Title

On the Emotional Value of Owning a Firm

Department

Management & Entrepreneurship

Document Type

Article

Publication Date

12-2008

Abstract

This article examines how owners of firms subjectively value their ownership stake in monetary terms. We utilize endowment and possession attachment literature to investigate how emotional benefits and costs related to organizational ownership affect emotional value. We define emotional value as that part of willingness to accept unexplained by the financial value of the ownership stake and the private financial benefits of control accruing to the owner. Our research provides new insight into firm owners’ psychology and value considerations where an owner values nonfinancial aspects of the ownership stake.

Journal

Family Business Review

Journal ISSN

0894-4865

Volume

21

Issue

4

First Page

347

Last Page

363

Digital Object Identifier (DOI)

10.1111/j.1741-6248.2008.00129.x