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The weakness of strong ties : sampling bias, social ties, and nepotism in family business succession

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Liu, Chengwei, Eubanks, Dawn L. and Chater, Nick (2015) The weakness of strong ties : sampling bias, social ties, and nepotism in family business succession. The Leadership Quarterly, 26 (3). pp. 419-435. doi:10.1016/j.leaqua.2015.02.007 ISSN 1048-9843.

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Official URL: http://dx.doi.org/10.1016/j.leaqua.2015.02.007

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Abstract

Decision-making is a complex cognitive activity filled with bias. Leader decision-making is unique because it occurs in a social context. We examine how biases resulting from social network dynamics complicate leaders' decision-making. In particular, we focus on a specific case of leader cognition: nepotism in the succession decisions in the context of family businesses. Succession often leads to a decline in performance because leaders frequently choose family members as their successor, a form of nepotism. We show that even when a leader can overcome individual decision biases, a bias in sampling resulting from families' strong ties can still allow a leader to wrongly conclude that family members are better qualified than external candidates when the opposite is true. We demonstrate this phenomenon using simulation modeling and explore solutions to family business succession planning.

Item Type: Journal Article
Subjects: H Social Sciences > HD Industries. Land use. Labor
Divisions: Faculty of Social Sciences > Warwick Business School > Behavioural Science
Faculty of Social Sciences > Warwick Business School
Library of Congress Subject Headings (LCSH): Family-owned business enterprises -- Succession, Nepotism
Journal or Publication Title: The Leadership Quarterly
Publisher: Pergamon
ISSN: 1048-9843
Official Date: June 2015
Dates:
DateEvent
June 2015Published
3 April 2015Available
19 February 2015Accepted
Volume: 26
Number: 3
Number of Pages: 16
Page Range: pp. 419-435
DOI: 10.1016/j.leaqua.2015.02.007
Status: Peer Reviewed
Publication Status: Published
Access rights to Published version: Restricted or Subscription Access
Date of first compliant deposit: 1 March 2016
Date of first compliant Open Access: 3 October 2016

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