Commentary: A Value Perspective of Family Firms
这篇评论将Hillier等人的研究置于代理理论与管家理论的辩论中，提出家族价值视角来解释家族企业的内在异质性，并说明不同家族价值如何导致不同战略行为。
This commentary extends Hillier, Martínez, Patel, Pindado, and Requejo (2018) by placing their insights within a wider context of the debate between the agency theory and stewardship theory. To reconcile the conflicts between the two theories, we propose a family-value perspective to incorporate the intrinsic heterogeneity of family firms. We highlight how different family values may lead to different strategic behavior and how various theoretical perspectives may be best used to describe the behavior of family firms with certain specific values.