An Exploratory Study of Family Member Characteristics and Involvement: Effects on Entrepreneurial Behavior in the Family Firm

Abstract

Family firms are essential for economic growth and development through new business startups and growth of existing family firms. Entrepreneurial behavior by the CEO is essential for such growth to occur. Entrepreneurial behavior can be influenced by inherent characteristics of the CEO, such as age and tenure, as well as by the degree of family influence in the firm, as indicated by the number of generations involved in the business. We assess the empirical relationships of these variables to both entrepreneurial behavior and subsequent firm growth.