Values in Family Firms and their Impact on Managerial Decisions

Description

Family firms (FFs) are characterized by their unique emphasis on specific beliefs and values. Their managerial decisions are shaped by socioemotional wealth, i.e., distinct non-financial aspects or goals that meet the owner family’s affective needs. However, large parts of the state of the art investigate values in a one-sided manner, dedicated to a specific outcome and largely neglecting the sources of beliefs and values. A comprehensive and differentiated ex-amination of beliefs and values in FFs is a substantial research gap. Thus, this research aims to develop a closer understanding of the influence of religious (Christian) and secular beliefs and values on FFs and their most important managerial decisions. The focus lies on the most im-portant managerial decisions of FFs by applying a stakeholder approach. To do so, the author envisages a qualitative-empirical study on the beliefs and values in FFs, primarily based on semi-structured interviews with FFs and a business- and media analysis. This research can therefore shed light on how religious and secular values shift families’ reference points and thus influence decision-making. It contributes by means of an interdisciplinary approach, not only providing novel insights into the under-researched question of how secularism and reli-gion shape managerial decisions of FFs, but also for the identification of configurations of such beliefs and values and managerial choices that promise a more effective management of FFs.

Period	14 Jun 2022
Event title	EURAM Doctoral Colloquium 2022, European Academy of Management
Event type	Other
Location	SwitzerlandShow on map