Values in Family Firms and their Impact on Managerial Decisions
Sprache des Vortragstitels:
EURAM Doctoral Colloquium 2022, European Academy of Management
Sprache des Tagungstitel:
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.