Abstract

A recent stream of research has started investigating the impact of socioemotional aspects of organizational ownership on the monetary value attached to a firm by its owners. In these attempts, several researchers have chosen the setting of family firms, since these firms have long be said to strive for non-financial next to financial goals (e.g., Chrisman, Chua & Litz 2004; Astrachan & Jaskiewicz 2008, Gomez-Mejia, Haynes, Nunez-Nickel, Jacobson & Moyano-Fuentes 2007).

However, whereas most above studies discuss aspects of socioemotional wealth with positive valence, family firm owners also experience negative aspects related to organizational ownership, such as relationship conflicts. Relationship conflicts exist when there are interpersonal incompatibilities among group members which typically include annoyance and tension among group members (Jehn 1995), reducing productivity and satisfaction (Gladstein 1984; Wall & Nolan 1986), a particularly relevant socioemotional cost in the context of family firm ownership (Zellweger & Astrachan, 2008).

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