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Measuring Success in Small Family Businesses - A Socioemotional Wealth Perspective

In: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019

Author

Listed:
  • Ivana, Bujan
Abstract
The goal of this paper is to reveal typical non-financial success measures in small family business in Croatia. Socioemotional wealth model is used as a basis for questionnaire construction. Questionnaire items represent family typical success measures and are adaptable to different business activities. Since family business is heterogeneous it was necessary to give a definition of chosen sample – small family hotels. Given definition of small family business was used as a key to separate the family and non-family businesses in this survey. Chosen, socioemotional based, success measures were tested on a sample of small family hotels by using logistic regression. Based on the statistical results, community acknowledgments and continuation of family business are the most important non-financial success measures for Croatian example.

Suggested Citation

  • Ivana, Bujan, 2019. "Measuring Success in Small Family Businesses - A Socioemotional Wealth Perspective," Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference (2019), Rovinj, Croatia, in: Proceedings of the ENTRENOVA - ENTerprise REsearch InNOVAtion Conference, Rovinj, Croatia, 12-14 September 2019, pages 120-129, IRENET - Society for Advancing Innovation and Research in Economy, Zagreb.
  • Handle: RePEc:zbw:entr19:207671
    as

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    File URL: https://www.econstor.eu/bitstream/10419/207671/1/15-ENT-2019-Bujan-120-129.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    family firm management; family entrepreneurship; socioemotional wealth;
    All these keywords.

    JEL classification:

    • D10 - Microeconomics - - Household Behavior - - - General
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance
    • L26 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Entrepreneurship
    • M21 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics - - - Business Economics

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