This study investigates why and how family firms go public via initial public offering (IPO) and explores how family firms' distinctive traits contribute to specific IPO behavior. The results show that family firms face IPO following three paths-shine, continue, and challenge. Family IPO firms emphasize control, identification, and succession (shine); focus on family social capital, responsibility toward stakeholders, and family business identity (continue); and highlight control, identification, new leaders' self-affirmation, and generational transfers (challenge). We uncover the complexities of emotional endowment-a reference point for making IPO decisions and a resource or constraint to engage in the IPO process.

(2024). Why and How Do Family Firms Go Public? A Socioemotional Wealth Perspective of IPO [journal article - articolo]. In FAMILY BUSINESS REVIEW. Retrieved from https://hdl.handle.net/10446/287629

Why and How Do Family Firms Go Public? A Socioemotional Wealth Perspective of IPO

Campopiano, Giovanna;
2024-01-01

Abstract

This study investigates why and how family firms go public via initial public offering (IPO) and explores how family firms' distinctive traits contribute to specific IPO behavior. The results show that family firms face IPO following three paths-shine, continue, and challenge. Family IPO firms emphasize control, identification, and succession (shine); focus on family social capital, responsibility toward stakeholders, and family business identity (continue); and highlight control, identification, new leaders' self-affirmation, and generational transfers (challenge). We uncover the complexities of emotional endowment-a reference point for making IPO decisions and a resource or constraint to engage in the IPO process.
articolo
2024
Carbone, Emmadonata; Campopiano, Giovanna; Cirillo, Alessandro; Mussolino, Donata
(2024). Why and How Do Family Firms Go Public? A Socioemotional Wealth Perspective of IPO [journal article - articolo]. In FAMILY BUSINESS REVIEW. Retrieved from https://hdl.handle.net/10446/287629
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Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/10446/287629
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