Long–Term Orientation and Intertemporal Choice in Family Firms

G. T. Lumpkin and Keith H. Brigham

Entrepreneurship Theory and Practice, 2011, vol. 35, issue 6, 1149-1169

Abstract: A long–term orientation (LTO) is often associated with family firms, but the LTO construct is underdeveloped. This paper sets forth a framework for studying LTO in family firms including developing three dimensions—futurity, continuity, and perseverance. It identifies LTO as a higher–order heuristic that, in matters of intertemporal choice, provides a dominant logic for decisions and actions. Intertemporal choice refers to decisions with payoffs or outcomes that play out over time. Three mechanisms affecting intertemporal choices are identified—representation, self–control, and anticipation. LTO and intertemporal choice are further examined and discussed in the context of family firms.

Date: 2011
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (43)

Downloads: (external link)
https://journals.sagepub.com/doi/10.1111/j.1540-6520.2011.00495.x (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:35:y:2011:i:6:p:1149-1169

DOI: 10.1111/j.1540-6520.2011.00495.x

Access Statistics for this article

More articles in Entrepreneurship Theory and Practice
Bibliographic data for series maintained by SAGE Publications ().