Viewing Family Firm Behavior and Governance Through the Lens of Agency and Stewardship Theories | Zendy

Kristen Madison | Zendy; Daniel T. Holt | Zendy; Franz W. Kellermanns | Zendy; Annette L. Ranft | Zendy

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Viewing Family Firm Behavior and Governance Through the Lens of Agency and Stewardship Theories

Author(s) -

Kristen Madison,

Daniel T. Holt,

Franz W. Kellermanns,

Annette L. Ranft

Publication year - 2015

Publication title -

family business review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 2.947

H-Index - 105

eISSN - 1741-6248

pISSN - 0894-4865

DOI - 10.1177/0894486515594292

Subject(s) - stewardship theory , stewardship (theology) , corporate governance , agency (philosophy) , principal–agent problem , grounded theory , business , family business , through the lens metering , public relations , sociology , political science , lens (geology) , marketing , qualitative research , finance , social science , politics , law , petroleum engineering , engineering

Agency and stewardship theories are prominent perspectives to examine myriad issues within family firms. Although considered opposing theories, both address the same phenomena: the individual-level behaviors and firm-level governance mechanisms that predict organizational outcomes. Accordingly, we review and synthesize these theories concurrently, using the concepts of behavior and governance as our organizing framework. Our review encompasses 107 family firm articles grounded in agency and/or stewardship theory, published between 2000 and 2014 in 24 journals across several disciplines. Additionally, we identify future research areas that provide scholars opportunities to push theoretical boundaries and offer further insights into the family firm.

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