A socioemotional wealth perspective on innovativeness and performance of family businesses.

Kosmidou, Vasiliki

doi:10.18297/etd/2992

Cited by 5 publications

(13 citation statements)

References 180 publications

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“…Thus, SEW instills a cautious attitude in family firms' behaviour that limits their strategic choices which in turn, impacts their performance (Muñoz-Bullon et al, 2018;Naldi et al, 2013). However, several scholars posit that SEW does not affect firm performance directly; rather, the relationship is more defined by some mediating variable (Hernández-Perlines et al, 2019;Kosmidou, 2018;Razzak & Jassem, 2019). We argue that the link between SEW and firm performance is mediated by the firm's internationalisation strategies.…”

Section: Introductionmentioning

confidence: 80%

“…In response to the call of Gast et al (2018), who suggests that SEW should not be treated as a higher-order construct; the given conceptual framework (Figure 1) treats the SEW dimensions as antecedents for internationalisation and, in turn, firm performance. The underlying assumption was that the different dimensions of SEW had different effects on internationalisation strategies of family firms, as also observed for other strategic choices (Kellermanns et al, 2012;Kosmidou, 2018). The influence of SEW dimensions on the endogenous variables will be now explained in detail.…”

Section: Effect Of Sew On Internationalisationmentioning

confidence: 89%

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Taking the international route: Investigating the impact of socioemotional wealth dimensions on family firm performance via internationalisation

Chang¹,

Mubarik²

2022

EBER

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The aim of the article is to analyse the mediating effect of internationalisation between socioemotional wealth (SEW) dimensions and family firm performance. Research Design & Methods:The study is quantitative and uses a survey method. A sample of 303 family firms was surveyed from four cities in Pakistan. The partial least squares structural equation modeling (PLS-SEM) was used to assess the relationship between the SEW dimensions and firm performance with internationalisation as the mediating variable. Findings: The findings revealed that internationalisation has a partial mediation with four dimensions of SEW and firm performance. Moreover, the authors propose that the dimensions of SEW in themselves are not negative or positive, but rather their effect becomes such when interacting with certain variables. Implications & Recommendations:The study guided family firm owner-managers to leverage the positive effect of some dimensions of SEW while resolving the negative impact of other dimensions for firm's growth and success. Contribution & Value Added:The study used the individual dimensions of socioemotional wealth from the FIBER scale in contrast to single proxies and higher-order composite SEW construct to analyse the impact of each dimension on firm performance via the mediating effect of internationalisation.

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Section: Introductionmentioning

confidence: 80%

Section: Effect Of Sew On Internationalisationmentioning

confidence: 89%

Taking the international route: Investigating the impact of socioemotional wealth dimensions on family firm performance via internationalisation

Chang¹,

Mubarik²

2022

EBER

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“…Seema (2020) applied the SEWi scale to assess the impact of financial performance on Indian private family enterprises, revealing no significant association between various financial indicators and SEW dimensions (FC, FE, FP). Similarly, Kosmidou (2018) found no direct effect of internal SEW on privately held family firms' financial performance and innovation. The SEWi scale, employed in this study, gauges the relative importance of SEW rather than its actual presence in the assessed scenario, emphasising the priority and relevance of SEW-related matters in understanding how SEW influences the financial performance of FoF-PF (Prügl, 2019;Rosecká & Machek, 2023;Seema, 2020).…”

Section: Hypothesis Developmentmentioning

confidence: 90%

“…The primary participant in this study was the firm's owner and founder or Chief Executive Officer (CEO), and quantitative data were collected using a selfcompletion questionnaire. This selection was based on the belief that high-level informants are more reliable sources than low-level informants (Kosmidou, 2018;Razzak & Jassem, 2019;Seema, 2020). Naldi et al (2013) suggest that selecting a family member as CEO can effectively preserve SEW and improve financial performance.…”

Section: Survey Instrumentmentioning

confidence: 99%

“…Naldi et al (2013) suggest that selecting a family member as CEO can effectively preserve SEW and improve financial performance. Validated family business measurements were used to create the survey instrument for comparison with previous research (Debicki et al, 2017;Kellermanns et al, 2012;Kosmidou, 2018). Primary data for the independent variables (SEW dimensions) was collected using the adopted standardised questionnaire on a fivepoint Likert scale (1 strongly disagree to 5 strongly agree).…”

Section: Survey Instrumentmentioning

confidence: 99%

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Socioemotional Wealth and Financial Performance of Single-Family-Owned Food Processing Firms: Evidence from Tanzania

Lubawa,

Raphael

2023

Colombo Bus. J

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This study assessed how Socioemotional Wealth (SEW) influences the financial performance of single-family-owned firms in the same industry. Previous research on family firms has yielded conflicting results. Thus, this study fills a gap. Data is collected from firms' owners using a structured questionnaire. Family continuity, family prominence, and family enrichment are used to measure the SEW. The financial performance was subjectively assessed. Multiple regression analysis is used to examine the data obtained from 267 firms. The findings suggest that the three dimensions of SEW - family continuity, family enrichment and family prominence - significantly influence single-family-owned firms' financial performance (p = 0.00). This study adds context-specific insights, empirical facts, and a deeper understanding of family-owned firms' subjective financial performance to the SEW development literature—the discipline of SEW theory and its application benefit from its research and practice implications. Future research should examine how firm culture affects SEW-financial performance ties by employing a larger sample.

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The relationship between non-family management in family firms and firm performance: A meta-analysis

Kosmidou

Philip

2023

Journal of General Management

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The purpose of this meta-analysis is to empirically quantify the relationship between non-family management and family firm performance and to examine the potential influence of moderating factors on this relationship. Integrating findings from 69 studies and 105 total samples, we find a significant, positive, and weak relationship that is contingent on firm variables including firm size, age, and listing on the stock market as well as methodological variables including research design and measures for both non-family management and family firm performance. Our findings show that non-family management has a stronger performance effect in studies with small, young, and private family firms and in those with panel datasets as opposed to cross-sectional ones. The study contributes to the family firm literature and yields important implications for research and practice.

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A socioemotional wealth perspective on innovativeness and performance of family businesses.

Cited by 5 publications

References 180 publications

Taking the international route: Investigating the impact of socioemotional wealth dimensions on family firm performance via internationalisation

Taking the international route: Investigating the impact of socioemotional wealth dimensions on family firm performance via internationalisation

Socioemotional Wealth and Financial Performance of Single-Family-Owned Food Processing Firms: Evidence from Tanzania

The relationship between non-family management in family firms and firm performance: A meta-analysis

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