It's a family affair: How social identification influences family CEO compensation
Research Question/Issue This study analyzes the heterogeneity of CEO compensation in family firms. Specifically, we investigate the relationship between a family CEO's social identification with the family firm and the level of her or his compensation. Research Findings/Insights Using a sample...
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| Veröffentlicht in: | Corporate governance : an international review 2021-09, Vol.29 (5), p.461-478 |
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| container_issue | 5 |
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| container_title | Corporate governance : an international review |
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| creator | Mueller, Elisabeth F Flickinger, Miriam |
| description | Research Question/Issue
This study analyzes the heterogeneity of CEO compensation in family firms. Specifically, we investigate the relationship between a family CEO's social identification with the family firm and the level of her or his compensation.
Research Findings/Insights
Using a sample of S&P 500 family firms between 2006 and 2014, we find that levels of social identification among family CEOs explain the heterogeneous patterns of CEO compensation among family firms. Our results show that the level of social identification varies among family CEOs.
Theoretical/Academic Implications
Our findings indicate that differences in social identification among individual family executives are an important factor in CEO compensation in family firms. This factor has been overlooked in the literature, which has instead focused on the explanatory power of faultlines between family versus non‐family firms or family versus non‐family executives in family firms.
Practitioner/Policy Implications
Practitioners may value our finding that socio‐psychological dynamics influence strategic decision‐making in family firms, such as setting the compensation of the family CEO. In particular, practitioners should be aware of each family CEO's level of identification and should not assume that all family members equally socially identify with the family firm. |
| doi_str_mv | 10.1111/corg.12375 |
| format | Article |
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This study analyzes the heterogeneity of CEO compensation in family firms. Specifically, we investigate the relationship between a family CEO's social identification with the family firm and the level of her or his compensation.
Research Findings/Insights
Using a sample of S&P 500 family firms between 2006 and 2014, we find that levels of social identification among family CEOs explain the heterogeneous patterns of CEO compensation among family firms. Our results show that the level of social identification varies among family CEOs.
Theoretical/Academic Implications
Our findings indicate that differences in social identification among individual family executives are an important factor in CEO compensation in family firms. This factor has been overlooked in the literature, which has instead focused on the explanatory power of faultlines between family versus non‐family firms or family versus non‐family executives in family firms.
Practitioner/Policy Implications
Practitioners may value our finding that socio‐psychological dynamics influence strategic decision‐making in family firms, such as setting the compensation of the family CEO. In particular, practitioners should be aware of each family CEO's level of identification and should not assume that all family members equally socially identify with the family firm.</description><identifier>ISSN: 1467-8683</identifier><identifier>ISSN: 0964-8410</identifier><identifier>EISSN: 1467-8683</identifier><identifier>DOI: 10.1111/corg.12375</identifier><language>eng</language><publisher>Hoboken, NJ: Wiley</publisher><subject>Business ; Business & Economics ; Business, Finance ; CEO compensation ; Chief executives ; Companies ; Compensation ; corporate governance ; family CEO ; family firms ; Family owned businesses ; Identification ; Management ; Relatives ; Social identification ; Social Sciences</subject><ispartof>Corporate governance : an international review, 2021-09, Vol.29 (5), p.461-478</ispartof><rights>2021 The Authors. Corporate Governance: An International Review published by John Wiley & Sons Ltd.</rights><rights>2021. This article is published under http://creativecommons.org/licenses/by-nc-nd/4.0/ (the “License”). Notwithstanding the ProQuest Terms and Conditions, you may use this content in accordance with the terms of the License.</rights><lds50>peer_reviewed</lds50><oa>free_for_read</oa><woscitedreferencessubscribed>true</woscitedreferencessubscribed><woscitedreferencescount>6</woscitedreferencescount><woscitedreferencesoriginalsourcerecordid>wos000647019900001</woscitedreferencesoriginalsourcerecordid><citedby>FETCH-LOGICAL-c3595-57950279583033c89d36a409c6ce2342f131bcbb4e66e946cf40a28c59316f9a3</citedby><cites>FETCH-LOGICAL-c3595-57950279583033c89d36a409c6ce2342f131bcbb4e66e946cf40a28c59316f9a3</cites><orcidid>0000-0002-1509-9088 ; 0000-0002-9488-6935</orcidid></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://onlinelibrary.wiley.com/doi/pdf/10.1111%2Fcorg.12375$$EPDF$$P50$$Gwiley$$Hfree_for_read</linktopdf><linktohtml>$$Uhttps://onlinelibrary.wiley.com/doi/full/10.1111%2Fcorg.12375$$EHTML$$P50$$Gwiley$$Hfree_for_read</linktohtml><link.rule.ids>315,782,786,1419,27931,27932,39264,45581,45582</link.rule.ids></links><search><creatorcontrib>Mueller, Elisabeth F</creatorcontrib><creatorcontrib>Flickinger, Miriam</creatorcontrib><title>It's a family affair: How social identification influences family CEO compensation</title><title>Corporate governance : an international review</title><addtitle>CORP GOV-OXFORD</addtitle><description>Research Question/Issue
This study analyzes the heterogeneity of CEO compensation in family firms. Specifically, we investigate the relationship between a family CEO's social identification with the family firm and the level of her or his compensation.
