2005/04/22 by Sabine B. Klein, Joseph H. Astrachan, Kosmas X. Smyrnios
Business, Management and Accounting · #Corporate Finance and Governance #Entrepreneurship Studies and Influences #Family Business Performance and Succession
paper · doi:10.1111/j.1540-6520.2005.00086.x
openalex publication_date 2005/04/22 · openalex created_date 2025/10/10 · openalex updated_date 2026/08/01
For a solution to the family business definition dilemma, we propose the application of a scale that assesses the extent and the quality of family influence via the measurement of three dimensions: Power, Experience, and Culture. The Family Influence on Power, Experience, and Culture (F–PEC) scale is tested rigorously, utilizing a sample of more than 1,000 randomly selected companies, through the application of exploratory and confirmatory factor analytic techniques. The scale demonstrates high levels of reliability. F–PEC has been applied in a number of studies, contributing to theory development, particularly in terms of the impact of family influence on distinct resources, and as a source of competitive advantage.