A dynamic capabilities perspective to socially responsible family business: Implications on social-based advantage and market performance

Leonidas C. Leonidou, Pantelitsa P. Eteokleous, Paul Christodoulides and Jonas Strømfeldt Eduardsen

Journal of Business Research, 2023, vol. 155, issue PA

Abstract: Despite the significant role played by family business firms in the economy, society, and environment of almost every country, there is limited knowledge as to their socially responsible conduct. This article presents the results of a study focusing on the drivers and outcomes of both internal and external CSR strategies adopted by these firms. Based on a sample of 193 family business firms in Cyprus, we confirm that certain dynamic capabilities, namely sensing, adaptive, and strategic flexibility, have a favorable effect on the development of both internal and external CSR strategy in family business. The implementation of these CSR strategies was also found to generate a social-based competitive advantage, which was conducive to heightened market performance. This impact of social-based advantage on market performance was revealed to be positively moderated by both competitive intensity and social public concern.

Keywords: CSR; Dynamic capabilities; Market performance; Social-based advantage (search for similar items in EconPapers)
Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:eee:jbrese:v:155:y:2023:i:pa:s0148296322008554

DOI: 10.1016/j.jbusres.2022.113390

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