Main Article Content
The purpose of this work is to understand the role of family dynamics and culture in the development of psychological ownership of family shareholders. A qualitative and exploratory approach was used based on the study of 14 cases of Colombian shareholders and 5 cases of Finnish shareholders. The results show that family dynamics create opportunities to a) align expectations of the family concerning the business; b) improve communication between family members; c) consolidate common values in the family; and d), promote identification with the company. These opportunities foster the intention that family shareholders have to exercise control over the company, invest more time in it and, therefore, obtain a better understanding of it, which promotes the development of psychological ownership. When the two contexts were compared, it was found that the level of collectivism and individualism in each culture permeates the opportunities generated by family dynamics. In this sense, similarities were found regarding the alignment of expectations, communication, and interaction between family members, and identification with the company. On the other hand, it was observed that the dynamics that promote identification with the company through parents’ messages and the handling of different opinions generate a favorable environment that encourages psychological ownership in the Colombian case, but not in the Finnish one.
Astrachan, J. H. (2010). Strategy in family business: Toward a multidimensional research agenda. Journal of Family Business Strategy, 1(1), 6-14. https://doi.org/10.1016/j.jfbs.2010.02.001
Astrachan, J. H., Klein, S. B., & Smyrnios, K. X. (2002). The F-PEC scale of family influence: A proposal for solving the family business definition problem1. Family Business Review, 15(1), 45-58. https://doi.org/10.1111/j.1741-6248.2002.00045.x
Bandura, A. (1977). Self-efficacy: toward a unifying theory of behavioral change. Psychological Review, 84(2), 191-215. https://doi.org/10.1016/0146-6402(78)90002-4
Barnett, T., & Kellermanns, F. W. (2006). Are we family and are we treated as family? Nonfamily employees’ perceptions of justice in the family firm. Entrepreneurship Theory and Practice, 30(6), 837-854. https://doi.org/10.1111/j.1540-6520.2006.00155.x
Bernhard, F., & Jaskiewicz, P. (2011). Ownership perceptions in family businesses: Psychological difficulties of the retiring owner-manager (pp. 189-216). In I. Stamm, P. Breitschmid, & M. Kohli (Eds.), Doing succession in Europe: Generational transfers in family businesses in comparative perspective. Zurich, Switzerland: Schulthess.
Bernhard, F., & O’Driscoll, M. P. (2011). Psychological Ownership in Small Family-Owned Businesses: Leadership Style and Nonfamily-Employees’ Work Attitudes and Behaviors. Group & Organization Management, 36(3), 345-384. https://doi.org/10.1177/1059601111402684
Berrone, P., Cruz, C., & Gomez-Mejia, L. R. (2012). Socioemotional wealth in family firms: Theoretical dimensions, assessment approaches, and agenda for future research. Family Business Review, 25(3), 258-279. https://doi.org/10.1177/0894486511435355
Bika, Z., Rosa, P., & Karakas, F. (2019). Multilayered socialization processes in transgenerational family firms. Family Business Review, 32(3), 233-258. https://doi.org/10.1177/0894486519827435
Blanco-Mazagatos, V., de Quevedo-Puente, E., & Delgado-García, J. B. (2016). How agency conflict between family managers and family owners affects performance in wholly family-owned firms: A generational perspective. Journal of Family Business Strategy, 7(3), 167-177. https://doi.org/10.1016/j.jfbs.2016.07.003
Chrisman, J. J., Chua, J. H., & Sharma, P. (2005). Trends and directions in the development of a strategic management theory of the family firm. Entrepreneurship Theory and Practice, 29(5), 555-575. https://doi.org/10.1111/j.1540-6520.2005.00098.x
Chua, J. H., Chrisman, J. J., & Sharma, P. (1999). Defining the family business by behavior. Entrepreneurship: Theory and Practice, 23(4), 19-39. https://doi.org/10.1177/104225879902300402
Chua, J. H., Chrisman, J. J., Steier, L. P., & Rau, S. B. (2012). Sources of heterogeneity in family firms: An introduction. Entrepreneurship Theory and Practice, 36(6), 1103-1113. https://doi.org/10.1111/j.1540-6520.2012.00540.x
Csikszentmihalyi, M., & Halton, E. (1981). The meaning of things: Domestic symbols and the self. Cambridge, UK: Cambridge University Press.
