The Impact of Relationship Conflict on subjective Family Firm Valuation

Zellweger, Thomas; Kellermanns, Franz; Sieger, Philipp (August 2010). The Impact of Relationship Conflict on subjective Family Firm Valuation. In: 70th Annual Academy of Management Meeting. New York: Academy of Management

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The present paper empirically investigates the impact of family relationship conflict on subjective firm valuation by family firm owner managers. Drawing on the emerging socioemotional wealth perspective of corporate ownership, we find a U-shaped relationship between relationship conflict inside the family firm and subjective family firm valuation. This finding suggests that negatively valenced emotions induced by the conflict, at low levels of conflict, lead to emotion congruent withdrawal behavior and hence lower valuation. With conflicts gaining in fervor and severity, owner-managers start endowing and pricing sunk costs related to the conflict. This finding suggests that emotions do indeed have spill-over effects on monetary value perceptions and that negatively valenced emotions induced by relationship conflict are not linearly appraised. Rather, to understand the impact of negative emotions on corporate ownership appraisal and attachment it is required to reconcile the emotion congruency with the prospect theory perspective.

Item Type:	Conference or Workshop Item (Paper)
Division/Institute:	03 Faculty of Business, Economics and Social Sciences > Department of Business Management > Institute of Innovation Management > Management
UniBE Contributor:	Sieger, Philipp
Subjects:	300 Social sciences, sociology & anthropology > 330 Economics 600 Technology > 650 Management & public relations
Publisher:	Academy of Management
Language:	English
Submitter:	Philipp Sieger
Date Deposited:	26 Jul 2016 13:09
Last Modified:	05 Dec 2022 14:57
URI:	https://boris.unibe.ch/id/eprint/84314