Hostname: page-component-cd9895bd7-7cvxr Total loading time: 0 Render date: 2024-12-28T13:01:40.913Z Has data issue: false hasContentIssue false
  • English
  • Français

The distinctiveness of family-firm intangibles: A review and suggestions for future research

Published online by Cambridge University Press:  02 February 2015

Jolien Huybrechts ,
Wim Voordeckers ,
Nadine Lybaert  and
Sigrid Vandemaele
Jolien Huybrechts
Affiliation:
KIZOK – Center for Entrepreneurship and Innovation, Hasselt University, Diepenbeek, Belgium
Wim Voordeckers
Affiliation:
KIZOK – Center for Entrepreneurship and Innovation, Hasselt University, Diepenbeek, Belgium
Nadine Lybaert
Affiliation:
KIZOK – Center for Entrepreneurship and Innovation, Hasselt University, Diepenbeek, Belgium
Sigrid Vandemaele
Affiliation:
KIZOK – Center for Entrepreneurship and Innovation, Hasselt University, Diepenbeek, Belgium
Get access Rights & Permissions [Opens in a new window]

Abstract

We review the theoretical and empirical literature on the resource-based view in the context of family businesses using a framework of intangible resources. This approach allows us to structure the present research on value-adding resources in family firms into four clearly distinct groups – organizational culture, reputation, human capital and networks – and provides us with the opportunity to examine the interactions of these intangible resources. We use these relationships to offer a future research agenda that is focused on the creation of competitive advantage through the combination and recombination of these resources.

Keywords

family business researchresource-based viewintangiblesorganizational culturereputationhuman capitalnetworks
Type
Research Article
Information
Journal of Management & Organization , Volume 17 , Issue 2 , March 2011 , pp. 268 - 287
Copyright
Copyright © Cambridge University Press and Australian and New Zealand Academy of Management 2011

Access options

Get access to the full version of this content by using one of the access options below. (Log in options will check for institutional or personal access. Content may require purchase if you do not have access.)

