NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

How do CEOs see their Role? Management Philosophy and Styles in Family and Non-Family Firms

William Mullins, Antoinette Schoar

NBER Working Paper No. 19395
Issued in September 2013
NBER Program(s):   CF   LS   PR

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.

You may purchase this paper on-line in .pdf format from SSRN.com ($5) for electronic delivery.

Information about Free Papers

You should expect a free download if you are a subscriber, a corporate associate of the NBER, a journalist, an employee of the U.S. federal government with a ".GOV" domain name, or a resident of nearly any developing country or transition economy.

If you usually get free papers at work/university but do not at home, you can either connect to your work VPN or proxy (if any) or elect to have a link to the paper emailed to your work email address below. The email address must be connected to a subscribing college, university, or other subscribing institution. Gmail and other free email addresses will not have access.

E-mail:

Machine-readable bibliographic record - MARC, RIS, BibTeX

Document Object Identifier (DOI): 10.3386/w19395

Users who downloaded this paper also downloaded these:
Hai, Krueger, and Postlewaite w19386 On the Welfare Cost of Consumption Fluctuations in the Presence of Memorable Goods
Bartel, Cardiff-Hicks, and Shaw w19412 Compensation Matters: Incentives for Multitasking in a Law Firm
Pan, Wang, and Weisbach w19330 CEO Investment Cycles
Gordon w19390 The Phillips Curve is Alive and Well: Inflation and the NAIRU During the Slow Recovery
Borjas and Doran w19445 Prizes and Productivity: How Winning the Fields Medal Affects Scientific Output
 
Publications
Activities
Meetings
NBER Videos
Data
People
About

Support
National Bureau of Economic Research, 1050 Massachusetts Ave., Cambridge, MA 02138; 617-868-3900; email: info@nber.org

Contact Us