Trust and reputation in family businesses: A systematic literature review of past achievements and future promises

Abstract

Family businesses have traditionally been recognised for their trustworthiness and reputation. Interestingly, the extant literature suggests the influence of reputation and trust on family businesses’ long-term financial success. However, despite the increasing attention the topic has received, a comprehensive overview of trust and reputation in family businesses remains lacking. The current study aims to critically examine and review the extant research on trust and reputation in the context of family businesses and uncover current research trends and future research opportunities. We identified and critically analysed 93 studies through a stringent search protocol and content analysis to achieve the research objective. Based on thematic analysis, we identified four clusters reflecting family business research on trust and reputation. The key outcome is the elucidation of research themes and potential research questions exploring drivers and consequences of trust and reputation. The findings indicate that trust and reputation are crucial for developing relationships with stakeholders and achieving economic and non-economic goals. We integrate our findings into a theoretical framework that can serve to motivate future research. We conclude by clarifying the limitations of our research, offering actionable implications for researchers and family business managers and attempting theory development by raising new research questions.