The role of non-economic goals for psychological ownership in family firms Online publication date: Fri, 06-Mar-2015
by María Piedad López-Vergara; Isabel C. Botero
European J. of International Management (EJIM), Vol. 9, No. 2, 2015
Abstract: Family business scholars are increasingly interested in psychological and motivational factors that play a role in the involvement and commitment that family members show towards the family firm. Psychological ownership (PSO) and the importance of non-economic goals for the family are two areas that help us understand how and why family shareholders become motivated and committed to their family business. Using in-depth interviews, this paper explores the role that non-economic goals play in the motivation that family shareholders have to control, gain knowledge and invest time/effort into the family firm. Data was collected from 20 family firm shareholders in Finland (N = 6) and Colombia (N = 14). Results indicate that non-economic goals are important in the formation of PSO because they activate the individual sense of responsibility that motivates shareholders to exercise control, gain knowledge and invest time in the firm. Implications of these results and ideas for future research are discussed.
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.Complimentary Subscribers, Editors or Members of the Editorial Board of the European J. of International Management (EJIM):
Login with your Inderscience username and password:
Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.
If you still need assistance, please email subs@inderscience.com
Our Blog 
Follow us on Twitter 
Visit us on Facebook