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Self–Serving or Self–Actualizing? Models of Man and Agency Costs in Different Types of Family Firms: A Commentary on “Comparing the Agency Costs of Family and Non–family Firms: Conceptual Issues and Exploratory Evidence”
Abstract
Agency theory is suitable to explain the effects of relationships among organizational actors on efficiency. What is missing is a framework to explain behaviors aimed at maximizing performance within organizations in which a pro-organizational attitude coexists with self-serving motives, such as family firms. In this paper we suggest that differences in organizational performance are not driven by family involvement or lack thereof, but by the prevalence of agency or stewardship relationships within the firm, whatever the degree of family involvement.
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Citations
Cites
Agency Theory: An Assessment and Review
Eisenhardt, K. M. (1989) · The Academy of Management Review · doi:10.5465/amr.1989.4279003 · Cited by 13,338
Cited by
Innovation in family firms: A systematic literature review and guidance for future research
Calabrò, A., Vecchiarini, M., Gast, J., Campopiano, G., De Massis, A., & Kraus, S. (2019) · International Journal of Management Reviews · doi:10.1111/ijmr.12192 · Cited by 495
Are family managers agents or stewards? An exploratory study in privately held family firms
Chrisman, J. J., Chua, J. H., Kellermanns, F. W., & Chang, E. P. C. (2007) · Journal of Business Research · doi:10.1016/j.jbusres.2006.12.011 · Cited by 455
The Internationalization of Family Firms: A Critical Review and Integrative Model
Pukall, T. J., & Calabrò, A. (2014) · Family Business Review · doi:10.1177/0894486513491423 · Cited by 420
Is family leadership always beneficial?
Miller, D., Minichilli, A., & Corbetta, G. (2013) · Strategic Management Journal · doi:10.1002/smj.2024 · Cited by 409
Self-citationThe role of family ownership in international entrepreneurship: exploring nonlinear effects
Sciascia, S., Mazzola, P., Astrachan, J. H., & Pieper, T. M. (2012) · Small Business Economics · doi:10.1007/s11187-010-9264-9 · Cited by 329
Metadata
- Authors
- Corbetta, G., & Salvato, C.
- Venue
- Entrepreneurship Theory and Practice
- Publisher
- SAGE Publications
- Published
- 2004-07
- Volume
- 28
- Issue
- 4
- Pages
- 355-362
- ISSN
- 1042-2587 (ISSN-L)
- 1540-6520
- OpenAlex
- W2027509437
- Cited by
- 713
- References
- 1
- FWCI
- 15.78
- Type
- journal article
- Language
- en
- Open access
- closed
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- CoChat. (2026). Citation check: Self–Serving or Self–Actualizing? Models of Man and Agency Costs in Different Types of Family Firms: A Commentary on “Comparing the Agency Costs of Family and Non–family Firms: Conceptual Issues and Exploratory Evidence”. https://app.cochat.ai/papers/10.1111/j.1540-6520.2004.00050.x
- The paper
- Corbetta, G., & Salvato, C. (2004). Self–Serving or Self–Actualizing? Models of Man and Agency Costs in Different Types of Family Firms: A Commentary on “Comparing the Agency Costs of Family and Non–family Firms: Conceptual Issues and Exploratory Evidence”. Entrepreneurship Theory and Practice. https://doi.org/10.1111/j.1540-6520.2004.00050.x
Data sources
Bibliographic data: Semantic Scholar, OpenAlex, Crossref.
Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
Semantic Scholar’s data is described in: Kinney, R., et al. (2023). The Semantic Scholar Open Data Platform. arXiv:2301.10140.
