The influence of socioemotional wealth in the entrepreneurial orientation of family businesses

Perlines, Felipe Hernández; Moreno‐Garcia, Juan; Yáñez-Araque, Benito

doi:10.1007/s11365-019-00561-0

Cited by 49 publications

(46 citation statements)

References 151 publications

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“…Additionally, family members who are involved in the business may expect and get perquisites and other privileges that reduce profitability (Cruz et al 2012). While engaging family members does result in some non-economics benefits, such as socioemotional wealth (Gomez-Mejia et al 2007Hernández-Perlines et al 2019), and may increase sales, it also may decrease the overall profitability due to the unproductive use of resources. Oftentimes, in these scenarios conflict occurs that has a negative impact on business performance (Arregle et al 2007;Kammerlander et al 2015;Morck and Yeung 2003).…”

Section: Effect Of Family Financial Support On Entrepreneurial Successmentioning

confidence: 99%

Family enrichment and women entrepreneurial success: the mediating effect of family interference

Welsh

Kaciak

2019

Int Entrep Manag J

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Managing work and family is a topic of continual interest. Drawing on work-family interface (WFI) literatures, we test a model linking family-to-business enrichment and family-to-business interference, directly and indirectly, to the entrepreneurial success of women-owned businesses. We consider two types of enrichment: family instrumental (financial) support and family affective (moral) support. The interference aspect of WFI is depicted by women entrepreneurs' gender-related personal problems. Due to the non-linear nature of our model (logit), we apply for the first time in the entrepreneurship literature, the Karlson-Holm-Breen (KHB) method, which has recently been developed for testing mediation in such models. In a sample of female entrepreneurs in a stable economic environment, Austria, we found that the interference dimension mediates the relationship between the enrichment components and entrepreneurial success. Specifically, personal problems have a negative effect when family financial support is present and a positive effect when family moral support is experienced. Implications and future research are discussed.

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Section: Effect Of Family Financial Support On Entrepreneurial Successmentioning

confidence: 99%

Family enrichment and women entrepreneurial success: the mediating effect of family interference

Welsh

Kaciak

2019

Int Entrep Manag J

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“…The reason for applying the stakeholder theory lies in the research suggestion that family firms are proactive in stakeholder engagement [23]. One reason is seen in their protection of socio-emotional endowments [59][60][61]. Prominently, the concept of socio-emotional wealth (SEW) suggests that family firms focus not only on financial goals, but also incorporate non-financial goals into decision-making to protect the family's well-being [61][62][63].…”

Section: Family Firms As Major Tourism Stakeholdersmentioning

confidence: 99%

Tourism Family-Business Owners’ Risk Perception: Its Impact on Destination Development

Glowka

Zehrer

2019

Sustainability

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In developing and sustaining tourism, destination management involves the coordination of various stakeholders, and theory suggests that securing sustainability, including stakeholder interests in decision-making and strategic planning is crucial. Therefore, understanding stakeholders’ interests and relationships is also essential. In the Austrian Alpine region, small- and medium-sized family businesses offering tourism products dominate the rural tourism landscape. However, little research has been done on how these family firms contribute to shaping the destination’s future. Therefore, through guided interviews, this qualitative study examined family-business owners’ perceptions of risks for Austrian tourism destination development. Family firms externalized such risks as labor shortage as a structural issue and neglected their responsibility to attract employees by improving working conditions. Thus, the externalization of risks to other stakeholder groups prevented family firms’ proactive approach to sustainable destination development.

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“…Second, this study explored the moderating effect of entrepreneurial spirit on the relationship between SEWs and IBE. In previous studies, entrepreneurial spirit is usually missing from the discussion of the SEW of family businesses (Gómez-Mejía et al, 2007;Berrone et al, 2012) and the influence of SEW on entrepreneurial orientation (Hernández-Perlines et al, 2019). Our study finds that the order of priority accorded to SEW in a family business varies with the presence or absence of entrepreneurial spirit.…”

Section: Conclusion and Limitationsmentioning

confidence: 52%

Family Business Internationalization in Paradox: Effects of Socioemotional Wealth and Entrepreneurial Spirit

Jin

2021

Front. Psychol.

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This study investigates the internationalization (i. e., foreign investment) of small family businesses by classifying the effects of external socioemotional wealth (family reputation) vs. internal socioemotional wealth (family involvement). The study involved 2,704 small family businesses in China, and the results support the hypothesis that family reputation has a positive effect on internationalization, while family involvement has a negative effect on internationalization. Moreover, entrepreneurial spirit reinforces the positive effect of family reputation on internationalization and enhances the negative relationship between family involvement and internationalization. This study contributes by examining the effect of entrepreneurial spirit as a potential balancing factor for the paradoxical influence of internal vs. external socioemotional wealth.

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The influence of socioemotional wealth in the entrepreneurial orientation of family businesses

Cited by 49 publications

References 151 publications

Family enrichment and women entrepreneurial success: the mediating effect of family interference

Family enrichment and women entrepreneurial success: the mediating effect of family interference

Tourism Family-Business Owners’ Risk Perception: Its Impact on Destination Development

Family Business Internationalization in Paradox: Effects of Socioemotional Wealth and Entrepreneurial Spirit

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