This study draws upon the behavioral agency model and the concept of socioemotional wealth to investigate how family firms’ employee pension underfunding decisions differ from those of non-family firms. We explore how these differences are influenced by financial distress, generational stage,...

We examine and test the environmental performance of family firms across 22 European countries and find that they exhibit better environmental performance than nonfamily firms. This result confirms prior research conducted in the United States. More specifically, we conclude that family firms...

This study examines family firms' propensity to protect their intellectual property through patents. Building on the mixed gamble logic of the behavioral agency model, we theorize that family ownership has a U-shaped relationship with firm propensity to patent. Specifically, we argue that family...

We take the perspective that considering the affective motives of dominant owners is essential to understanding business exit. Drawing on a refinement of behavioral agency theory, we argue that family-controlled firms are less likely than non-family-controlled firms to exit and tend to endure...

Family firms are the most prevalent form of economic organization in the world, but despite their reputation for resilience and agility, many of them are facing enormous challenges due to the Covid-19 pandemic. In this essay, we examine how the pressures to respond to this health emergency are...

A firm’s proactive engagement in risk, which has been deeply intertwined with the entrepreneurship literature, is essential to sustaining a firm’s long-term competitive advantage. Drawing on BAM’s mixed gamble logic in a family firm context, the present study offers a theoretical framework...