n Management Dynamics : Journal of the Southern African Institute for Management Scientists - The impact of family harmony on governance practices in South African Greek family businesses
|Article Title||The impact of family harmony on governance practices in South African Greek family businesses|
|© Publisher:||Southern African Institute for Management Scientists (SAIMS)|
|Journal||Management Dynamics : Journal of the Southern African Institute for Management Scientists|
|Author||Chris Adendorff, Elmarie Venter and Christo Boshoff|
|Publication Date||Jan 2008|
|Pages||28 - 44|
In this study a theoretical model exploring the relationship between family harmony and good corporate governance was empirically tested among Greek family businesses. The empirical results indicate that Perceived Good Governance practices are positively influenced by the Profitability of the business. There are, however, no significant relationships between the factors Family Harmony, Family Commitment and Communication and Family Trust and Respect, and the dependent variable Perceived Good Governance. The latent variable Profitability is positively influenced by Family Harmony, indicating that the more harmonious family relationships are, the more likely it is that the business will be profitable. In the same manner, the variable Family Commitment and Communication is positively influenced by both Family Harmony and by Family Trust and Respect. In other words, the more harmony and trust there is in the family, the more likely it is that the family members will have a commitment to each other and the business, characterised by effective communication.
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