Research to focus on: family companies, their culture and ownership
The Technical University of Munich (TUM) is the future home of the "EQUA Endowed Chair for the Study of Family Companies, Their Culture and Ownership." At the interface between the economic sciences, sociology and psychology, the EQUA Foundation will provide a total of 3.8 million euros in funding, initially for six years, for interdisciplinary research on the sustainable, future-ready development of family-owned companies with their specific working culture.
The endowment agreement was signed today by Dr. Ulrich Wacker, the chairman of the EQUA Executive Board, and Thomas F. Hofmann, the President of TUM. The chair, which will be part of the TUM School of Management, is provided with total funding of 3.8 million euros for an initial period of six years.
TUM and the EQUA Foundation expect the newly created professorship to generate new research that will be of practical use to family enterprises, their culture and the entrepreneurial families behind them. Under an interdisciplinary approach, methods from the management sciences will be combined with those of other disciplines such as sociology and psychology.
,,It is today’s start-ups that give rise to the family enterprises of tomorrow."-- Prof. Thomas F. Hofmann, President of TUM
TUM president Hofmann said: "We’re delighted that, with the funding from the EQUA Foundation, we can contribute to the sustainable development of family enterprises with their specific working culture as an important pillar of the German economy. Especially in the wake of the coronavirus, renewed efforts are needed in this area." Prof. Hofmann added that the professorship will be located in Munich, where it will forge interdisciplinary ties. There are also wide-ranging opportunities to cooperate with researchers at TUM Campus Heilbronn, where TUM conducts research and teaching on the digital transformation of family enterprises. "A number of interesting research questions for the new chair will also arise at the interface with our many start-up founders." said President Hofmann. "After all, it is today’s innovative start-ups that give rise to the culturally aware family enterprises of tomorrow."