Wednesday - 1:00 pm-3:00 pm - Room: Atrium

Functional Family Businesses Make more Money- Maria Marshall and Renee Wiatt

Income and perceived success are both positively affected by defining fairness according to contribution, fostering a culture that values differences of opinions, having a business that has lasted for generations, and having more employees. Family businesses that want higher perceived success can achieve it by: defining fairness by treating all family members the same, having

Wednesday - 1:00 pm-3:00 pm - Room: Atrium

Introducing the Purdue Institute for Family Business- Maria Marshall and Renee Wiatt

The Purdue Institute for Family Business (PIFB) provides multi-generational family businesses with research-based business management resources aimed at improving personal leadership performance and driving operational growth. We prepare family business owners, managers, and stakeholders (including non-owner spouses and future owners) to be effective stewards of their family enterprises. PIFB offers educational programs that address the

Wednesday - 1:00 pm-3:00 pm - Room: Atrium

Keeping the Farm Business in the Family: Examining Succession Planning among Small and Medium-sized Farm and Non-Farm Family Businesses in the Midwestern United States- Maria Marshall and Renee Wiatt

We hypothesized that the influence of factors including owner, business, and family characteristics will differ based on the primary purpose of the business. The results show that farm businesses are more likely to be kept within the family in the next generation. Based on this finding, we carry out an industry-specific analysis by dividing the