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The Choice Between Wholly Owned Subsidiaries and Joint Ventures Within Family Firms: A Theoretical Investigation from the Socioemotional Wealth Perspective

In: Family Firms into International Markets

Author

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  • Claudia Pongelli

    (University of Rome Tor Vergata)

Abstract

Recent applications of behavioral theories into the context of family-controlled firms assert a preference of family decision-makers for strategic actions that allow them Socioemotional Wealth (SEW) preservation, which ultimately means avoiding losing control of the firm. This chapter theoretically investigates how family control loss aversion drives family leaders’ entry mode decisions and, more specifically, the choice between settling a wholly-owned subsidiary and a joint venture in the foreign country. The conceptual argumentation proposed suggests that that family leaders are either more or less willing to preserve family control—entering the foreign market through a wholly-owned subsidiary—depending on whether the firm is exposed to low or high performance and emotional hazards as well as high cultural distance between the domestic and the foreign country.

Suggested Citation

  • Claudia Pongelli, 2022. "The Choice Between Wholly Owned Subsidiaries and Joint Ventures Within Family Firms: A Theoretical Investigation from the Socioemotional Wealth Perspective," Springer Books, in: Family Firms into International Markets, chapter 0, pages 35-54, Springer.
    • Handle: RePEc:spr:sprchp:978-3-031-05398-6_3
    DOI: 10.1007/978-3-031-05398-6_3
    as

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