The protocol and its effect on the continuity of the family business through structural equation models
DOI:
https://doi.org/10.1344/jesb2019.1.j057Keywords:
Family Businesses, Family Protocol, Structural Equation Models-SEMAbstract
Family businesses are representative of the economy in Argentina. They are characterized by a strong vocation for continuity as part of the family legacy. However, their permanence has been hindered in most cases by lack of management of the business family. The high rate of disappearance is due in most cases to family-type setbacks.
The family protocol is a tool that contributes to progress of family businesses, facilitating management of the company and the business family. The objective of this work is to find correlation among behaviour of family businesses and the family protocol as a management tool for the permanence of the family business. Structural equations models (SEM) were applied, where on the one hand, the latent variable "continuity"- which indicates the perception that members of family businesses have - was defined and on the other hand, if “having a protocol” has an implication on their endurance.
It is concluded that having a family protocol which includes the guidelines for family and business management contributes to permanence of the family business with all the benefits that this implies both for the business family itself and for the society and economy in which it is immersed.
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