Long-Term Orientation and Intertemporal Choice in Family Firms

被引:464
作者
Lumpkin, G. Tom [1 ]
Brigham, Keith H. [2 ]
机构
[1] Syracuse Univ, Whitman Sch Management, Syracuse, NY 13210 USA
[2] Texas Tech Univ, Jerry S Rawls Coll Business, Lubbock, TX 79409 USA
关键词
UNIFIED SYSTEMS PERSPECTIVE; DOMINANT LOGIC; OUT-COMPETE; BUSINESSES; TIME; PERFORMANCE; GOVERNANCE; SUCCESSION; MANAGEMENT; DECISION;
D O I
10.1111/j.1540-6520.2011.00495.x
中图分类号
F [经济];
学科分类号
02 ;
摘要
A long-term orientation (LTO) is often associated with family firms, but the LTO construct is underdeveloped. This paper sets forth a framework for studying LTO in family firms including developing three dimensionsfuturity, continuity, and perseverance. It identifies LTO as a higher-order heuristic that, in matters of intertemporal choice, provides a dominant logic for decisions and actions. Intertemporal choice refers to decisions with payoffs or outcomes that play out over time. Three mechanisms affecting intertemporal choices are identifiedrepresentation, self-control, and anticipation. LTO and intertemporal choice are further examined and discussed in the context of family firms.
引用
收藏
页码:1149 / 1169
页数:21
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