References

Abrams, L. C., Cross, R., Lesser, E., & Levin, D. Z. (2003). Nurturing interpersonal trust in knowledge-sharing networks. Academy of Management Executive, 17(4), 64–77.Google Scholar
Anderson, R., & Reeb, D. (2003). Founding-family ownership and firm performance: Evidence from the S&P 500. Journal of Finance, 58(3), 1301–1328.Google Scholar
Anderson, A. R., Jack, S. L., & Dodd, S. D. (2005). The role of family members in entrepreneurial networks: Beyond the boundaries of the family firm. Family Business Review, 18(2), 135–154.Google Scholar
Armstrong, G. E., & Shimizu, K. (2007). A review of approaches to empirical research on the resource-based view of the firm. Journal of Management, 33(6), 959–986.Google Scholar
Aronoff, C. E., & Ward, J. L. (1995). Family-ownership business: A thing of the past or a model for the future. Family Business Review, 8(2), 121–130.Google Scholar
Arrègle, J., Hitt, M. A., Sirmon, D. G., & Very, P. (2007). The development of organizational social capital: Attributes of family firms. Journal of Management Studies, 44(1), 73–95.Google Scholar
Barney, J. (1986). Organizational culture: Can it be a source of sustained competitive advantage? Academy of Management Review, 11(3), 656–665.Google Scholar
Barney, J. (1991). Firm resources and sustained competitive advantage. Journal of Management, 17(1), 99–120.Google Scholar
Barontini, R., & Caprio, L. (2006). The effect of family control on firm value and performance: Evidence from continental Europe. European Financial Management, 12(5), 689–723.Google Scholar
Bennedsen, M., Nielsen, K. M., Perez-Gonzalez, F., & Wolfenzon, D. (2007). Inside the family firm: The role of families in succession decisions and performance. The Quarterly Journal of Economics, 122(2), 647–691.Google Scholar
Beugelsdijk, S., Noorderhaven, N. G., & Koen, C. I. (2006). Organizational culture and relationship skills. Organization Studies, 27(6), 833–854.Google Scholar
Bloom, N., & Van Reenen, J. (2007). Measuring and explaining management practices across firms and countries. Quarterly Journal of Economics, 122(4), 1351–1408.Google Scholar
Burt, R. S. (1997). The contingent value of social capital. Administrative Science Quarterly, 42(2), 339–365.Google Scholar
Cabrera-Suárez, K., Saá-Pérez, D., & García-Almeida, D. (2001). The succession process from a resource- and knowledge-based view of the family firm. Family Business Review, 14(1), 37–47.Google Scholar
Canibano, L., Covarsi, M. G., & Sánchez, M. P. (1999). The value relevance and managerial implications of intangibles: A literature review, international symposium: Measuring and reporting intellectual capital: Experiences, issues, and prospects. 9–10 June, OECD, Amsterdam.Google Scholar
Carmeli, A. (2004). Assessing core intangible resources. European Management Journal, 22(1), 110–122.Google Scholar
Chang, E. P. C., Memili, E., Chrisman, J. J., Kellermanns, F. W., & Chua, J. H. (2009). Family social capital, venture preparedness, and start-up decisions. Family Business Review, 22(3), 279–292.Google Scholar
Chrisman, J. J., Chua, J. H., & Steier, L. (2005). Sources and consequences of distinctive familiness: An introduction. Entrepreneurship: Theory and Practice, 29(3), 237–247.Google Scholar
Coleman, J. S. (1988). Social capital in the creation of human capital. American Journal of Sociology, 94(1), 95–120.Google Scholar
Cooper, M. J., Upton, N., & Seaman, S. (2005). Customer relationship management: A competitive analysis of family and nonfamily business practices. Journal of Small Business Management, 43(3), 242–256.Google Scholar
Covin, T. J. (1994a). Perceptions of family-owned firms: The impact of gender and educational level. Journal of Small Business Management, 32(3), 29–39.Google Scholar
Covin, T. J. (1994b). Profiling preferences for employment in family-owned firms. Family Business Review, 7(3), 287–296.Google Scholar
Craig, J. B., Dibrell, C., & Davis, P. S. (2008). Leveraging family-based brand identity to enhance firm competitiveness and performance in family businesses. Journal of Small Business Management, 46(3), 351–371.Google Scholar
