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The effect of transgenerational control intention on family-firm performance: it depends who pursues it

  • Transgenerational control intention (TCI) is a pivotal characteristic of many family firms. Yet, it remains unclear whether TCI benefits family-firm performance by instilling a long-term view, or hurts performance by fueling harmful socioemotional wealth (SEW) goals. We posit that it depends who pursues it. When faced with TCI, family managers are known to suffer from cognitive biases that, we submit, do not similarly apply to nonfamily managers. Thus, only family managers harm performance when pursuing TCI. An empirical iestigation of 107 private German family firms supports our theory; the effect of TCI on firm performance depends on who pursues it.

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Document Type:Article
Author:Torsten WulfORCiD, Sebastian HoffmannORCiD
Center:Center for Strategy and Scenario Planning (CSSP)
Year of Completion:2017
In: Entrepreneurship Theory and Practice, (2017) DOI 10.1177/1042258717730025