Academy of Entrepreneurship Journal (Print ISSN: 1087-9595; Online ISSN: 1528-2686)

Abstract

Do Non-Family Member Managers Enhance Venture Performance of Family Businesses Evidence from Nigeria

Author(s): Agbaeze K. Emmanuel,Nwakoby N. Peace,Onwuka M. Ebele,Chimeziem C.G. Udeze,Olayinka A. Abiodun

This study examines the enhancing effect that non-family members plays on the performance of family businesses in Nigeria. Survey design was adopted and Data was collected through structured selfstudied questionnaire designed on 5-point likert scale. The main source of data was primary and the target population consisted of owners/founders and top management staff of selected family businesses in five states of Southwest, Nigeria. A sample size of 538 was drawn from the study population of 26744 using Cronrach approach. The single hypothesis formulated was tested with Pearson product moment correlation coefficient at 0.05 level of significance. Based on the analyzed data, the study found a positive relationship between non-family member managers and venture performance among the selected firms because the former enhances the latter. It is advised that that family business in Nigeria must strive to maintain non-members of the family in the management structure so as to enjoy stellar venture performance and more business viable achievements.