Skip to main content
Log in

Factors Associated with Business and Family Success: A Comparison of Single Manager and Dual Manager Family Business Households

  • Published:
Journal of Family and Economic Issues Aims and scope Submit manuscript

Abstract

The purposes of this article are: (1) to identify internal/micro-level factors associated with perception of family and business success, and (2) to compare single manager and dual manager family business households with respect to factors that contribute to their perceptions of business and family success. The data are from a nationally representative sample of 673 family business households. Using a two-stage least squares regression procedure, the results show a unique relationship between family success and business success. Family success positively impacts business success, but not vice versa, and predictors of family and business success vary widely between household types.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Similar content being viewed by others

References

  • Becker, G. S. (1965). A theory of the allocation of time. Economic Journal, 75, 497-517.

    Google Scholar 

  • Becker, G. S. (1974). A theory of social interactions. Journal of Political Economy, 82, 1063-1094.

    Google Scholar 

  • Becker, G. S. (1981). A treatise on the family. Cambridge: Harvard University Press.

    Google Scholar 

  • Bergson, A. (1938). A reformulation of certain aspects of welfare economics. The Quarterly Journal of Economics, 52, 310-334.

    Google Scholar 

  • Campbell, A., Converse, P. E., & Rodgers, W. L. (1976). The quality of American life: Perceptions, evaluations, and satisfactions. New York: Russell Sage Foundation.

    Google Scholar 

  • Chayanov, A. (1986). A. V. Chayanov and the theory of peasant economy. Madison, WI: University of Wisconsin Press.

    Google Scholar 

  • Deacon, R. E., & Firebaugh, F. M. (1988). Family resource management: Principles and applications. Boston: Allyn and Bacon.

    Google Scholar 

  • Dess, G. G., & Robinson, R. B. Jr. (1984). Measuring organizational performance in the absence of objective measures: The case of the privately-held firm and conglomerate business unit. Strategic Management Journal, 5, 265-273.

    Google Scholar 

  • Green, S., & Pryde, P. (1989). Black entrepreneurship in America. New Brunswick, NJ: Transaction.

    Google Scholar 

  • Greene, W. H. (1993). Econometric analyses (2nd ed.). Englewood Cliffs, NJ: Prentice-Hall.

    Google Scholar 

  • Hoy, F., Dsouza, D. E., & McDougall, P. P. (1992). Strategies and environments of high growth firms. In D. L. Sexton (Ed.), State of the art in entrepreneurship research. Boston: PWS-Kent.

    Google Scholar 

  • Hoy, F., & Verser, T. G. (1994). Emerging business, emerging field: Entrepreneurship and the family firm. Entrepreneurship Theory and Practice, 19(1), 9-24.

    Google Scholar 

  • Kalleberg, A. L., & Leicht, K. T. (1991). Gender and organizational performance: Determinants of small business survival and success. Academy of Management Journal, 34(1), 136-161.

    Google Scholar 

  • Kantor, R. (1977). Work and family in the United States: A critical review and agenda for research and policy. New York: Russell Sage Foundation.

    Google Scholar 

  • Keough, J., & Forbes, C. (1991). Family business: Enduring generations of change. Industrial Distribution, 80(13), 27-36.

    Google Scholar 

  • Konijn, P. A. B. K., & Plantenga, J. (1988). Characteristics explaining business success of entrepreneurs versus managers. The Journal of Behavioral Economics, 17(2), 133-142.

    Google Scholar 

  • Kotey, B. (1997). Relationships among owner/manager personal values, business strategies, and enterprise performance. Journal of Small Business Management, 35(2), 37-64.

    Google Scholar 

  • Kraut, R. W., & Grambsch, P. (1987). Home-based white collar employment: Lessons from the 1980 Census. Social Forces, 66, 410-426.

    Google Scholar 

  • Lambert, S. J. (1990). Processes linking work and family: A critical review and research agenda. Human Relations, 43, 239-257.

    Google Scholar 

  • Lansberg, I. (1983, Summer). Managing human resources in family firms. Organizational Dynamics, 12, 39-46.

