Socioemotional wealth’s implications in the calculus of the minimum rate of return required by family businesses’ owners
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2017Resumen
This paper demonstrates that the minimum rate of return (ke) required by family business shareholders is inversely related to the emotional endowment presented in these firms. After reviewing the socioemotional wealth (SEW) literature, we find empirical support to justify that different SEW dimensions influence ke. Findings from a population of 207 family firms show that the identification of family members with the firm and the renewal of family bonds with the firm through dynastic succession have consistently negative impacts on ke, while family control and influence have significantly positive impacts on ke.
Palabra/s clave
SEW
Minimum Rate of Return,
Total Value
Emotional Value
Financial Value