1. Introduction. Unlike nonfamily firms, the behavior of family firms is anchored in their loss-aversion to socioemotional wealth (SEW) (Cennamo et al., 2012; Gast et al., 2018; Gomez-Mejia et al., 2011; Kotlar et al., 2018) rather than financial wealth.This is explained by the fact that family firms are mainly concerned about their ability to maintain managerial discretion and control of …
Get MoreYao and Sutherland (2009), Yao, Sutherland, and Chen (2010), and Xiao and Sun (2005) have pointed out that a distinctive feature of China's emergence as a major global investor is the country's national "Go Global" strategy. Selected large state-owned enterprises (SOEs) are deployed as investment vehicles supported with a soft-budget constraint and easy bank …
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