What is a family company?
One of the main challenges that people are interested in this subject, is defining the family business, since it lacks theoretical and empirical integration, due to it is a young discipline, which has led different definitions of the same and its study object to be performed (Belausteguigoitia, 2010). Despite that diversity, it should be noted that the concept of family business is not confined to the micro concept, small or medium-sized enterprises, since they can also be big companies in different economic or industrial sectors.
While there is no consensus on a particular definition, Villalonga and Amit (2004), argue that the majority of the definitions include at least three dimensions: one or more families keep a significant part of the capital, family members retain one significant (greater than 50%) control over the company, which depends on the distribution of capital and voting rights between the actions of non-relatives with possible statute or legal restrictions, and the family members hold positions in senior management. However, others consider that there must also be a sense of continuity, due to one thing is to grow the company to sell it and another thing is to want to keep it within the family. It is thus that the definitions affect the comparative studies of family firms versus non-family; when they divide in samples of family and non-family businesses on the basis of different definitions, very different results are obtained (Westhead & Cowling, 1998).

Conceptualization of the family businesses. Then relates different conceptual and ideological approaches of the family company, allowing you to expand this concept further.

Source: Own elaboration based on Sandig (2004) and Berrone, Cruz & Gomez-Mejia (2012)
The family company worldwide; here are some sections that were found in a study conducted by the ST. Gallen University, Switzerland (2015), which allows to know the importance of the family company worldwide.[1]

Conclusion:
The study and analysis of family companies in Colombia has been a subject of research relatively little discussed by scholars in its different facets in comparison with scholars from other countries, which currently has only 28 documents of research in this area, published between 2004 and 2016. Its main themes have been focused on the agency problems, capital structure, corporate governance, financial performance and succession, leaving aside the innovation and competitiveness of such organizations.
[1] The family companies center from the ST. Gallen University, Switzerland; published the Global Family Business Index, developed by the University with the collaboration of the Ernst & Young’s Global Family Business Center of Excellence. This Global Family Business Index includes the world's 500 largest companies.
Bibliography
Anderson, R., & Reeb, D. (2003). Founding-family ownership and firm performance: evidence from the S&P 500. Journal of Finance, 58(3), 1301-1327.
Chua, J., Chrisman, J., & Sharma, P. (1999). Defining the Family Business by Behavior. Entrepreneurship: Theory and Practice, 23(4), 19 - 39.
Dibrell, C., & Craig, J. (2006). The natural enviroment, innovation, and firm performance: A comparative study. Family Business Review(19), 275-288.
Gallo, M., & Vilaseca, A. (1996). Finance in family business. Family Business Review, 9(4), 287-305.
Habbershon, T., & Williams, M. (1999). A resource based framework for assessing the strategic advantages of family firms. Family Business Review, 12(1), 1-25.
Habbershon, T., Williams, M., & MacMillan, I. (2003). A unified systems perspective of family firm performance. Journal of Business Venturing, 18(4), 451.
Monsen, R. (1969). Ownership and management: The effect of separation on performance. Business Horizonts(12), 46-52.
Pittino, D., & Visintin, F. (2009). Innovation and strategic types of family SMEs. A test and extension of Miles and Snow’s configurational model. Journal of Enterprising Culture, 17, 257 - 295.
Made by: Mercedes Gaitan Angulo PhD
If you share the interest in this subject wait for next notes.
Contact us at email [email protected]
¿Qué sabes sobre Empresa de Familia?
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¿Qué es una Empresa de Familia?
Uno de los principales retos con los que se encuentran las personas interesadas en este tema, es el definir a la empresa familiar, puesto que carece de una integración teórica y empírica, debido a que se trata de una disciplina joven, lo que ha propiciado que se realicen diversas definiciones sobre la misma y su objeto de estudio (Belausteguigoitia, 2010). A pesar de esa diversidad, debe aclararse que el concepto de Empresa Familiar no se circunscribe al de micro, pequeña o mediana empresa, ya que también pueden serlo las compañías grandes de diferentes actividades económicas o industriales.
A pesar de que no existe consenso acerca de una definición en particular, Villalonga y Amit (2004), argumentan que la mayoría de las definiciones al menos incluyen tres dimensiones: una o varias familias mantienen una significante parte del capital, los miembros de familia retienen un significante (mayor del 50%) control sobre la compañía, la cual depende de la distribución de capital y los derechos a voto entre las acciones de las no familiares, con estatuto posible o restricciones legales, y los miembros de la familia mantienen posiciones en la alta gerencia. Sin embargo, otros consideran que también debe haber un sentido de continuidad, pues una cosa es crecer la empresa para venderla y otra cosa es querer conservarla en el seno familiar. Es así que como las definiciones afectan los estudios comparativos de empresas familiares versus no familiares; cuando ellas se dividen en muestras de empresas familiares y no familiares sobre la base de diferentes definiciones, se obtienen resultados muy diferentes (Westhead & Cowling, 1998).

