The organizational tightrope walker: how do family businesses address their paradoxes? A systematic literature review

Purpose This study examines the current state of knowledge regarding paradoxes in family businesses. Guided by the overarching research question, “What is known about paradoxes in family businesses and what lines of research emerge from this knowledge?”, the article reviews the literature, systematizes the categories of paradoxes and the theories that support them and proposes future lines of research. Design/methodology/approach A systematic literature review was conducted, identifying 60 academic studies that directly address paradoxes in family businesses. The paradoxes were analyzed, classified and linked to theoretical frameworks, enabling a structured understanding of the tensions that define the dynamics of family businesses. Findings This review identifies 60 paradoxes grouped into five main thematic areas: innovation, entrepreneurship, governance and succession and risk and finance. Innovation paradoxes reflect the tension between tradition and change, entrepreneurship paradoxes arise from generational and power shifts and governance and succession present conflicts based on identity and legitimacy. The paradoxes of risk financing reveal the tension between control, risk aversion and the pursuit of growth. Taken together, these paradoxes illustrate how family businesses continually negotiate dual demands, shaping their long-term survival, strategic behavior and socioemotional wealth. Originality/value This study offers the first comprehensive mapping of paradoxes in family businesses, linking them to theoretical foundations and future research directions. It provides academics with a structured agenda and practitioners with a practical perspective for addressing the inherent tensions that shape the behavior of family businesses.