Socioemotional wealth and family firm performance: A stakeholder approach
Journal of Managerial Issues
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This paper investigates the relationship between the importance of socioemotional wealth (SEW) objectives and performance in family firms. SEW is considered in this study as a multidimensional construct consisting of family prominence, family continuity, and family enrichment. Considering the outcomes of pursuing the SEW goals for various stakeholders in family firms, three hypotheses are developed and tested on a sample of family firms in Poland, using structural equation modelling procedures. The results suggest that the salience of goals related to family prominence and continuity are positively related to performance, while family enrichment objectives may result in performance losses.
Debicki, B. J.,
Randolph, R. V.,
Socioemotional wealth and family firm performance: A stakeholder approach.
Journal of Managerial Issues, 29(1),