ENGLISH

Long-term Orientation of Family Firms: An Investigation of R&D Investments, Downsizing Practices, and Executive Pay

By Joern Block (auth.)

Book information

Publisher
Gabler Verlag
Year
2009
ISBN
978-3-8349-1959-5, 978-3-8349-8412-8
DOI
10.1007/978-3-8349-8412-8
Language
english
Format
PDF
Filesize
2 MB (1776106 bytes)
Edition
1
Pages
250\268
Time added
2014-01-18 08:00:00
Management/Business for Professionals

Description

Recently, firms have been criticized for focusing too strongly on the short term and for neglecting investments in assets and capabilities required for long-term success, such as investments in R&D or in employee training. Family firms are considered to be different. They are commonly assumed to be more long-term oriented than comparable non-family firms. Joern Block analyzes this phenomenon in more detail and investigates whether and under which conditions family firms pursue more long-term oriented strategies than other firms. To this end, he compares R&D activities, downsizing practices and executive compensation of family firms with those of non-family firms. He also develops a theoretical model of how to pay a non-family manager who works in a family firm.

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