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Overview of Family Business Relevant Issues

Overview of Family Business Relevant Issues

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Final Report, 2008
Final Report, 2008

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Categories:Types, Business/Law
Published by: StudioCentroVeneto s.a.s. on Jan 25, 2011
Copyright:Attribution Non-commercial

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KMU FORSCHUNG AUSTRIA
Austrian Institute for SME Research
In co-operation with
Overview of Family Business Relevant IssuesContract No. 30-CE-0164021/00-51Final Report
Vienna 2008
 
KMU FORSCHUNG AUSTRIA
Austrian Institute for SME Research
This study is conducted on behalf of theEuropean Commission, Enterprise and Industry Directorate-General.
Author:
Irene Mandl (Austrian Institute for SME Research)
Review
Ulla Hytti (TSE)
Johan Lambrecht (EHSAL - K. U. Brussel)
Pekka Stenholm (TSE)
Peter Voithofer (Austrian Institute for SME Research)
Layout:
Martina Gugerell (Austrian Institute for SME Research)The contents of this publication do not necessarily reflect the opinion or position of theEuropean Commission. Neither the Commission nor any person acting on behalf of theCommission is responsible for the use that might be made of the information containedherein.This study has been elaborated with reasonable care. The project team does not, however, accept responsibility for printing errors and/or other imperfections and potential(consequential) damage resulting thereof.
 
IOverview of Family Business Relevant Issues -Final Report
Content
Executive Summary.................................................................................................... 11 Introduction ..................................................................................................... 7
1.1 Background and Objectives of the Study ........................................................... 71.2Methodology Applied and Structure of the Report ............................................. 9
2Understanding of “Family Business” Across Europe ................................ 13
2.1Definition of “Family Business” in Public and Policy Discussion as well asResearch......................................................................................................... 132.2Family Businesses within the Enterprise Population ........................................ 35
3Economic Importance of Family Businesses in Europe............................. 39
3.1Family Businesses’ Contribution to the Economy ............................................ 393.2Size Class Considerations............................................................................... 483.3Sectors of Activity............................................................................................ 50
4Characteristics of Family Businesses in Europe ........................................ 53
4.1Interrelationships between Family and Business Sphere................................. 544.1.1Overlaps Between the Family and the Business.............................................. 544.1.2Governing Relationships Between Family Members/Family Membersand Other Stakeholders................................................................................... 564.2Motivation/Drivers............................................................................................ 564.2.1Long-term Sustainability .................................................................................. 564.2.2Business Transfer ........................................................................................... 574.3Social Endowment/Social Capital .................................................................... 584.3.1Personal Values .............................................................................................. 584.3.2Personal Engagement/Involvement ................................................................. 584.3.3Risk Behaviour/Local Commitment.................................................................. 594.3.4Corporate SocialResponsibility ....................................................................... 594.3.5Social Capital and Networking......................................................................... 604.4Management ................................................................................................... 624.4.1Composition of the Management Team ........................................................... 624.4.2Management Expertise.................................................................................... 634.4.3Decision Making Processes............................................................................. 644.5Economic Endowment..................................................................................... 654.5.1Capital/Finance ............................................................................................... 65

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