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Sustaining the family business with minimal financial rewards
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Glover, Jane L. and Reay, Patricia (2015) Sustaining the family business with minimal financial rewards. Family Business Review, 28 (2). pp. 163-177. doi:10.1177/0894486513511814 ISSN 0894-4865.
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Official URL: http://dx.doi.org/10.1177/0894486513511814
Abstract
We engaged in a multicase comparative study exploring how family farm businesses continue when economic returns are minimal. We analyzed strategic approaches used by 20 family dairy farms operating in the United Kingdom and identified four different strategic behaviors chosen by the family farm businesses—diversifying the business, maximizing debt, sacrificing family needs, and compromising. Each strategy allows the firm to survive, but has consequences for the family, the business, or both. Our study contributes to the socioemotional wealth literature by showing how emotional attachment to the business can influence firm decision making.
Item Type: | Journal Article | ||||||||
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Subjects: | H Social Sciences > HD Industries. Land use. Labor S Agriculture > SF Animal culture |
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Divisions: | Faculty of Social Sciences > Warwick Business School > Entrepreneurship, Innovation & Management Faculty of Social Sciences > Warwick Business School |
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Library of Congress Subject Headings (LCSH): | Family farms -- Finance -- Case studies -- Great Britain, Dairy farming -- Economic aspects -- Case studies -- Great Britain | ||||||||
Journal or Publication Title: | Family Business Review | ||||||||
Publisher: | Sage Publications, Inc. | ||||||||
ISSN: | 0894-4865 | ||||||||
Official Date: | 1 June 2015 | ||||||||
Dates: |
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Volume: | 28 | ||||||||
Number: | 2 | ||||||||
Page Range: | pp. 163-177 | ||||||||
DOI: | 10.1177/0894486513511814 | ||||||||
Status: | Peer Reviewed | ||||||||
Publication Status: | Published | ||||||||
Access rights to Published version: | Restricted or Subscription Access | ||||||||
Date of first compliant deposit: | 12 February 2018 | ||||||||
Date of first compliant Open Access: | 12 February 2018 |
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