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SSRN Electronic Journal
Article . 2005 . Peer-reviewed
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Characteristics of Successful Family Businesses

Authors: Gallo, Miguel A.; Cappuyns, Kristin;

Characteristics of Successful Family Businesses

Abstract

In response to the statistics showing high mortality among family businesses, this study looks at a group of Spanish family businesses (FBs) that have demonstrated an ability to grow and innovate. Typically, these FBs have gained prestige in the Spanish economy not only because they have reached the top 1000, but also because they have stayed there for over 30 years. We collected data from interviews with the managers of 21 of the 64 companies that fulfilled both these conditions. Our aim was to learn from these successful business leaders what, in their personal opinion, had been the driving force behind their firms' success. The factors they mentioned included a set of values that successful business families have made a way of life. They are what we have called the ELISA values. These values are the bedrock of these firms' culture, inspiring top performance, reducing the cost of capital, and resolving other related issues that are made easy to deal with by adherence to these values.

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Keywords

family business; success factors; business culture;

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    popularity
    This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
    Average
    influence
    This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
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    impulse
    This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
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Found an issue? Give us feedback
selected citations
These citations are derived from selected sources.
This is an alternative to the "Influence" indicator, which also reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Citations provided by BIP!
popularity
This indicator reflects the "current" impact/attention (the "hype") of an article in the research community at large, based on the underlying citation network.
BIP!Popularity provided by BIP!
influence
This indicator reflects the overall/total impact of an article in the research community at large, based on the underlying citation network (diachronically).
BIP!Influence provided by BIP!
impulse
This indicator reflects the initial momentum of an article directly after its publication, based on the underlying citation network.
BIP!Impulse provided by BIP!
7
Average
Top 10%
Average
bronze