Application of metric conjoint analysis in family business research.pdf.pdf

Journal of Family Business Strategy 5 (2014) 72–84

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Journal of Family Business Strategy

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Application of metric conjoint analysis in family business research
1

David N. Hanisch , Sabine B. Rau *

WHU Otto Beisheim School of Management, Burgplatz 2, 56179 Vallendar, Germany

A R T I C L E I N F O A B S T R A C T

Keywords: Strategic decisions are important because they influence the strategic direction, competitive positioning


Metric conjoint analysis and performance of firms. However, these decisions are difficult to research, especially in family firms, as
Experimental research

their top managers are even less ing than those of their non-family counterparts. With the
Management research

metric conjoint analysis method, researchers are able to analyze management decisions at the time
Boundary research

when they are made. This method is based on an experimental technique in which the manager has to
Management consulting

make a series of judgments based on a number of decision scenarios containing a set of decision
Family business

attributes. Based on the experiment, the underlying structure of the manager’s decision-making process

can be investigated. This article conducts a literature review of management studies using metric

conjoint analysis, presents an exemplary study in the family business field and suggests potential future

applications for this method in family business research.

ß 2014 Elsevier Ltd. All rights reserved.

One of the most central research areas in management and affected by retrospective bias from misinterpreting what was

family business research is the assessment of firm performance responsible for an event or action (Golden, 1992). Biases and errors

(., Davies, Chun, & Kamins, 2010; Surroca, Tribo´ , & Waddock, associated with self-reporting might occur (Podsakoff & Organ,