Long-term orientation of firms

Abstract

This chapter is about long-term orientation of firms. First, I discuss key terms related to longterm orientation and describe my understanding of the concept (Section 3.1). Next, I describe the various dimensions of long-term orientation (Section 3.2). Then, I introduce the central explanations for long-term orientation and discuss whether and under which conditions family firms should be more long-term oriented than non-family firms (Section 3.3). Building upon this discussion, Section 3.4 presents the specific research questions that will be analyzed in the following chapters.