Customization of the behaviour on psychological ownership: A study of managers in family businesses

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Proceedings of the 29th International Business Information Management Association Conference - Education Excellence and Innovation Management through Vision 2020: From Regional Development Sustainability to Global Economic Growth, Page: 227-233

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Kuruppuge, Ravindra Hewa; Gregar, Aleš
International Business Information Management Association, IBIMA
Business, Management and Accounting; Decision Sciences; Family business; Manager; Ownership right; Psychological ownership theory; Sri Lanka
conference paper description
Ownership is a key decisive feature in the behaviour of family members who are involved in a family business. Accordingly, this study focuses on understanding the behaviour of family business managers who have a kinship to owners, without having legal ownership rights to the business. To determine manager behaviour, their objectives regarding both family and business were considered through the theoretical lenses of psychological ownership. Based on purposive sampling technique, twenty managers from twelve diverse family businesses were selected as respondents for interviews. In the data analysis, three main behavioural themes emerged 'business objectives focused', 'family objectives focused' and 'self-identity'. Results of the analysis indicated that managers from family without having legal ownership rights are exhibiting extra-role stewardship and task performance behaviours, which are important to the short term performance of the business. Further, to fulfil family and business requirements, managers have shown the behaviour of 'benevolent leader' coordinating business, family and other stakeholders. Self-identity as a co-worker of the business employees and recognition as a legal owner are identified as claims of managers from owning family without having ownership rights to the business.