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Governance and Trust in Family Firms: An Introduction

Kimberly A. Eddleston1; James J. Chrisman2; Lloyd P. Steier3; Jess H. Chua4

1 Tarica–Edwards Fellow in the College of Business Administration at Northeastern University. · 2 Center of Family Enterprise Research at Mississippi State University, Centre for Entrepreneurship and Family Enterprise at the University of Alberta School of Business. · 3 Centre for Entrepreneurship and Family Enterprise and the Alberta Institute of Family Enterprise, Department of Strategic Management and Organization at the University of Alberta School of Business. · 4 Haskayne School of Business at the University of Calgary

Entrepreneurship Theory and Practice 2010

We provide an overview of the articles and commentaries devoted to theories of family enterprise in this special issue and link them to the concept of trust. Trust is a governance mechanism and theoretical construct of particular relevance for family firms, encapsulating some of their advantages and disadvantages. Trust is also linked to theoretical frameworks such as agency theory, stewardship theory, social capital theory, and transaction cost economics that are often used in family business studies, including those found in this special issue. Consequently, we advance trust as a bridging concept to reconcile and enhance our understanding of family firms as a unique organizational form.

DOI
10.1111/j.1540-6520.2010.00412.x
Volume
34 (6)
Pages
1043-1056
Language
en
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Sources
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