KOWALA, Radek and Jarmila DUHÁČEK ŠEBESTOVÁ. Using stewardship and agency theory to explore key performance indicators of family businesses. Forum Scientiae Oeconomia. Dąbrowa Górnicza, Poland: Wydawnictwo Naukowe Akademii WSB, 2021, vol. 9, No 4, p. 9-30. ISSN 2300-5947. Available from: https://dx.doi.org/10.23762/FSO_VOL9_NO4_1.
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Basic 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
Original language English
Type of outcome Article in a journal
Field of Study 50204 Business and management
Country of publisher Poland
Confidentiality degree is not subject to a state or trade secret
WWW URL
RIV identification code RIV/47813059:19520/21:A0000259
Organization unit School of Business Administration in Karvina
Doi http://dx.doi.org/10.23762/FSO_VOL9_NO4_1
Keywords in English KPI ; dashboards ; family business ; stewardship
Tags International impact, Reviewed
Changed by Changed by: Miroslava Snopková, učo 43819. Changed: 12/4/2022 21:29.
Abstract
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%).
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