Socioemotional Favoritism: Evidence from Foreign Divestitures in Family Multinationals

Autor:	Robert E. Hoskisson, Daniel Jinyong Zyung, Heechun Kim
Rok vydání:	2019
Předmět:	Organizational Behavior and Human Resource Management 050208 finance Multinational corporation Management of Technology and Innovation Strategy and Management 0502 economics and business 05 social sciences Business International economics 050203 business & management Divestment
Zdroj:	Organization Studies. 40:917-940
ISSN:	1741-3044 0170-8406
DOI:	10.1177/0170840619838955
Popis:	We theorize how family and non-family CEOs in family multinational enterprises (FMNEs) divest foreign subsidiaries. In doing so, we propose an integrative framework that supplements the socioemotional wealth perspective by introducing the notion of socioemotional favoritism. Using this framework, we hypothesize and find that family CEOs are less likely to divest than non-family CEOs by analyzing 161 Korean manufacturing FMNEs between 1998 and 2003. We also find that family CEOs avoid divesting foreign subsidiaries with larger affective endowments, particularly those under family control through threshold ownership and those located in host countries where families have already lost ownership of subsidiaries through past divestitures. We conclude by discussing the implications of our findings for the family firm literature.
Databáze:	OpenAIRE
Externí odkaz:	https://explore.openaire.eu/search/publication?articleId=doi_________::27685dc059d5e305010a96f0ebe35558 https://doi.org/10.1177/0170840619838955 Zobrazit plný text záznamu Plný text ve formátu PDF