The IRMA Community
Newsletters
Research IRM
Click a keyword to search titles using our InfoSci-OnDemand powered search:
|
The Sustainability of Resource-Sharing Family Business in Relation to Family Non-Economic Goals
Abstract
Small and medium family businesses have distinct characteristics that differ from large corporations, with distinct challenges to their owner-managers. Many entrepreneurial families seek to achieve non-economic goals and share familial resources without compensation, not necessarily maximization of their sustainable value. As a consequence, traditional financial reporting is of limited use to them, as it does not reflect their priorities. This article introduces sustainability elements in the socio-emotional-wealth theory; identifies a family business type called resource-sharing; proposes a financial ruleset to quantify the sustainable financial position of the company regarding the achievement of non-economic goals of the family; and introduces an integrated mechanism to identify strategic implications for both family and business. Concepts are applied to family businesses from three countries, to verify applicability and usefulness.
Related Content
Rehmat Shah, Rana Yassir Hussain, Hira Irshad.
© 2024.
21 pages.
|
Malik Waqar Ahmed, Haroon Hussain, Hammad Hassan Mirza, Ghulam Ali Bhatti.
© 2024.
17 pages.
|
Burak Nedim Aktaş.
© 2024.
23 pages.
|
Rani Jha, Sidharth Mishra, Avinash Sharma.
© 2024.
15 pages.
|
Tugçe Şimşek, Ahmet Bahadır Şimşek.
© 2024.
25 pages.
|
George Kassar.
© 2024.
15 pages.
|
Andi Cudai Nur, Komal Khalid.
© 2024.
19 pages.
|
|
|