Beyond Family Firm Boundaries: Examining Socioemotional Wealth in Family and Nonfamily FirmsSouthern Management Association Conference (2014)
Growing interest in Socioemotional Wealth (SEW), or family firms’ use of emotional value as a decision reference point, can explain why family firms are generally known to make risk averse decisions. However, research suggests that nonfamily firms can also use loss of emotional value as a reference point. Using prospect theory, we apply a SEW perspective to both family and nonfamily firms. We hypothesize that SEW increases with the number of blockholders in management, duration of control, and TMT ownership concentration. Our findings suggest that SEW, as a theory of the family firm, can contribute to the broader management literature.
- Family firm,
- Socioemotional wealth,
- Nonfamily firms,
Publication DateNovember 11, 2014
Citation InformationDavid Jiang, Mary Beth Rousseau and Franz W. Kellermanns. "Beyond Family Firm Boundaries: Examining Socioemotional Wealth in Family and Nonfamily Firms" Southern Management Association Conference (2014)
Available at: http://works.bepress.com/david-jiang/11/