How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms / William Mullins, Antoinette Schoar.

Format:

Book

Author/Creator:

Mullins, William.

Contributor:

National Bureau of Economic Research.

Schoar, Antoinette.

Series:

Working Paper Series (National Bureau of Economic Research) no. w19395.

NBER working paper series no. w19395

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2013.

Summary:

Using a survey of 800 CEOs in 22 emerging economies we show that CEOs' management styles and philosophy vary with the control rights and involvement of the owning family and founder: CEOs of firms with greater family involvement have more hierarchical management, and feel more accountable to stakeholders such as employees and banks than they do to shareholders. They also see their role as maintaining the status quo rather than bringing about change. In contrast, professional CEOs of non-family firms display a more textbook approach of shareholder-value-maximization. Finally, we find a continuum of leadership arrangements in how intensively family members are involved in management.

Notes:

Print version record

September 2013.