Title
Prof. Dr.
Last Name
Zellweger
First name
Thomas
Email
thomas.zellweger@unisg.ch
ORCID
Phone
+41 71 224 71 00
Google Scholar
1 - 10 of 20
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PublicationExploring the entrepreneurial Behavior of Family Firms: Does the Stewardship Perspective explain Differences?Drawing from stewardship theory we investigate corporate entrepreneurship in family firms. We argue that stewardship culture determinants - comprehensive strategic decision-making, participative governance, long-term orientation and human capital -differentiate the most entrepreneurial family firms. Based on a study of 179 family firms, we show that comprehensive strategic decision-making and long-term orientation contribute to corporate entrepreneurship. Additionally, family-to-firm unity enhances the positive effects participative governance and long-term orientation have on corporate entrepreneurship. While we found that family-to-firm unity can compensate for low human capital, unexpectedly, we also found that family-to-firm unity can dampen the positive relationship between human capital and corporate entrepreneurshipType:Journal:Volume:Issue:
Scopus© Citations 227 -
PublicationExtending the Socioemotional Wealth Perspective: A Look at the dark SideWe extend the socioemotional wealth (SEW) perspective by arguing that SEW can be negatively associated with proactive stakeholder engagement (PSE). We further suggest that the SEW dimensions can be associated with positive or negative valence. Lastly, we propose that negatively valenced SEW dimensions lead to family centric behavior, which negatively affects PSE. This multifaceted conceptualization of SEW allows us to explain how family firms can partake in harmful stakeholder behaviors despite having seemingly strong SEW. Our paper suggests that SEW can be either an affective endowment or burden for family firms and their constituents.Type:Journal:Volume:Issue:
Scopus© Citations 316 -
PublicationFamily Control and Family Firm Valuation by Family CEOs : The Importance of Intentions for Transgenerational Control(InformsOnline, 2012-05)
Scopus© Citations 578 -
PublicationBuilding a Family Firm Image: : How Family Firms capitalize on their Family Ties(Elsevier, 2012-12)
Scopus© Citations 175 -
PublicationThe Critical Path to Family Firm Success through Entrepreneurial Risk Taking and Image(Elsevier, 2010-12)
Scopus© Citations 125 -
PublicationExploring the Concept of Familiness : Introducing Family Firm IdentityOur paper contributes to the overarching question: "How does the family contribute to firm success?" We add to the nomological net of the familiness construct, by reaching beyond the components of involvement and the essence approach and by introducing organizational identity as a third dimension of familiness. As such, we investigate which families are most likely to build familiness. Specifically, the organizational identity dimension of familiness reflects how the family defines and views the firm, which can facilitate performance advantages through leveraging familiness both internally and externally. Lastly, we discuss how the combinations of components of involvement, essence and identity dimensions of familiness interact and explain why and how some families are a key resource to their firms while others add little value to their organizations.Type:Journal:Volume:Issue:
Scopus© Citations 501 -
PublicationSocioemotional Wealth and Family Firm Performance: Economic Gains from Pursuing Noneconomic GoalsSocioemotional wealth recently emerged as an important distinguishing characteristic between family and nonfamily firms. It is used in extant literature as a theoretical framework to rationalize the behavior of protecting family interests at the expense of financial success. We present socioemotional wealth differently: as a measureable construct, conceptualized through a stewardship theory lens, with empirical support for its positive relationship with family firm financial performance. Results also show hostile environments attenuate the SEW–performance relationship, indicating that firms with high socioemotional wealth are unable to make the necessary strategic adjustments needed to enhance performance in difficult environments.Type:Journal:
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PublicationThe Link Between Family Firm Dynamics, Image and Firm Performance(SMS Strategic Management Society, 2011-11-06)
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PublicationHow Socioemotional Wealth biases Survival Risk Perceptions among Family Firm OwnersApplying a behavioral perspective, we investigate how threats to firm survival, measured through reduced performance and heightened leverage, impact risk perceptions among family firm owners. More specifically, we test whether socioemotional biases induced by duration of family ownership and transgenerational sustainability intentions, alter the negative relationship between low profitability and high leverage on the acceptable sale price of the firm. In extension to existing literature on family owners' risk perceptions and organizational risk taking, our study finds increased risk sensitivity for family owners with long ownership traditions, whereas transgenerational sustainability intentions do not bias the negative relationship of low profitability and high leverage on acceptable sale price