ABSTRACTS
Many studies studied the relationship between family firms and investment time horizons decisions from Socioemotional Wealth, Resource-Based View, and Agency theory perspectives. Several generation CEOs are in family firms which each generation has different horizon decisions. By analyzing two case studies in Indonesia, this study draws on an institutional logics perspective to comprehend the relationship between second-generation CEOs and their investment time horizons decisions in descendant-led family firms. This study Identifies how family firms decide firms' CSR strategy and second-generations' strategy development in CSR activities when the descendant-led family firms are influenced by their experience and lesson learned from the founders. This study also discusses the presence of outside board directors whether it can give moderating effect, which influences the relationship between descendant-led family firms (second-generation CEOs) and CSR strategy decisions. This study is carried out by investigating research questions using the interview method, which uses a qualitative research approach. This study chooses and interviews two manufacturing companies in Indonesia. The two companies are a coffee manufacture company and a bicycle manufacture company. This study finds that second-generation CEOs in Indonesian family firms embrace market and industrial logic on their investment time horizon decision. The research adds that the presence of a founder who lacks interest in CSR strategy reduces CSR concerns in the 2nd generation CEOs. This study also shows that the presence of an outside director has a moderating effect on the relationship between the descendant-led family firm and CSR strategy decisions and can mitigate the dilemma when 2nd generation CEO engages in CEO’s activities.
Keywords: Descendant-led Family Firm, CSR Strategy, Institutional Logics, Outside Board Director, Second-Generation CEO

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