A Closer Look at Socioemotional Wealth: Its Flows, Stocks, and Prospects for Moving Forward. (25th February 2015)

• Record Type: Journal Article
• Authors: Chua, Jess H.; Chrisman, James J.; De Massis, Alfredo
• Is Part Of: Entrepreneurship theory and practice. Volume 39:Number 2(2015:Mar.)
• Page Start: 173
• Page End: 182
• Publication Date: 2015-02-25
• Subjects: Small business -- Periodicals; New business enterprises -- Periodicals; Entrepreneurship -- Periodicals; 658.421
• DOI: 10.1111/etap.12155
• Languages: English
• ISSNs: 1042-2587

Abstract

Abstract : We supplement the recent work by Miller and Le Breton‐Miller by evaluating more closely two related theoretical aspects of the socioemotional wealth concept: (1) the stocks and flows of noneconomic benefits and how they influence family firm behavior; and (2) the use of prospect theory as an umbrella concept. We, thus, contribute to family business research by delineating a number of important research questions related to these two theoretical aspects that need to be addressed if theories of family firm behavior and performance are to move forward.