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Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/13972

Title: The Effect of Family Business Professionalization as a Multidimensional Construct on Firm Performance
Authors: Dekker, Julie
Lybaert, Nadine
Steijvers, Tensie
Depaire, Benoit
Issue Date: 2015
Citation: JOURNAL OF SMALL BUSINESS MANAGEMENT, 53(2), p. 516-538.
Abstract: In family business literature, business professionalization is often simplified into a binary characteristic, that is, the presence of a nonfamily manager. We contend that other professionalization features, which may act simultaneously, can influence firm performance. This study addresses professionalization as a multidimensional construct, as intended by general management literature, and assesses the impact on business performance based on these underlying dimensions. Using a representative sample of 523 private Belgian family businesses, we identify five different dimensions of the professionalization construct by means of an exploratory factor analysis. Further regression results revealed significant positive effects of increasing nonfamily involvement, implementing human resource control systems, and/or decentralizing authority on firm performance. However, nonfamily involvement only seems to improve firm performance if there is sufficient decentralization of authority and an average or even low amount of formal financial control systems.
Notes: [Dekker, Julie; Steijvers, Tensie; Depaire, Benoit] Hasselt Univ, Res Foundation Flanders FWO, B-3590 Diepenbeek, Belgium. [Dekker, Julie; Lybaert, Nadine; Steijvers, Tensie] Hasselt Univ, Ctr Entrepreneurship & Innovat KIZOK, B-3590 Diepenbeek, Belgium. [Lybaert, Nadine] Univ Antwerp, Antwerp, Belgium. [Depaire, Benoit] Hasselt Univ, Business Informat Res Grp, B-3590 Diepenbeek, Belgium.
URI: http://hdl.handle.net/1942/13972
DOI: 10.1111/jsbm.12082
ISI #: 000351468100013
ISSN: 0047-2778
Category: A1
Type: Journal Contribution
Validation: ecoom, 2016
vabb, 2015
Appears in Collections: Research publications

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