An Attention-Based View of Family Firm Adaptation to Discontinuous Technological Change: Exploring the Role of Family CEOs' Noneconomic Goals

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Why is it important?

First, we show that non-financial goals affect decisision-making in family firms. We further theorize that this effect can be explained by building on the attention-based view of Ocasio (1997). As such, one important contribution of this article is the extension of Ocasio's model by the element "goals". Second, we show that "non-financial goals" might not be lumped together but that researchers really need to differentiate between different non-financial goals. Depending on what the non-financial goals actually are, the behavior of the family firm differs.