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The Effect of Cultural Values on Family Business Performance

Francis Egorp Obi , Obeten Francies Kebe

Abstract

The study examined the effect of cultural values on family business performance in Cross River State. The study specifically examined the effect of communalism and extended family obligations, respect for elders and traditional leadership, religious and ethical values, and attitude toward risk-taking on family business performance. The study utilized a cross-sectional survey approach to examine the relationship amongst the variables under study. Data for the study was gathered from primary source using a structured questionnaire. Multiple regression statistical analysis was employed to test the hypotheses. Based on the analysis, the study revealed that communalism and extended family obligations, respect for elders and traditional leadership, religious and ethical values, and attitude toward risk-taking and innovation influence family businesses performance. The study therefore recommended that family businesses should formally structure kinship, age- grade, and religious networks to access startup capital, skilled labor, and market linkages. Creating a family-community advisory board can help convert informal support into sustainable business partnerships without overburdening family members. Also, that family business should involve elders and traditional rulers in strategic advisory roles for conflict resolution, succession planning, and legitimacy building. This preserves respect for hierarchy while preventing delays by separating advisory roles from daily operations

References

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