Political ideologies and the internationalization of family-controlled firms

Patricio Duran, Tatiana Kostova and Marc van Essen
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Patricio Duran: Universidad Adolfo Ibáñez [Santiago]
Tatiana Kostova: University of South Carolina [Columbia]
Marc van Essen: HSG - University of St.Gallen

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Abstract: This paper examines the effect of government political ideology on internationalization of family-controlled firms (FCFs). FCFs tend to internationalize less than non-FCFs, because of their loss aversion and conservative concerns about maintaining the family's socioemotional wealth (SEW). We propose that FCFs' concerns related to internationalization are alleviated when the ideology of government (i.e., the set of values about society's goals) are aligned with FCFs' non-economic objectives (e.g., protecting SEW). Governments that subscribe to socially conservative and family-oriented ideology are viewed as particularly supportive of FCFs, which makes family owners feel safe and protected and more open to venturing into internationalization.

Keywords: Political ideologies; Family firms; Internationalization (search for similar items in EconPapers)
Date: 2017-06-01
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Citations: View citations in EconPapers (29)

Published in Journal of World Business, 2017, 52 (4), 474-488 p. ⟨10.1016/j.jwb.2016.07.001⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-02312102

DOI: 10.1016/j.jwb.2016.07.001

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