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Self–Serving or Self–Actualizing? Models of Man and Agency Costs in Different Types of Family Firms: A Commentary on “Comparing the Agency Costs of Family and Non–family Firms: Conceptual Issues and Exploratory Evidenceâ€

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  • Guido Corbetta
  • Carlo Salvato

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  • Guido Corbetta & Carlo Salvato, 2004. "Self–Serving or Self–Actualizing? Models of Man and Agency Costs in Different Types of Family Firms: A Commentary on “Comparing the Agency Costs of Family and Non–family Firms: Conceptual Issu," Entrepreneurship Theory and Practice, , vol. 28(4), pages 355-362, July.
    • Handle: RePEc:sae:entthe:v:28:y:2004:i:4:p:355-362
    DOI: 10.1111/j.1540-6520.2004.00050.x
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    References listed on IDEAS

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    1. Jess H. Chua & James J. Chrisman & Lloyd P. Steier, 2003. "Extending the Theoretical Horizons of Family Business Research," Entrepreneurship Theory and Practice, , vol. 27(4), pages 331-338, October.
    2. Steier, Lloyd, 2003. "Variants of agency contracts in family-financed ventures as a continuum of familial altruistic and market rationalities," Journal of Business Venturing, Elsevier, vol. 18(5), pages 597-618, September.
    3. Greenwood, Royston, 2003. "Commentary on: "Toward a theory of agency and altruism in family firms"," Journal of Business Venturing, Elsevier, vol. 18(4), pages 491-494, July.
    4. Pollak, Robert A, 1985. "A Transaction Cost Approach to Families and Households," Journal of Economic Literature, American Economic Association, vol. 23(2), pages 581-608, June.
    5. Harvey James, 1999. "Owner as Manager, Extended Horizons and the Family Firm," International Journal of the Economics of Business, Taylor & Francis Journals, vol. 6(1), pages 41-55.
    6. Jensen, Michael C. & Meckling, William H., 1976. "Theory of the firm: Managerial behavior, agency costs and ownership structure," Journal of Financial Economics, Elsevier, vol. 3(4), pages 305-360, October.
    7. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation," Scholarly Articles 29407535, Harvard University Department of Economics.
    8. Morck, Randall & Shleifer, Andrei & Vishny, Robert W., 1988. "Management ownership and market valuation : An empirical analysis," Journal of Financial Economics, Elsevier, vol. 20(1-2), pages 293-315, January.
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    Cited by:

    1. Thomas Zellweger & Melanie Richards & Philipp Sieger & Pankaj C. Patel, 2016. "How Much Am I Expected to Pay for My Parents’ Firm? An Institutional Logics Perspective on Family Discounts," Entrepreneurship Theory and Practice, , vol. 40(5), pages 1041-1069, September.
    2. Alain Verbeke & Liena Kano, 2012. "The Transaction Cost Economics Theory of the Family Firm: Family–Based Human Asset Specificity and the Bifurcation Bias," Entrepreneurship Theory and Practice, , vol. 36(6), pages 1183-1205, November.
    3. James J. Chrisman & Esra Memili & Kaustav Misra, 2014. "Nonfamily Managers, Family Firms, and the Winner's Curse: The Influence of Noneconomic Goals and Bounded Rationality," Entrepreneurship Theory and Practice, , vol. 38(5), pages 1-25, September.
    4. Jon C. Carr & James J. Chrisman & Jess H. Chua & Lloyd P. Steier, 2016. "Family Firm Challenges in Intergenerational Wealth Transfer," Entrepreneurship Theory and Practice, , vol. 40(6), pages 1197-1208, November.
    5. Garry D. Smith, 2009. "East Africa: Extended Families with Many Rights," Entrepreneurship Theory and Practice, , vol. 33(6), pages 1239-1244, November.
    6. Allison W. Pearson & Laura E. Marler, 2010. "A Leadership Perspective of Reciprocal Stewardship in Family Firms," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1117-1124, November.
    7. Tim Barnett & Franz W. Kellermanns, 2006. "Are We Family and Are We Treated as Family? Nonfamily Employees’ Perceptions of Justice in the Family Firm," Entrepreneurship Theory and Practice, , vol. 30(6), pages 837-854, November.
    8. Hanqinq “Chevy†Fang & Robert V.D.G. Randolph & Esra Memili & James J. Chrisman, 2016. "Does Size Matter? The Moderating Effects of Firm Size on the Employment of Nonfamily Managers in Privately Held Family SMEs," Entrepreneurship Theory and Practice, , vol. 40(5), pages 1017-1039, September.
    9. Kimberly A. Eddleston & Franz W. Kellermanns & Thomas M. Zellweger, 2012. "Exploring the Entrepreneurial Behavior of Family Firms: Does the Stewardship Perspective Explain Differences?," Entrepreneurship Theory and Practice, , vol. 36(2), pages 347-367, March.
    10. Kimberly A. Eddleston & Roland E. Kidwell, 2012. "Parent–Child Relationships: Planting the Seeds of Deviant Behavior in the Family Firm," Entrepreneurship Theory and Practice, , vol. 36(2), pages 369-386, March.
    11. Pankaj C. Patel & James O. Fiet, 2011. "Knowledge Combination and the Potential Advantages of Family Firms in Searching for Opportunities," Entrepreneurship Theory and Practice, , vol. 35(6), pages 1179-1197, November.

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