Corporate Social Performance of Family Firms: A Place-Based Perspective in the Context of Layoffs
Kihun Kim (),
Zulfiquer Ali Haider (),
Zhenyu Wu () and
Junsheng Dou ()
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Kihun Kim: Miami University
Zulfiquer Ali Haider: University of Manitoba
Zhenyu Wu: University of Manitoba
Junsheng Dou: Zhejiang University
Journal of Business Ethics, 2020, vol. 167, issue 2, No 6, 235-252
Abstract This paper investigates the layoff behavior, a typical people dimension of corporate social performance (CSP), of family firms from a place-based perspective. We theorize that a place-based culture within family firms ensures that all organizational members share a deep sense of connection with the place of operations which makes them inherently care about their impact on society. Using data on layoffs of 2000 largest US firms between 1994 and 2007, we find that family firms do indeed exhibit a lower tendency to lay off employees in comparison to non-family firms; this relationship is particularly strong in ‘places’ with low population where the negative social externalities related to layoffs tend to be higher. Further post hoc analyses indicate that family firms have a strong place-based culture which can provide resource-based competitive advantages.
Keywords: Family business; Layoff; Place-based organizational culture; Corporate social performance; Resource-based view (search for similar items in EconPapers)
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