Family Firm Behavior From a Psychological Perspective

Sharma, P. and Chrisman, J.J. and Chua, J.H. and Steier, L.P. (2020) Family Firm Behavior From a Psychological Perspective. Entrepreneurship Theory and Practice, 44 (1). pp. 3-19. ISSN 1042-2587

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Abstract

The heterogeneity of family firms and their simultaneous pursuit of financial and nonfinancial goals is well established in the literature. However, causal factors underlying the variance in the goals, behaviors, and performance of family firms remain unclear. To help fill this gap, the articles in this special issue point to psychological aspects of individuals and families that underpin family firm behaviors and outcomes. Building on the theme of psychological influences, this introductory article discusses how the integration of five areas of psychology can accelerate our understanding of the causes and consequences of individual and group behaviors in family firms.