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Strategic Planning in the Family Business: Dealing with the Principal-Agent Dilemma

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Financial Management of Family Businesses

Part of the book series: Contributions to Finance and Accounting ((CFA))

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Abstract

In established family businesses, the owner family has usually shaped the company culture, the basic strategic direction and the company values for decades or sometimes even more than a century. As a rule, this is also associated with a long-term, clear orientation, which can be evaluated as a success factor of family businesses. This is also confirmed, for example, by an empirical study of Austrian family businesses (Pernsteiner & Weclawaski, 2016, p. 246).

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References

  • Feldbauer-Durstmüller, B./Haas, Th./Mühlbock, S. (2008). Controlling in Familienunternehmen – Eine empirische Betrachtung, CFO aktuell: Zeitschrift für Finance & Controlling, 02/2008, pp. 198–202.

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  • Gabriel, T. (2007). Erfolgreiche Strategieumsetzung. CFO aktuell: Zeitschrift für Finance & Controlling, 01/2007, 27–30.

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  • Grosser, B. (2016). Asymetrische Informationsverteilung. Controlling: Zeitschrift für erfolgsorientierte Unternehmenssteuerung, 07/2016, 27–28.

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  • Pernsteiner, H., & Weclawaski, J. (2016). Zum Einfluss der Familie auf das Finanzmanagement. CFO aktuell: Zeitschrift für Finance & Controlling, 06/2016, 245–248.

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Authors and Affiliations

  1. CFO Vaillant Group, Remscheid, Germany

    Stefan Borchers

Authors
  1. Stefan Borchers
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Correspondence to Stefan Borchers .

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Editors and Affiliations

  1. Center for Family Business, University of St.Gallen, St. Gallen, St. Gallen, Switzerland

    Thomas Zellweger

  2. FBXperts AG, Zurich, Switzerland

    Patricio Ohle

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© 2023 The Author(s), under exclusive license to Springer Fachmedien Wiesbaden GmbH, part of Springer Nature

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Borchers, S. (2023). Strategic Planning in the Family Business: Dealing with the Principal-Agent Dilemma. In: Zellweger, T., Ohle, P. (eds) Financial Management of Family Businesses. Contributions to Finance and Accounting. Springer Gabler, Wiesbaden. https://doi.org/10.1007/978-3-658-42212-7_21

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  • DOI: https://doi.org/10.1007/978-3-658-42212-7_21

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  • Publisher Name: Springer Gabler, Wiesbaden

  • Print ISBN: 978-3-658-42211-0

  • Online ISBN: 978-3-658-42212-7

  • eBook Packages: Economics and FinanceEconomics and Finance (R0)

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