Resources & Research

Resources

AFBP Family Succession Risk Checklist — Instructions for family farm members to aid in succession.

AgTransitions — AgTransitions helps rural business owners develop a plan to transition the business to the next generation of owners.

Audio Podcasts — Listen to audio interviews with professional advisors, produced by the Center for Family Enterprise.

Family Business Magazine — The Guide for Family Companies.

Family Business Review — Journal of the Family Firm Institute.

 

Research

Below are some of our most recent publications and presentations:

Teng, C. C., Li, S., & Yang, J. J. (2020). Family control, external governance mechanisms, and dividend payouts. The Quarterly Review of Economics and Finance.

Summary: In emerging markets, due to weak protection of investor rights, large shareholders (such as the controlling family), may keep cash within the firm for their private benefit. To tackle this issue, we investigate how external governance mechanisms influence corporate dividend payouts of family firms in Taiwan. We find that family firms issue lower dividends when the dividend premium is high in the market. Institutional investors and family-controlled governance mechanisms interact to increase dividend payouts. Family firms under greater debtholder monitoring pay out more cash to shareholders. Overall, we show that three external governance mechanisms, namely market preferences, institutional investors, and debtholder monitoring, influence dividend payout decisions under a family-governance system.


Paterson, T.A. & Huang, L. (2020, October). Converting entrepreneur identity aspiration into followership outcomes via thriving: An identity-based motivation perspective. Paper presented at the 2020 Southern Management Association Meeting, St. Pete Beach, FL (held virtually).

*Finalist for Best Paper Award for the Entrepreneurship and Family Business Track

Summary: Many people aspire to be entrepreneurs someday. However, given financial, familial, and other constraints, actually starting that new venture is often a distant dream. So, what do aspiring entrepreneurs do to prepare themselves for their entrepreneurial future while working in more traditional jobs? We set out to investigate this question by looking specifically at how aspiring entrepreneurs engage with and interact with their immediate supervisors. Our thought was that given their entrepreneurial aspirations these employees would be more assertive, proactive, and more likely to engage in co-leadership with their supervisors. These behaviors would not only distinguish them as entrepreneurial in the workplace but also prepare them for their future entrepreneurial endeavors. Our results largely confirmed our predictions: we found that aspiring entrepreneurs thrived while engaging in co-production of leadership and that the presence of humble supervisor strengthened these relationships.