A Stakeholder Perspective on Family Firm Performance

14 Pages Posted: 10 Sep 2008

See all articles by Thomas Zellweger

Thomas Zellweger

University of St. Gallen - Center for Family Business; Babson College - Arthur M. Blank Center for Entrepreneurship

Robert S. Nason

Babson College - Arthur M. Blank Center for Entrepreneurship

Abstract

Through the lens of stakeholder theory, this article deepens our understanding of financial and nonfinancial performance outcomes in family firms across multiple stakeholder categories, including the family level of analysis. Based on this foundation, we develop a typology of performance relationships between performance outcomes: overlapping, causal, synergistic, and substitutional. We argue that these relationships, when used between constructive (positive) performance outcomes, are able to increase stakeholder satisfaction, which in turn increases organizational effectiveness. Through this analysis, we extend the common one-dimensional and cause-effect understanding of performance in family firms and move toward a comprehensive stakeholder performance perspective, which provides insights for increasing organizational effectiveness of family firms.

Suggested Citation

Zellweger, Thomas and Nason, Robert S., A Stakeholder Perspective on Family Firm Performance. Family Business Review, Vol. 21, Issue 3, pp. 203-216, September 2008, Available at SSRN: https://ssrn.com/abstract=1265281 or http://dx.doi.org/10.1111/j.1741-6248.2008.00123.x

Thomas Zellweger (Contact Author)

University of St. Gallen - Center for Family Business ( email )

Varnbuelstr. 14
Saint Gallen, St. Gallen CH-9000
Switzerland
+41 71 224 71 42 (Phone)
+41 71 224 71 01 (Fax)

HOME PAGE: http://www.kmu.unisg.ch/org/kmu/web.nsf/wwwPubPersonGer/90349757A26ABCBFC125716B0046D6EE

Babson College - Arthur M. Blank Center for Entrepreneurship

231 Forest Street
Babson Park, MA 02457-0310
United States

Robert S. Nason

Babson College - Arthur M. Blank Center for Entrepreneurship ( email )

231 Forest Street
Babson Park, MA 02457-0310
United States

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