De Massis, A., Chua, J. H., & Chrisman, J. J. (2008). Factors preventing intra‐family succession. Family Business Review, 21(2), 183-199. https://doi.org/10.1111/j.1741-6248.2008.00118.x
De Massis, A., & Kotlar, J. (2014). The case study method in family business research: Guidelines for qualitative scholarship. Journal of Family Business Strategy, 5(1), 15-29. https://doi.org/10.1016/j.jfbs.2014.01.007
De Massis, A., Sharma, P., Chua, J. H., & Chrisman, J. J. (2012). Family business studies: An annotated bibliography. Cheltenham, UK: Edward Elgar Publishing Limited.
Distelberg, B., & Sorenson, R. L. (2009). Updating systems concepts in family businesses: A focus on values, resource flows, and adaptability. Family Business Review, 22(1), 65-81. https://doi.org/10.1177/0894486508329115
Eddleston, K. A., & Morgan, R. M. (2014). Trust, commitment and relationships in family business: Challenging conventional wisdom. Journal of Family Business Strategy, 5(3), 213-216. https://doi.org/10.1016/j.jfbs.2014.08.003
Eisenhardt, K. M., & Graebner, M. E. (2007). Theory building from cases: Opportunities and challenges. Academy of Management Journal, 50(1), 25-32. https://doi.org/10.5465/amj.2007.24160888
Elsbach, K. D., & Kramer, R. M. (2003). Assessing creativity in Hollywood pitch meetings: Evidence for a dual-process model of creativity judgments. Academy of Management Journal, 46(3), 283-301. https://doi.org/10.5465/30040623
Erez, M., & Earley, P. (1993). Culture, self-identity and work. New York, USA: Oxford University Press.
Flick, U. (2018). An introduction to qualitative research (5th ed.). London, UK: Sage Publications.
Gehman, J., Trevino, L. K., & Garud, R. (2013). Values work: A process study of the emergence and performance of organizational values practices. Academy of Management Journal, 56(1), 84-112. https://doi.org/10.5465/amj.2010.0628
Gómez-Mejía, L. R., Haynes, K. T., Núñez-Nickel, M., Jacobson, K. J. L., & Moyano-Fuentes, J. (2007). Socioemotional wealth and business risks in family-controlled firms: Evidence from Spanish olive oil mills. Administrative Science Quarterly, 52(1), 106-137. https://doi.org/10.2189/asqu.52.1.106
Guest, G., Bunce, A., & Johnson, L. (2006). How many interviews are enough? An experiment with data saturation and variability. Field Methods, 18(1), 59-82. https://doi.org/10.1177/1525822X05279903
Hammond, N. L., Pearson, A. W., & Holt, D. T. (2016). The quagmire of legacy in family firms: Definition and implications of family and family firm legacy orientations. Entrepreneurship Theory and Practice, 40(6), 1209-1231. https://doi.org/10.1111/etap.12241
Hanson, S. K., Hessel, H. M., & Danes, S. M. (2019). Relational processes in family entrepreneurial culture and resilience across generations. Journal of Family Business Strategy, 10(3). https://doi.org/10.1016/j.jfbs.2018.11.001
Henssen, B. (2012). “Mine’or’ours”? Perspectives on psychological ownership in family firms. (University of Jyväskylä). Retrieved from http://hdl.handle.net/1942/21888
Hofstede, G. (1994). The business of international business is culture. International Business Review, 3(1), 1-14. https://doi.org/10.1016/0969-5931(94)90011-6
Hofstede, G. (2001). Culture’s consequences: International differences in work-related values. California, USA: Sage Publications.
