Chief Executive Officers' entrepreneurial risk-taking behaviour and non-financial performance of family-owned businesses in Nairobi, Kenya

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dc.contributor.authorKosgey, S. J.
dc.date.accessioned2024-09-17T13:31:15Z
dc.date.available2024-09-17T13:31:15Z
dc.date.issued2024
dc.descriptionFull - text thesis
dc.description.abstractFamily-owned businesses contribute to as much as 70-90% to the economies around the world through innovation, job creation, among other important ways. The management of family-owned businesses therefore ought to be given important consideration as this determines their success, and consequently, their contribution to the GDP. One important factor of success of family-owned businesses is the CEOs entrepreneurial risk-taking behaviour, which has been associated with both the financial and non-financial performance of family-owned businesses. The study sought to examine the influence of family and non-family CEOs entrepreneurial risk-taking behaviour on the non-financial performance of family-owned businesses in Nairobi, Kenya. The specific objectives were to compare how the characteristics of family and non-family CEOs influence entrepreneurial risk-taking behaviour, how risk-taking behaviour affects non-financial performance and to determine the moderating effect of business decision making on the relationship between entrepreneurial risk-taking behaviour and non-financial performance of family-owned business enterprises in Nairobi Kenya. This study, anchored on Upper Echelons theory and Agency Theory, applied descriptive cross sectional research design and sourced primary data among 100 CEOs of family-owned enterprises in Nairobi County. Descriptive and inferential statistics analysed the data. Results showed that there was an inverse and not statistically significant effect of age and education qualifications on the non-financial performance of family-owned businesses. Further, there was a positive and not statistically significant effect of CEO tenure on the non-financial performance of family-owned businesses. Business decision making had a positive and statistically significant moderating effect on the relationship between entrepreneurial risk-taking behaviour and non-financial performance of family-owned enterprises in Nairobi County. This study concludes that risk-taking behaviour should be encouraged within family firms as it yields positive performance outcomes, irrespective of the kinship of the CEO. It can be concluded that there is need for adoption, formulation and incorporation of structural frameworks for risk evaluation, innovation and channelling of energy into most viable options that would enhance long-term sustainability. It is recommended that family businesses should not have a bias when hiring a CEO. CEOs (whether family or not) should not shy away from engaging in risk-taking to enhance business performance. Key words: CEO Characteristics, CEO Entrepreneurial Risk-Taking Behaviour, Business Decision Making, Non-Financial Performance, Family-Owned Businesses, Family and Non-Family CEO.
dc.identifier.citationKosgey, S. J. (2024). Chief Executive Officers’ entrepreneurial risk-taking behaviour and non-financial performance of family-owned businesses in Nairobi, Kenya [Strathmore University]. http://hdl.handle.net/11071/15537
dc.identifier.urihttp://hdl.handle.net/11071/15537
dc.language.isoen
dc.publisherStrathmore University
dc.titleChief Executive Officers' entrepreneurial risk-taking behaviour and non-financial performance of family-owned businesses in Nairobi, Kenya
dc.typeThesis
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