MOST COMMON COGNITIVE BIAS IN FAMILY BUSINESS MANAGEMENT

Yolanda Saldaña (), Fernando Miguel Ruiz (), Laura Leticia Gaona (), Juan Jesús Nahuat () and Kelly Alejandra Muñoz ()
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Yolanda Saldaña: Faculty of Accounting and Management, Universidad Autónoma de Coahuila
Fernando Miguel Ruiz: Faculty of Accounting and Management, Universidad Autónoma de Coahuila
Laura Leticia Gaona: Faculty of Accounting and Management, Universidad Autónoma de Coahuila
Juan Jesús Nahuat: Faculty of Accounting and Management, Universidad Autónoma de Coahuila
Kelly Alejandra Muñoz: Faculty of Accounting and Management, Universidad Autónoma de Coahuila

CBU International Conference Proceedings, 2017, vol. 5, issue 0, 433-436

Abstract: Due to the interaction of two incompatible systems: family and business, family business managers may have cognitive biases that result in an ineffective management. Therefore, the objective of this research study was to identify and determine the most common biases in the management of a family structure business. A documentary investigation was carried out with the purpose of compiling in a single document such biases. The analysis made it possible to conclude that the identified biases arise precisely from the interaction and incompatibility of these two systems; and that the absence of knowledge on the part of the business family and of directors of familiar companies of the presence of these biases impacts the permanence and consolidation of the familiar company.

Keywords: Cognitive biaseffective management; family business (search for similar items in EconPapers)
JEL-codes: M10 M20 M50 (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:aad:iseicj:v:5:y:2017:i:0:p:433-436

DOI: 10.12955/cbup.v5.961

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