A Closer Look at Socioemotional Wealth: Its Flows, Stocks, and Prospects for Moving Forward

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

Entrepreneurship Theory and Practice, 2015, vol. 39, issue 2, 173-182

Abstract: We supplement the recent work by Miller and Le Breton–Miller by evaluating more closely two related theoretical aspects of the socioemotional wealth concept: (1) the stocks and flows of noneconomic benefits and how they influence family firm behavior; and (2) the use of prospect theory as an umbrella concept. We, thus, contribute to family business research by delineating a number of important research questions related to these two theoretical aspects that need to be addressed if theories of family firm behavior and performance are to move forward.

Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:39:y:2015:i:2:p:173-182

DOI: 10.1111/etap.12155

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