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The Palgrave Handbook of Heterogeneity among Family Firms pp 507–530Cite as

Palgrave Macmillan

Family Values: Influencers in the Development of Financial and Non-financial Dynamics in Family Firms

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Abstract

The role of family values is considered here as one potential contributor to heterogeneity. The pursuit of profit as an end goal may be key for many family businesses, but there are well-documented cases of businesses where corporate citizenship and philanthropy are integral to the business model. Earlier work has highlighted that where one family has a predominant level of control in a business, their family values may assume greater importance and thereby be more likely to influence strategy. Within this chapter, we propose that the concentration of family values that occurs when one family has a predominant level of control within the business may be a key contributor to the development of financial and non-financial dynamics, representing one way in which strategy is developed and implemented.

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Notes

  1. 1.

    According to the Bank for International Settlements, in the reporting countries alone, there were approximately 374,780 million payment transactions by non-banks in 2015. Bank for International Settlements, CPMI-Red Book Statistical update, December 2016, pp. 445–547.

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Author information

Authors and Affiliations

  1. Queen Margaret University, Musselburgh, UK

    Claire Seaman & Richard Bent

  2. Glasgow Caledonian University, Glasgow, UK

    Mauricio Silva

Authors
  1. Claire Seaman
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  2. Richard Bent
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  3. Mauricio Silva
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Corresponding author

Correspondence to Richard Bent .

Editor information

Editors and Affiliations

  1. Bryan School of Business and Economics, University of North Carolina-Greensboro, Greensboro, NC, USA

    Esra Memili

  2. School of Business Administration, The University of Mississippi, University, MS, USA

    Clay Dibrell

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Seaman, C., Bent, R., Silva, M. (2019). Family Values: Influencers in the Development of Financial and Non-financial Dynamics in Family Firms. In: Memili, E., Dibrell, C. (eds) The Palgrave Handbook of Heterogeneity among Family Firms. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-77676-7_19

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