A Value Perspective of Family Firms

被引:14
作者
Yuan, Wenlong [1 ]
Wu, Zhenyu [1 ]
机构
[1] Univ Manitoba, IH Asper Sch Business, Dept Business Adm, Winnipeg, MB, Canada
关键词
family business; value perspective; agency theory; stewardship theory; STEWARDSHIP; AGENCY; PERFORMANCE;
D O I
10.1177/1042258717748934
中图分类号
F [经济];
学科分类号
02 ;
摘要
This commentary extends Hillier, Martinez, Patel, Pindado, and Requejo (2018) by placing their insights within a wider context of the debate between the agency theory and stewardship theory. To reconcile the conflicts between the two theories, we propose a family-value perspective to incorporate the intrinsic heterogeneity of family firms. We highlight how different family values may lead to different strategic behavior and how various theoretical perspectives may be best used to describe the behavior of family firms with certain specific values.
引用
收藏
页码:283 / 289
页数:7
相关论文
共 25 条
  • [1] The pervasive effects of family on entrepreneurship: toward a family embeddedness perspective
    Aldrich, HE
    Cliff, JE
    [J]. JOURNAL OF BUSINESS VENTURING, 2003, 18 (05) : 573 - 596
  • [2] Astrachan J.H., 2002, Family Business Review, V15, P45, DOI [DOI 10.1111/J.1741-6248.2002.00045.X, 10.1111/j.1741-6248.2002.00045.x]
  • [3] Home-region focus and performance of family firms: The role of family vs non-family leaders
    Banalieva, Elitsa R.
    Eddleston, Kimberly A.
    [J]. JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 2011, 42 (08) : 1060 - 1072
  • [4] The role of family in family firms
    Bertrand, Marianne
    Schoar, Antoinette
    [J]. JOURNAL OF ECONOMIC PERSPECTIVES, 2006, 20 (02) : 73 - 96
  • [5] Family control and the implied cost of equity: Evidence before and after the Asian financial crisis
    Boubakri, Narjess
    Guedhami, Omrane
    Mishra, Dev
    [J]. JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 2010, 41 (03) : 451 - 474
  • [6] Are family managers agents or stewards? An exploratory study in privately held family firms
    Chrisman, James J.
    Chua, Jess H.
    Kellermanns, Franz W.
    Chang, Erick P. C.
    [J]. JOURNAL OF BUSINESS RESEARCH, 2007, 60 (10) : 1030 - 1038
  • [7] Sources of Heterogeneity in Family Firms: An Introduction
    Chua, Jess H.
    Chrisman, James J.
    Steier, Lloyd P.
    Rau, Sabine B.
    [J]. ENTREPRENEURSHIP THEORY AND PRACTICE, 2012, 36 (06) : 1103 - 1113
  • [8] Family involvement and new venture debt financing
    Chua, Jess H.
    Chrisman, James J.
    Kellermanns, Franz
    Wu, Zhenyu
    [J]. JOURNAL OF BUSINESS VENTURING, 2011, 26 (04) : 472 - 488
  • [9] The determination of capital structure: Is national culture a missing piece to the puzzle?
    Chui, ACW
    Lloyd, AE
    Kwok, CCY
    [J]. JOURNAL OF INTERNATIONAL BUSINESS STUDIES, 2002, 33 (01) : 99 - 127
  • [10] Toward a stewardship theory of management
    Davis, JH
    Schoorman, FD
    Donaldson, L
    [J]. ACADEMY OF MANAGEMENT REVIEW, 1997, 22 (01) : 20 - 47