This study reviews the literature on advising family firms and integrates past contributions in such a way that scholars can use the findings as a foundation to launch future research. It reviews 105 articles and other research contributions published since 1983. The findings suggest that although advisors play a crucial role within family firms, there remains to date a lack of rigorous academic research. These past contributions are integrated into a framework that provides a first step toward developing theoretical arguments and charting directions for future research that address the nature of the family firm–advisor relationship.
AdendorffC.BoshoffC.CourtP.RadloffS. (2005). The impact of planning on good governance practices in South African Greek family businesses. Management Dynamics, 14(4), 34-46.
2.
AlderferC. (1988). Understanding and consulting to family business boards. Family Business, Review, 1, 249-261.
3.
AronoffC. E. (1998). Megatrends in family business. Family Business Review, 11, 181-186.
4.
AstrachanJ. H.AstrachanB. M. (1996). Family business: The challenges and opportunities of interprofessional collaboration. In AronoffC. E.AstrachanJ. H.WardJ. L. (Eds.), Family business sourcebook II (pp. 535-546). Marietta, GA: Business Owner Resources.
5.
AstrachanJ. H.McMillanK. S. (2006). United States. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 347-363). Binghamton, NY: International Business Press.
6.
AyresG. R. (1998). Rough corporate justice. Family Business Review, 11, 91-106.
7.
BabickyJ. (1987). Consulting to the family business. Journal of Management Consulting, 3(4), 25-32.
8.
BacharachS. B. (1989). Organizational theories: Some criteria for evaluation. Academy of Management Review, 14, 496-515.
9.
BakerK. G.WisemanK. K. (1998). Leadership, legacy, and emotional process in family business. Family Business Review, 11, 207-213.
10.
BammensY.VoordeckersW.GilsA. V. (2008). Boards of directors in family firms: A generational perspective. Small Business Economics, 31, 163-180.
11.
BarachJ. A. (1984). Is there a cure for the paralyzed family board?Sloan Management Review, 26, 3-12.
12.
BauerT. N.GreenS. G. (1996). Development of leader-member exchange: A longitudinal test. Academy of Management Journal, 39, 1538-1567.
13.
BeckhardR.DyerG. W.Jr. (1983). Managing continuity in the family-owned business. Organizational Dynamics, Summer, 5-12.
14.
BlankS. J. (1987). Leon Danco: Family business “shrink”. Management Review, 76(7), 16-19.
15.
BlumentrittT. (2006). The relationship between boards and planning in family businesses. Family Business Review, 19, 65-72.
16.
BorkD. (1993). Family business, risky business: How to make it work. Aspen, CO: Bork Institute for Family Business.
17.
BorkD. (2006). Turkey. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 293-317). Binghamton, NY: International Business Press.
18.
BorkD.JaffeD.LaneS.DashewL.HeilserQ. (1996). Working with family businesses. San Francisco, CA: Jossey-Bass.
19.
BoydJ.UptonN.WircenskiM. (1999). Mentoring in family firms: A reflective analysis of senior executives’ perceptions. Family Business Review, 12, 299-309.
20.
BrownF. H. (1998). The “softer side” of consulting to business-owning families: Understanding our clients and ourselves. Family Business Review, 11, 193-205.
21.
BudgeG. S.JanoffR. W. (1991). Interpreting the discourses of family business. Family Business Review, 4, 367-381.
22.
ChrismanJ. J.ChuaJ.LitzR. (2004). Comparing the agency costs of family and non-family firms: Conceptual issues and exploratory evidence. Entrepreneurship Theory and Practice, 28, 335-354.
23.
ChrismanJ. J.ChuaJ.SharmaP. (2005). Trends and directions in the development of a strategic management theory of the family firm. Entrepreneurship Theory and Practice, 29, 555-576.
24.
ChrismanJ. J.ChuaJ.SharmaP.YoderT. (2009). Guiding family businesses through the succession process. CPA Journal, 79(6), 48-51.
25.
ChrismanJ. J.McMullanW. E. (2000). A preliminary assessment of outsider assistance as a knowledge resource: The longer-term impact of new venture counseling. Entrepreneurship Theory and Practice, 24(3), 37-53.
26.
ChuaJ. H.ChrismanJ. J.SharmaP. (2003). Succession and nonsuccession concerns of family firms and agency relationship with nonfamily managers. Family Business Review, 16, 89-107.
27.
CorbettaG.SalvatoC. A. (2004). The board of directors in family firms: One size fits all?Family Business Review, 17, 119-134.
28.
CorbettaG.TomaselliS. (1996). Boards of directors in italian family businesses. Family Business Review, 9, 403-421.
29.
DashewL. (1996). Marketing to family business checklist. Journal of Accountancy, 181(5), 10-11.
30.
