The role of non-economic goals in facilitating financial performance in family and non-family firms: a moderated mediation model

摘要

The relevance of non-economic goals has long been recognised as significant in understanding the idiosyncratic behaviours and strategies of family firms. However, non-economic goals are not unique to family firms and are becoming an increasingly common part of the strategic landscape of organisations. We develop arguments, nested in behavioural and emotional agency, that suggest that non-economic goal salience may play a facilitating role in the relationship between the importance of economic goals and financial performance and that the presence of shared family ties among the ownership of firms moderates this mediated relationship. Our findings contribute to the current understanding of non-economic goals in terms of their impact on the financial performance of organisations as well as provide initial arguments for clarifying the presence of such goals as commonly associated with family firms but not uniquely derived within them.