The Power of Psychological Ownership in Longevity of Family Businesses

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F17%3A63517953" target="_blank" >RIV/70883521:28120/17:63517953 - isvavai.cz</a>

Result on the web

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DOI - Digital Object Identifier

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Result language

angličtina

Original language name

The Power of Psychological Ownership in Longevity of Family Businesses

Original language description

Family members’ ownership stances in family businesses are critical in case of business longevity. Family members’ business involvement in legal ownership rights has been addressed by previous studies and findings are rigid. Yet, themes behind family members’ psychological ownership in the business are not adequately shown in the literature. Accordingly, this study focuses on understanding the role of psychological ownership of managers who have a kinship to owners, without having legal ownership rights to the business. Using psychological ownership theory as the theoretical lenses, the emerging themes determining manager’s personal, family and business objectives were explored. Based on purposive sampling technique, twenty managers from twelve diverse family businesses were selected as respondents for interviews. In the data analysis, three main behavioural themes of managers in relation to longevity of the business emerged: ‘business objectives focused’, ‘family objectives focused’ and ‘self-identity’. Results of the analysis indicated that managers from family without having legal ownership rights are exhibiting extra-role stewardship and task performance behaviours, which are important to the longevity of the business. Further, to ulfill family and business requirements, managers have shown the behaviour of ‘benevolent leader’ coordinating business, family and other stakeholders driving the business satisfying family and other partners in the short term. Self-identity as a co-worker of the business and recognition as a legal owner are identified as claims of managers from owning family without having ownership rights to the business. Practically, these findings encourage effective governance decisions of family businesses.

Czech name

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Czech description

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Type

J_ost - Miscellaneous article in a specialist periodical

CEP classification

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OECD FORD branch

50204 - Business and management

Project

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Continuities

S - Specificky vyzkum na vysokych skolach

Publication year

2017

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Journal of Innovation Management in Small and Medium Enterprises

ISSN

2166-076X

e-ISSN

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Volume of the periodical

2017

Issue of the periodical within the volume

1

Country of publishing house

US - UNITED STATES

Number of pages

9

Pages from-to

1-9

UT code for WoS article

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EID of the result in the Scopus database

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