Influence of Family Representation in Family Business

Abstract:

Family business has grown in importance recently and is one of the fundamental pillars of every economy around the world. The influence of family members is crucial in maintaining the level of family involvement in the family business. The research aims to evaluate the dependencies of six aspects in selected family businesses in the Czech Republic. The study has several findings from the family survey in the Czech Republic. The results of the correlation analysis confirm that there is the highest indirect dependence between the number of directors and the number of family members actively involved in family business. On the other hand, some factors do not show dependence. An example of this is as evidenced by the relationships between the number of members of the board of directors or managing directors and the number of family members who are not interested in family business. In addition to methods of analysis, synthesis, and comparison, correlation analysis methods are also used.