Craig, J. B., Moores, K., Howorth, C., & Poutziouris, P. (2009). Family business research at a tipping point threshold. Journal of Management and Organization, 15(3), 282–293.Google Scholar
Davis, J. H., Schoorman, F. D., & Donaldson, L. (1997). Toward a stewardship theory of management. Academy of Management Review, 22(1), 20–47.Google Scholar
Denison, D., Lief, C., & Ward, J. L. (2004). Culture in family-owned enterprises: Recognizing and leveraging unique strengths. Family Business Review, 17(1), 61–70.Google Scholar
DeNoble, A., Ehrlich, S., & Singh, G. (2007). Toward the development of a family business self-efficacy scale: A resource-based perspective. Family Business Review, 20(2), 127–140.Google Scholar
Dobrzynski, J. H. (1993). Relationship investing. Business Week, 42(2), 93–105.Google Scholar
Dollinger, M. J., Golden, P. A., & Saxton, T. (1997). The effect of reputation on the decision to joint venture. Strategic Management Journal, 18(2), 127–140.Google Scholar
Donnelly, R. (1964). The family business. Harvard Business Review, 42(2), 93–105.Google Scholar
Dunn, B. (1995). Success themes in Scottish family enterprises: Philosophies and practices through the generations. Family Business Review, 8(1), 17–28.Google Scholar
Dyer, J. H., & Singh, H. (1998). The relational view: Cooperative strategy and sources of interorganizational competitive advantage. Academy of Management Review, 23(4), 660–679.Google Scholar
Dyer, J. H., Kale, P., & Singh, H. (2001). How to make strategic alliances work. Sloan Management Review, 42(4), 37–43.Google Scholar
Dyer, W. G. (2006). Examining the “family effect” on firm performance. Family Business Review, 19(4), 253–273.Google Scholar
Dyer, W. G., & Whetten, D. A. (2006). Family firms and social responsibility: Preliminary evidence from the S&P 500. Entrepreneurship: Theory and Practice, 30(6), 785–802.Google Scholar
Eddleston, A. K., Kellermanns, W., & Sarathy, R.(2008). Resource configuration in family firms: Linking resources, strategic planning and technological opportunities to performance. Journal of Management Studies, 45(1), 26–50.Google Scholar
Fomburn, C. J., & Shanley, M. (1990). What's a name? Reputation building and corporate strategy. Academy of Management Journal, 33(2), 233–258.Google Scholar
Fombrun, C. J. (1996). Reputation: Realizing value from the corporate image. Boston: Harvard Business School.Google Scholar
Gedajlovic, E., Lubatkin, M. H., & Schulze, W. S. (2004). Crossing the threshold from founder management to professional management: A governance perspective. Journal of Management Studies, 41(5), 899–912.Google Scholar
Gibbert, M. (2006). Generalizing about uniqueness: An essay on an apparent paradox in the resource-based view. Journal of Management Inquiry, 15(2), 124–134.Google Scholar
Glückler, J., & Armbrüster, T. (2003). Bridging uncertainty in management consulting: The mechanisms of trust and networked reputation. Organization Studies, 24(2), 269–297.Google Scholar
Goffee, R., & Scase, R. (1985). Proprietorial control in family firms: Some functions of ‘quasi-organic’ management systems. Journal of Management Studies, 22(1), 53–68.Google Scholar
Gómez-Mejía, L. R., Núñez-Nickel, M., & Gutierrez, I. (2001). The role of family ties in agency contracts. Academy of Management Journal, 44(1), 81–95.Google Scholar
Gómez-Mejía, L. R., Haynes, K. T., Núñez-Nickel, M., Jacobson, K. J. L., & Moyano-Fuentes, J. (2007). Socioemotional wealth and business risks in family-controlled firms: Evidence from Spanish olive oil mills. Administrative Science Quarterly, 52(1), 106–137.Google Scholar
Gulati, R. (1995). Does familiarity breed trust? The implications of repeated ties for contractual choice in alliances. Academy of Management Journal, 38(1), 85–112.Google Scholar
Guthrie, J. (2001). The management, measurement and the reporting of intellectual capital. Journal of Intellectual Capital, 2(1), 27–41.Google Scholar
Haanes, K., & Lowendahl, B. (1997). The unit of activity: Towards an alternative to the theories of the firm. In Thomas, H., O'Neal, D., & Ghertman, M. (Eds.), Strategy, structure and style (pp. 201–218). Chichester: John Wiley.Google Scholar
