Familiness and socioemotional wealth in Spanish family firmsAn empirical examination
- Ismael Barros
- Juan Hernangómez
- Natalia Martin-Cruz
ISSN: 2444-8788, 2444-877X
Year of publication: 2017
Volume: 7
Issue: 1-2
Pages: 14-24
Type: Article
More publications in: European Journal of Family Business
Sustainable development goals
Abstract
The socioemotional wealth (SEW) related to emotional endowments accumulated in the business by the family, is one of the most important features that differentiate the family firms of other organizations. However, there are few studies developed in the context of the antecedents and consequences of the building and use of SEW in the family business. Therefore, this study, using a sample of Spanish family firms that are non-publicly traded, explains how family influence affects the building and use of SEW and, thus, the organizational effectiveness of the family firm. The results indicate mixed results regarding the impact of the family involvement on the essence. Those suggest a positive relationship between building and use of SEW and organizational effectiveness of the family business.