Now showing 1 - 4 of 4
  • Publication
    Why Do Family Firms Strive for Nonfinancial Goals? An Organizational Identity Perspective
    (Wiley-Blackwell, 2013-03) ;
    Nason, Robert S.
    ;
    Nordqvist, M.
    ;
    Brush, Candida
    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:
    Volume:
    Issue:
    Scopus© Citations 490
  • Publication
    Extending the Socioemotional Wealth Perspective: A Look at the dark Side
    (Wiley, 2012-11)
    Kellermanns, Franz W.
    ;
    Eddleston, Kimberley H.
    ;
    We 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 315
  • Publication
    Value is in the Eye of the Owner : Affect Infusion and Socioemotional Wealth among Family Firm Owners
    Drawing on the Affect Infusion Model (AIM) from cognitive psychology we develop a conceptual framework that explains how affect related to corporate ownership impacts the formation of socioemotional wealth perceptions among family firm owners reflected in altered subjective value perceptions for the ownership stake. We explore target, personal, and situational features in the subjective valuation process for the ownership stake and explain how these factors mediate the relationship between affect and socioemotional wealth perceptions. We further our understanding about the level of bias in family owners' subjective firm value assessments and offer new approaches for socioemotional wealth research
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 108
  • Publication
    Family Control and Family Firm Valuation by Family CEOs : The Importance of Intentions for Transgenerational Control
    (InformsOnline, 2012-05) ;
    Kellermanns, Franz W.
    ;
    Chrisman, James J.
    ;
    Chua, Jess H.
    Family firms are thought to pursue non-financial goals that provide socioemotional wealth but socioemotional wealth is feasible only with family control of the firm. Using prospect theory, we hypothesize that socioemotional wealth increases with the extent of current control, duration of control, and intentions for transgenerational control thus adding to the price at which owners would be willing to sell their firms to non-family buyers. Findings from two countries show that current control has no impact and duration of control has a mixed impact. However, intention for transgenerational control has a consistent positive impact on the perceived acceptable selling price
    Type:
    Journal:
    Volume:
    Issue:
    Scopus© Citations 576