Economic Crisis and Relationships: How Economic Crisis Affect Family Firm’s Contractual Relationship and What is the Driving Logic for the Change?
Independent thesis Advanced level (degree of Master (One Year)), 10 credits / 15 HE creditsStudent thesis
Leading up to the time just before the economic and global meltdown of 2008, economist and theorist forecasted as early as 2005 about and impending financial crisis that would affect every sector of the business and financial community. As we discover in more dramatic detail that family firms are occupying a big percentage in small to medium size enterprises, we wondered how they would be affected by such a high degree of uncertainty and volatility in the financial markets during the economic crisis. With these factors in mind, we would like to see it in a more day–to–day, practical application within family firms. In the supply chain or procurement life-cycle, firms need to receive products and services from the supplier and the supplier will in turn offer those same services to the customer. The firm will tend to structure this tradeoff with a contractual structure to guarantee achievement of mutual benefit and economic objectives of the firm. On the other hand, family firms are famous for being distinguish from non-family firms in their non-economic objective they persuade along their businesses. Considering these two different logics that affects the decision of the firm in structuring contractual governance with the exchanging party. We ask the following questions in our purpose.
Place, publisher, year, edition, pages
2012. , 49 p.
Family Firms, Contractual Relationship, Economic Crisis, Socio-emotional Wealth, Transaction Cost Economics
IdentifiersURN: urn:nbn:se:hj:diva-19188OAI: oai:DiVA.org:hj-19188DiVA: diva2:544934
2012-05-22, Jönköping, 11:15 (English)