Is it All About Money? - Affective Commitment and the Difference Between Family and Non-family Sellers in Buyouts

被引：29

作者：

Ahlers, Oliver ^{[1
]}

Hack, Andreas ^{[2
]}

Madison, Kristen ^{[1
,3
]}

Wright, Mike ^{[4
,5
]}

Kellermanns, Franz W. ^{[6
,7
]}

机构：

[1] Univ Witten Herdecke, Witten Inst Family Business, Alfred Herrhausen Str 50, D-58448 Witten, Germany

[2] Univ Bern, Inst Org & Human Resource Management IOP, Engehaldenstr 4, CH-3012 Bern, Switzerland

[3] Mississippi State Univ, Dept Management & Informat Syst, Coll Business, Mississippi State, MS 39762 USA

[4] Imperial Coll Business Sch, Ctr Management Buyout Res, South Kensington Campus, London, England

[5] Univ Ghent, Fac Econ & Business Adm, Hoveniersberg 4, Ghent, Belgium

[6] Univ North Carolina Charlotte, Dept Management, 9201 Univ City Blvd, Charlotte, NC 28223 USA

[7] WHU Otto Beisheim Sch Management, INTES Ctr Family Enterprises, Vallendar, Germany

来源：

BRITISH JOURNAL OF MANAGEMENT | 2017年 / 28卷 / 02期

关键词：

PRIVATE EQUITY; SOCIOEMOTIONAL WEALTH; VENTURE CAPITALISTS; ORGANIZATIONAL COMMITMENT; STEWARDSHIP THEORY; INTERORGANIZATIONAL TRUST; NORMATIVE COMMITMENT; FIRM PERFORMANCE; INFORMATION; REPUTATION;

D O I：

10.1111/1467-8551.12178

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

In this paper we investigate private equity firm perceptions of sellers' affective deal commitment in buyout transactions. Using a sample of 174 buyouts, we test trust, goal congruence and private equity reputation as potential antecedents of perceived deal commitment. We also examine whether and how different types of sellers, family versus non-family firms, moderate sources of perceived affective deal commitment. In sum, we find evidence that non-financial factors play a role in buyouts, particularly for family firm sellers.

引用

页码：159 / 179

页数：21

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