Bayesian Methods in Family Business Research

24 Pages Posted: 20 Dec 2013

See all articles by Jorn H. Block

Jorn H. Block

University of Trier - Faculty of Management; Erasmus University Rotterdam (EUR) - Institute of Management (ERIM)

Danny Miller

HEC Montreal

Dominik Wagner

University of Trier - Faculty of Management

Date Written: December 18, 2013

Abstract

Bayesian methods constitute an alternative to null hypothesis significance testing (NHST). This article briefly reviews the concept of Bayesian methods, describes its differences with NHST, and discusses the potential of Bayesian methods to advance family business research and practice. We argue that Bayesian methods are well suited to take into account the significant heterogeneity that exists within the population of family firms. The article closes with a short guide for how to use Bayesian methods and report their results. The focus of the article is on regression models.

Keywords: Bayesian methods, null hypothesis significance testing, family business, research methods, regression models

JEL Classification: C11, C12, M13, G32

Suggested Citation

Block, Jorn Hendrich and Miller, Danny and Wagner, Dominik, Bayesian Methods in Family Business Research (December 18, 2013). Available at SSRN: https://ssrn.com/abstract=2369278 or http://dx.doi.org/10.2139/ssrn.2369278

Jorn Hendrich Block (Contact Author)

University of Trier - Faculty of Management ( email )

D-54296
Germany

Erasmus University Rotterdam (EUR) - Institute of Management (ERIM) ( email )

Burgemeester Oudlaan 50
3000 DR Rotterdam, Zuid-Holland 3062PA
Netherlands

Danny Miller

HEC Montreal ( email )

3000, Chemin de la Côte-Sainte-Catherine
Montreal, Quebec H2X 2L3 H3T 2A7
Canada

Dominik Wagner

University of Trier - Faculty of Management ( email )

15, Universitaetsring
Trier, 54286
Germany

HOME PAGE: http://www.uni-trier.de/index.php?id=3205

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