Conceptualización de Empresas de Familia. A continuación se relaciona los diferentes enfoques conceptuales e ideológicos de la empresa de familia, que permite ampliar más este concepto.

Fuente: Elaboración propia con base en Sandig(2004)y Berrone, Cruz &Gomez-Mejia (2012)
La empresa de Familia a Nivel Mundial; A continuación presentamos algunos apartados que se encontraron en un estudio realizado por la universidad ST. Gallen en Suiza (2015), que permite conocer la importancia de las empresas de familia a nivel mundial[1].

Conclusión:
El estudio y análisis de las empresas familiares en Colombia ha sido un tema de investigación relativamente poco abordado por los académicos en sus diferentes facetas en comparación con académicos de otros países, ya que actualmente solo cuenta con 28 documentos de investigación en esta área, publicados entre el 2004 al 2016. Sus temáticas principales se han enfocado en los problemas de la agencia, la estructura de capital, el gobierno corporativo, el desempeño financiero y el proceso de sucesión, dejando de lado la innovación y la competitividad de este tipo de organizaciones.
[1] El Centro de Empresas Familiares de la Universidad de St. Gallen de Suiza, publica el Índice Global de Empresas Familiares (Global Family Business Index), elaborado por dicha universidad con la colaboración del Centro Global de Excelencia de Empresas Familiares de la consultora Ernst & Young (EY’s Global Family Business Center of Excellence). Este Índice Global comprende las 500 empresas familiares más grandes del mundo.
Bibliografía
Anderson, R., & Reeb, D. (2003). Founding-family ownership and firm performance: evidence from the S&P 500. Journal of Finance, 58(3), 1301-1327.
Chua, J., Chrisman, J., & Sharma, P. (1999). Defining the Family Business by Behavior. Entrepreneurship: Theory and Practice, 23(4), 19 - 39.
Dibrell, C., & Craig, J. (2006). The natural enviroment, innovation, and firm performance: A comparative study. Family Business Review(19), 275-288.
Gallo, M., & Vilaseca, A. (1996). Finance in family business. Family Business Review, 9(4), 287-305.
Habbershon, T., & Williams, M. (1999). A resource based framework for assessing the strategic advantages of family firms. Family Business Review, 12(1), 1-25.
Habbershon, T., Williams, M., & MacMillan, I. (2003). A unified systems perspective of family firm performance. Journal of Business Venturing, 18(4), 451.
Monsen, R. (1969). Ownership and management: The effect of separation on performance. Business Horizonts(12), 46-52.
Pittino, D., & Visintin, F. (2009). Innovation and strategic types of family SMEs. A test and extension of Miles and Snow’s configurational model. Journal of Enterprising Culture, 17, 257 - 295.
Elaborado: por Mercedes Gaitan Angulo PhD
Si compartes el interés en este tema espera próximas notas.
Contactarse al correo: [email protected]