Socioemotional wealth and family firm performance: A meta-analytic integration

Jessenia Davila; Patricio Duran; Luis Gómez-Mejía; Maria J. Sanchez-Bueno

doi:10.1016/j.jfbs.2022.100536

Socioemotional wealth and family firm performance: A meta-analytic integration

Jessenia Davila, Patricio Duran, Luis Gómez-Mejía, Maria J. Sanchez-Bueno

Research output: Contribution to journal › Article › peer-review

14 Scopus citations

Abstract

We study conflicting arguments and empirical findings of the socioemotional wealth (SEW)-family firm performance relationship using meta-analysis. We add to the debate by questioning: First, how do major managerial decisions (strategic choices, corporate governance, and non-family stakeholder orientation) play a mediating role in the SEW performance link? Second, how do specific five SEW dimensions act as moderating variables in the SEW-performance link? We show a positive relationship between SEW and performance. Hence there is no evidence that the pursuit of family SEW occurs at the expense of financial utility. Furthermore, we find that major managerial decisions mediate the SEW-performance relation.

Original language	English (US)
Article number	100536
Journal	Journal of Family Business Strategy
Volume	14
Issue number	2
DOIs	https://doi.org/10.1016/j.jfbs.2022.100536
State	Published - Jun 2023
Externally published	Yes

Keywords

Family firm
Meta-analysis
Performance
SEW dimension
Socioemotional wealth

ASJC Scopus subject areas

Economics and Econometrics
Strategy and Management

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10.1016/j.jfbs.2022.100536

Cite this

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title = "Socioemotional wealth and family firm performance: A meta-analytic integration",

abstract = "We study conflicting arguments and empirical findings of the socioemotional wealth (SEW)-family firm performance relationship using meta-analysis. We add to the debate by questioning: First, how do major managerial decisions (strategic choices, corporate governance, and non-family stakeholder orientation) play a mediating role in the SEW performance link? Second, how do specific five SEW dimensions act as moderating variables in the SEW-performance link? We show a positive relationship between SEW and performance. Hence there is no evidence that the pursuit of family SEW occurs at the expense of financial utility. Furthermore, we find that major managerial decisions mediate the SEW-performance relation.",

keywords = "Family firm, Meta-analysis, Performance, SEW dimension, Socioemotional wealth",

author = "Jessenia Davila and Patricio Duran and Luis G{\'o}mez-Mej{\'i}a and Sanchez-Bueno, {Maria J.}",

note = "Funding Information: This work is financially supported by the National Natural Science Foundation of China (Grant No. 50221101). One of the authors (X.Y. Lu) is grateful to BMBF for a visiting scholarship. The authors gratefully acknowledge Prof. L. Ratke, Ms. X.R. Liu, Dr. J.R. Gao, Dr. T. Volkmann and Dr. O. Funke for useful discussions and their help with experiments. Publisher Copyright: {\textcopyright} 2022 Elsevier Ltd",

year = "2023",

month = jun,

doi = "10.1016/j.jfbs.2022.100536",

language = "English (US)",

volume = "14",

journal = "Journal of Family Business Strategy",

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AU - Davila, Jessenia

AU - Duran, Patricio

AU - Gómez-Mejía, Luis

AU - Sanchez-Bueno, Maria J.

N1 - Funding Information: This work is financially supported by the National Natural Science Foundation of China (Grant No. 50221101). One of the authors (X.Y. Lu) is grateful to BMBF for a visiting scholarship. The authors gratefully acknowledge Prof. L. Ratke, Ms. X.R. Liu, Dr. J.R. Gao, Dr. T. Volkmann and Dr. O. Funke for useful discussions and their help with experiments. Publisher Copyright: © 2022 Elsevier Ltd

PY - 2023/6

Y1 - 2023/6

N2 - We study conflicting arguments and empirical findings of the socioemotional wealth (SEW)-family firm performance relationship using meta-analysis. We add to the debate by questioning: First, how do major managerial decisions (strategic choices, corporate governance, and non-family stakeholder orientation) play a mediating role in the SEW performance link? Second, how do specific five SEW dimensions act as moderating variables in the SEW-performance link? We show a positive relationship between SEW and performance. Hence there is no evidence that the pursuit of family SEW occurs at the expense of financial utility. Furthermore, we find that major managerial decisions mediate the SEW-performance relation.

AB - We study conflicting arguments and empirical findings of the socioemotional wealth (SEW)-family firm performance relationship using meta-analysis. We add to the debate by questioning: First, how do major managerial decisions (strategic choices, corporate governance, and non-family stakeholder orientation) play a mediating role in the SEW performance link? Second, how do specific five SEW dimensions act as moderating variables in the SEW-performance link? We show a positive relationship between SEW and performance. Hence there is no evidence that the pursuit of family SEW occurs at the expense of financial utility. Furthermore, we find that major managerial decisions mediate the SEW-performance relation.

KW - Family firm

KW - Meta-analysis

KW - Performance

KW - SEW dimension

KW - Socioemotional wealth

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Socioemotional wealth and family firm performance: A meta-analytic integration

Abstract

Keywords

ASJC Scopus subject areas

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