DennisA. (1993). Taming the wild client. Journal of Accountancy, 176(5), 67-70.
31.
DonckelsR.LambrechtJ. (1999). The re-emergence of family-based enterprises in East Central Europe: What can be learned from family business research in the Western world?Family Business Review, 12, 171-188.
32.
DreuxD. R.IV. (1990). Financing family business: Alternatives to selling out or going public. Family Business Review, 3, 225-242.
33.
DrozdowN. (1998). What is continuity?Family Business Review, 11, 337-348.
34.
DyerW. G.Jr.SánchezM. (1998). Current state of family business theory and practice as reflected in Family Business Review 1988-1997. Family Business Review, 11, 287-296.
35.
EisenhardtK. M. (1989). Making fast strategic decision in high-velocity environments. Academy of Management Journal, 32, 543-576.
36.
Fahed-SreihJ. (2006). Lebanon. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 203-222). Binghamton, NY: International Business Press.
37.
Fahed-SreihJ.DjoundourianS. (2006). Determinants of longevity and success in Lebanese family businesses: An exploratory study. Family Business Review, 19, 225-234.
38.
FelthamT. S.FelthamG.BarnettJ. (2005). The dependence of family businesses on a single decision-maker. Journal of Small Business Management, 43, 1-15.
39.
FlemonsD. G.ColeP. M. (1992). Connecting and separating family and business: A relational approach to consultation. Family Business Review, 5, 257-269.
40.
GersickK. E.DavisJ.HamptonM.LansbergI. (1997). Generation to generation: Life cycles of the family business. Boston, MA: Harvard Business School Press.
41.
Gillis-DonovanJ.Monyihan-BradtC. (1990). The power of invisible women in the family business. Family Business Review, 3, 153-167.
42.
GoodmanJ. M. (1998). Defining the new professional: The family business counselor. Family Business Review, 11, 349-354.
43.
GrubmanJ.JaffeD. T. (2010). Client relationships and family dynamics: Competencies and services necessary for truly integrated wealth management. Journal of Wealth Management, 13(1), 16-31.
44.
HamiltonS. (1992). Research note: A second family business—Patterns in wealth management. Family Business Review, 2, 181-188.
45.
HassidJ.MagginaA. (1993). Management consulting in Greece: The profession is growing. Journal of Management Consulting, 7(4), 55-57.
46.
HaynesJ. M.UsdinT. M. (1997). Resolving family business disputes through mediation. Family Business Review, 10, 115-134.
47.
HeidrickG. W. (1988). Selecting outside directors. Family Business Review, 1, 271-277.
48.
Hilburt-DavisJ.DyerW. G. (2003). Consulting to family businesses: A practical guide to contracting, assessment, and implementation. San Francisco, CA: Jossey-Bass/Pfeiffer.
49.
Hilburt-DavisJ.DyerW. G. (2006). The Hilburt-Davis/Dyer consulting model. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 73-93). Binghamton, NY: International Business Press.
50.
Hilburt-DavisJ.SenturiaP. (1995). Using the process/content framework: Guidelines for the content expert. Family Business Review, 8, 189-199.
51.
HoranP. J. (2003). Establishing an advisory board for the family business. Journal of Financial Service Professionals, 57(6), 61-65.
52.
HublerT. M. (1998). Family business consultants as leaders. Family Business Review, 11, 187-192.
53.
JaffeD. T.DashewL.LaneS.PaulJ.BorkD. (2006). The Aspen Family Business Group consulting process: A model for deep structural change and relationship shift in complex multi-generational enterprising family systems. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 47-72). Binghamton, NY: International Business Press.
54.
JaffeD. T.LaneS. H. (2004). Sustaining a family dynasty: Key issues facing complex multigenerational business- and investment-owning families. Family Business Review, 17, 81-98.
55.
JaffeD. T.LaneS.DashewL.BorkD. (1997). The CPA as family adviser. Journal of Accountancy, 183(5), 42-50.
56.
JohnsonJ.JonesM.LeachP.MartinF. (2006). United Kingdom. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 319-346). Binghamton, NY: International Business Press.
57.
JonovicD. J. (1989). Outside review in a wider context: An alternative to the classic board. Family Business Review, 2, 125-140.
58.
JungeD. (2006). Economic change viewed through the family office window: The multifamily office in a changing global economy. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 367-384). Binghamton, NY: International Business Press.
59.
KadisL. B.McClendonR. (2006). Preserving the family business: An interpersonal model for reconciling relationships. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 95-111). Binghamton, NY: International Business Press.
60.
KarofskyP. I. (2000). Interview with Sampath Durgadas. Family Business Review, 13, 339-344.
61.
KaslowF. W. (1993). The lore and lure of family business. American Journal of Family Therapy, 21, 3-16.
62.
