Publication detail

The Family Influence on Business: Czech Family Companies

SRBOVÁ, P. REŽŇÁKOVÁ, M.

Original Title

The Family Influence on Business: Czech Family Companies

Type

article in a collection out of WoS and Scopus

Language

English

Original Abstract

Research background: Family businesses represent a combination of family and business aspects. Typically, a family is the majority owner and its members are top managers of the firm. The company name often contains the names of family members, i.e. they are publicly known. The family thereby gains recognition through the business operations of its firm, such as socially responsible business practices, and may also be considered a good employer. These aspects constitute its socioemotional wealth (SEW). Family business owners may consider the SEW to be of greater importance than typical corporate management, and this may be a reason for the lower profitability of family businesses. The purpose of the article: The aim of this article is to describe selected factors influencing SEW and to verify their significance on data on Czech family companies. Methods: The research was based on qualitative and quantitative data obtained by a questionnaire survey. Descriptive and statistical methods were used to analyse the formulated assumptions. Findings & value added: Most Czech family companies are run by the first or second generation of family owners. Since they consider their control and influence on their company to be extremely important, family owners do not typically consider the entry of non-family investors into the ownership structure. The assumption that family companies have a low level of indebtedness was not confirmed. The ownership of the company consists of one family, which usually keeps a 100% share. The family has at least one member in the top management. The founder of the company is typically the father. The family prefers to transfer the business to family members; firstly its management, then its ownership.

Keywords

family business; family influence; socioemotional wealth; Czech Republic

Authors

SRBOVÁ, P.; REŽŇÁKOVÁ, M.

Released

13. 1. 2021

Publisher

EDP Sciences

Location

Slovakia

ISBN

9781713824145

Book

The 20th International Scientific Conference Globalization and its Socio-Economic Consequences 2020

ISBN

2261-2424

Periodical

SHS Web of Conferences

Year of study

92

Number

1

State

French Republic

Pages from

1

Pages to

11

Pages count

11

URL

https://www.shs-conferences.org/articles/shsconf/abs/2021/03/shsconf_glob20_05025/shsconf_glob20_05025.html

Full text in the Digital Library

http://hdl.handle.net/11012/201011

BibTex

@inproceedings{BUT172241,
  author="Pavla {Srbová} and Mária {Režňáková}",
  title="The Family Influence on Business: Czech Family Companies",
  booktitle="The 20th International Scientific Conference Globalization and its Socio-Economic Consequences 2020",
  year="2021",
  journal="SHS Web of Conferences",
  volume="92",
  number="1",
  pages="1--11",
  publisher="EDP Sciences",
  address="Slovakia",
  doi="10.1051/shsconf/20219205025",
  isbn="9781713824145",
  issn="2261-2424",
  url="https://www.shs-conferences.org/articles/shsconf/abs/2021/03/shsconf_glob20_05025/shsconf_glob20_05025.html"
}