Haanes, K., & Fjeldstad, Ø. (2000). Linking intangible resources and competition. European Management Journal, 18(1), 52–62.Google Scholar
Habbershon, T. G., & Williams, M. L. (1999). A resource-based framework for assessing strategic advantages of family firms. Family Business Review, 12(1), 1–22.Google Scholar
Habbershon, T. G., Williams, M., & MacMillan, I. C. (2003). A unified perspective of family firm performance. Journal of Business Venturing, 18(4), 451–465.Google Scholar
Hahn, E. D., & Doh, J. P. (2006). Using Bayesian methods in strategy research: An extension of Hansen et al. Strategic Management Journal, 27(8), 783–798.Google Scholar
Hall, R. (1992). The strategic analysis of intangible resources. Strategic Management Journal, 13(2), 135–144.Google Scholar
Hall, R. (1993). A framework linking intangible resources and capabilities to sustainable competitive advantage. Strategic Management Journal, 14(8), 607–618.Google Scholar
Hall, A., Melin, L., & Nordqvist, M. (2001). Entrepreneurship as radical change in the family business: Exploring the role of culture patterns. Family Business Review, 14(3), 193–208.Google Scholar
Hansen, M. H., Perry, L. T., & Reese, C. H. (2004). A Bayesian operationalization of the resource-based view. Strategic Management Journal, 25(13), 1279–1295.Google Scholar
Harel, G. H., & Tzafrir, S. S. (2004). The effect of human resource management practices on the perceptions of organizational and market performance of the firm. Human Resource Management, 38(3), 185–200.Google Scholar
Hitt, M. A., Bierman, L., Shimizu, K., & Kochhar, R. (2001a). Direct and moderating effects of human capital on strategy and performance in professional service firms: A resource-based perspective. Academy of Management, 44(1), 13–28.Google Scholar
Hitt, M. A., Ireland, R. D., Camp, S. M., & Sexton, D. L. (2001b). Strategic entrepreneurship: Entrepreneurial strategies for wealth creation. Strategic Management Journal, 22(6–7), 479–491.Google Scholar
Hoffman, J., Hoelscher, M., & Sorenson, R. (2006). Achieving sustained competitive advantage: A family capital theory. Family Business Review, 14(2), 135–145.Google Scholar
Hofstede, G. (1980). Cultures' consequences: International differences in work related values. Beverly Hills, CA: Sage.Google Scholar
Hoover, E. A., & Hoover, C. L. (1999). What you see ahead. Family Business Magazine, 11(4), 31–34.Google Scholar
Horton, T. P. (1986). Managing in a family way. Management Review, 75(2), 3.Google Scholar
Itami, H. (1987). Mobilizing invisible assets. Cambridge, MA: Harvard University Press.Google Scholar
Jack, S. L. (2005). The role, use and activation of strong and weak network ties: A qualitative analysis. Journal of Management Studies, 42(6), 1233–1259.Google Scholar
James, H. S. Jr. (1999). Owner as manager, extended horizons and the family firm. International Journal of Economics and Business, 6(1), 41–55.Google Scholar
Johanson, U., Mårtensson, M., & Skoog, M. (2001). Mobilizing change through the management control of intangibles. Accounting, Organizations and Society, 26(7–8), 715–733.Google Scholar
Kellermanns, F. W., & Eddleston, K. A. (2007). A family perspective on when conflict benefits family firm. Journal of Business Research, 60(10), 1048–1057.Google Scholar
La Porta, R., Lopez-De-Silanes, F., & Shleifer, A. (1999). Corporate ownership around the world. The Journal of Finance, 54(2), 471–517.Google Scholar
Le Breton-Miller, I., & Miller, D. (2006). Why do some family businesses out-compete? Governance, long-term orientations, and sustainable capability. Entrepreneurship: Theory and Practice, 30(6), 731–746.Google Scholar
Lee, J. (2006). Family firm performance: Further evidence. Family Business Review, 19(2), 103–114.Google Scholar
Levie, J., & Lerner, M. (2009). Resource mobilization and performance in family and nonfamily businesses in the United Kingdom. Family Business Review, 22(1), 25–38.Google Scholar
Lockett, A., Thompson, S., & Morgenstern, U. (2009). The development of the resource-based view of the firm: A critical appraisal. International Journal of Management Reviews, 11(1), 9–28.Google Scholar
