家族企业股东结构与跨国收购:一种差异化的社会情感财富研究方法

IF 9.9 1区管理学 Q1 BUSINESS

Family Business Review Pub Date : 2023-10-30 DOI:10.1177/08944865231205847

Andrea Calabrò, Mariateresa Torchia, Fabio Quarato, Alfredo Valentino, Domenico Rocco Cambrea, Fynn-Willem Lohe

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引用次数: 0

摘要

从混合赌博的角度来看，我们认为具有不同家族股东结构的家族企业(FFs)在当前和未来的财务和社会情感财富(SEW)之间面临不同的权衡，导致其国际收购选择的差异。我们还探讨了家庭领导和绩效期望的调节作用。我们的研究结果表明，拥有家族控股股东的FFs更有可能进行国际收购，特别是当FFs由家族CEO领导或业绩低于目标时，在这种情况下，他们优先考虑未来的财务和财务收益，从而牺牲当前的财务和财务财富。

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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Family Firms’ Shareholder Structure and International Acquisitions: A Differentiated Socioemotional Wealth Approach

From a mixed gamble perspective, we contend that family firms (FFs) with different family shareholder structures are confronted with different trade-offs among current and prospective financial and socioemotional wealth (SEW), leading to differences in their international acquisition choices. We also explore the moderating role of family leadership and performance aspirations. Our findings show that FFs with a dominant family owner are more likely to pursue international acquisitions, especially when FFs are led by a family CEO or when they experience below-target performance, as in such cases, they prioritize prospective financial and SEW gains, thereby sacrificing current SEW and financial wealth.

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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.