Rights statement: Originally published early online by Wiley, journal moved to Sage before it was fully published. This is the peer reviewed version of the following article: De Massis, A., Kotlar, J., Mazzola, P., Minola, T. and Sciascia, S. (2016), Conflicting Selves: Family Owners' Multiple Goals and Self-Control Agency Problems in Private Firms. Entrepreneurship Theory and Practice. doi:10.1111/etap.12257 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/etap.12257/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
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Final published version
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 - Conflicting selves
T2 - family owners’ multiple goals and self-control agency problems in private firms
AU - De Massis, Alfredo Vittorio
AU - Kotlar, Josip
AU - Mazzola, Pietro
AU - Minola, Tommaso
AU - Sciascia, Salvatore
N1 - This is the peer reviewed version of the following article: De Massis, A., Kotlar, J., Mazzola, P., Minola, T. and Sciascia, S. (2016), Conflicting Selves: Family Owners' Multiple Goals and Self-Control Agency Problems in Private Firms. Entrepreneurship Theory and Practice. doi:10.1111/etap.12257 which has been published in final form at http://onlinelibrary.wiley.com/doi/10.1111/etap.12257/abstract This article may be used for non-commercial purposes in accordance With Wiley Terms and Conditions for self-archiving.
PY - 2018/5/1
Y1 - 2018/5/1
N2 - This study examines the self-control agency problems associated with family ownership in private firms. Theorizing that family owners’ inner conflicts between economic and non-economic goals lead to competing preferences in the allocation of financial resources, we predict that the relationship between financial slack and firm profitability is contingent on factors that increase the potential salience of either economic or non-economic goals for family owners. Accordingly, our findings suggest that self-control is a separate source of agency costs in private firms and that family ownership is not as crucial as owners’ goals in predicting the impact of financial slack on firm profitability.
AB - This study examines the self-control agency problems associated with family ownership in private firms. Theorizing that family owners’ inner conflicts between economic and non-economic goals lead to competing preferences in the allocation of financial resources, we predict that the relationship between financial slack and firm profitability is contingent on factors that increase the potential salience of either economic or non-economic goals for family owners. Accordingly, our findings suggest that self-control is a separate source of agency costs in private firms and that family ownership is not as crucial as owners’ goals in predicting the impact of financial slack on firm profitability.
U2 - 10.1111/etap.12257
DO - 10.1111/etap.12257
M3 - Journal article
VL - 42
SP - 362
EP - 389
JO - Entrepreneurship Theory and Practice
JF - Entrepreneurship Theory and Practice
SN - 1042-2587
IS - 3
ER -