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Apr 1, 2011 12:00 PM
Is Blood Thicker Than Water?
Family businesses are different from other businesses. Besides unique estate tax, succession and governance issues, family businesses must also deal effectively with past, present and future family members, family values and the inevitable family politics. Fortunately, dealing with these challenges gives family businesses a significant competitive advantage. A family business' special competitive weapon is its family culture, which opens communication, streamlines decisionmaking and creates an environment with strong standards and values.
A recent study published in the November 2010 issue of Entrepreneurship Theory and Practice (vol. 34, issue 6, pps. 1093-1116), “Is Blood Thicker Than Water? A Study of Stewardship Perceptions In Family Business,” by James H. Davis, Mather R. Allen and H. Davis Hayes, examines one aspect of family business culture: the stewardship behavior of the family business leadership.
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Topics of Interest
| Estate Tax | Donor Advised Funds |
| GSTs | Family Offices |
| Private Foundations | Life Insurance |
| 2010 Tax Act News | Industry Trends Surveys |
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