Anneleen Michiels, Isabel C. Botero, Roland E. Kidwell
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Toward a Family Science Perspective on Executive Compensation in Family Firms: A Review and Research Agenda
In family firms, the family often plays a central role in the strategic decisions of the business. However, until recently, research has primarily focused on exploring the role that business factors play in firm decision-making, with less attention given to the role of the family system. This article reviews the research on executive compensation in family firms to understand whether and how the family system has been considered within this work. Guided by the application of family science theories, we provide a framework to explain why it is important to incorporate the family system in the future study of executive compensation in family firms. We conclude by discussing a research agenda outlining how elements of the family system can be integrated into future executive compensation research to inspire scholars to think differently about this important research topic.
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.