کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
1020028 940830 2012 9 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
The role of regret in the owner-manager decision-making in the family business: A conceptual approach
موضوعات مرتبط
علوم انسانی و اجتماعی مدیریت، کسب و کار و حسابداری کسب و کار و مدیریت بین المللی
پیش نمایش صفحه اول مقاله
The role of regret in the owner-manager decision-making in the family business: A conceptual approach
چکیده انگلیسی

This article responds to recent calls of scholars for more research on emotions in the family business by providing an initial analytical study of the owner-manager regret in decision-making. First, we suggest an enlarged theoretical framework for analyzing decision-making in the family business by building on the behavioural model of emotions in decision-making of Loewenstein and Lerner (2003) and Regret Theory. Second, we offer a first characterization of the emotion of regret in the family business. Given the overlap between the family and the business systems, we introduce a dual dimension of regret that is family-based and business-based. We also extend the analysis towards a dynamic view of regret by accounting for the owner-manager's experienced regret at the time of decision in addition to the traditionally analyzed expected regret. Departing from the common assumption that the owner-manager is altruistic towards the family and acts as a steward for the business, we consider that the owner-manager's expected outcomes refer to emotional and financial value maximization. Based on these characterizations, we develop a conceptual model with a series of propositions on the role of the owner-manager regret in decision-making. Finally, we present the theoretical, conceptual and practical contributions of the study as well as its limitations from which stem research avenues on regret and decision-making in the family business.


► Introduction of the emotion of regret in decision-making.
► Original characterization of the emotion of regret in the family business.
► Extension of models of emotions in decision-making from behavioural economics to the family business.
► A dynamic perspective of regret
► Conceptual model of the role of regret in decision-making.

ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Family Business Strategy - Volume 3, Issue 2, June 2012, Pages 118–126
نویسندگان
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