Abstract
Research on performance aspiration argues that firms use multiple reference points, historical and social aspirations, to compare their performance. Consequently, these performance aspirational points sometimes time to inconsistent feedback – negative correlation between performance relative to historical and social aspiration – pose challenges for the decision-makers. We argue that the inconsistent performance feedback will lead to dissimilar behavior for firms with overlapping ownership and management configuration. We examine the how moderating role of different bases of chief executive officers' (CEO) power in the relationship between inconsistent performance feedback and internationalization. We tested our hypothesis in the context of internationalization within Indian family firms from 2008-2015. We find that CEOs' structural, ownership and prestige power increases reluctance for internationalization due to inconsistency in performance feedback whereas CEO expert power based on international experience has a positive effect on family firm internationalization.
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