Research Findings/Insights
Using a sample of S&P 500 family firms between 2006 and 2014, we find that levels of social identification among family CEOs explain the heterogeneous patterns of CEO compensation among family firms. Our results show that the level of social identification varies among family CEOs.
Theoretical/Academic Implications
Our findings indicate that differences in social identification among individual family executives are an important factor in CEO compensation in family firms. This factor has been overlooked in the literature, which has instead focused on the explanatory power of faultlines between family versus non‐family firms or family versus non‐family executives in family firms.
Practitioner/Policy Implications
Practitioners may value our finding that socio‐psychological dynamics influence strategic decision‐making in family firms, such as setting the compensation of the family CEO. In particular, practitioners should be aware of each family CEO's level of identification and should not assume that all family members equally socially identify with the family firm.</description><subject>Business</subject><subject>Business & Economics</subject><subject>Business, Finance</subject><subject>CEO compensation</subject><subject>Chief executives</subject><subject>Companies</subject><subject>Compensation</subject><subject>corporate governance</subject><subject>family CEO</subject><subject>family firms</subject><subject>Family owned businesses</subject><subject>Identification</subject><subject>Management</subject><subject>Relatives</subject><subject>Social identification</subject><subject>Social Sciences</subject><issn>1467-8683</issn><issn>0964-8410</issn><issn>1467-8683</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2021</creationdate><recordtype>article</recordtype><sourceid>24P</sourceid><sourceid>WIN</sourceid><sourceid>GIZIO</sourceid><recordid>eNqNkM9LwzAUx4soOKcX70LBg6B0Js2PNt6kzG0wGAw9hzRLJKNrZtIy9t-brpt4EnPIy-Hzfe_lE0W3EIxgOM_Sus8RTFFGzqIBxDRLcpqj81_vy-jK-zUAABLEBtFy1jz4WMRabEy1j4XWwriXeGp3sbfSiCo2K1U3RhspGmPr2NS6alUtlT9livEilnazVbU_INfRhRaVVzfHOow-3sbvxTSZLyaz4nWeSEQYSUjGCEjDlSOAkMzZClGBAZNUqhThVEMES1mWWFGqGKZSYyDSXBKGINVMoGF03_fdOvvVKt_wtW1dHUbylNDQHKaEBOqxp6Sz3jul-daZjXB7DgHvnPHOGT84C_BTD-9UabWXpvvoTyBIozgDkDHQ-Qt0_n-6MM3BTmHbuglReIyaSu3_WIkXi-XktNxdn1HS1sbzrvjGOp7mOcAYfQP_spey</recordid><startdate>202109</startdate><enddate>202109</enddate><creator>Mueller, Elisabeth F</creator><creator>Flickinger, Miriam</creator><general>Wiley</general><general>Blackwell Publishing Ltd</general><scope>OT2</scope><scope>24P</scope><scope>WIN</scope><scope>17B</scope><scope>BLEPL</scope><scope>DVR</scope><scope>EGQ</scope><scope>GIZIO</scope><scope>AAYXX</scope><scope>CITATION</scope><scope>8BJ</scope><scope>FQK</scope><scope>JBE</scope><orcidid>https://orcid.org/0000-0002-1509-9088</orcidid><orcidid>https://orcid.org/0000-0002-9488-6935</orcidid></search><sort><creationdate>202109</creationdate><title>It's a family affair: How social identification influences family CEO compensation</title><author>Mueller, Elisabeth F ; Flickinger, Miriam</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c3595-57950279583033c89d36a409c6ce2342f131bcbb4e66e946cf40a28c59316f9a3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2021</creationdate><topic>Business</topic><topic>Business & Economics</topic><topic>Business, Finance</topic><topic>CEO compensation</topic><topic>Chief executives</topic><topic>Companies</topic><topic>Compensation</topic><topic>corporate governance</topic><topic>family CEO</topic><topic>family firms</topic><topic>Family owned businesses</topic><topic>Identification</topic><topic>Management</topic><topic>Relatives</topic><topic>Social identification</topic><topic>Social Sciences</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Mueller, Elisabeth