Reflections on family firm goals and the assessment of performance

Jess H. Chua, James J. Chrisman, Alfredo De Massis and Hao Wang

Journal of Family Business Strategy, 2018, vol. 9, issue 2, 107-113

Abstract: Assessments of family firm effectiveness depend critically on how goals and performance outputs are measured. Similarly, assessments of family firm efficiency depend critically on how performance outputs and resource inputs are measured. We illustrate this by showing that the assessment of performance is affected by how different family firm goal systems are specified. Gaining a better understanding of these fundamental concepts gives family business scholars the rare opportunity to set the rules of the game about how the performance of family firms, and other organizations that pursue the non-financial goals of a dominant stakeholder, should be assessed.

Keywords: Goals; Performance; Family business; Socioemotional wealth; Non-financial benefits; Effectiveness; Efficiency (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (40)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S1877858518300111
Full text for ScienceDirect subscribers only

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:eee:fambus:v:9:y:2018:i:2:p:107-113

Ordering information: This journal article can be ordered from
http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/bibliographic
http://www.elsevier. ... 719791/bibliographic

DOI: 10.1016/j.jfbs.2018.02.001

Access Statistics for this article

Journal of Family Business Strategy is currently edited by J.H. Astrachan

More articles in Journal of Family Business Strategy from Elsevier
Bibliographic data for series maintained by Catherine Liu ().