Long-term Orientation of Family Firms [electronic resource] : An Investigation of R&D Investments, Downsizing Practices, and Executive Pay /
Block, Jörn.author.
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.
Description based upon print version of record.
Includes bibliographical references.
Family firms -- Long-term orientation of firms -- Data and method -- Performance of family firms -- Family firms and R&D spending -- Family firms and employment downsizing -- Family firms and executive pay -- Executive pay in family firms: a principal-agent model -- Summary, implications, and outlook.
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.
Leadership.
Management.
Business Strategy/Leadership.
Management.