In contrast to widespread assessments that family enterprises lack sufficient resources and capabilities to go global, many family companies are competing successfully in an increasingly globalized business environment. Worldwide, a large number of thriving multinationals are still family-owned and/or under family control. While there is abundant literature on the phenomenon of globalization from many different disciplines, neither the literature on multinationals nor the growing field of family business studies have systematically investigated family multinationals yet. This volume is one of the first to deal explicitly with family multinationals and the role of the family in internationalization. It situates itself at the crossroads of internationalization studies on the one hand and family business research on the other. Why do families continue to play such a large role in some of the most prominent firms in emerging and mature economies? How did they manage to maintain ownership control, yet divest of unrelated business ventures? How did they internationalize yet maintain control? This book identifies the idiosyncratic strategies and structures of family multinationals in different countries and at different points in time. A comparative historical and case study approach allows us to explore the role of the family through the firms' various internationalization pathways and understand long-term developments and path dependencies.

In contrast to widespread assessments that family enterprises lack sufficient resources and capabilities to go global, many family companies are competing successfully in an increasingly globalized business environment. Worldwide, a large number of thriving multinationals are still family-owned and/or under family control. While there is abundant literature on the phenomenon of globalization from many different disciplines, neither the literature on multinationals nor the growing field of family business studies have systematically investigated family multinationals yet. This volume is one of the first to deal explicitly with family multinationals and the role of the family in internationalization. It situates itself at the crossroads of internationalization studies on the one hand and family business research on the other. Why do families continue to play such a large role in some of the most prominent firms in emerging and mature economies? How did they manage to maintain ownership control, yet divest of unrelated business ventures? How did they internationalize yet maintain control? This book identifies the idiosyncratic strategies and structures of family multinationals in different countries and at different points in time. A comparative historical and case study approach allows us to explore the role of the family through the firms' various internationalization pathways and understand long-term developments and path dependencies.

In a pioneering work, Jeffrey Fear overturns the dominant understanding of German management as "backward" relative to the U.S. and uncovers an autonomous and sophisticated German managerial tradition. Beginning with founder August Thyssen--the Andrew Carnegie of Germany--Fear traces the evolution of management inside the Thyssen-Konzern and the Vereinigte Stahlwerke (United Steel Works) between 1871 and 1934.

Fear focuses on the organization and internal dynamics of the company. He demonstrates that initiatives often flowed from middle managers, rather than from the top down. Shattering stereotypes of the overly bureaucratic and rigid German firm, Fear portrays a decentralized and flexible system that underscores the dynamic and entrepreneurial nature of German business. He fundamentally revises the scholarship on Alexander Gerschenkron and Germany's Sonderweg, and critiques Max Weber's concept of the corporation and capital accounting. He develops a loosely coupled relationship among enterprise strategy, organization, the structure of responsibility, and its accounting system, which links information, knowledge, and power inside the firm. This method of organizing control is central to understanding corporate governance.

Original and provocative, this work will generate much debate among historians, organizational theorists, and management and accounting scholars.