Emotions and Family Business Creation: An Extension and Implications

Morris, Allen, Kuratko, and Brannon found that family founders, nonfamily managers working in family firms, and nonfamily founders experience a wide range of emotions during the first 4 years of establishing a new business. They identify differences in the emotional experiences of these three groups...

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Bibliographic Details
Published in:Entrepreneurship theory and practice 2010-11, Vol.34 (6), p.1085-1092
Main Author: Stanley, Laura J.
Format: Article
Language:English
Subjects:
Business management
Business organization
Business strategies
Corporate culture
Corporate governance
Emotions
Entrepreneurship
Evaluation
family businesses
Family corporations
Family firms
Family owned businesses
Family-owned business enterprises
Management research
Managers
Organizational behavior
risk taking
Social capital
Startups
Studies
Work environment
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Summary:Morris, Allen, Kuratko, and Brannon found that family founders, nonfamily managers working in family firms, and nonfamily founders experience a wide range of emotions during the first 4 years of establishing a new business. They identify differences in the emotional experiences of these three groups. I extend their findings by suggesting that divergent emotional experiences may explain differences in risk–taking behavior between family and nonfamily firms, and between family firms. Furthermore, I suggest that family founders‘ early emotional experiences may affect the firm's culture, strategy, and decision–making processes well beyond the start–up phase.
ISSN:1042-2587
1540-6520
DOI:10.1111/j.1540-6520.2010.00414.x