On the Emotional Value of Owning a Firm
研究企业所有者如何主观评估其所有权份额的货币价值，发现情绪收益和成本会影响所有权价值，为理解所有者非财务价值考量提供新视角。
This article examines how owners of firms subjectively value their ownership stake in monetary terms. We utilize endowment and possession attachment literature to investigate how emotional benefits and costs related to organizational ownership affect emotional value. We define emotional value as that part of willingness to accept unexplained by the financial value of the ownership stake and the private financial benefits of control accruing to the owner. Our research provides new insight into firm owners' psychology and value considerations where an owner values nonfinancial aspects of the ownership stake.