Context and Uniqueness of Family Businesses

Leo-Paul Dana and Veland Ramadani (Eds), Family Businesses in Transition Economies, Springer. 2015

33 Pages Posted: 5 Feb 2015

See all articles by Veland Ramadani

Veland Ramadani

South East European University at Tetovo

Frank Hoy

Worcester Polytechnic Institute (WPI) - Collaborative for Entrepreneurship & Innnovation School of Business

Date Written: February 3, 2015

Abstract

Family businesses represent the majority of companies and are an important source for the generation of jobs in most countries (Hacker & Dowling, 2012; Fattoum & Fayolle, 2009; Kellermanns et al., 2008; Kuratko & Hodgetts, 2004; Ramadani et al., 2013, Hoy & Sharma, 2010; Mazzarol, 2006; Cadbury, 2000). Their stability is critical to global economic growth. The importance of these businesses to a country's economy is substantial. Multiple research studies have recorded the predominance of family firms in countries throughout the world. The prevalence of family businesses also documents both the economic and social impact they have (Brigham, 2013). It should be emphasized that not all family businesses are small. In 2006, Bloomberg Business week reported that 35% of companies listed in the Fortune 500 could be classified as family businesses (Perman, 2006; reconfirmed by Fiti and Ramadani, 2013).

Keywords: family business, succession

JEL Classification: M13

Suggested Citation

Ramadani, Veland and Hoy, Frank, Context and Uniqueness of Family Businesses (February 3, 2015). Leo-Paul Dana and Veland Ramadani (Eds), Family Businesses in Transition Economies, Springer. 2015, Available at SSRN: https://ssrn.com/abstract=2559662

Veland Ramadani (Contact Author)

South East European University at Tetovo ( email )

Ilindenska bb
Tetovo, 1200
Macedonia
+38944356080 (Phone)
+38944356001 (Fax)

HOME PAGE: http://www.seeu.edu.mk

Frank Hoy

Worcester Polytechnic Institute (WPI) - Collaborative for Entrepreneurship & Innnovation School of Business ( email )

100 Institute Road
Worcester, MA 01609
United States
508-831-4998 (Phone)
508-831-5720 (Fax)

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