Claudia Pongelli, A. Calabrò, Fabio Quarato, A. Minichilli, G. Corbetta
{"title":"Out of the Comfort Zone! Family Leaders’ Subsidiary Ownership Choices and the Role of Vulnerabilities","authors":"Claudia Pongelli, A. Calabrò, Fabio Quarato, A. Minichilli, G. Corbetta","doi":"10.1177/08944865211050858","DOIUrl":null,"url":null,"abstract":"Based on the socioemotional wealth approach and a sample of 3,904 subsidiary ownership choices made by 586 family firms, this study shows that family-managed firms (i.e., those family firms with a family member in a leadership position) prefer wholly owned subsidies over joint ventures when entering foreign markets. Family-managed firms are also more likely to revise their subsidiary ownership choices and form joint ventures when in vulnerability conditions, that is, when they experience performance below aspirations and when entering a culturally distant market.","PeriodicalId":51365,"journal":{"name":"Family Business Review","volume":"34 1","pages":"404 - 424"},"PeriodicalIF":9.9000,"publicationDate":"2021-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"8","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Family Business Review","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1177/08944865211050858","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 8
Abstract
Based on the socioemotional wealth approach and a sample of 3,904 subsidiary ownership choices made by 586 family firms, this study shows that family-managed firms (i.e., those family firms with a family member in a leadership position) prefer wholly owned subsidies over joint ventures when entering foreign markets. Family-managed firms are also more likely to revise their subsidiary ownership choices and form joint ventures when in vulnerability conditions, that is, when they experience performance below aspirations and when entering a culturally distant market.
期刊介绍：
Family Business Review (FBR) has been a refereed journal since 1988, serving as the premier scholarly publication dedicated to the study of family-controlled enterprises. It delves into the dynamics of these businesses, encompassing a range of sizes from small to very large. FBR concentrates not only on the entrepreneurial founding generation but also on family enterprises in subsequent generations, including some of the world's oldest companies. The journal also publishes interdisciplinary research covering families of wealth, family foundations, and offices.
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