Just about money? CEO satisfaction and firm performance in small family firms
Small Business Economics(2017)
摘要
This paper examines how family ownership and family ties influence the relative importance of economic and non-economic goals on the CEO’s satisfaction with the firm. Using a sample of small high-tech family and non-family firms, we show that the influence of past firm economic performance on CEO satisfaction is weaker in the case of CEOs leading a family firm. Our results also suggest that this influence becomes weaker as the family firm transitions into subsequent generations. However, contrary to our expectations, we were not able to find a differential effect of firm performance on CEO satisfaction between CEOs who belong to the controlling family and those who do not.
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关键词
CEO satisfaction, Economic performance, Non-economic goals, Family firms, M12, M14, M21, M50
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