{"title":"Understanding Family Firm Intentions to Use Private Equity: A Theory of Planned Behaviour Perspective","authors":"Chris Graves, P. Seet, Anneleen Michiels","doi":"10.1515/erj-2022-0019","DOIUrl":null,"url":null,"abstract":"Abstract Although past research suggests that family firms are less likely to use private equity (PE) financing, further research is required to identify the underlying reasons for such behaviour. Using the theory of planned behaviour and based on the analysis of data collected from 254 family firms, we identify the factors that explain a family firm’s intentions to use PE. Family owners are more likely to plan to use PE when they have a favourable attitude toward PE, their intended succession strategy involves relinquishing control by selling the business sometime in the future, and they have a good understanding of PE.","PeriodicalId":45658,"journal":{"name":"Entrepreneurship Research Journal","volume":null,"pages":null},"PeriodicalIF":2.0000,"publicationDate":"2022-11-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"2","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Entrepreneurship Research Journal","FirstCategoryId":"91","ListUrlMain":"https://doi.org/10.1515/erj-2022-0019","RegionNum":4,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 2
Abstract
Abstract Although past research suggests that family firms are less likely to use private equity (PE) financing, further research is required to identify the underlying reasons for such behaviour. Using the theory of planned behaviour and based on the analysis of data collected from 254 family firms, we identify the factors that explain a family firm’s intentions to use PE. Family owners are more likely to plan to use PE when they have a favourable attitude toward PE, their intended succession strategy involves relinquishing control by selling the business sometime in the future, and they have a good understanding of PE.
期刊介绍：
Entrepreneurship Research Journal (ERJ) was launched with an Inaugural Issue in 2011. Professor Ramona Zachary at Baruch College and Professor Chandra Mishra at Florida Atlantic University introduce a new forum for scholarly discussion on entrepreneurs and their activities, contexts, processes, strategies, and outcomes. Positioned as the premier new research journal within the field of entrepreneurship, ERJ seeks to encourage a scholarly exchange between researchers from any field of study who focus on entrepreneurs, and will include both theoretical and empirical articles, with priority being given to high quality theoretical and empirical papers that have managerial or public policy orientation as well as ramifications for entrepreneurship research overall. Topics: -Research Modeling, Design, and Methods: entrepreneurship theories and conceptualizations, entrepreneurship research methods. -The Individuals-Opportunities-Resources Nexus: nascent entrepreneurs, opportunity recognition, drivers of value creation, and emergence, innovation and technology entrepreneurs, entrepreneurial risk and reward, entrepreneurial cognition and behavior. -Inclusive of Near Environments: family entrepreneurship, networks, teams and alliances, venture capital and angel investor groups, entrepreneurial communities, hubs, clusters and public policy, social entrepreneurship. -Distinct Entrepreneurial Stage or Setting: entrepreneurial growth and strategy, boards, governance and leadership, corporate entrepreneurship, international and emerging market entrepreneurship.
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