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Going beyond Research on Goal Setting: A Proposed Role for Organizational Psychological Capital of Family Firms

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  • Esra Memili
  • Dianne H. B. Welsh
  • Fred Luthans

Abstract

Kotlar and De Massis found that membership assortment and the number of organizational members, as well as the imminence of succession, influence goal diversity in family firms. They also showed that goal diversity can be managed and family–centered goals can be stabilized through professional and familial social interactions, driving the formation of collective commitment to family–centered goals (CCFG). Using this research as a point of departure, we propose that CCFG may impact family firm economic and noneconomic performance. Furthermore, we introduce to the family firm literature the organizational psychological capital (OPC), consisting of hope, efficacy, resilience, and optimism. We also suggest that OPC may be more prevalent in family firms than in nonfamily firms. Moreover, OPC of family firms may play an important role in the link between CCFG and economic as well as noneconomic performance.

Suggested Citation

  • Esra Memili & Dianne H. B. Welsh & Fred Luthans, 2013. "Going beyond Research on Goal Setting: A Proposed Role for Organizational Psychological Capital of Family Firms," Entrepreneurship Theory and Practice, , vol. 37(6), pages 1289-1296, November.
    • Handle: RePEc:sae:entthe:v:37:y:2013:i:6:p:1289-1296
    DOI: 10.1111/etap.12066
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    References listed on IDEAS

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    Cited by:

    1. Melih Madanoglu & Esra Memili & Alfredo De Massis, 2020. "Home-based family firms, spousal ownership and business exit: a transaction cost perspective," Small Business Economics, Springer, vol. 54(4), pages 991-1006, April.
    2. Diane Arijs & Anneleen Michiels, 2021. "Mental Health in Family Businesses and Business Families: A Systematic Review," IJERPH, MDPI, vol. 18(5), pages 1-20, March.
    3. Torsten M. Pieper & Ralph I. Williams Jr. & Scott C. Manley & Lucy M. Matthews, 2020. "What Time May Tell: An Exploratory Study of the Relationship Between Religiosity, Temporal Orientation, and Goals in Family Business," Journal of Business Ethics, Springer, vol. 163(4), pages 759-773, May.
    4. Przemysław Zbierowski, 2016. "Positive Leadership and Corporate Entrepreneurship: Theoretical Considerations and Research Propositions," Entrepreneurial Business and Economics Review, Centre for Strategic and International Entrepreneurship at the Cracow University of Economics., vol. 4(3), pages 73-84.
    5. James J. Chrisman & Pramodita Sharma & Lloyd P. Steier & Jess H. Chua, 2013. "The Influence of Family Goals, Governance, and Resources on Firm Outcomes," Entrepreneurship Theory and Practice, , vol. 37(6), pages 1249-1261, November.
    6. Dianne H. B. Welsh & Eugene Kaciak, 2018. "Women’s entrepreneurship: A model of business-family interface and performance," International Entrepreneurship and Management Journal, Springer, vol. 14(3), pages 627-637, September.
    7. Welter, Chris & Scrimpshire, Alex, 2021. "The missing capital: The case for psychological capital in entrepreneurship research," Journal of Business Venturing Insights, Elsevier, vol. 16(C).
    8. Denise Fischer-Kreer & Andrea Greven & Isabel Catherine Eichwald & David Bendig & Malte Brettel, 2021. "Organizational Psychological Capital in Family Firms: the Role of Family Firm Heterogeneity," Schmalenbach Journal of Business Research, Springer, vol. 73(3), pages 413-441, December.
    9. Joohee Kim & Yonghwi Noh, 2016. "The effects of psychological capital and risk tolerance on service workers’ internal motivation for firm performance and entrepreneurship," International Entrepreneurship and Management Journal, Springer, vol. 12(3), pages 681-696, September.
    10. Hatak, Isabella & Kautonen, Teemu & Fink, Matthias & Kansikas, Juha, 2016. "Innovativeness and family-firm performance: The moderating effect of family commitment," Technological Forecasting and Social Change, Elsevier, vol. 102(C), pages 120-131.
    11. Gottschalck, Nicole & Guenther, Christina & Kellermanns, Franz, 2020. "For whom are family-owned firms good employers? An exploratory study of the turnover intentions of blue- and white-collar workers in family-owned and non-family-owned firms," Journal of Family Business Strategy, Elsevier, vol. 11(3).
    12. Jon C. Carr & James J. Chrisman & Jess H. Chua & Lloyd P. Steier, 2016. "Family Firm Challenges in Intergenerational Wealth Transfer," Entrepreneurship Theory and Practice, , vol. 40(6), pages 1197-1208, November.
    13. Julia Vincent Ponroy & Dianne & H.B. Welsh, 2020. "Advancing Research on Creativity in Family Firms," Working Papers 2020-001, Department of Research, Ipag Business School.
    14. Maura Pozzi & Carlo Pistoni & Silvio Carlo Ripamonti & Amalia De Leo, 2023. "Generation and Gender Differences in Family Businesses: A New Psychological Perspective," Journal of Family and Economic Issues, Springer, vol. 44(4), pages 919-934, December.
    15. Razan Abdullah Al Rawaf & Abdulaziz Abdulmohsen Alfalih, 2023. "The Role of Governance in Achieving Sustainability in Family-Owned Business: Do Responsible Innovation and Entrepreneurial Culture Matter?," Sustainability, MDPI, vol. 15(7), pages 1-23, March.
    16. Ali E. Ahmed & Deniz Ucbasaran & Gabriella Cacciotti & Trenton A. Williams, 2022. "Integrating Psychological Resilience, Stress, and Coping in Entrepreneurship: A Critical Review and Research Agenda," Entrepreneurship Theory and Practice, , vol. 46(3), pages 497-538, May.
    17. De Clercq, Dirk & Belausteguigoitia, Imanol, 2015. "Intergenerational strategy involvement and family firms’ innovation pursuits: The critical roles of conflict management and social capital," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 178-189.

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