European Business Schools Librarian's Group
IESE Research Papers,
IESE Business School
No D/916: Corporate values guiding the world's largest family-owned businesses: A comparison with non-family firms
Lucia Ceja () and Josep Tapies
Additional contact information
Lucia Ceja: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN
Josep Tapies: IESE Business School, Postal: Research Division, Av Pearson 21, 08034 Barcelona, SPAIN
Abstract: This paper analyzes formally stated corporate values, a key topic of concern in the field of family businesses. More specifically, the study aims to contribute to the literature by enabling a deeper understanding of the differences and similarities of the corporate values at the foundation of the world's top 100 largest family-owned firms and non-family businesses. According to the study findings, the values of integrity, respect, and customers are the top three most-mentioned values in both family-owned businesses and non-family companies. Likewise, there are distinct values that are mentioned often by family-owned firms and seldom stated or not stated at all by non-family businesses. These values tend to be more people-oriented; emphasize collectivity more than individuality; and support a long-term perspective and a sense of stewardship and responsibility toward the future of the family and the community in which the business operates.
Keywords: family-owned firms; corporate values; positive psychology; family-business values
20 pages, March 9, 2011
Full text files
DI-0916-E.pdf
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