Title: Identity diversity in family firms: concept and implications
Authors: Praet, Alain
Issue Date: Jun-2011
Host Document: Intelligence and Courage for the Development of Family Business
Conference: IFERA edition:11 location:Palermo (Sicily) date:June 28 - July 1, 2011
Abstract: Based on Akerlof and Kranton (2000, 2005), I introduce the concept of identity, a person’s sense of self, as a novel way to approach the concept of familiness. As such it extends the classical economic theory that depicts utility as a fixed function of income and effort to a utility function that is situation-dependent. A person’s identity is determined by the perceptions of how one should behave according to the social category one belongs to. Accordingly, I view the family firm as a combination of different groups that may have different identities. These groups include family members as well as other stakeholders such as the employees. As a result, family firms exhibit varying degrees of diversity in identities. Therefore, I suggest a categorization of family firms based on the diversity of identities and performance measures that fit each of these different categories.
ISBN: 978-88-95272-99-3
Publication status: published
KU Leuven publication type: IC
Appears in Collections:Faculty of Economics and Business (FEB) - miscellaneous
Research Centre for Quantitative Business Processes, Campus Brussels (-)

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