KaslowF. W. (2006). Brief history of the Family Firm Institute. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 3-24). Binghamton, NY: International Business Press.
63.
KayeK. (1991). Penetrating the cycle of sustained conflict. Family Business Review, 4, 21-44.
64.
KayeK. (1996). When the family business is a sickness. Family Business Review, 9, 347-368.
65.
KayeK. (1998). Happy landings: The opportunity to fly again. Family Business Review, 11, 275-280.
66.
KayeK.HamiltonS. (2004). Roles of trust in consulting to financial families. Family Business Review, 17, 151-163.
67.
KerrM.BowenM. (1988). Family evaluation. New York, NY: Norton.
68.
KimJ.-H. (2006). Korea. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 179-202). Binghamton, NY: International Business Press.
69.
KoiranenM. (2003). Understanding the contesting ideologies of family business: Challenge for leadership and professional services. Family Business Review, 16, 241-250.
70.
KrasnowH. C.WolkoffR. L. (1998). Three proposals for interdisciplinary study. Family Business Review, 11, 267-274.
71.
LaChapelleK.BarnesL. B. (1998). The trust catalyst in family-owned businesses. Family Business Review, 11, 1-17.
72.
LambrechtJ.LievensJ. (2008). Pruning the family tree: An unexplored path to family business continuity and family harmony. Family Business Review, 21, 295-313.
73.
LaneS. H. (1989). An organizational development/team-building approach to consultation with family businesses. Family Business Review, 2, 5-16.
74.
LankA. G.ThomassenA. J. (1991). Introducing the family business network. Family Business Review, 4, 225-230.
75.
LansbergI. (1983). Managing human resources in family firms: The problem of institutional overlap. Organizational Dynamics, 12(1), 39-46.
76.
LansbergI.PerrowE. (1991). Understanding and working with leading family businesses in Latin America. Family Business Review, 5, 127-147.
77.
LeeS. H.PhanP.YoshikawaT. (2008). The role of the board and its interaction with the successor’s human capital in the Asian family enterprise. Multinational Business Review, 16(2), 65-88.
78.
LesterR. H.CannellaA. A.Jr. (2006). Interorganizational familiness: How family firms use interlocking directorates to build community-level social capital. Entrepreneurship Theory and Practice, 30, 755-775.
79.
LevinsonH. (1983). Consulting with family businesses: What to look for, what to look out for. Organizational Dynamics, 12(1), 71-80.
80.
MassMutual Financial Group, Kennesaw State University, and Family Firm Institute. (2007, October). American Family Business Survey. Springfield, MA: Author.
81.
MathieuE.StrasslerP.PearlN. (2010). Finding and retaining the right advisor for a family and its family office. Journal of Wealth Management, 13(3), 15-18.
82.
MathileC. L. (1988). A business owner’s perspective on outside boards. Family Business Review, 1, 231-237.
83.
McDonaldM. L.KhannaP.WestphalJ. D. (2008). Getting them to think outside the circle: Corporate governance, CEOs’ external advice networks, and firm performance. Academy of Management Journal, 51, 453-475.
84.
McDonaldM. L.WestphalJ. D. (2003). Getting by with the advice of their friends: CEOs’ advice networks and firms strategic responses to poor performance. Administrative Science Quarterly, 48, 1-32.
85.
MelloD. N. (2006). Brazil. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 95-111). Binghamton, NY: International Business Press.
86.
MetzgerR. (1988). Guidelines for tomorrow’s consultants. Journal of Management Consulting, 4(4), 13-18.
87.
MitchellR. K.MorseE.SharmaP. (2003). The transacting cognitions of nonfamily employees in the family businesses setting. Journal of Business Venturing, 18, 533-551.
88.
Moncrief-StuartS. L.PaulJ.CraigJ. (2006). Working with families in business: A content validity study of the Aspen Family Business Inventory. In PoutziourisP. Z.SmyrniosK. X.KleinS. B. (Eds.), Handbook of research on family business (pp. 215-235). Northampton, MA: Edward Edgar.
89.
MontgomeryB. J.SinclairA. M. (2000). All in the family. Business and Economic Review, 46, 3-7.
90.
MuellerR. K. (1988). Differential directorship: Special sensitivities and roles for serving the family business board. Family Business Review, 1, 239-247.
91.
MustakallioM.AutioE.ZahraS. (2002). Relational and contractual governance in family firms: Effects on strategic decision making. Family Business Review, 15, 205-223.
92.
NashJ. M. (1988). Boards of privately held companies: Their responsibilities and structure. Family Business Review, 1, 263-269.
93.
NawrockiT. (2005). Family affair: The emotional issues of succession planning. Journal of Financial Planning, 18(7), 34-39.
94.
NicholsonH.ShepherdD.WoodsC. (2010). Advising New Zealand’s family businesses: Current issues and opportunities. University of Auckland Business Review, 12(1), 1-7.
