ABSTRACT
This conclusion presents some closing thoughts on the key concepts discussed in the preceding chapters of the book. This book focuses on acknowledging and exploring family businesses in developing, emerging, and transitional economies. It examines this phenomenon from three different aspects: institutional theory, agency cost, altruism, and kinship as well as the role of ethnicity in building a successful family business. Family firms are ubiquitous and yet unique. They are heterogeneous in terms of behavior and performance. The founder of Neroli was able to create a dynamic network of entrepreneurs based on a shared ethnic identity. By expanding his altruism and trust to these entrepreneurs, he succeeded in fostering a feeling of extended family in this network, in effect creating a quasi-family. The entrepreneur creates an "institutional strategy" to create value from the developing organizational field.
