This research, conducted between 2007 and 2008, focuses on the longevity of Spanish family-owned firms, compared to the longevity of non-family companies. The main question at this study is: Are family firms more long-lived than non family firms? The research has developed over two phases: a preliminary study dealing with the current reality of the Spanish companies, and subsequently a historical study examining family firms from a long term perspective. We have created our own database of more than 3,000 firms (large family owned firms and non- family owned firms), to provide solid data for the topic. This database offers an overview on the geography, specialization, and identity of large family firms in Spain. Its historical perspective helps us to identify the key factors to the survival and competitiveness of family owned firms included in the study.

The results of our research up to date shed light on several important aspects of family firms, such as:

• The average age of Spanish family-owned firms.

• Eventual strategies of survival of family firms, like internationalization, vertically integration, flexibility to innovate or commercial skills. The study also describes the diverse profiles of the surviving firms (strategies and structure).

The perceptions of the Next Generation in Spanish Family Firms Research Project is an initiative of the IESE Family Business Chair that aims to provide some insights into the perceptions, challenges and opportunities faced by the next generation members in relation to their Family Firms, such that the elders, owners, leaders and the next generation members are all better informed about how to guide the family and the business in such a way that the legacy of the past is honored, that shared values and dreams inform the leadership, and that ownership is conscious and responsible of the happiness and well-being of each member of the family business.

The objective of the research project is the following:

• To identify main trends on how members of the next generation perceive, commit and participate in their Family Businesses.

AN ADAPTATION OF THE FAMILY CLIMATE SCALES FOR USE IN SPANISH-SPEAKING FAMILY-OWNED BUSINESSES

The principal objective of the research project is to develop a Spanish version of the Family Climate Scales (FCS) questionnaire for Spanish-speaking Family Firms.  The FCS has been designed to be particularly but not exclusively used in the context of the family business.  It consists of six scales which look at: adaptability, intergenerational authority, open communication, emotional cohesion, cognitive cohesion and open communication. This instrument has proven good psychometric qualities: very high levels of internal consistency as well as high subscale intercorrelations. Analyses using structural equation modelling confirmed a six factor structure of family climate.

The adaptation of the FCS to Spanish speaking family firms will enable family business researchers to validate the scale further and to include monolingual Spanish-speakers into their studies, and should facilitate study of cross-cultural differences with respect to patterns of family climate, their meaning and other differences among family firms from different cultures.

ATTRACTING TALENT TO FAMILY-OWNED FIRMS: THE PERCEPTIONS OF MBA STUDENTS

The general image of family firms may be particularly important in the recruitment of MBA students; since to outperform non-family firms they most select people of the best calibre in their top management teams. Nevertheless, highly qualified nonfamily members may be dubious to accept a job in a family firm because they are not members of the family who owns the business and perceive limited career opportunities in this type of organizations. Likewise skilful family members may be also reluctant to join the family business as they are often concerned over how decisions are made, the access to key information, qualifications of co-workers, reluctance to change and fairness of compensation.

The objectives of the research project are the following:

• To gain a better understanding of MBA students’ perceptions of family firms when compared to non-family firms.

• To know what MBA students think about family owned businesses may be of great help especially during selection processes.

• The information regarding how MBA students see family firms may be informative for the design of MBA courses on family firms.

• There is limited research focusing on the perceptions of MBA students regarding family owned businesses, thus research on this topic must be brought to the research agenda.