ABSTRACT
Around the world, family businesses constitute a dominant form of business organization that contributes significantly to economic growth (FBN, 2008). In developing countries, family businesses emerge to address basic needs or unexplored market opportunities in a given social context, thus allowing for entrepreneurial activity to emerge (Baker et al., 2005). Family businesses remain the prevalent type of business organization in Peru, a collectivist society that embraces values that serve group interests, safeguard family security, and support social relationships (Shimizu, 2006; Lenartowicz and Johnson, 2003). Although culture is a complex and dynamic concept that defines social values, norms, and gender roles, it is also shaped by political and historical events that lead to modification of existing values, social roles, and conditions (Cheung and Halpern, 2010).
