The Psychological Foundations of Management in Family Firms: Values, Biases, and Heuristics

Pasquale Massimo Picone, Alfredo De Massis, Yi Tang, Ronald F. Piccolo

Research output: Contribution to journalArticlepeer-review

1 Citation (Scopus)

Abstract

Considering the heterogeneity of family firm behaviors as reflecting the values, biases, and heuristics of individuals, we discuss the implications of the psychological foundations of management in family firms. We develop a conceptual framework for investigating how the values, biases, and heuristics of family and nonfamily members affect strategic decision-making and the outcomes of family firms. To advance the field, we put forward some relevant questions and offer a future research agenda at the intersection of the psychological foundations of management and family business.
Original languageEnglish
Number of pages21
JournalFamily Business Review
Publication statusPublished - 2021

All Science Journal Classification (ASJC) codes

  • Business, Management and Accounting (miscellaneous)
  • Finance

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