FSE grant to Morten Bennedsen
Project Title: Inside the Family Firm: How preferences and values cause differences in business organization, decision-making and outcomes
Grant Recipient: Morten Bennedsen
Place of Employment: Copenhagen Business School
Awarded Amount: 5,725,707 DKK
Family business is the typical form of organization in all countries in the world. The past 10 years research has determined that family businesses often are different than other businesses. In this research project we examine how these differences arise. What characterizes businesses with families in charge? We will focus on 3 angles in the overlap between the family sphere and the business sphere: Firstly business and fortunes are inherited. We examine how the heritage affects the company growth, productivity and organization form. Secondly many family entrepreneurs have a strong wish for the ownership and management to be kept within the family. How does it affect the organization of companies and organizations, when it is requested that the top management is recruited within the family? Finally many entrepreneur families hold very strong values that are often adopted by many of the family members. What is the effect of company management based on e.g. religious, cultural, family or individual values? This project will provide new knowledge of the coherence between the family and business spheres and will expand our understanding of the uniqueness of family businesses. This knowledge can be used as a basis for helping businesses in making use of their full potential and strengthen growth especially in small and medium sized businesses. Professor Morten Bennedsen will be in charge of the project and will form a strong group of international researchers from both Europe and the US.
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