Lubatkin, M., Schulze, W., Ling, Y., & Dino, R. (2005). The effects of parental altruism on the governance of family-managed firms. Journal of Organizational Behaviour, 26(3), 313–330.Google Scholar
Lubatkin, M. H., Durand, R., & Ling, Y. (2007). The missing lens in family firm governance theory: A self-other typology of parental altruism. Journal of Business Research, 60(10), 1022–1029.Google Scholar
McConaughy, D. L., Matthews, C. H., & Fialko, A. S. (2001). Founding family controlled firms: Performance, risk, and value. Journal of Small Business Management, 39(1), 31–49.Google Scholar
Michalisin, M. D., Smith, R. D., & Douglas, M. K. (1997). In search of strategic assets. The International Journal of Organizational Analysis, 5(4), 360–387.Google Scholar
Miller, D., & Le Breton-Miller, I. (2003). The challenges and advantages of family business. Strategic Organization, 1(1), 127–134.Google Scholar
Miller, D., & Le Breton-Miller, I. (2006a). Family governance and firm performance: Agency, stewardship, and capabilities. Family Business Review, 14(1), 73–87.Google Scholar
Miller, D., & Le Breton-Miller, I. (2006b). Priorities, practices and strategies in successful and failing family businesses: An elaboration and test of the configuration perspective. Strategic Organization, 4(4), 379–407.Google Scholar
Miller, D., Le Breton-Miller, I., Lester, R. H., & Cannella, A. A. (2007). Are family firms really superior performers? Journal of Corporate Finance, 13(5), 829–858.Google Scholar
Muller, P., & Pénin, J. (2006). Why do firms disclose knowledge and how does it matter? Journal of Evolutionary Economics, 16(1–2), 85–108.Google Scholar
Nahapiet, J., & Ghoshal, S. (1998). Social capital, intellectual capital, and the organizational advantage. Academy of Management Review, 23(2), 242–266.Google Scholar
Newbert, S. L. (2007). Empirical research on the resource-based view of the firm: An assessment and suggestions for future research. Strategic Management Journal, 28(2), 121–146.Google Scholar
Niemelä, T. (2004). Interfirm cooperation capability in the context of networking family firms: The role of power. Family Business Review, 17(4), 319–330.Google Scholar
OECD. (1992). Technology and the economy. The key relationships. Paris: The Technology/Economy Program.Google Scholar
Penrose, E. T. (1959). The theory of the growth of the firm. New York: John Wiley & Sons.Google Scholar
Peters, T. J., & Waterman, R. H. (1982). In search of excellence. New York: Harper and Row.Google Scholar
Petrash, G. (1996). Dow's journey to a knowledge value management culture. European Management Journal, 14(4), 365–373.Google Scholar
Post, J. E. (1993). The greening of the park plaza hotel. Family Business Review, 6(2), 131–148.Google Scholar
Poza, E. J., Hanlon, S., & Kishida, R. (2004). Does the family business interaction factor represent a resource or a cost? Family Business Review, 17(2), 99–118.Google Scholar
Poza, E. J. (2007). Family business (2nd ed.). Mason, OH: Thompson South Western.Google Scholar
Prahalad, C. K., & Hamel, G. (1990). The core competence of the corporation. Harvard Business Review, 68(3), 79–91.Google Scholar
Salvato, C., & Melin, L. (2008). Creating value across generations in family-controlled businesses: The role of family social capital. Family Business Review, 21(3), 259–276.Google Scholar
Schein, E. H. (1983). The role of the founder in creating organizational culture. Organizational Dynamics, 12(1), 13–28.Google Scholar
Schein, E. H. (1985). Organizational culture and leadership. San Francisco: Jossey-Bass.Google Scholar
Schulze, W. S., Lubatkin, M. H., Dino, R. N., & Buchholtz, A. K. (2001). Agency relationships in family firms: Theory and evidence. Organization Science, 12(2), 99–116.Google Scholar
Schulze, W. S., Lubatkin, M. H., & Dino, R. N. (2002). Altruism, agency, and the competitiveness of family firms. Managerial and Decision Economics, 23(4–5), 247–259.Google Scholar
Schulze, W. S., Lubatkin, M. H., & Dino, R. N. (2003). Exploring the agency consequences of ownership dispersion among the directors of private family firms. Academy of Management Journal, 46(2), 179–194.Google Scholar
Shane, S., & Cable, D. (2002). Network ties, reputation, and the financing of new ventures. Management Science, 48(3), 364–381.Google Scholar
