Objectives: We examine decision factors of family firm owners for hiring a non-family Chief Financial Officer (CFO). We explore the perceptions of family firm owners towards external managers by analyzing how their family-specific and company-specific goals relate to the employment of a...

Risk-neutral individuals take more risky decisions when they have limited liability. Risk-neutral managers may not when acting as agents under contract and taking costly actions to acquire information before taking decisions. Limited liability makes it optimal to increase the reward for outcomes...

This article introduces a model of productive leadership structures. It is based on the idea that structures should stimulate dialectical processes which activate functional and simultaneously restrict dysfunctional behavioural tendencies of the management team. The structural dialectics are...