Misconceptions About the Theoretical Support for Family Firm Long-Term Orientation

Jess H. Chua, James J. Chrisman, Hao Wang and Saisai Wu

Entrepreneurship Theory and Practice, 2025, vol. 49, issue 2, 359-374

Abstract: Long-term orientation has been proposed as one of the differences between family and nonfamily firms. Family business scholars base this difference theoretically on the incumbent generation’s altruism for the next generation and the intention for intrafamily succession. We point out that the applicable boundaries for these two theoretical bases are limited. We also point out misconceptions regarding what these two theoretical bases imply about the long-term oriented behavior of family businesses and discuss implications for empirical research and theory development.

Keywords: family business; long-term orientation; altruism; intrafamily succession (search for similar items in EconPapers)
Date: 2025
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Persistent link: https://EconPapers.repec.org/RePEc:sae:entthe:v:49:y:2025:i:2:p:359-374

DOI: 10.1177/10422587241300432

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