Research seminar: Franz Kellermanns on ‘ Family Control and Family Firm Valuation by Family CEOs’

Professor Franz W. Kellermanns from the University of North Carolina will visit Erasmus University Rotterdam to present his research: ‘Family Control and Family Firm Valuation by Family CEOs’. In this research seminar Professor Kellermanns will talk about his findings in family firms and the impact on control and firm valuation.


Family firms are thought to pursue nonfinancial goals that provide socio-emotional wealth, but socio-emotional wealth is feasible only with family control of the firm. Using prospect theory, we hypothesize that socio-emotional wealth increases with the extent of current control, duration of control, and intentions for transgenerational control, thus adding to the price at which owners would be willing to sell their firms to nonfamily buyers. Findings from two countries show that current control has no impact, and duration of control has a mixed impact. However, intention for transgenerational control has a consistently positive impact on the perceived acceptable selling price. New develops in the socio-emotional wealth literature will also be discussed.


Franz W. Kellermanns is the Addison H. & Gertrude C. Reese Endowed Chair in International Business and Professor of Management in the Belk College of Business. He holds a joint appointment with the INTES Centre at the WHU–Otto Beisheim School of Management (Germany). He received his Ph.D. from the University of Connecticut. His research interests include international business, strategy process and entrepreneurship with a focus on family business research. He is an editor of Entrepreneurship Theory and Practice and former associate editor of Family Business Review. He has published in journals such as Organization Science, Journal of Management, Journal of Management Studies, Journal of Organizational Behaviour, Journal of Business Venturing, Entrepreneurship Theory and Practice, Family Business Review, and Academy of Management Learning and Education. He serves on the editorial boards of Journal of Business Venturing, Journal of Management, Journal of Management Studies, Family Business Review, Journal of Family Business Strategy and Strategic Entrepreneurship Journal. He is a co-editor of the recent books “Handbook of Strategy Process Research” and "Innovating Strategy Process."

The research seminar will take place on December 16th at 10:00am on the Woudestein Campus of Erasmus University Rotteram, in room T08-67. Click here for more information.