Detailed Information on Publication Record
2021
Using stewardship and agency theory to explore key performance indicators of family businesses
KOWALA, Radek and Jarmila DUHÁČEK ŠEBESTOVÁBasic information
Original name
Using stewardship and agency theory to explore key performance indicators of family businesses
Authors
KOWALA, Radek (203 Czech Republic, guarantor, belonging to the institution) and Jarmila DUHÁČEK ŠEBESTOVÁ (203 Czech Republic, belonging to the institution)
Edition
Forum Scientiae Oeconomia, Dąbrowa Górnicza, Poland, Wydawnictwo Naukowe Akademii WSB, 2021, 2300-5947
Other information
Language
English
Type of outcome
Článek v odborném periodiku
Field of Study
50204 Business and management
Country of publisher
Poland
Confidentiality degree
není předmětem státního či obchodního tajemství
References:
RIV identification code
RIV/47813059:19520/21:A0000259
Organization unit
School of Business Administration in Karvina
Keywords in English
KPI ; dashboards ; family business ; stewardship
Tags
International impact, Reviewed
Změněno: 12/4/2022 21:29, Miroslava Snopková
Abstract
V originále
hroughout the life cycle in business, family businesses face significant management challenges, one of which is looking for a successor in the next generation or passing on management to managers. If an entrepreneur decides to hire an external manager, he has two options: stewardship or agency theory. The purpose of this article is to evaluate how the use of stewardship theory and agency theory could improve the use of key performance indicators in a family business. The proposals are based on a field survey of 323 business owners conducted in 2020, when the dominance of the stewardship theory was confirmed. Cluster analysis was used to identify factors, with the basic premise being to reinvest profits and identify common characteristics. In addition, a checklist of seven key performance indicators with weighting score lists was provided for evaluation. The most important areas were revealed to be the logistics system (43.89%), current assets related to liquidity (15.33%), and cost management (9.54%).