Long–Term Orientation in Publicly Traded Family Businesses: Evidence of a Dominant Logic
基于行为企业理论，研究上市家族企业决策中的长期导向，发现其比非家族企业积累更多冗余资源、承担更少战略风险、破产风险更低。
Drawing from the behavioral theory of the firm, we examine the role of a long–term orientation in decision making at publicly traded, family–influenced firms (FIFs). We advance a view of the family as part of a firm's dominant coalition and the resulting effects of a family–influenced coalition on the FIF's decision making. Using a sample of publicly traded firms, our findings indicate that FIFs’ decision making reflects a focus on a long–term orientation, manifested in the greater accumulation of slack resources, less strategic risk taking, and lower bankruptcy risk than non–FIF firms.