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Emotions and Family Business Creation: An Extension and Implications

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  • Laura J. Stanley

Abstract

Morris, Allen, Kuratko, and Brannon found that family founders, nonfamily managers working in family firms, and nonfamily founders experience a wide range of emotions during the first 4 years of establishing a new business. They identify differences in the emotional experiences of these three groups. I extend their findings by suggesting that divergent emotional experiences may explain differences in risk–taking behavior between family and nonfamily firms, and between family firms. Furthermore, I suggest that family founders‘ early emotional experiences may affect the firm's culture, strategy, and decision–making processes well beyond the start–up phase.

Suggested Citation

  • Laura J. Stanley, 2010. "Emotions and Family Business Creation: An Extension and Implications," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1085-1092, November.
    • Handle: RePEc:sae:entthe:v:34:y:2010:i:6:p:1085-1092
    DOI: 10.1111/j.1540-6520.2010.00414.x
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    References listed on IDEAS

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    1. Michael H. Morris & Jeffrey A. Allen & Donald F. Kuratko & David Brannon, 2010. "Experiencing Family Business Creation: Differences between Founders, Nonfamily Managers, and Founders of Nonfamily Firms," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1057-1084, November.
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    Cited by:

    1. Bee, Colleen & Neubaum, Donald O., 2014. "The role of cognitive appraisal and emotions of family members in the family business system," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 323-333.
    2. Ramos, Hazel Melanie & Man, Thomas Wing Yan & Mustafa, Michael & Ng, Zuie Zuie, 2014. "Psychological ownership in small family firms: Family and non-family employees’ work attitudes and behaviours," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 300-311.
    3. Martin R.W. Hiebl & Zhen Li, 2020. "Non-family managers in family firms: review, integrative framework and future research agenda," Review of Managerial Science, Springer, vol. 14(4), pages 763-807, August.
    4. Morgan, Timothy J. & Gomez-Mejia, Luis R., 2014. "Hooked on a feeling: The affective component of socioemotional wealth in family firms," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 280-288.
    5. Alexandra Bertschi-Michel & Nadine Kammerlander & Vanessa M. Strike, 2020. "Unearthing and Alleviating Emotions in Family Business Successions," Entrepreneurship Theory and Practice, , vol. 44(1), pages 81-108, January.
    6. Kimberly A. Eddleston & James J. Chrisman & Lloyd P. Steier & Jess H. Chua, 2010. "Governance and Trust in Family Firms: An Introduction," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1043-1056, November.
    7. Sah, Nilesh B. & Banerjee, Anandi & Malm, James & Rahman, Anisur, 2022. "A good name is better than riches: Family firms and working capital management," Journal of Behavioral and Experimental Finance, Elsevier, vol. 33(C).
    8. Georgiou, Thoukis & Papasolomou, Ioanna & Vrontis, Demetris & Thrassou, Alkis, 2023. "Market-oriented succession effectiveness in family business – Case-based evidence from Cyprus family-owned wine business," Journal of Business Research, Elsevier, vol. 165(C).
    9. Pearce, Craig L. & Houghton, Jeffrey D. & Manz, Charles C. & Dillon, Pamela J. & Fugate, Mel & Wassenaar, Christina L., 2023. "Time for a group hug? Toward a theory of shared emotional leadership in and of family business," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    10. Drakopoulou Dodd, Sarah & Anderson, Alistair & Jack, Sarah, 2013. "Being in time and the family owned firm," Scandinavian Journal of Management, Elsevier, vol. 29(1), pages 35-47.
    11. Wright, Mike & Kellermanns, Franz W., 2011. "Family firms: A research agenda and publication guide," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 187-198.
    12. Nilesh B. Sah & Anandi Banerjee & James Malm & Anisur Rahman, 2021. "A Good Name Is Better Than Riches: Family Firms and Working Capital Management," Discussion Paper Series 2021-02, McColl School of Business, Queens University of Charlotte.
    13. Evelyn Stommel & Nicole Gottschalck & Andreas Hack & Kimberly A. Eddleston & Franz Kellermanns & Nils Kraiczy, 2024. "What is Your Reference Point? How Price Volatility and Organizational Context Affect the Reference Points of Family and Nonfamily Managers," Small Business Economics, Springer, vol. 63(2), pages 805-829, August.

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