Prior research has analyzed R&D spending in family and founder firms. Yet, little is known about the economic and technological importance of innovations in these types of firms. Using patent citation data, we show that founder-managed firms, which we argue favor an entrepre-neurial orientation,...

We employ agency theory to argue that the effects of family (and founder) ownership vs. management will be quite different: the former is expected to contribute positively to performance, the latter is argued to erode performance. Previous studies, due to problems of multicollinearity have been...

The focus of much career choice research is framed around a uni-dimensional conceptualization of motivation in which the tendency to approach a career assumes a proportionately equal and opposite willingness to avoid it. Drawing upon Regulatory Focus Theory we advance a dual-channel model of...

This article introduces a formula to assess the total value of privately held family businesses from the owner's perspective. It is argued that the total value of a business is not only composed of its financial worth and private benefits, as is usually assumed by traditional financial theory,...

Family owners monitor managers, attenuating principal–agent conflicts and improving firm performance. However, family owners also appropriate resources, creating principal–principal conflicts that harm firm performance. Although these effects occur simultaneously, research does not explain...

This article examines the long-run stock market performance of German and Spanish initial public offerings (IPOs) between 1990 and 2000. We distinguish between family- and nonfamily-owned business IPOs by using the power subscale of the F-PEC. Buy-and-hold-abnormal returns (BHAR) are calculated...

We studied an interprofessional collaboration to understand how professionals engaged with paradox in collective decision-making. At the beginning of our study, we observed vicious cycles in which conflict led to negative tension. Professionals were holding tightly to a particular pole of the...