How do Values Shape the Business Behavior of Family Firms Towards their Stakeholders? A Differentiated Analysis from Family-Owned Funeral Homes
Sprache des Vortragstitels:
IFERA 2023, International Family Enterprise Research Academy
Sprache des Tagungstitel:
Values are considered as a typical characteristic of family firms (FFs), significantly influence their organizational behavior and managerial decisions. Although academic interest in this field of research is growing, the state of the art shows a heterogeneous picture and values are often studied in a one-sided manner. The aim of this study is to provide a differentiated analysis of values in FFs and their influence on managerial decisions from an interdisciplinary perspective. To do so, we draw on a qualitative-empirical study of family-owned funeral homes, which are particularly sensitive to values. The theoretical background informing this study is based on secularization theory, postsecular society and stakeholder theory. The findings show the extent to which values guide managerial decisions and influence business relationships with stakeholders. This study adds an interdisciplinary approach to the discourse and sheds light on the under-researched question of how values impact FFs.