    Google Scholar 

  • Lavee, Y., Sharling, S., & Katz, R. (1996). The effect of parenting stress on marital quality. Journal of Family Issues, 17(1), 114-135.

    Google Scholar 

  • Loscocco, K. A., Robinson, J., Hall, R. H., & Allen, J. K. (1991). Gender and small business success: An inquiry into women's relative disadvantage. Social Forces, 70(1), 65-85.

    Google Scholar 

  • Miner, J. B. (1997). The expanded horizon for achieving entrepreneurial success. Organizational Dynamics, 25(3), 54-67.

    Google Scholar 

  • Montalto, C. P., & Sung, J. (1996). Multiple imputation in the 1992 survey of consumer finances. Financial Counseling and Planning, 7, 133-146.

    Google Scholar 

  • Olson, D. H., McCubbin, H. I., Barnes, H. L., Larsen, A. S., Muxen, M. J., & Wilson, M. A. (1983). Families: What makes them work. Beverly Hills: Sage Publications.

    Google Scholar 

  • Orbuch, T. L., House, J. S., Mero, R. P., & Webster, P. S. (1996). Marital quality over the life course. Social Psychology Quarterly, 59, 162-172.

    Google Scholar 

  • Pindyck, R. S., & Rubinfeld, D. L. (1998). Econometric models and economic forecasts (4th ed.). New York: McGraw-Hill.

    Google Scholar 

  • Plug, E. J., & Van Praag, B. M. S. (1998) Similarity in response behavior between household members: An application to income evaluation. Journal of Economic Psychology. 19, 497-513.

    Google Scholar 

  • Rettig, K. D., & Leichtentritt, R. D. (1999). A general theory for perceptual indicators of family life quality. Social Indicators Research, 47, 307-342.

    Google Scholar 

  • Riordan, D. A., & Riordan, M. P. (1993). Field theory: An alternative to systems theory in understanding the small family business. Journal of Small Business Management, 31(2), 66-78.

    Google Scholar 

  • Rosenblatt, P. C., de Mik, L., Anderson, R. M., & Johnson, P. A. (1985). The family in business: Understanding and dealing with the challenges entrepreneurial families face. San Francisco: Jossey-Bass.

    Google Scholar 

  • Rowe, B. R., & Bentley, M. T. (1992). The impact of the family on home-based work. Journal of Family and Economic Issues, 13, 279-297.

    Google Scholar 

  • Rowe, B. R., Haynes, G. W., & Bentley, M. (1993). Economic outcomes in family-owned home-based businesses. Family Business Review, VI, 383-396.

    Google Scholar 

  • Samuelson, P. A. (1947). Foundations of economic analysis, Cambridge, MA: Harvard University Press.

    Google Scholar 

  • Thomas, D. (1997). Incomes, expenditures and health outcomes: Evidence on intrahousehold resource allocation. In H. Lawrence, J. Hoddinott, & H. Alderman (Eds.), Intrahousehold resource allocation in developing countries: Models, methods and policy (pp. 142-164). Baltimore: The Johns Hopkins University Press.

    Google Scholar 

  • Triola, M. (1992). Elementary statistics. (5th ed.). Reading, MA: Addison-Wesley Publishing Company.

    Google Scholar 

  • Voydanoff, P. (1987). Work and family life. Newbury Park, CA: Sage Publications, Inc.

    Google Scholar 

  • Winter, M., Fitzgerald, M. A., Heck, R. K. Z., Haynes, G. W., & Danes, S. M. (1998). Revisiting the study of family businesses: Methodological challenges, dilemmas, and alternative approaches. Family Business Review, XI, 239-252.

    Google Scholar 

Download references

Author information

Authors and Affiliations

Authors

Rights and permissions

Reprints and permissions

About this article

Cite this article

Masuo, D., Fong, G., Yanagida, J. et al. Factors Associated with Business and Family Success: A Comparison of Single Manager and Dual Manager Family Business Households. Journal of Family and Economic Issues 22, 55–73 (2001). https://doi.org/10.1023/A:1009492604067

Download citation

  • Issue Date:

  • DOI: https://doi.org/10.1023/A:1009492604067

Navigation