... of trust during the M&A process in family firms can be avoided. An acquisition potentially triggers a loss of trust in the workplace and, as a result, a loss of productivity thereby causing the merged business to totter. Moreover, trust in a firm’s owner tends to be a key driver in merging family firms...

...Frank Lattuch Purpose Organization renewal through innovation represents a difficult managerial challenge in family firms. This paper aims to reveal a framework for sustaining innovation capabilities through a perspective of value and process principles. Design/methodology/approach The author...

...Frank Lattuch Purpose When studying innovation in family firms, several contradictions appear, as the family and the firm represent different social systems that follow different rules and expectations. This paper aims to argue that a deeper understanding and effective management of those...

...Martin R.W. Hiebl Purpose – This paper aims to shed light on the potential downsides of risk aversion in family firms. Moreover, it seeks to provide measures on how to balance risk taking and risk aversion in family businesses. Design/methodology/approach – The article first presents four...

... accounting adds value. The key feature of management accounting in this context is that it creates transparency and delivers facts for decision making. In many family firms, decision making is not based solely on facts but on emotions (Sirmon and Hitt, 2003) since decisions become entirely emotion-driven...