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Family business portfolios: Enduring entrepreneurship and exit strategies
Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
2016 (English)Doctoral thesis, comprehensive summary (Other academic)
Abstract [en]

This dissertation examines how family business portfolios endure across time and investigates the entrepreneurial strategies that they engage in. The goal of this dissertation is addressed through five appended papers in which I have argued for the importance of business families owning multiple firms, that is, portfolio entrepreneurship. Portfolio entrepreneurship plays a central role in economic development as it is a prevalent phenomenon in developed and emerging economies. However, despite its importance, there is currently very little research on portfolio entrepreneurship, especially in the context of family firms.

In so doing, I study nine business families owning multiple businesses in Pakistan. I conducted in-depth interviews with family owners and employees; the interviews were supplemented with other sources of data such as observations and archival material. When studying questions such as how a portfolio is built-up across generations, how and why business families exit and, when they exit, which businesses they choose to exit from, I draw on insights from the literature on portfolio entrepreneurship, business exit, family firms, socioemotional wealth, sensemaking, compassion and social identity theory in the five papers.

The dissertation addresses the calls for studies on portfolio entrepreneurship in the context of family firms by examining the process through which a portfolio is constructed by studying performance and exit related issues. In other words, it examines both the growth and the contraction of portfolios. The study offers several contributions. First, it contributes to studies on enduring entrepreneurship by investigating how business families last across time despite encountering difficult situations and declining business. Second, the study contributes to the portfolio entrepreneurship literature by elucidating how portfolios are built across generations and the roles of both growth and contractions while addressing processual and contextual issues.

Third, the study contributes to the business exit literature by looking at the exit process in a family business context and exploring multiple exits. This isunique, as it is, to the best of my knowledge, the first study on business exits looking at multiple exit in the context of family firms. Fourth, the study also contributes to the literature on family firms by exploring how and why business families refrain from exiting from their core legacy business and how their emotions influence the exit process.

Finally, the study contributes to context-related issues. The study adds to the literature on contextualization and addresses the call for more context-specific studies in entrepreneurship scholarship. This dissertation is focused on context-based factors considering the spatial and social context, where the former has been undertaken by taking an emerging economy and country context as the setting, while the latter refers to the relational and emotional ties within family firms. In addition to its theoretical contributions, this dissertation has important implications for practice. The dissertation brings to the fore some promising and unique ways in which entrepreneurship endures across time and context through the transgenerational transmission of entrepreneurship and insights into how business families behave in a declining business situation. Additionally, this study offers insights for family owners and managers on how to address the dilemma of continued entrepreneurship, that is, how to encourage and foster enduring entrepreneurship in organizations, in particular in the context of family firms.

Place, publisher, year, edition, pages
Jönköping: Jönköping University, Jönköping International Business School , 2016. , 75 p.
Series
JIBS Dissertation Series, ISSN 1403-0470 ; 108
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-29717ISBN: 978-91-86345-66-2 (print)OAI: oai:DiVA.org:hj-29717DiVA: diva2:917070
Public defence
2016-04-29, B1014, Internationella handelshögskolan, Jönköping, 13:00 (English)
Opponent
Supervisors
Available from: 2016-04-05 Created: 2016-04-05 Last updated: 2017-01-12Bibliographically approved
List of papers
1. Portfolio entrepreneurship in family firms: Taking stock and moving forward
Open this publication in new window or tab >>Portfolio entrepreneurship in family firms: Taking stock and moving forward
2017 (English)In: The Routledge companion to family business / [ed] Franz W. Kellermanns, Frank Hoy, Routledge, 2017Chapter in book (Refereed)
Place, publisher, year, edition, pages
Routledge, 2017
Series
Routledge Companions in Business, Management and Accounting
Keyword
Portfolio entrepreneurship, Triggers, Context, Outcomes, Performance, Family Firms
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-29712 (URN)9781138919112 (ISBN)
Note

An earlier version of this paper was presented and won the award for Best Paper in Family Business Sponsored by Florida Atlantic University & Northeastern University, at USASBE, 2016 conference in San Diego, California, January 10-12.

Available from: 2016-04-05 Created: 2016-04-05 Last updated: 2017-01-12
2. Surviving the legacy: Sensemaking of emotions and exit in portfolio firms
Open this publication in new window or tab >>Surviving the legacy: Sensemaking of emotions and exit in portfolio firms
(English)Manuscript (preprint) (Other academic)
National Category
Economics and Business
Identifiers
urn:nbn:se:hj:diva-29714 (URN)
Available from: 2016-04-05 Created: 2016-04-05 Last updated: 2017-01-12
3. Transgenerational moral emotions: Activating compassion to develop a positive organization
Open this publication in new window or tab >>Transgenerational moral emotions: Activating compassion to develop a positive organization
(English)Manuscript (preprint) (Other academic)
Keyword
Moral emotions; Compassion; Positive psychology
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-29715 (URN)
Available from: 2016-04-05 Created: 2016-04-05 Last updated: 2016-12-25
4. Transgenerational growth: Family business portfolios in rural and urban contexts
Open this publication in new window or tab >>Transgenerational growth: Family business portfolios in rural and urban contexts
2016 (English)Manuscript (preprint) (Other academic)
Keyword
portfolio entrepreneurship
National Category
Business Administration
Identifiers
urn:nbn:se:hj:diva-29716 (URN)
Available from: 2016-04-05 Created: 2016-04-05 Last updated: 2016-12-25

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