Competitive advantage in long-lived family firms: Implications of market characteristics and strategically relevant knowledge

Britta Boyd, Susanne Royer, Toshio Goto

Research output: Chapter in Book/Report/Conference proceedingBook chapterResearchpeer-review

Abstract

Literature concerning intra-family succession vs. non-family succession is still limited. As a result, we know relatively little about the impact of an internal succession on keeping strategically relevant knowledge inside the business. Consequently, this paper’s primary research interest is the interplay between market context and strategically relevant knowledge resources in long-lived family firms. Based on the market-based view and resource theory, we suggest that in some market environments, family-business specific experiential knowledge forms a basis for competitive advantage and that such knowledge can be transferred to internal successors easier than to external successors. Several propositions are developed and discussed in relation to six case studies of long-lived family businesses from different market contexts. As a result, we put forward four revised propositions for future research to investigate.
Original languageEnglish
Title of host publicationThe Palgrave Handbook of Heterogeneity among Family Firms
EditorsEsra Memili, Clay Dibrell
Number of pages39
Place of PublicationCham, Switzerland
PublisherPalgrave Macmillan
Publication date2019
Pages961-1000
Article number35
ChapterPart V Strategies
ISBN (Print)978-3-319-77675-0
ISBN (Electronic)978-3-319-77676-7
DOIs
Publication statusPublished - 2019

Keywords

  • Knowledge, Family business, Competitive advantage, Market context, Case studies.

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