Uncertainty in the family business facing the process of internationalization: Literature review and future research agenda

• Main Authors: Quico Marin, Fernando Campa-Planas, Ana Beatriz Hernández-Lara
• Format: Article
• Language: Catalan
• Published: OmniaScience 2014-12-01
• Series: Intangible Capital
• Subjects: Internationalization, family business, ownership structure, risk, systematic review.
• Online Access: http://www.intangiblecapital.org/index.php/ic/article/view/556

<p><strong><em>Purpose:</em></strong> This article analyses the Family Business (FB) within the process of globalization that has been taking place in recent decades.</p><p><strong><em>Design / methodology / approach:</em></strong> To achieve this we undertake a description of the importance of FB in the global economy and contrast this with a systematic review of the academic literature, which demonstrates the growing academic interest in the internationalization of the FB.</p><p><strong><em>Findings:</em></strong> The literature review highlights the importance of agency and stewardship theories when analyzing the aspects that affect the process of internationalization. These theoretical frameworks require a variety of assumptions and explain how ownership and control of an FB may explain different attitudes towards some short term risks, which could be due to FB politics of internationalization.</p><p><strong><em>Research limitations / implications:</em></strong> Finally, we mark out future research lines which will focus on the effect the ownership structure has on the type of internationalization that is undertaken by the FB.</p><strong><em>Originality / value:</em></strong> This article outlines new lines of literature review in the FB internationalization field, suggesting to the future authors the outstanding journals and topics in this research field.