Between Kinship and Commerce: Fiduciaries and the Institutional Logics of Family Firms
研究亲属关系与商业制度如何在家族企业中融合，发现外部顾问（受托人）能作为家族替代者，在代际传承中维持企业作为商业实体和亲属群体的双重属性。
In this study we explore how the institutions of kinship and commerce are integrated within family businesses. Previous research shows that family firms’ characteristic synthesis of institutional logics often unravels during intergenerational successions; however, it remains unclear how this process can be arrested, or by whom. Through inductive analysis, we offer a novel insight: outside advisors can act as surrogates for family in this integrative role. Specifically, we identify fiduciaries—professionals with special client obligations—as key actors in preserving family firms’ viability as commercial enterprises and kinship groups. Our findings contribute to theories of family businesses, professions, and institutions.