Family capital of family firms: Bridging human, social, and financial capital

Sharon M Danes, Kathryn Stafford, George Haynes, Sayali S. Amarapurkar

Research output: Contribution to journalArticlepeer-review

190 Scopus citations

Abstract

The purpose was to present a family capital typology based on Sustainable Family Business Theory II and to document its relative contribution to short-term firm achievements and long-term sustainability using National Family Business Survey panel data. Family capital was defined as total owning-family resources composed of human, social, and financial capital. Family capital significantly contributed to firm achievements and sustainability. In the short term, all family capital types explained 13.5% of gross revenue variance and 4% of owner's success perception variance. In the long term, all family capital types explained 26.7% of gross revenue variance and 11.6% of owner's success perception variance.

Original languageEnglish (US)
Pages (from-to)199-215
Number of pages17
JournalFamily Business Review
Volume22
Issue number3
DOIs
StatePublished - Sep 1 2009

Keywords

  • Family business
  • Family capital
  • Financial capital
  • Human capital
  • Social capital

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