The setting of non-financial goals in the family firm: The influence of family climate and identification

Mª Katiuska Cabrera-Suárez, Mª de La Cruz Déniz-Déniz and Josefa D. Martín-Santana

Journal of Family Business Strategy, 2014, vol. 5, issue 3, 289-299

Abstract: The article contributes to the literature on socioemotional wealth by analysing the drivers of non-financial goals in the family firm. We draw from family system and social identity literature to analyse how family dynamics affect the setting of non-financial goals suggesting that this influence is mediated by the family's degree of identification with the firm. More specifically, we propose that a positive family climate in terms of cohesion, open communication and intergenerational attention generates a greater identification of the family with the firm. In turn, identification leads the firm to adopt value creation goals specific to the family or non-financial goals. Data obtained from 374 members of TMTs in 173 Spanish private family firms allow for the confirmation of these expectations.

Keywords: Family firms; Family climate; Identification; Non-financial goals; TMTs; Socioemotional wealth (search for similar items in EconPapers)
Date: 2014
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Citations: View citations in EconPapers (18)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:fambus:v:5:y:2014:i:3:p:289-299

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DOI: 10.1016/j.jfbs.2014.05.003

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