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Preserving Socioemotional Wealth in Family Firms: Asset or Liability? The Moderating Role of Business Context
Jönköping University, Jönköping International Business School, JIBS, ESOL (Entrepreneurship, Strategy, Organization, Leadership).ORCID iD: 0000-0003-0691-2740
Bocconi University, Department of Management and Technology, Milano, Italy.
Bocconi University, Department of Management and Technology, Milano, Italy.
Texas A&M University, Department of Management, Mays Business School, Texas, USA.
2013 (English)In: Entrepreneurship: Theory & Practice, ISSN 1042-2587, E-ISSN 1540-6520, Vol. 37, no 6, 1341-1360 p.Article in journal (Refereed) Published
Abstract [en]

We ask whether choices aimed at preserving socioemotional wealth (SEW) represent an asset or a liability in family-controlled firms. Specifically, we consider one major SEW-preserving mechanism—having as chief executive officer (CEO) a member of the controlling family—and hypothesize that this choice is (1) an asset in business contexts, such as industrial districts, in which tacit rules and social norms are relatively more important, but (2) a potential liability in contexts like stock exchange markets, where formal regulations and transparency principles take center stage. The results from our empirical analysis confirm these hypotheses.

Place, publisher, year, edition, pages
2013. Vol. 37, no 6, 1341-1360 p.
National Category
Business Administration
URN: urn:nbn:se:hj:diva-23434DOI: 10.1111/etap.12069Local ID: IHHESOLISOAI: diva2:695186

Family Business Special Issue

Available from: 2014-02-10 Created: 2014-02-10 Last updated: 2016-02-04Bibliographically approved

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Naldi, Lucia
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