Commentary: A Value Perspective of Family Firms

Wenlong Yuan and Zhenyu Wu

Entrepreneurship Theory and Practice, 2018, vol. 42, issue 2, 283-289

Abstract: This commentary extends Hillier, Martínez, Patel, Pindado, and Requejo (2018) by placing their insights within a wider context of the debate between the agency theory and stewardship theory. To reconcile the conflicts between the two theories, we propose a family-value perspective to incorporate the intrinsic heterogeneity of family firms. We highlight how different family values may lead to different strategic behavior and how various theoretical perspectives may be best used to describe the behavior of family firms with certain specific values.

Keywords: family business; value perspective; agency theory; stewardship theory (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:42:y:2018:i:2:p:283-289

DOI: 10.1177/1042258717748934

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