Resource Configuration in Family Firms: Linking Resources, Strategic Planning and Environmental Dynamism to Performance

Abstract

In this study, family firms are studied from a resource-based view (RBV), examining how both technological resources and altruism contribute to family firm performance.The literature on RBV is presented, as are four hypotheses based on the RBV assets of technology, family, strategic planning, and environmental dynamism. Using a questionnaire survey, data from 74 family businesses (n=126) that were on mailing lists at the family business centers of two universities were gathered.A multiple regression analysis was used to analyze the data. The data analysis significantly supported the positive relationship between both technological resources and altruism and family firm performance.The results also indicated a significant interaction between strategic planning and technological resources, as well as between environmental dynamism and altruism.The implications of these findings are discussed, as are areas of future research. (AKP)

Keywords: Environmental dynamism, Technological resources, Strategic planning, Market resources, Family firms, Altruism, Firm performance