Title: The transgenerational family effect on new venture growth strategy

Authors: David Pistrui, Patrick J. Murphy, Anne-Sophie Deprez-Sims

Addresses: Illinois Institute of Technology, Stuart School of Business, 3424 South State Street, Suite 400, Chicago, IL 60616, USA. ' Kellstadt Graduate School of Business, DePaul University, One East Jackson Boulevard, Suite 7000, Chicago, IL 60604-2287, USA. ' Illinois Institute of Technology, Stuart School of Business, 3424 South State Street, Suite 400, Chicago, IL 60616, USA

Abstract: We examine family-based resiliencies and transgenerational phenomena in family business contexts and introduce the transgenerational family effect (TFE) construct. The TFE influences long-term strategy and culture in family-based entrepreneurial ventures. We clarify the boundaries of the construct based on evidence from 414 cases in the panel study of entrepreneurial dynamics. Then, we operationalise it with two-by-two permutations of family membership and strategic tradition. Finally, we develop and assess hypotheses about venture strategic vision, growth orientation and wealth orientation. Our findings suggest that the TFE promotes vision and wealth creation across generations in family businesses.

Keywords: entrepreneurship; transgenerational families; strategic vision; growth; family businesses; new ventures; venture growth; entrepreneurial dynamics; wealth creation.

DOI: 10.1504/IJEIM.2010.033164

International Journal of Entrepreneurship and Innovation Management, 2010 Vol.12 No.1, pp.3 - 16

Published online: 10 May 2010 *

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