A model of psychological ownership in next-generation members of family-owned firms: A qualitative study
AbstractThe present research study is intended to provide further insights into the psychological ownership experienced by next-generation members in relation to their family firms. As this is still a very young area of research, explorative research is needed. Therefore, a mixed-methods qualitative investigation, using a sample of 20 next-generation members of family-owned firms of different sizes, generational stages and business sectors, was performed. Through interpretative phenomenological and ethnographic analyses, the origin, transmission and manifestations of psychological ownership towards the family business were studied. The study also explored the factors that foster or undermine the development of a healthy and fulfilling relationship between next-generation members and the family business. Our findings suggest that next-generation members generally experience strong levels of psychological ownership. The development of positive psychological ownership is associated with factors including shared experiences, well-functioning governance bodies, structured and planned entry to the business, psychological empowerment, and share ownership, among others.
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Bibliographic InfoPaper provided by IESE Business School in its series IESE Research Papers with number D/929.
Length: 23 pages
Date of creation: 01 Jul 2011
Date of revision:
next generation; psychological ownership; family-owned firms; qualitative research;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-10-09 (All new papers)
- NEP-BEC-2011-10-09 (Business Economics)
- NEP-CBE-2011-10-09 (Cognitive & Behavioural Economics)
- NEP-HME-2011-10-09 (Heterodox Microeconomics)
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