August 8, 2019
STEP Project is excited to welcome its newest member; University of Siegen, Germany. The Siegen team is led by distinguished Professor Dr. Petra M. Moog who currently holds the Chair for Entrepreneurship and Family Business. Professor Moog leads an exceptional team of academics that focuses strongly on researching family business as a main pillar of the German economy, defined often as German Mittelstand, embracing SMEs and entrepreneurship activities.
The Siegen team’s research focus is threefold in the context of understanding multigenerational family business. All three research lines are shedding light on the sustainability and strategical decisions made in family firms over generations, touching three kinds of antecedents or resources for the long-term success of family firms: a) the individual values of owners and family members as well as potential successors, the group/family level values and finally the company values, b) the social capital of the owners and c) the role of accounting and control systems in professionalizing and sustaining family firms. Professor Moog shared, right now within these three lines of research, they are mostly interested in how values and social capital on an individual, family group and at company level and accounting and control systems develop over time. Moreover, how these aspects can be used for successful generational succession, delivering a highly positive impact and effects on decisions and strategy, to make family businesses more successful and sustainable. She goes on to say, that their vision is to analyze values, social capital and accounting and control systems not only in regard to German family business, but in an international comparison.
The STEP team from Siegen looks forward to future collaborations with members of the STEP community and contributing to the research of transgenerational entrepreneurship.