Family businesses institutionalization and accountability

The aim of this study is to analyze the institutionalization and the level of accountability of family businesses, according to as to what variables affect the performance of the company. Family businesses have an important role in both economical and social life in the whole world and Turkey. A big percentage of companies consist of family-owned companies in the country, and continuity is important for our country. In our country, the average life expectancy of family businesses is twenty five years. In order to provide continuity for a long time should be institutionalized and need to be managed more professionally. On the other hand, uninstitutionalizationed family businesses(SMEs) have lots of challenges in doing their business according to the crises and global competition. Globalization made it imperative for the enterprises to adapt themselves to the market and to develop themselves in line with the conditions. Family-owned firms, which embraced a systemic structure in view of institutionalization, thus have lengthened their life span. A family-owned company is a company that the majority ownership or controlled by only one family and two or more family members in the family to be related directly to the venture is a business. After the establishment of Family-owned businesses and along with the company's growth, the conflicts experienced especially in management positions. Placed in the rules to prevent conflicts and are written down as a family constitution. In this study, in addition to institutionalization, accountability dimension of family companies analyzed. Effects on the overall performance of the company from the results of the survey variables were examined. Keywords: Family Business, Institutionalization, Accountability