The pervasive effects of family on entrepreneurship: toward a family embeddedness perspective |
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| Affiliation: | 1. Institute for SME Management and Entrepreneurship, WU Vienna University of Economics and Business, Welthandelsplatz 1, 1020 Vienna, Austria;2. Aalto University School of Business, P.O. Box 21230, 00076 Aalto, Finland;3. Institute for Innovation, Johannes Kepler University Linz, Altenbergerstrasse 69, 4040 Linz, Austria;4. University of Jyväskylä School of Business and Economics, P.O. Box 35, 40014 Jyväskylä, Finland;5. Institute for International Management Practice, Anglia Ruskin University, East Road, Cambridge, CB1 1PT, UK |
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| Abstract: | Families and businesses have often been treated as naturally separate institutions, whereas we argue that they are inextricably intertwined. Long-term changes in family composition and in the roles and relations of family members have produced families in North America that are growing smaller and losing many of their previous role relationships. Such transformations in the institution of the family have implications for the emergence of new business opportunities, opportunity recognition, business start-up decisions, and the resource mobilization process. We suggest that entrepreneurship scholars would benefit from a family embeddedness perspective on new venture creation. |
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