95.
Pare-JulienD. (2006). Canada. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 133-150). Binghamton, NY: International Business Press.
96.
PaulJ.MunajjedZ.AlacakliogluH. (2006). Saudi Arabia. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 237-258). Binghamton, NY: International Business Press.
97.
PegE. (1996). Lessons, legends and legacies: Serving the family business. Journal of Financial Planning, 9(6), 76-79.
98.
PozaE.JohnsonS.AlfredT. (1998). Changing the family business through action research. Family Business Review, 11, 311-323.
99.
PozaE. J.HanlonS.KishidaR. (2004). Does the family business interaction factor represent a resource or a cost?Family Business Review, 17, 99-118.
100.
PozaE. J.MesserT. (2001). Spousal leadership and continuity in the family firm. Family Business Review, 14, 25-36.
101.
PrinceR. A. (1990). Family business mediation: A conflict resolution model. Family Business Review, 3, 209-223.
102.
RahaelA. (2006). Trinidad and Tobago. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 277-292). Binghamton, NY: International Business Press.
103.
RueL. W.IbrahimN. A. (1996). The status of planning in smaller family-owned business. Family Business Review, 9, 29-43.
104.
SchipaniC. A.SiedelG. J. (1988). Legal liability: The board of directors. Family Business Review, 1, 279-285.
SharmaP. (2004). An overview of the field of family business studies: Current status and directions for the future. Family Business Review, 17, 1-36.
107.
SundaramurthyC. (2008). Sustaining trust within family businesses. Family Business Review, 21, 89-102.
108.
SundaramurthyC.DeanM. (2008). Family businesses’ openness to external influence & international sales: An empirical examination. Multinational Business Review, 16(2), 89-106.
109.
SwaimM. (2004). Wealthy client advisor. Journal of Tax Practice Management, 3(1), 9-10.
110.
SwartzS. (1989). The challenges of multidisciplinary consulting to family-owned businesses. Family Business Review, 2, 329-339.
111.
TagiuriR.DavisJ. A. (1996). Bivalent attributes of the family firm. Family Business Review, 9, 199-208. (Reprinted from Working paper, 1982, Cambridge, MA: Harvard Business School)
112.
ThomasJ. (2002). Freeing the shackles of family business ownership. Family Business Review, 15, 321-336.
113.
TillmanF. A. (1988). Commentary on legal liability: Organizing the advisory council. Family Business Review, 1, 287-288.
114.
UptonN.VintonK.SeamanS.MooreC. (1993). Research note: Family business consultants—Who we are, what we do, and how we do it. Family Business Review, 6, 301-311.
115.
VagoM. (1998). Multiple roles in serving families in business. Family Business Review, 11, 261-266.
VagoM. (2006). International expansion of family business consultation: Consulting in different countries. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 25-44). Binghamton, NY: International Business Press.
118.
WardJ. L. (1988). The active board with outside directors and the family firm. Family Business Review, 1, 223-229.
119.
WardJ. L. (1990). Should we professionalize family business consulting? A commentary. Family Business Review, 3, 263-265.
120.
WardJ. L. (2000). Reflections on Indian family groups. Family Business Review, 13, 271-278.
121.
WardJ. L.HandyJ. L. (1988). A survey of board practices. Family Business Review, 1, 289-308.
122.
WeirR. (1996). Will McWhinney: Family business therapy for family business. In AronoffC. E.AstrachanJ. H.WardJ. L. (Eds.), Family business sourcebook II (pp. 324-330). Marietta, GA: Business Owner Resources.
123.
WestphalJ. D. (1999). Collaboration in the boardroom: The consequences of social ties in the CEO/board relationship. Academy of Management Journal, 42, 7-24.
124.
WhislerT. L. (1988). The role of the board in the threshold firm. Family Business Review, 1, 309-321.
125.
WhiteP. E. (2007). Hidden dragons: Handling family conflicts in buy-sell agreements for business succession. Journal of Financial Planning, 20(1), 70-76.
126.
YanJ.SorensonR. (2006). The effect of Confucian values on succession in family business. Family Business Review, 19, 235-250.
127.
YinR. (1989). Case study research: Design and methods. Beverly Hills, CA: SAGE.
128.
YunisJ. J. (2006). Chile. In KaslowF. W. (Ed.), Handbook of family business & family business consultation: A global perspective (pp. 151-164). Binghamton, NY: International Business Press.
Supplementary Material
Please find the following supplemental material available below.
For Open Access articles published under a Creative Commons License, all supplemental material carries the same license as the article it is associated with.
For non-Open Access articles published, all supplemental material carries a non-exclusive license, and permission requests for re-use of supplemental material or any part of supplemental material shall be sent directly to the copyright owner as specified in the copyright notice associated with the article.
