Our research interest is in the existence and size of possible peer effects in pay or whether a worker may get a higher salary because another worker does rather than being related to a change in the worker's productivity or market forces. Previous research, which has concentrated on executive...

Drawing from prospect theory, we use an experimental study design to explore how and why reference points of managers of family and nonfamily firms differ. We contribute to research on the role of economic theories for family businesses by elaborating on decision-making mechanisms in the context...