs of Equity Capital, and Generic Investment Strategies of Firms , 2007 .

[105]  Johan Wiklund,et al.  Entrepreneurial Orientation, Risk Taking, and Performance in Family Firms , 2007 .

[106]  David G. Sirmon,et al.  *The Development of Organizational Social Capital: Attributes of Family Firms , 2007 .

[107]  R. Thorpe,et al.  Using Knowledge within Small and Medium-Sized Firms: A Systematic Review of the Evidence , 2005 .

[108]  Martin Weber,et al.  Investment Decisions and Time Horizon: Risk Perception and Risk Behavior in Repeated Gambles , 2005, Manag. Sci..

[109]  Shaker A. Zahra,et al.  Entrepreneurial Risk Taking in Family Firms , 2005 .

[110]  Belen Villalonga,et al.  How Do Family Ownership, Control, and Management Affect Firm Value? , 2004 .

[111]  Shaker A. Zahra,et al.  Entrepreneurship in Family vs. Non–Family Firms: A Resource–Based Analysis of the Effect of Organizational Culture , 2004 .

[112]  Ronald C. Anderson,et al.  Board Composition: Balancing Family Influence in S&P 500 Firms , 2004 .

[113]  Melissa L. Finucane,et al.  Risk as Analysis and Risk as Feelings: Some Thoughts about Affect, Reason, Risk, and Rationality , 2004, Risk analysis : an official publication of the Society for Risk Analysis.

[114]  Ronald C. Anderson,et al.  Founding‐Family Ownership, Corporate Diversification, and Firm Leverage* , 2003, The Journal of Law and Economics.

[115]  W. Lim,et al.  Family Business Succession: Appropriation Risk and Choice of Successor , 2003 .

[116]  J. Astrachan,et al.  Commentary on the Special Issue: The Emergence of a Field , 2003 .

[117]  M. Lubatkin,et al.  Toward a theory of agency and altruism in family firms , 2003 .

[118]  S. Zahra.  International expansion of U.S. manufacturing family businesses: the effect of ownership and involvement , 2003 .

[119]  Bernard Yeung,et al.  Agency Problems in Large Family Business Groups , 2003 .

[120]  David G. Sirmon,et al.  Managing Resources: Linking Unique Resources, Management, and Wealth Creation in Family Firms , 2003 .

[121]  Ronald C. Anderson,et al.  Founding-Family Ownership and Firm Performance: Evidence from the S&P 500 , 2003 .

[122]  L. Gómez-Mejia,et al.  The Determinants of Executive Compensation in Family-Controlled Public Corporations , 2003 .

[123]  G. Haynes,et al.  Attitude toward Risk and Risk-Taking Behavior of Business-Owning Families , 2001 .

[124]  M. Lubatkin,et al.  Agency Relationships in Family Firms: Theory and Evidence , 2001 .

[125]  L. Gómez-Mejia,et al.  The Role of Family Ties in Agency Contracts , 2001 .

[126]  Henk F. Moed,et al.  Integrating research performance analysis and science mapping , 1999, Scientometrics.

[127]  James J. Chrisman,et al.  Defining the Family Business by Behavior , 1999 .

[128]  T. Habbershon,et al.  A Resource-Based Framework for Assessing the Strategic Advantages of Family Firms , 1999 .

[129]  Andrei Shleifer,et al.  Corporate Ownership Around the World , 1998 .

[130]  P. Bromiley,et al.  Toward a Model of Risk in Declining Organizations: An Empirical Examination of Risk, Performance and Decline , 1996 .

[131]  A. V. D. Ven,et al.  Explaining Development and Change in Organizations , 1995 .

[132]  Jean Pierre Courtial,et al.  Co-word analysis as a tool for describing the network of interactions between basic and technological research: The case of polymer chemsitry , 1991, Scientometrics.

[133]  Ortwin Renn,et al.  The Social Amplification of Risk: A Conceptual Framework , 1988 .

[134]  J. March,et al.  Managerial perspectives on risk and risk taking , 1987 .

[135]  E. Fama,et al.  Separation of Ownership and Control , 1983, The Journal of Law and Economics.

[136]  M. C. Jensen,et al.  Harvard Business School; SSRN; National Bureau of Economic Research (NBER); European Corporate Governance Institute (ECGI); Harvard University - Accounting & Control Unit , 1976 .

[137]  A. Young.  Prospect Theory: An Analysis of Decision Under Risk (Kahneman and Tversky, 1979) , 2011 .

[138]  W. Tsai,et al.  Corporate diversification and CEO turnover in family businesses: self-entrenchment or risk reduction? , 2009 .

[139]  S. Kozlowski,et al.  A multilevel approach to theory and research in organizations: Contextual, temporal, and emergent processes. , 2000 .

[140]  Ortwin Renn,et al.  The role of risk perception for risk management , 1998 .

[141]  Gregory G. Dess,et al.  Clarifying the Entrepreneurial Orientation Construct and Linking It To Performance , 1996 .

[142]  Amy L. Pablo,et al.  Reconceptualizing the Determinants of Risk Behavior , 1992 .

[143]  J. G. Holmes.  Trust and the appraisal process in close relationships. , 1991 .