Achieving Sustained Competitive Advantage: A Family Capital Theory

11 Pages Posted: 12 Jun 2006

See all articles by James Hoffman

James Hoffman

Texas Tech University - Area of Management

Mark Hoelscher

Illinois State University - Institute for Entrepreneurial Studies

Ritch Sorenson

Texas Tech University - Area of Management

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Abstract

Although it has been long asserted that family businesses hold advantages over nonfamily businesses, to date, there have been very few theories developed as to exactly why family businesses hold competitive advantages over nonfamily businesses. This article introduces the concept of family capital and proposes that family capital has potential impact on business performance. Specifically, this article suggests that family businesses with high levels of family capital possibly do hold a sustained competitive advantage over family businesses with low levels of family capital and/or nonfamily businesses.

Suggested Citation

Hoffman, James and Hoelscher, Mark and Sorenson, Ritch, Achieving Sustained Competitive Advantage: A Family Capital Theory. Family Business Review, Vol. 19, No. 2, pp. 135-145, June 2006, Available at SSRN: https://ssrn.com/abstract=907699 or http://dx.doi.org/10.1111/j.1741-6248.2006.00065.x

James Hoffman (Contact Author)

Texas Tech University - Area of Management ( email )

United States

Mark Hoelscher

Illinois State University - Institute for Entrepreneurial Studies ( email )

Normal, IL 61761
United States

Ritch Sorenson

Texas Tech University - Area of Management ( email )

United States
806- 742-2173 (Phone)
806- 742-2308 (Fax)

HOME PAGE: http://management.ba.ttu.edu/Faculty/RSorenson.htm

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