Family Firms and Ethics: Towards a Deeper Understanding of the Determinants of Ethical Decision-Making and Emerging Future Research Pathways

Minas N. Kastanakis (), Solon Magrizos (), Katerina Kampouri () and Andrea Calabrò ()
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Minas N. Kastanakis: ESCP Business School
Solon Magrizos: University of Birmingham
Katerina Kampouri: Aristotle University of Thessaloniki
Andrea Calabrò: IPAG Business School

Journal of Business Ethics, 2025, vol. 198, issue 4, No 10, 919-946

Abstract: Abstract The goal of this study is to reveal which contextual factors can shape ethical behaviour and decision-making in family firms (FFs), with the aim to uncover emerging themes that help set the stage for future work on FF ethics. To do so, we conducted an integrative literature review. By systematically collecting, reviewing 90 studies and synthesizing their key findings with prior theoretical foundations in the FF field, we demonstrate how personal and family values, preservation of socioemotional wealth, generation succession and structural factors (e.g. FF size, FF life cycle) can affect ethical decision-making in FFs. We also provide propositions and research pathways to orient future studies.

Keywords: Family firms; Ethics; Review; Socio-emotional wealth; Family structures; Values (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/s10551-025-05945-7

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