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Cited by 292

The DOI matches its Crossref record; 92 of the 92 references it cites were found in a registry or an index.

Nonfamily Managers, Family Firms, and the Winner's Curse: The Influence of Noneconomic Goals and Bounded Rationality

Open access
Chrisman, James J., Memili, Esra, Misra, Kaustav·2014·Entrepreneurship Theory and Practice
DOI 10.1111/etap.12014
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Abstract

We explain why family–centered noneconomic goals and bounded rationality decrease the willingness and ability of small– and medium–sized family firms to hire and provide competitive compensation to nonfamily managers even in a labor market composed of stewards rather than agents. Family–centered noneconomic goals attenuate the ability to attract high–quality, nonfamily managers by promoting inferior total compensation packages, fewer opportunities for advancement, idiosyncratic strategies, and higher performance expectations. Furthermore, bounded rationality limits nonfamily managers’ ability to meet performance expectations when hired. The result is the “winner's curse,” where neither the economic nor noneconomic goals of family owners are fully achieved.

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Metadata

Authors
Chrisman, J. J., Memili, E., & Misra, K.
Venue
Entrepreneurship Theory and Practice
Publisher
SAGE Publications
Published
2014-09
Volume
38
Issue
5
Pages
1-25
ISSN
  • 1042-2587 (ISSN-L)
  • 1540-6520
DOI
10.1111/etap.12014
OpenAlex
W3210762296
Cited by
292
References
92
FWCI
27.51
Type
journal article
Language
en
Open access
green

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