Family and business stewardship in a third generation South Korean family business, Journal of Small Business Innovation
Using Davis. Donaldson and Schoorman 's (1997) conceptual stewardship theory arguments, in this exploratory research we cautiously progress from theory development to theory testing and examine the application of stewardship theory concepts in a third generation South Korean family business. We explore how this family business has been able to successfully transition leadership on multiple occasions and examine ways in which agency costs are ameliorated by stewardship theory rooted initiatives. We respond lo researchers who have contributed to the development of stewardship theory and who are united in their call for studies that validate the conceptual principles developed over the past two decades.
Justin B. Craig, H. Lee
Craig, B. Justin, and H. Lee. 2013. Family and business stewardship in a third generation South Korean family business. Journal of Small Business Innovation. 2: 1-16.