Entrepreneurial Risk Taking of Private Family Firms: The Influence of a Nonfamily CEO and the Moderating Effect of CEO Tenure

Please use this identifier to cite or link to this item: http://hdl.handle.net/1942/15328

Title:	Entrepreneurial Risk Taking of Private Family Firms: The Influence of a Nonfamily CEO and the Moderating Effect of CEO Tenure
Authors:	HUYBRECHTS, Jolien VOORDECKERS, Wim LYBAERT, Nadine
Issue Date:	2013
Publisher:	SAGE PUBLICATIONS INC
Source:	FAMILY BUSINESS REVIEW, 26 (2), p. 161-179
Abstract:	This article aims to increase our understanding of family firms' entrepreneurial risk-taking behavior by looking at the differences between family and nonfamily firms and by studying variations among family firms. We find empirical support for a positive influence of a nonfamily CEO on the family firm's level of entrepreneurial risk taking during the initial years of his or her CEO tenure and a leveling out of entrepreneurial risk taking as the CEO tenure of the nonfamily CEO is extended. We build on the concept of psychological ownership to explain these new findings.
Notes:	Huybrechts, J (reprint author), Hasselt Univ, Res Ctr Entrepreneurship & Innovat, B-3590 Diepenbeek, Belgium. Hasselt Univ, B-3590 Diepenbeek, Belgium. Hasselt Univ, Fac Business Econ, B-3590 Diepenbeek, Belgium jolien.huybrechts@uhasselt.be
Keywords:	Business;entrepreneurial risk taking; nonfamily CEO; agency theory; psychological ownership; socioemotional wealth
Document URI:	http://hdl.handle.net/1942/15328
ISSN:	0894-4865
e-ISSN:	1741-6248
DOI:	10.1177/0894486512469252
ISI #:	000318810900004
Category:	A1
Type:	Journal Contribution
Validations:	ecoom 2014
Appears in Collections:	Research publications

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