Decoding Family Togetherness : How Familial Bonds Shape the Family Business

Ramachandran, K and Bhatnagar, N Decoding Family Togetherness : How Familial Bonds Shape the Family Business. Working Paper. Indian School of Business.

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Abstract

Sustaining the family business has been a core concern of family business scholars (Le Breton-Miller & Miller, 2016). Long-term survival of business is possible only when the owner family sustains as a cohesive unit. For this, strong family bonding is critical. Family ties have been probed in literature but in a fragmented manner. Moreover, the theories of family cohesion or socioemotional wealth consider family ties purely as a phenomenon of the family sub-system and examine their effect on business outcomes. We assimilate the disparate literature on familiality and conceptualize a coherent whole, termed, ‘Family Togetherness.’ We define family togetherness as the capability of the owner family to operate as a cohesive unit across both the family and business contexts. It is a ‘supra-entity’ determined by the constituent dimensions from the complex whole of the family and business sub-systems. These dimensions are rooted in the operational and governance practices followed in both the sub-systems. Using confirmatory factor analysis based on 279 survey responses from family business leaders in India, this study identifies six dimensions of family togetherness: i.e., Professionalism, Commitment, Mutual Respect, Complexity, Shared Vision, and Nurturance. The paper also discusses the implications and concludes with suggestions for future research

Affiliation: Indian School of Business
ISB Creators:
ISB CreatorsORCiD
Ramachandran, Khttp://orcid.org/0000-0002-5044-3673
Bhatnagar, NUNSPECIFIED
Item Type: Monograph (Working Paper)
Uncontrolled Keywords: Socio-emotional wealth
Subjects: Family Business and Wealth Management
Depositing User: Gurusrinivasan K
Date Deposited: 06 Nov 2019 16:45
Last Modified: 06 Nov 2019 16:45
URI: http://eprints.exchange.isb.edu/id/eprint/1314
Publisher URL: https://www.isb.edu/fbwm/research/workingpapers?it...
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