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Why and when do family firms invest less in talent management? The suppressor effect of risk aversion
Basco, Rodrigo Bassetti, Thomas Dal Maso, Lorenzo Lattanzi, Nicola
Basco, Rodrigo
Bassetti, Thomas
Dal Maso, Lorenzo
Lattanzi, Nicola
Date
2021-09-25
Advisor
Type
Article
Peer-Reviewed
Published version
Peer-Reviewed
Published version
Degree
Files
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s10997-021-09599-1.pdf
Adobe PDF, 895.74 KB
Description
Abstract
This article explores the complex relationship between family firms and talent management practices. We use an international sample of medium-sized manufacturing firms to show that the relationship between family-owned firms and investment in talent management practices is mediated by the firm's level of risk aversion, which is, in turn, moderated by industry competition. Risk-averse family-owned firms tend to invest less in talent management practices when industry competition is weak. In contrast, when competition increases, family-owned firms tend to invest in talent as much as non-family-owned firms do.