Sharma, P., Chrisman, J. J., & Chua, J. H. (1997). Strategic management of the family business: Past research and future challenges. Family Business Review, 10(1), 1–34.Google Scholar
Short, J. C., Payne, G. T., Brigham, K. H., Lumpkin, G. T., & Broberg, J. C. (2009). Family firms and entrepreneurial orientation in publicly traded firms: A comparative analysis of the S&P 500. Family Business Review, 22(1), 9–24.Google Scholar
Sirmon, D. G., & Hitt, M. A. (2003). Managing resources: Linking unique resources, management, and wealth creation in family firms. Entrepreneurship: Theory and Practice, 27(4), 339–358.Google Scholar
Sirmon, D. G., Arrègle, J., Hitt, M. A., & Webb, W. J. (2008). The role of family influence in firms' strategic responses to threat of imitation. Entrepreneurship: Theory and Practice, 32(9), 979–998.Google Scholar
Sorenson, R. L., Goodpaster, K. E., Hedberg, P. R., & Yu, A. (2009). The family point of view, family social capital, and firm performance. Family Business Review, 22(3), 239–253.Google Scholar
Steier, L. (2001). Next-generation entrepreneurs and succession: An exploratory study of modes and means of managing social capital. Family Business Review, 14(3), 259–276.Google Scholar
Tagiuri, R., & Davis, J. A. (1996). Bivalent attributes of the family firm. Family Business Review, 9(2), 199–208.Google Scholar
Teece, D. J. (1992). Foreign investment and technological development in Silicon Valley. California Management Review, 34(2), 88–106.Google Scholar
Teece, D. J., Pisano, G., & Shuen, A. (1997). Dynamic capabilities and strategic management. Strategic Management Journal, 18(7), 509–533.Google Scholar
Thomas, J. (2009). Attitudes and expectations of shareholders: The case of the multi-generation family business. Journal of Management and Organization, 15(3), 346–362.Google Scholar
Tokarczyk, J., Hansen, E., Green, M., & Down, J. (2007). A resource-based view and market orientation theory examination of the role of “familiness” in family business success. Family Business Review, 20(1), 17–31.Google Scholar
Turban, D. B., & Cable, D. M. (2003). Firm reputation and applicant pool characteristics. Journal of Organizational Behavior, 24(6), 733–751.Google Scholar
Villalonga, B. (2000). Intangible resources, Tobin's Q, and sustainability of performance differences. Journal of Economic Behavior and Organization, 54(2), 205–230.Google Scholar
Villalonga, B., & Amit, R. (2006). How do family ownership, control and management affect firm value. Journal of Financial Economics, 80(2), 385–417.Google Scholar
Voordeckers, W., Steijvers, T., & Peeters, L. (2010). The ownership-performance relationship: Agency issues in private family firms. Paper presented at the Annual European Academy of Management (EURAM). Conference, 19–22 May, Rome, Italy.Google Scholar
Wang, I. M., Shieh, C. J., & Wang, F. J. (2008). Effect of human capital investment on organizational performance. Social Behavior and Personality, 36(8), 1011–1022.Google Scholar
Ward, J. L. (1987). Keeping the family business healthy: How to plan for continuous growth, profitability, and family leadership. San Francisco: Jossey-Bass.Google Scholar
Ward, J. L., & Aronoff, C. E. (1991a). The power of patient capital. Nation's Business, 79(9), 48–49.Google Scholar
Ward, J. L., & Aronoff, C. E. (1991b). Trust gives you the advantage. Nation's Business, 79(8), 42–45.Google Scholar
Ward, J. L. (2004). Perpetuating the family business: 50 lessons learned from long-lasting, successful families in business. Houndmills, UK: Macmillan.Google Scholar
Wernerfelt, B. (1984). A resource-based view of the firm. Strategic Management Journal, 5(2), 171–180.Google Scholar
Zahra, S. A., Hayton, J. C., & Salvato, C. (2004). Entrepreneurship in family vs. non-family firms: A resource-based analysis of the effect of organizational culture. Entrepreneurship: Theory and Practice, 28(4), 363–381.Google Scholar
Zahra, S. A., Hayton, J. C., Neubaum, D. O., Dibrell, C., & Craig, J. (2008). Culture of family commitment and strategic flexibility: The moderating effect of stewardship. Entrepreneurship: Theory and Practice, 32(9), 1035–1054.Google Scholar