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Medientyp:
E-Artikel
Titel:
Exit Strategies in Family Firms: How Socioemotional Wealth Drives the Threshold of Performance
Beteiligte:
DeTienne, Dawn R.;
Chirico, Francesco
Erschienen:
SAGE Publications, 2013
Erschienen in:Entrepreneurship Theory and Practice
Sprache:
Englisch
DOI:
10.1111/etap.12067
ISSN:
1042-2587;
1540-6520
Entstehung:
Anmerkungen:
Beschreibung:
<jats:p>Although research has shown the ability to exit from both successful and unsuccessful ventures is important to founders, families, firms, industries, and overall economic health, exiting from a family firm can be especially challenging. In this paper, we examine exit strategies in the context of the family firm and the family firm portfolio. Drawing upon threshold theory and the socioemotional wealth perspective, we develop a model that provides guiding theoretical explanations for exit strategies. We address two questions: (1) why do family owners develop specific exit strategies, and (2) how do these strategies differ within family firms and family firm portfolios? In doing so, we contribute to family business, portfolio entrepreneurship, and exit literatures.</jats:p>