The importance of economic socialization in the continuity of family companies: the example of the century companies in Istanbul

The purpose of this research is to reveal whether social, cultural and ethical values awareness, which is effective in the continuity of family companies, has been transferred to future generations through economic socialization or how it has been transferred or why. The importance of these values for the centuries-old family companies and their transfer to future generations, adherence to the founder and founding principles, leadership, and economic socialization are discussed. Problems of family companies are mentioned. Qualitative research was carried out by interviewing three family businesses (one sent the answers to the questions in writing.). Open-ended questions were asked and they were provided to answer as they please. In addition, data were collected through observation and interview techniques at various century-old family companies in Istanbul. The three interviews are with three world famous brands that have been operating for more than a century. Almost all of the questions posed to companies in these interviews are the same. The benefit of these interviews is that it provides the opportunity to analyze the family companies in depth. It has been aimed to obtain answers specific to the culture and character of these three companies and also to make abstract evaluations covering all family companies. It was stated that the data obtained before the interviews will be used for academic purposes, and the participants were not concerned about and behave as naturally as possible. In addition, no restriction was imposed on the content and duration of the content during the reply. In this way, various issues that are perhaps more difficult to see from an academic perspective, but are important for family businesses, were specified by the participants. In the research, it has been determined that almost all of the centuries-old companies in Istanbul are not big companies. In the research, this issue was tried to be examined in depth and it was handled as the main problem (?). It is also examined whether this is an undesirable result or a preference. Why did the century-old family companies in Istanbul not become large companies? Keywords: Family Companies, Centennial Companies, Economic Socialization, Social-Cultural-Ethical Values, Centennial Companies in Istanbul, Small Businesses, Domestic Companies, Problem of Inability to Grow, Institutionalization, Company Culture