Rights statement: This is the author’s version of a work that was accepted for publication in Journal of Family Business Strategy. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Family Business Strategy, 9, 2, 2018 DOI: 10.1016/j.jfbs.2018.02.001
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Available under license: CC BY-NC-ND: Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License
Final published version
Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
}
TY - JOUR
T1 - Reflections on family firm goals and the assessment of performance
AU - Chua, Jess H.
AU - Chrisman, James J.
AU - De Massis, Alfredo
AU - Wang, Hao
N1 - This is the author’s version of a work that was accepted for publication in Journal of Family Business Strategy. Changes resulting from the publishing process, such as peer review, editing, corrections, structural formatting, and other quality control mechanisms may not be reflected in this document. Changes may have been made to this work since it was submitted for publication. A definitive version was subsequently published in Journal of Family Business Strategy, 9, 2, 2018 DOI: 10.1016/j.jfbs.2018.02.001
PY - 2018/6
Y1 - 2018/6
N2 - Assessments of family firm effectiveness depend critically on how goals and performance outputs are measured. Similarly, assessments of family firm efficiency depend critically on how performance outputs and resource inputs are measured. We illustrate this by showing that the assessment of performance is affected by how different family firm goal systems are specified. Gaining a better understanding of these fundamental concepts gives family business scholars the rare opportunity to set the rules of the game about how the performance of family firms, and other organizations that pursue the non-financial goals of a dominant stakeholder, should be assessed.
AB - Assessments of family firm effectiveness depend critically on how goals and performance outputs are measured. Similarly, assessments of family firm efficiency depend critically on how performance outputs and resource inputs are measured. We illustrate this by showing that the assessment of performance is affected by how different family firm goal systems are specified. Gaining a better understanding of these fundamental concepts gives family business scholars the rare opportunity to set the rules of the game about how the performance of family firms, and other organizations that pursue the non-financial goals of a dominant stakeholder, should be assessed.
KW - Goals
KW - Performance
KW - Family business
KW - Socioemotional wealth
KW - Non-financial benefits
KW - Effectiveness
KW - Efficiency
U2 - 10.1016/j.jfbs.2018.02.001
DO - 10.1016/j.jfbs.2018.02.001
M3 - Journal article
VL - 9
SP - 107
EP - 113
JO - Journal of Family Business Strategy
JF - Journal of Family Business Strategy
SN - 1877-8585
IS - 2
ER -