Aspirations of Chinese families-in-business: Development of a reliable measurement instrument

Feifei Lu, Zhu Zhu and Xiaogang He

Journal of Family Business Strategy, 2021, vol. 12, issue 4

Abstract: Although previous studies have recognized the contingent nature of family firms’ aspirations, they have largely neglected cross-cultural heterogeneity. Drawing on the behavioral theory and socio-emotional wealth perspective (SEW), we reexamine the construct of family aspirations in a Chinese context. We argue that Chinese family firms have culturally specific aspirations that can influence their strategic behaviors. Based on a three-phase study employing both qualitative and quantitative methods, we develop and validate a measure of aspirations of Chinese families-in-business. Six dimensions of Chinese family aspirations are explored: family harmony, financial wealth, health and longevity, continuity of family line, family honor and guanxi, and great ambitions for the younger generation. Our findings also identify a set of topics that can be pursued in future research using our Chinese family aspirations scale.

Keywords: Chinese context; Family aspirations; Behavioral theory of the firm; Socio-emotional wealth; Scale development (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:eee:fambus:v:12:y:2021:i:4:s187785852100022x

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DOI: 10.1016/j.jfbs.2021.100441

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