Internal factors of family business performance: An integrated theoretical model

This paper puts forward a theoretical model that identifies the internal factors explaining family business performance. Studies of family companies have mainly compared the performance of these firms with the performance of non-family companies. In our view, the results of such studies are contradictory given the enormous variety of both family and non-family companies, and the partial scope of the models and tests performed. Hence, there is a need for an integrated model that systematically considers the internal factors that influence the performance of family businesses and which are not based on flawed comparisons with other kinds of firms. This work presents such a model, examining theories and evidence on how the family condition and its dimensions influence performance.