The objective of this study was to examine First-Generation Family Firms (1GFFs),
Second-Generation Family Firms (2GFFs) and Third-Generation Family Firms (3GFFs)
in a multi-factor and multi-dimensional analysis, building upon the more limited-focused
hypotheses, propositions and findings of previous researchers, and also upon an earlier
study (Sonfield & Lussier, 2002). Sonfield and Lussier used a smaller and less-evenly
distributed sample, only 13 1GFF, and a univariate one-way ANOVA statistical analysis.
The findings of this study should expand our understanding of possible similarities and
differences between first-generation and subsequent-generation family businesses. This
in turn might enable family firm owner-managers to better understand and administer
their businesses, might allow researchers to better focus their future investigations into
generational categories as separate entities, and also might strengthen the effectiveness of
advisors, consultants, and others who assist family businesses by allowing them to better
differentiate between their 1GFF, 2GFF and 3GFF clients.
The existing literature occasionally compares first-generation versus subsequent
generation family firms, but very rarely differentiates between second, third or further
generations. This study extends this limited theoretical analysis further. If a 2GFF differs
from a 1GFF, then does a 3GFF differ from a 2GFF in the same manner and to a further
degree?
The objective of this study was to examine First-Generation Family Firms (1GFFs),
Second-Generation Family Firms (2GFFs) and Third-Generation Family Firms (3GFFs)
in a multi-factor and multi-dimensional analysis, building upon the more limited-focused
hypotheses, propositions and findings of previous researchers, and also upon an earlier
study (Sonfield & Lussier, 2002). Sonfield and Lussier used a smaller and less-evenly
distributed sample, only 13 1GFF, and a univariate one-way ANOVA statistical analysis.
The findings of this study should expand our understanding of possible similarities and
differences between first-generation and subsequent-generation family businesses. This
in turn might enable family firm owner-managers to better understand and administer
their businesses, might allow researchers to better focus their future investigations into
generational categories as separate entities, and also might strengthen the effectiveness of
advisors, consultants, and others who assist family businesses by allowing them to better
differentiate between their 1GFF, 2GFF and 3GFF clients.
The existing literature occasionally compares first-generation versus subsequent
generation family firms, but very rarely differentiates between second, third or further
generations. This study extends this limited theoretical analysis further. If a 2GFF differs
from a 1GFF, then does a 3GFF differ from a 2GFF in the same manner and to a further
degree?
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