Beyond the balance Sheet: The effects of family influence on social performance

Kevin C. Cox, Jason Lortie, David R. Marshall and Roland E. Kidwell

Journal of Business Research, 2022, vol. 143, issue C, 318-330

Abstract: This study examines the unique family influence on social performance among family firms. Integrating a new systems theory of family influence with stewardship and stakeholder salience perspectives, we contend that some forms of family influence lead family firms to view society as a particularly salient stakeholder. Thus, when family influenced decisions are consistent with stewardship domains of family firms (continuity, community, and connection), society-related goals become increasingly important to leaders in family firms and subsequently increase the social performance of these firms. We test these relationships with a sample of 300 family firm owners and find evidence generally supporting our hypotheses. This study sheds new light on the relationship between family firms and social impact.

Keywords: Family influence; Stakeholder salience; Social performance; Stewardship theory (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:143:y:2022:i:c:p:318-330

DOI: 10.1016/j.jbusres.2022.01.013

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