Hofstede Insights Network. (2019). Compare countries. Retrieved from https://www.hofstede-insights.com/product/compare-countries/
Koiranen, M. (2002). Over 100 Years of Age But Still Entrepreneurially Active in Business: Exploring the Values and Family Characteristics of Old Finnish Family Firms. Family Business Review, 15(3), 175-187. https://doi.org/10.1111/j.1741-6248.2002.00175.x
Kotlar, J., & De Massis, A. (2013). Goal setting in family firms: Goal diversity, social interactions, and collective commitment to family–centered goals. Entrepreneurship Theory and Practice, 37(6), 1263-1288. https://doi.org/10.1111/etap.12065
Lee, T. W., Mitchell, T. R., & Sablynski, C. J. (1999). Qualitative research in organizational and vocational psychology, 1979–1999. Journal of Vocational Behavior, 55(2), 161-187. https://doi.org/10.1006/jvbe.1999.1707
Lee, K., Makri, M., & Scandura, T. (2019). The effect of psychological ownership on corporate entrepreneurship: Comparisons between family and nonfamily top management team members. Family Business Review, 32(1), 10-30. https://doi.org/10.1177/0894486518785847
Liu, F., Chow, I. H.-S., Zhang, J.-C., & Huang, M. (2019). Organizational innovation climate and individual innovative behavior: exploring the moderating effects of psychological ownership and psychological empowerment. Review of Managerial Science, 13(4), 771-789. https://doi.org/10.1007/s11846-017-0263-y
Lumpkin, G. T., Brigham, K. H., & Moss, T. W. (2010). Long-term orientation: Implications for the entrepreneurial orientation and performance of family businesses. Entrepreneurship and Regional Development, 22(3-4), 241-264. https://doi.org/10.1080/08985621003726218
Neubaum, D. O. (2018). Family business research: Roads travelled and the search for unworn paths. Family Business Review, 31(3), 259-270. https://doi.org/10.1177/0894486518792948
Rau, S. B., Werner, A., & Schell, S. (2019). Psychological ownership as a driving factor of innovation in older family firms. Journal of Family Business Strategy, 10(4), 100246. https://doi.org/10.1016/j.jfbs.2018.03.001
Savolainen, S., & Kansikas, J. (2013). Non-family employees in small family business succession: The case of psychological ownership. World Review of Entrepreneurship, Management and Sustainable Development, 9(1), 64-81. https://doi.org/10.1504/WREMSD.2013.050936
Schepker, D. J., Kim, Y., Patel, P. C., Thatcher, S. M., & Campion, M. C. (2017). CEO succession, strategic change, and post-succession performance: A meta-analysis. The Leadership Quarterly, 28(6), 701-720. https://doi.org/10.1016/j.leaqua.2017.03.001
Sharma, P., & Irving, P. G. (2005). Four bases of family business successor commitment: Antecedents and consequences. Entrepreneurship Theory and Practice, 29(1), 13-33. https://doi.org/10.1111/j.1540-6520.2005.00067.x
Sieger, P., Bernhard, F., & Frey, U. (2011). Affective commitment and job satisfaction among non-family employees: Investigating the roles of justice perceptions and psychological ownership. Journal of Family Business Strategy, 2(2), 78-89. https://doi.org/10.1016/j.jfbs.2011.03.003
Siggelkow, N. (2007). Persuasion with case studies. Academy of Management Journal, 50(1), 20-24. https://doi.org/10.5465/amj.2007.24160882
Strike, V. M., & Rerup, C. (2016). Mediated sensemaking. Academy of Management Journal, 59(3), 880-905. https://doi.org/10.5465/amj.2012.0665
Tàpies, J., & Moya, M. (2012). Values and longevity in family business: evidence from a cross‐cultural analysis. Journal of Family Business Management, 2(2), 130-146. https://doi.org/10.1108/20436231211261871
Van Dyne, L., & Pierce, J. L. (2004). Psychological ownership and feelings of possession: Three field studies predicting employee attitudes and organizational citizenship behavior. Journal of Organizational Behavior, 25(4), 439-459. https://doi.org/10.1002/job.249
Van Wyk, R., & Adonisi, M. (2012). Antecedents of corporate entrepreneurship. South African Journal of Business Management, 43(3), 65-78. https://doi.org/10.4102/sajbm.v43i3.475
Ward, J. L. (1988). The special role of strategic planning for family businesses. Family Business Review, 1(2), 105-117. https://doi.org/10.1111/j.1741-6248.1988.00105.x
Ward, J. L. (2006). El éxito en los negocios de familia. Bogotá, Colombia: Editorial Norma.
Wood, R., & Bandura, A. (1989). Social cognitive theory of organizational management. Academy of Management Review, 14(3), 361-384. https://doi.org/10.2307/258173
Yin, R. K. (2017). Case stud y research: Design and methods (6th ed.). California, USA: Sage Publications.
Zellweger, T. M., & Dehlen, T. (2012). Value is in the eye of the owner: Affect infusion and socioemotional wealth among family firm owners. Family Business Review, 25(3), 280-297. https://doi.org/10.1177/0894486511416648
Zhu, H., Chen, C. C., Li, X., & Zhou, Y. (2013). From personal relationship to psychological ownership: The importance of manager–owner relationship closeness in family businesses. Management and Organization Review, 9(2), 295-318. https://doi.org/10.1111/more.12001
Zhu, H., Zhang, P., Han, X., & Huang, T. (2018). Family involvement in management in private businesses and the effect on professional managers’ psychological ownership. Nankai Business Review International, 9(2), 225-243. https://doi.org/10.1108/NBRI-08-2017-0043