Research Article

구조조정에 관한 가족기업의 변화하는 전략적 성향: Mixed-gamble 접근법

이경재¹ · 이선기²

¹ 가천대학교, ² 서울신학대학교

발행: 2022년 1월 · 26권 2호 · pp. 127-152

본문 보기

초록

이 연구는 기업 재무 상황에 따라서 구조조정의 성향이 변하는 가족기업을 실증적으로 분석한다. 우선, 연구 결과는 보편적인 인식대로 가족기업이 비가족기업에 비해 일반적으로 기업 구조조정에 있어서 소극적이라는 점을 밝힌다. 하지만 이 연구는 기업이 경영난에 직면했을 경우 가족기업이 오히려 비가족기업보다 구조조정에 있어서 더 적극적임을 보여준다. 즉, 이 연구는 가족기업이 소위 ‘Socioemotional wealth’ (SEW) 라는 비재무적 가치를 보존하기 위해 구조조정에 언제나 회의적이라기 보단 장기적 SEW 이득을 위해 단기적 SEW 손실이 필요할 경우에는 오히려 비가족기업보다 더 적극적으로 구조조정 활동을 한다는 점을 보여준다. 구조조정이 SEW를 훼손하기 보단 오히려 SEW를 강화하는 상황을 구체적으로 규명함으로써, 이 연구는 구조조정에 있어서 가족기업의 전략적 의사결정의 복잡한 경향을 밝힌다.

키워드: Family firmsStrategic decision-makingCorporate restructuringSocioemotional wealthMixed-gamble approachCorporate turnaround

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