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Trust in the family firm: results and Implications for practitioners based on an all-Ireland family business study

Faherty, Catherine orcid logoORCID: 0000-0002-7725-7774 (2019) Trust in the family firm: results and Implications for practitioners based on an all-Ireland family business study. Policy Report. Dublin City University.

Abstract
Families throughout the world comprise naturally occurring communities that generate trust relations. As such, family firms are often referred to as high-trust organisations. The intense bonds inherent in familial relationships provide a fundamental basis for commitment, cooperation, reduced monitoring, and open disclosure. Consequently, trust represents an important source of strength for family firms. Despite this, family firms are complex entities, and even though they comprise distinct features that can facilitate trust, family firms are particularly vulnerable to forces that can lead to the dilution or dissolution of trust. However, to date, few studies in the context of family firms have been directed toward the topic of trust. This study is one of the first empirical investigations to examine this phenomenon. The findings show how important it is to encourage competent family members to join the firm while also ensuring that there is ample room for upward career paths for able, non-family employees.
Metadata
Item Type:Monograph (Policy Report)
Refereed:No
Subjects:Business > Business ethics
Business > Family Business
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Publisher:Dublin City University
Official URL:https://aib.ie/content/dam/frontdoor/business/docs...
Copyright Information:© 2019 DCU National Centre for Family Business
Funders:AIB
ID Code:29531
Deposited On:30 Jan 2024 16:03 by Michelle Cowley-Cunningham . Last Modified 30 Jan 2024 16:03
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