Professionalization of Family Firms: Striking a Balance Between Personal and Non-Personal Factors

Kárpáti, Zoltán (2021) Professionalization of Family Firms: Striking a Balance Between Personal and Non-Personal Factors. In: New Horizons in Business and Management Studies. Conference Proceedings. Corvinus University of Budapest, Budapest, pp. 122-135. . ISBN 978-963-503-867-1 DOI 10.14267/978-963-503-867-1_12

PDF - Requires a PDF viewer such as GSview, Xpdf or Adobe Acrobat Reader


The amount of research on family businesses’ analysis has increased significantly in recent years, thus showing the high importance of the topic. In most countries, family businesses occupy a prominent place in contributing to the economy with the added value they produce. However, less attention has been paid to the professionalization of family businesses and the exploration and presentation of the related literature. The professionalization of family business is a significant research concern in the entrepreneurship and governance literature. In the context of family businesses, professionalization initially meant nothing more than hiring an outside, non-family manager. For today, the content of professionalization has expanded, and a multidimensional model has evolved: a broader, deeper understanding has evolved, which involves other vital aspects such as developing formal control and human resource systems, decentralization of authority, formal strategic planning, or top-level activeness. This study aims to present the essential international literature on professionalization and provide a comprehensive overview of the studies published. The literature review mainly summarizes the results of the last twenty years and closely related articles. The paper follows the next logic; in the first part, the definition of professionalization is introduced along with its benefits and challenges. Then, based on the research methodology presented, the related empirical and theoretical studies are examined. In the end, the review summarizes the key findings in a table.

Item Type:Book Section
Uncontrolled Keywords:family firms, professionalization, non-family CEO, multidimensional phenomena
Subjects:Management, business policy, business strategy
Funders:Corvinus Center of Family Business
ID Code:6445
Deposited By: Ádám Hoffmann
Deposited On:23 Apr 2021 15:45
Last Modified:23 Apr 2021 15:45

Repository Staff Only: item control page


Downloads per month over past year

View more statistics