Strategic Persistence in Family Business
基于行为理论，研究发现家族企业比非家族企业更倾向于保持战略持续性，且创始人控制或家族成员担任董事长/CEO的企业持续性更强。
Using a behavioral theory framework, we argue that family firms are more persistent (less likely to engage in the strategic renewal form of corporate entrepreneurship) in their strategic behaviors over time than nonfamily firms owing to their goals of maintaining family tradition and parsimony. We also argue that family firms controlled by founders or having a family member as Chairman or CEO are more likely to be persistent in their strategies than family firms with different governance structures. Panel regression based on a sample of 8,748 firm-year observations of S&P 1500 manufacturing firms from 1996 to 2013 support our hypotheses.