On the Emotional Value of Owning a Firm
Department
Management and 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 Title
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
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