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The Will to Sustain Through Shocks, Wars and Crises: How the History of a Country Influences the Behaviour of the Family CEO

Author

Listed:
  • Soumaya El Hayek Sfeir

    (Excelia Business School)

  • Andreas Kallmuenzer

    (Excelia Business School)

Abstract

What affects family CEO behaviour? The answer to this question is fundamental if we aim to understand the decisions of family CEOs, in particular when facing a crisis. In this article, we examine how the history of a country, in our case Lebanon in the Middle-East, influences the behaviour of CEOs. We particularly focus on family firms as history-dense organizations with its multiple adversities. Investigating this neglected aspect of history research, we emphasize the role of environment in shaping the decision making of family CEOs. Drawing on neuroscience and particularly on mental time travel, we explore the influence of the shocks these people have experienced in their country and how their actions are inspired by what they have previously lived. Our findings from a longitudinal study of five cases show that when family firms face the dual challenge of survival and growth in a turbulent environment, the family CEO has to make bold decisions.

Suggested Citation

  • Soumaya El Hayek Sfeir & Andreas Kallmuenzer, 2025. "The Will to Sustain Through Shocks, Wars and Crises: How the History of a Country Influences the Behaviour of the Family CEO," Journal of Family and Economic Issues, Springer, vol. 46(1), pages 297-318, March.
    • Handle: RePEc:kap:jfamec:v:46:y:2025:i:1:d:10.1007_s10834-024-09985-5
    DOI: 10.1007/s10834-024-09985-5
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