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Does Socioemotional Wealth Matter for Competitive Advantage? A Case of Polish Family Businesses

Author

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  • Katarzyna Bratnicka-Myśliwiec

    (University of Economics in Katowice, Faculty of Economics, Department of Entrepreneurship and Management Innovation, ul. 1-go Maja 50, 40-287 Katowice, Poland)

  • Martyna Wronka-Pośpiech

    (University of Economics in Katowice, Faculty of Economics, Department of Entrepreneurship and Management Innovation, ul. 1-go Maja 50, 40-287 Katowice, Poland)

  • Tomasz Ingram

    (University of Economics in Katowice, Faculty of Economics, Department of Entrepreneurship and Management Innovation, ul. 1-go Maja 50, 40-287 Katowice, Poland)

Abstract

A growing body of research is concerned with how family businesses achieve competitive advantage, yet unique qualities that distinguish family firms and non-family firms are sometimes overlooked. In our study, we argue that socioemotional wealth (SEW) may trigger or limit family firms’ strategic initiatives that ultimately shape their competitive advantage. Therefore, in our study of 193 Polish family firms, we investigate how (SEW) and a firm’s competitive advantage are associated with a family firm context. Our research results reveal that, indeed, (SEW) and competitive advantage are partially associated and SEW can be regarded as an important strategic antecedent to firm performance

Suggested Citation

  • Katarzyna Bratnicka-Myśliwiec & Martyna Wronka-Pośpiech & Tomasz Ingram, 2019. "Does Socioemotional Wealth Matter for Competitive Advantage? A Case of Polish Family Businesses," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 15(1), pages 123-146.
    • Handle: RePEc:aae:journl:v:15:y:2019:i:1:p:123-146
    DOI: 10.7341/20191515
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    References listed on IDEAS

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    2. Miller, Danny & Le Breton-Miller, Isabelle & Lester, Richard H. & Cannella Jr., Albert A., 2007. "Are family firms really superior performers?," Journal of Corporate Finance, Elsevier, vol. 13(5), pages 829-858, December.
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    4. Ronald C. Anderson & David M. Reeb, 2003. "Founding‐Family Ownership and Firm Performance: Evidence from the S&P 500," Journal of Finance, American Finance Association, vol. 58(3), pages 1301-1328, June.
    5. Alexander T Mohr & Jonas Puck, 2013. "Revisiting the Trust-performance Link in Strategic Alliances," Management International Review, Springer, vol. 53(2), pages 269-289, April.
    6. David L. Deephouse & Peter Jaskiewicz, 2013. "Do Family Firms Have Better Reputations Than Non-Family Firms? An Integration of Socioemotional Wealth and Social Identity Theories," Journal of Management Studies, Wiley Blackwell, vol. 50(3), pages 337-360, May.
    7. Bauweraerts, Jonathan & Colot, Olivier, 2017. "Exploring nonlinear effects of family involvement in the board on entrepreneurial orientation," Journal of Business Research, Elsevier, vol. 70(C), pages 185-192.
    8. Wagner, Dominik & Block, Joern H. & Miller, Danny & Schwens, Christian & Xi, Guoqian, 2015. "A meta-analysis of the financial performance of family firms: Another attempt," Journal of Family Business Strategy, Elsevier, vol. 6(1), pages 3-13.
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    Cited by:

    1. Marco Pini, 2019. "Family management and Industry 4.0: Different effects in different geographical areas? An analysis of the less developed regions in Italy," Journal of Entrepreneurship, Management and Innovation, Fundacja Upowszechniająca Wiedzę i Naukę "Cognitione", vol. 15(3), pages 73-102.
    2. Benjiang Ma & Yanlin Wang & Zhifang Zhou & Yu Lai & Zhongmin Zhou & Muhammad Farhan Bashir, 2022. "Can controlling family involvement promote firms to fulfill environmental responsibilities?—Evidence from China," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 43(2), pages 569-592, March.
    3. Tomasz Ingram & Katarzyna Bratnicka-Mysliwiec, 2021. "Organizational Resilience and Family Firm Performance: The Role of Socioemotional Wealth," European Research Studies Journal, European Research Studies Journal, vol. 0(3), pages 523-540.

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    More about this item

    Keywords

    family business; (SEW); competitive advantage;
    All these keywords.

    JEL classification:

    • D23 - Microeconomics - - Production and Organizations - - - Organizational Behavior; Transaction Costs; Property Rights
    • L25 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Performance

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