A Fuzzy-set hierarchical classification of family firms

Abstract

Family firms can be thought of as heterogeneous configurations where ownership, governance, management and succession are often intertwined. Previous works have typically used a partial definition of family firm based on one or more of these three aspects. In this empirical work we seek to clarify the definitions and typologies of family firms by using fuzzy sets qualitative comparative analysis (fs/QCA). Based on this methodology, we propose a hierarchical classification of family firms based on necessity and sufficiency conditions, including some possible overlapping among alternative types. We use an international sample of 6,611 companies from different industries and national/legal systems.