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On the Emotional Value of owning a Firm

Thomas Zellweger & Joseph H. Astrachan

abstract This article examines how owners of firms subjectively value their ownership stake in monetary terms. We utilize endowment and possession attachment literature to investigate how emotional benefits and costs related to organizational ownership affect emotional value. Thereby we define emotional value as that part of Willingness to Accept, unexplained by the financial value of the ownership stake and the financial private benefits of control accruing to the owner. Our research provides new insight into firm owners’ psychology and value considerations where an owner values non-financial aspects of the ownership stake.
   
type journal paper
   
keywords Emotional benefits, emotional costs, emotional value, attachment, endowment, Willingness to Accept
   
project Value and Performance in Family Firms
language English
kind of paper journal article
date of appearance 16-6-2008
journal Family Business Review
publisher Sage
volume of journal 21
number of issue 4
page(s) 347-365
review double-blind review
   
citation Zellweger, T., & Astrachan, J. H. (2008). On the Emotional Value of owning a Firm. Family Business Review, 21(4), 347-365.