F</creatorcontrib><creatorcontrib>Flickinger, Miriam</creatorcontrib><collection>EconStor</collection><collection>Wiley Online Library (Open Access Collection)</collection><collection>Wiley Online Library (Open Access Collection)</collection><collection>Web of Knowledge</collection><collection>Web of Science Core Collection</collection><collection>Social Sciences Citation Index</collection><collection>Web of Science Primary (SCIE, SSCI & AHCI)</collection><collection>Web of Science - Social Sciences Citation Index – 2021</collection><collection>CrossRef</collection><collection>International Bibliography of the Social Sciences (IBSS)</collection><collection>International Bibliography of the Social Sciences</collection><collection>International Bibliography of the Social Sciences</collection><jtitle>Corporate governance : an international review</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Mueller, Elisabeth F</au><au>Flickinger, Miriam</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>It's a family affair: How social identification influences family CEO compensation</atitle><jtitle>Corporate governance : an international review</jtitle><stitle>CORP GOV-OXFORD</stitle><date>2021-09</date><risdate>2021</risdate><volume>29</volume><issue>5</issue><spage>461</spage><epage>478</epage><pages>461-478</pages><issn>1467-8683</issn><issn>0964-8410</issn><eissn>1467-8683</eissn><abstract>Research Question/Issue
This study analyzes the heterogeneity of CEO compensation in family firms. Specifically, we investigate the relationship between a family CEO's social identification with the family firm and the level of her or his compensation.
Research Findings/Insights
Using a sample of S&P 500 family firms between 2006 and 2014, we find that levels of social identification among family CEOs explain the heterogeneous patterns of CEO compensation among family firms. Our results show that the level of social identification varies among family CEOs.
Theoretical/Academic Implications
Our findings indicate that differences in social identification among individual family executives are an important factor in CEO compensation in family firms. This factor has been overlooked in the literature, which has instead focused on the explanatory power of faultlines between family versus non‐family firms or family versus non‐family executives in family firms.
Practitioner/Policy Implications
Practitioners may value our finding that socio‐psychological dynamics influence strategic decision‐making in family firms, such as setting the compensation of the family CEO. In particular, practitioners should be aware of each family CEO's level of identification and should not assume that all family members equally socially identify with the family firm.</abstract><cop>Hoboken, NJ</cop><pub>Wiley</pub><doi>10.1111/corg.12375</doi><tpages>18</tpages><orcidid>https://orcid.org/0000-0002-1509-9088</orcidid><orcidid>https://orcid.org/0000-0002-9488-6935</orcidid><oa>free_for_read</oa></addata></record> |
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| identifier | ISSN: 1467-8683 |
| ispartof | Corporate governance : an international review, 2021-09, Vol.29 (5), p.461-478 |
| issn | 1467-8683 0964-8410 1467-8683 |
| language | eng |
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| source | Business Source Complete; Access via Wiley Online Library; Web of Science - Social Sciences Citation Index – 2021<img src="https://exlibris-pub.s3.amazonaws.com/fromwos-v2.jpg" /> |
| subjects | Business Business & Economics Business, Finance CEO compensation Chief executives Companies Compensation corporate governance family CEO family firms Family owned businesses Identification Management Relatives Social identification Social Sciences |
| title | It's a family affair: How social identification influences family CEO compensation |
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