Thomas Zellweger, Philipp Sieger, Corinne Mühlebach
Based on recent calls by researchers to apply concepts established in entrepreneurship theory in the family business context in order to advance both fields of research, this chapter examines to what...
Entrepreneurial Orientation in long-lived Family Firms (2010)
Thomas Zellweger, Philipp Sieger
We apply a key construct from the entrepreneurship field, entrepreneurial orientation (EO), in the context of long-lived family firms. Our qualitative in-depth case studies show that a permanently...
Esra Memili, Kimberley H. Eddleston, Thomas Zellweger, Franz W. Kellermanns, Tim Barnett
Drawing on organizational identity theory, we develop a model linking family ownership and expectations, entrepreneurial risk taking, and image in family firms to explain family firm growth. Testing...
Building a Family Firm Image: How Family Firms can capitalize on their Familiness (2010)
Thomas Zellweger, Franz W. Kellermanns, Kimberley H. Eddleston
There is much debate regarding whether family firms have a competitive advantage in the marketplace. Some believe that their greatest competency may be their familiness; or the resources that accrue...
Portfolio Entrepreneurship in Transgenerational Family Firms (2009)
Robert S. Nason, Philipp Sieger, Thomas Zellweger
This paper seeks to extend our understanding of the growing field of Portfolio Entrepreneurship, the simultaneous ownership and engagement in several business activities (Westhead & Wright 1998;...
Family Firm Valuation by Family FIRM CEOs: The Role of Socioemotional Value (2009)
Thomas Zellweger, Franz W. Kellermanns, James J. Chrisman, Jess H. Chua
Based on the contentions of prospect theory that ownership endows possessions with a value premium, this study provides evidence that socioemotional value in family firms influences the monetary...
Thomas Zellweger, Philipp Sieger
Die vorliegende Studie geht der Frage nach, wie emotionale Aspekte im Zusammenhang mit Unternehmenseigentum bewertet werden. Sie gibt einen vertieften Einblick in die Psychologie von...
Corporate Entrepreneurship and Image in Family Firms (2009)
Esra Memili, Franz W. Kellermanns, Kimberley H. Eddleston, Thomas Zellweger, Tim Barnett
The impact of family ownership and family expectations on corporate entrepreneurship and family firm image has been underresearched. Drawing on corporate entrepreneurship and organizational identity...
Why do firms strive for non-financial performance (2009)
Thomas Zellweger, Robert S. Nason, M. Nordqvist, Candida Brush
This paper develops a social identity based rationale for why firms strive for non-pecuniary performance outcomes. It extends current social and financial rationales for such motivations. Drawing...
Entrepreneuship in Family Firms (2008)
It is often questioned whether the family acts as a resource or a constraint to family firms. Family firms are often depicted as having problems with nepotism and hiring family members that lack the...
Intangible resources and performance in family firms: the moderating role of familiness (2008)
Thomas Zellweger, Lucia Naldi, Mattias Nordqvist
The resource-based view (RBV) holds that firms compete on the basis of their resources and capabilities. In family businesses, family related attributes such as commitment, know-how shared values,...
Lucia Naldi, Mattias Nordqvist, Thomas Zellweger
According to the RBV, intangible resources might be sources of sustainable competitive advantage because they are ingrained in the unique interaction between the family and its firm and inherently...
Why do firms strive for non-pecuniary performance? (2008)
Thomas Zellweger, Robert S. Nason, Mattias Nordqvist
The present paper develops an explanation of non-pecuniary performance of firms, which extends current ethical and financial rational and encompasses multiple levels of stakeholder analysis. Drawing...
Family Firm Reputation Concern: Antecedents and performance outcomes (2008)
Thomas Zellweger, Franz W. Kellermanns
Utilizing a social identity theory perspective, we argue that family firm reputation concern mediates the relationship between long-term orientation, family firm pride, and social capital on family...
A note on soicoemotional wealth as a determinant of family firm valuations by family owners (2008)
Thomas Zellweger, Franz W. Kellermanns, James J. Chrisman, Jess H. Chua
We apply the concept of the endowment effect from prospect theory to investigate the determinants of family owners valuations of family firms. We extend the work of Gomez-Mejia et al. (2007) by...
Thomas Zellweger, Corinne Mühlebach, Philipp Sieger
The present paper examines to what degree the Entrepreneurial Orientation (EO) construct is prolific in explaining business activity of firms with a transgenerational outlook. In particular, we are...
A stakeholder perspective to family firm performance (2008)
Thomas Zellweger, Robert S. Nason
Through the lens of stakeholder theory this text deepens our understanding of financial and nonfinancial performance outcomes in family firms across multiple stakeholder categories, including the...
On the Emotional Value of Organizational Ownership (2008)
Thomas Zellweger, Joseph H. Astrachan
This article examines how owners of firms subjectively value their ownership stake in monetary terms. We utilize endowment and possession attachment literature to investigate how emotional benefits...
Strategien zur Wertsteigerung in Familienunternehmen (2008)
Thomas Zellweger, Corinne Mühlebach
Dieses Buch verbindet auf innovative Weise bewährte Konzepte des strategischen Managements mit den besonderen Herausforderungen der Führung von Familienunternehmen. Das strategische Management des...
Family Firm Valuation by Family Firm CEOs (2008)
Thomas Zellweger, Franz W. Kellermanns, James J. Chrisman, Jess H. Chua
Performance of family firms: A literature review and guidance for future research (2008)
Thomas Zellweger, Joseph H. Astrachan
Numerous studies have investigated the impact of family influence on the performance of a firm. The most-cited scholarly article in this respect was published by Anderson and Reeb (2003) who found...
Time Horizon, Costs of Equity Capital and Generic Investment Strategies of Firms (2007)
How does a differing time horizon affect a firms costs of equity capital and its investment possibilities.
Risk, return and value in the family firm (2006)
Die vorliegende Arbeit untersucht empirisch, welche Faktoren die Kapitalstruktur sowie die Kontrollrisikoaversion von Familienunternehmen beeinflussen. Die Arbeit zeigt, dass Verhaltensaspekte einen...
Risk, Return and Value in the Family Firm (2006)
Die vorliegende Arbeit untersucht empirisch, welche Faktoren die Kapitalstruktur sowie die Kontrollrisikoaversion von Familienunternehmen beeinflussen. Die Arbeit zeigt, dass Verhaltensaspekte einen...
A conceptual model of transgenerational entrepreneurship in family-influenced firms (2006)
C. Cruz, Tim Habbershon, M. Nordqvist, C. Salvato, Thomas Zellweger
Risk, Return and Value in the Family Firm (2006)
The present text investigates the singularities of family firms with respect to their control risk aversion, their financial performance and their valuation. With regard to the control risk aversion...
Total Value - oder vom Wert des Glücks (2006)
Nicht rational begründbare Entscheide gibt es jeden Tag, so zum Beispiel, wenn ein Unternehmer «weitermacht», obwohl sein Unternehmen geschlossen werden müsste, da er objektiv gesehen Wert...
Finanzielles Risiko- und Investitionsverhalten von Familienunternehmen (2005)
Thomas Zellweger, Urs Fueglistaller
Privat gehaltene Familienunternehmen finanzieren sich in der Regel zuerst über eigene Mittel, um ihre Unabhängigkeit nicht zu gefährden. Zudem können sie aufgrund bewusst tiefer gehaltenen...
Thomas Zellweger, Roger Meister, Urs Fueglistaller
Recent studies provide empirical evidence that family firms are outperforming their non-family counterparts in terms of stock market performance. For the Swiss stock market we find that family firms...