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Why Do Family Firms Strive for Nonfinancial Goals? An Organizational Identity Perspective

Thomas Zellweger, Robert S. Nason, M. Nordqvist & Candida Brush

abstract This paper develops an organizational identity based rationale for why family firms strive for nonfinancial goals. We show that the visibility of the family in the firm, the transgenerational sustainability intentions of the family, and the capability of the firm for self-enhancement of the family positively influence the importance of identity fit between family and firm as well as the family's concern for corporate reputation. We suggest that the concern for corporate reputation leads the family to pursue nonfinancial goals to the benefit of nonfamily stakeholders. We also discuss reinforcing feedback loops in these processes
   
type journal paper
   
keywords
   
project Value and Performance in Family Firms
language English
kind of paper journal article
date of appearance 3-2013
journal Entrepreneurship Theory & Practice
publisher Wiley-Blackwell (Malden, Mass.)
ISSN 1042-2587
ISSN (online) 1540-6520
DOI 10.1111/j.1540-6520.2011.00466.x
volume of journal 37
number of issue 2
page(s) 229-248
review double-blind review
   
citation Zellweger, T., Nason, R. S., Nordqvist, M., & Brush, C. (2013). Why Do Family Firms Strive for Nonfinancial Goals? An Organizational Identity Perspective. Entrepreneurship Theory & Practice, 37(2), 229-248, DOI:10.1111/j.1540-6520.2011.00466.x.