Exit Strategies in Family Firms: How Socioemotional Wealth Drives the Threshold of Performance

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To Merge, Sell, or Liquidate? Socioemotional Wealth, Family Control, and the Choice of Business Exit (2019, unknown): “In this regard, Lansberg (1988), DeTienne and Chirico (2013), and Sharma and Manikutty (2005) argue that family owners often avoid or deny such a reality, preferring instead to continue the operations of a failing business for affective rather than financial reasons.”
Firm Philanthropy in Small- and Medium-Sized Family Firms (2014, unknown): “…in management (i.e., the ratio between the number of family members serving as managers and the number of family members working in the firm) may be a “liability or burden that can be costly to family owners” (DeTienne & Chirico, 2013, p. 1313) who are committed to engaging in firm philanthropy.”
Does Family Involvement in Management Reduce the Risk of Business Failure? The Moderating Role of Entrepreneurial Orientation (2016, background): “We classified seven firms that disappeared as a result of a merger or acquisition and did not reflect any other relevant events as “nonfailure” since succession in corporate control or ownership does not imply business failure (DeTienne & Chirico, 2013).”