Corporate Social Responsibility in Canadian Family Businesses: A Socioemotional Wealth Perspective

Imen Latrous, Jihene Kchaou, Myriam Ertz () and Yosra Mnif
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Imen Latrous: Laboratory for Research and Intervention in Organizational Governance (LARIGO), Laboratory of Research on New Forms of Consumption (LaboNFC), University of Quebec at Chicoutimi, Chicoutimi, QC G7H 2B1, Canada
Jihene Kchaou: Governance, Finance and Accounting Laboratory (GFC Laboratory), Faculty of Economics and Management, High Institute of Business Administration of Sfax, University of Sfax, Sfax 3029, Tunisia
Myriam Ertz: Laboratory of Research on New Forms of Consumption (LaboNFC), University of Quebec at Chicoutimi, Chicoutimi, QC G7H 2B1, Canada
Yosra Mnif: Governance, Finance and Accounting Laboratory (GFC Laboratory), Faculty of Economics and Management, High Institute of Business Administration of Sfax, University of Sfax, Sfax 3029, Tunisia

IJFS, 2024, vol. 12, issue 3, 1-45

Abstract: After having gained prominence in the late 20th century, corporate social responsibility (CSR) has emerged as a critical business aspect, adopted widely across the corporate landscape. Although family firms play a significant global role, research on their relationship with CSR performance remains sparse and inconclusive. This paper seeks to bridge this gap by employing the primary classification of family firms, the socioemotional wealth perspective, and its FIBER model to examine their influence on CSR performance. The focus is on Canadian public companies listed on the S&P/TSX Composite Index from 2014 to 2022. Utilizing the NBC Canadian Family Index, the findings suggest that family firms exhibit superior CSR performance compared to their non-family counterparts. Further analyses indicate that family firms with greater control and influence by family members, those named after the family, those with strong emotional ties, and first-generation family firms tend to have enhanced CSR performance. By developing a socioemotional wealth score through FIBER dimensions to classify family firms, this study underscores the association of family firms with higher CSR performance, validating the robustness of the results.

Keywords: corporate social responsibility; family business; socioemotional wealth; Canada (search for similar items in EconPapers)
JEL-codes: F2 F3 F41 F42 G1 G2 G3 (search for similar items in EconPapers)
Date: 2024
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