Resumen de Three essays on strategic decision making and CEO behavior in family firms

Ionela Neacsu

• This thesis analyzes how strategic decision-making and CEO behavior differ between family and non-family firms. Several aspects of this broad research question have been addressed in three chapters, as follows. The first chapter integrates the behavioral agency and family business literature to analyze the role of dominant family owners in constraining the CEO´s risk taking response to equity-based pay. The second chapter re-visits the issue of temporal orientation and investigates whether family firms are indeed longer-term oriented than non-family firms. Finally, the third chapter analyzes the role of dominant family owners in aligning family firms´ innovation objectives with the economic objectives of their CEOs