Professionalization maturity in Hungarian family firms
DOI:
https://doi.org/10.14267/VEZTUD.2025.05.03Keywords:
family firms, professionalization, factor analysis, professionalization maturityAbstract
Both international and domestic articles have attempted to operationalize the concept of professionalization, but many studies have failed to identify professionalization at the level of variables. This study presents the decomposition of family business professionalization into sub-dimensions using a principal component analysis. Based on the results of factor analysis, it creates a professionalization index that is suitable for measuring the maturity of family firms. For this research, the authors used the Corvinus Centre of Family Business’s database, which was created through a questionnaire between March and April 2024. The study identified and confirmed the four main subdimensions of family business professionalization and revealed 21 new components. The empirical results indicate that large family firms already have a relatively high professionalization index, while small and medium-sized have the most progress to make in the dimension of family-business relations.
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