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The Influence Of Family Business Size On Management Activities, Styles And Characteristics, Matthew C. Sonfield, Robert N. Lussier

New England Journal of Entrepreneurship

This is an empirical study of family firm size, as measured by the number of employees, and the relationship of a firm’s size to a variety of management activities, styles, and characteristics. A statistical analysis of data drawn from 159 American family businesses indicates significant differences by size with regard to the number of nonfamily members in top management, use of outside advisors, time spent engaged in strategic management, use of sophisticated methods of financial management, proportion of women family members involved in firm management, and level of conflict between family members. Implications are offered for family firm owner-managers, for …