Dr. Zhenyu Wu, Asper School of Business at the University of Manitoba, will present “Socioemotional Wealth and Family Firm Risk-Taking: The Case of Loan Applications”.
Start Date : Feb 07, 2013 at 16:00 PM
End Date : Feb 07, 2013
at 18:00 PM
Location : Edwards School of Business Room ESB 189
Event Description
The M.Sc. in Finance and the Centre for Strategic Financial Management are pleased to sponsor presentations on Family Entrepreneurship:
Thursday February 7th, 2013 at 4pm in ESB 189
Dr. Zhenyu Wu, Asper School of Business at the University of Manitoba, will present “Socioemotional Wealth and Family Firm Risk-Taking: The Case of Loan Applications”.
Abstract
Adding to the theory of family enterprises through the lens of socioemotional wealth, this study helps us understand family firm behavior and decision making in loan applications. Based on two samples of firms from the Survey of Small Business Finances, the findings indicate that preservation of socioemotional wealth leads family firms to be less willing to apply (for loans) for fear of being rejected. In addition, family ownership positively moderates the relationships between unwillingness to apply for fear of being rejected and the age of the firm, as well as that with the age of the incumbent under certain circumstances, as hypothesized. Our results also have implications for the heterogeneity of family firms.
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