The influence of family commitment on the socioemotional wealth agenda of Spanish family firms: the effects on performance

M. Katiuska Cabrera-Suárez and Josefa D. Martín-Santana

International Journal of Entrepreneurship and Small Business, 2022, vol. 47, issue 1, 59-81

Abstract: Socioemotional wealth (SEW) is recognised as a relevant approach to analyse the idiosyncratic nature of family firms (FFs). However, scholars have suggested that SEW may have both a bright and a dark side in relation to its influence on FFs behaviour and performance, and that family influence may play a key role in this issue. We analyse the effect of family commitment on the orientation to an extended or a restricted SEW agenda and on the economic performance of the FF. The analysis of data from 374 family and non-family managers in 173 Spanish non-listed FFs shows that both an extended and restricted SEW agendas derive from family commitment, but only the goals related to an extended SEW lead to better performance. A multigroup analysis shows that the positive performance effects of the extended SEW agenda can only be obtained when family managers are a majority in the top management teams (TMTs).

Keywords: extended versus restricted SEW; family commitment; family firm; performance; family and non-family managers. (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:ids:ijesbu:v:47:y:2022:i:1:p:59-81

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