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Behavioural agency theory and the family business
Jönköping University, Jönköping International Business School, JIBS, Business Administration. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).ORCID iD: 0000-0002-2000-5824
2015 (English)In: Theoretical perspectives on family businesses / [ed] Mattias Nordqvist, Leif Melin, Matthias Waldkirch and Gershon Kumeto, Cheltenham: Edward Elgar Publishing, 2015, p. 78-98Chapter in book (Refereed)
Abstract [en]

The behavioural agency theory was developed to provide a more comprehensive explanation and prediction of managerial risk taking, in response to some shortcomings of agency theory. In general, the theory offers explanations of why decision makers prefer some strategic choices to others. The use of behavioural agency theory in family business research has, however, been very limited. Family business scholars recently adapted this theory to construct the family business variant, the ‘socioemotional wealth’ construct, which offers better explanations for the risk taking and decision making behaviours of family firms. This chapter provides an overview of behavioural agency theory and the socioemotional wealth construct, explores how they have been used in family business research, and offers suggestions for how this theory can be used in further research to contribute to both the family business and the general management literature. Keywords: family business, behavioural agency theory, socioemotional wealth, family firm heterogeneity.

Place, publisher, year, edition, pages
Cheltenham: Edward Elgar Publishing, 2015. p. 78-98
Keywords [en]
business and management, entrepreneurship, family business, organisational behaviour, organisation studies
National Category
Business Administration
Identifiers
URN: urn:nbn:se:hj:diva-29505DOI: 10.4337/9781783479665.00012Scopus ID: 2-s2.0-84949178587ISBN: 9781783479658 (print)ISBN: 9781783479665 (print)OAI: oai:DiVA.org:hj-29505DiVA, id: diva2:906394
Available from: 2016-02-24 Created: 2016-02-24 Last updated: 2017-04-21Bibliographically approved

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Accepted Manuscript(193 kB)137 downloads
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Kumeto, Gershon

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CiteExportLink to record
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Citation style
  • apa
  • harvard1
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  • modern-language-association-8th-edition
  • vancouver
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More styles
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  • Other locale
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Output format
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