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Risk abatement as a strategy for R&D investments in family firms

Chrisman, James J. - ; Patel, Pankaj C. - ;

The behavioral agency model suggests family firms invest less in R&D than nonfamily firms to protect their socioemotional wealth. Studies support this contention but do not explain how family firms make R&D investments. We hypothesize that when performance exceeds aspirations, family firms manage socioemotional and economic objectives by making exploitative R&D investments that lead to more reliable and less risky sales levels. However, performance below aspirations leads to exploratory R&D investments that result in potentially higher but less reliable sales levels. Using a risk abatement model, our analyses of 847 firms over 10 years supports our hypotheses. .Printed Journal, baca ditempat


Ketersediaan

Call NumberLocationAvailable
SMJ3504PSB lt.dasar - Pascasarjana1
Penerbit: Wiley Periodicals
Edisi-
SubjekFamily firms
Risk abatement
R&D investment
Behavioral agency theory
ISBN/ISSN1432095
Klasifikasi-
Deskripsi Fisik-
Info Detail Spesifik-
Other Version/RelatedTidak tersedia versi lain
Lampiran BerkasTidak Ada Data

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