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Publisher Description

A long-term orientation (LTO) is often associated with family firms, but the LTO construct is underdeveloped. This paper sets forth a framework for studying LTO in family firms including developing three dimensions--futurity, continuity, and perseverance. It identifies LTO as a higher-order heuristic that, in matters of intertemporal choice, provides a dominant logic for decisions and actions. Intertemporal choice refers to decisions with payoffs or outcomes that play out over time. Three mechanisms affecting intertemporal choices are identified--representation, self-control, and anticipation. LTO and intertemporal choice are further examined and discussed in the context of family firms. **********

GENRE
Business & Personal Finance
RELEASED
2011
November 1
LANGUAGE
EN
English
LENGTH
46
Pages
PUBLISHER
Baylor University
SELLER
The Gale Group, Inc., a Delaware corporation and an affiliate of Cengage Learning, Inc.
SIZE
304.4
KB

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