Out of the Comfort Zone! Family Leaders’ Subsidiary Ownership Choices and the Role of Vulnerabilities

IF 9.9 1区管理学 Q1 BUSINESS

Family Business Review Pub Date : 2021-10-15 DOI:10.1177/08944865211050858

Claudia Pongelli, A. Calabrò, Fabio Quarato, A. Minichilli, G. Corbetta

引用次数: 8

Abstract

Based on the socioemotional wealth approach and a sample of 3,904 subsidiary ownership choices made by 586 family firms, this study shows that family-managed firms (i.e., those family firms with a family member in a leadership position) prefer wholly owned subsidies over joint ventures when entering foreign markets. Family-managed firms are also more likely to revise their subsidiary ownership choices and form joint ventures when in vulnerability conditions, that is, when they experience performance below aspirations and when entering a culturally distant market.

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走出舒适区!家族领导人的子公司所有权选择与脆弱性的作用

基于社会情感财富方法和586家家族企业的3,904个子公司所有权选择样本，本研究表明，家族管理企业(即家族成员担任领导职位的家族企业)在进入国外市场时更倾向于全资补贴而不是合资企业。家族管理的公司也更有可能在脆弱的条件下，即当他们的业绩低于期望和进入一个文化上遥远的市场时，修改其子公司所有权选择和组建合资企业。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Family Business Review BUSINESS-

CiteScore

12.40

自引率

13.60%

发文量

期刊介绍： Family Business Review (FBR) has been a refereed journal since 1988, serving as the premier scholarly publication dedicated to the study of family-controlled enterprises. It delves into the dynamics of these businesses, encompassing a range of sizes from small to very large. FBR concentrates not only on the entrepreneurial founding generation but also on family enterprises in subsequent generations, including some of the world's oldest companies. The journal also publishes interdisciplinary research covering families of wealth, family foundations, and offices.