Can we make family social capital flourish? The moderating role of generational involvement

Ismael Barros-Contreras (), Héctor Pérez-Fernández (), Natalia Martín-Cruz () and Juan Hernangómez B. ()
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Ismael Barros-Contreras: Universidad Austral de Chile Sede Puerto Montt
Héctor Pérez-Fernández: Universidad de Valladolid
Natalia Martín-Cruz: Universidad de Valladolid
Juan Hernangómez B.: Universidad de Valladolid

Journal of Family and Economic Issues, 2023, vol. 44, issue 3, No 9, 655-673

Abstract: Abstract The special features displayed by family firms characterize and shape their family social capital and make them unique. The participation of both the family and the firm creates distinctive resources and capabilities in the family firm. As new generations arrive, opposing forces begin to shake the firm, and while some embrace change others expect the continuity of the family influence. Likewise, the influence of the family in the firm conditions its performance. In this study, we empirically address how family influence promotes the development of family social capital that, in turn, impacts on the organizational effectiveness of family firms. Furthermore, we observe the moderating role of generational involvement by considering generations an important source of heterogeneity in family firms. We test the hypotheses on a sample of Spanish family firms, analyzing the data using partial least squares (PLS). Results indicate that the family influence positively affects the development of family social capital and, therefore, the organizational effectiveness of the family firm. However, generational involvement can moderate both relationships in a negative way, by reducing the development and exploitation of the family social capital.

Keywords: Family social capital; Generational involvement; Organizational effectiveness; Family influence (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s10834-022-09855-y

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