21st World Business Congress, Helsinki, Finland, 4 - 08 July 2012, vol.21, pp.458-460
The objective of this paper is to explore the relationships between leadership styles and decision making processes at sibling partnership stages in family businesses. Based on primary and secondary data of two Turkish family firms, we compared the decision making processes in two family businesses which have different cultures and different leadership characteristics through the investigation on their bank loaning, risk taking, self-financing, foreign investment and diversification decisions. In line with our expectations, results show that quasi-founder leaders take business decisions easier than egalitarian leaders in family businesses. Family firms need the founder-like leaders or an institutionalized organization at sibling partnership stage on the basis of siblings' orientations and family business culture.