From “FIBER” to “FIRE”: construct validation and refinement of the socioemotional wealth scale in family firms

The socio-emotional wealth perspective is a framework widely used to examine managerial decisions, particularly within the field of family business. We evaluate, refine, and validate the FIBER 27-item scale developed by Berrone et al. (2012) as a psychometric instrument to measure the socioemotional wealth construct (SEW), defined as affective endowment embedded by family owners in their business. The findings suggest that SEW is a superordinate multidimensional construct that captures socioemotional utilities in family firms and their impact on financial performance.