Family values and inter-institutional governance of strategic decision making in Indian family firms

Lampel, J and Bhalla, A and Ramachandran, K (2017) Family values and inter-institutional governance of strategic decision making in Indian family firms. Asia Pacific Journal of Management. pp. 1-30.

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Abstract

In this paper we use new venture creation in Indian family firms to explore the family firm as an inter-institutional system. We argue that in societies where the traditional family dominates social and economic life, the relationship between the two institutions, the firm and the family, is managed via inter-institutional logics. These inter-institutional logics help reconcile the tensions that often arise in the family firms during strategic decision making. We use archival and interview data on 36 new ventures in eight Indian family firms to identify these logics. Our analysis shows that the interaction between firm and family institutional logics in Indian family firms generates four sub-logics: economic, expertise, reputation and attachment. These four logics are used to frame and screen new venture opportunities and justify resource allocation.

Affiliation: Indian School of Business
ISB Creators:
ISB CreatorsORCiD
Ramachandran, Khttp://orcid.org/0000-0002-5044-3673
Item Type: Article
Uncontrolled Keywords: Family firms, Family values, New venture creation, Emerging markets, Inter-institutional system
Subjects: Family Business and Wealth Management
Depositing User: Veeramani R
Date Deposited: 17 Apr 2017 14:23
Last Modified: 17 Apr 2017 14:23
URI: http://eprints.exchange.isb.edu/id/eprint/529
Publisher URL: http://dx.doi.org/10.1007/s10490-017-9509-0
Publisher OA policy: http://www.sherpa.ac.uk/romeo/issn/0217-4561/
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