IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v144y2022icp764-775.html
   My bibliography  Save this article

A stewardship perspective in family firms: A new perspective for altruism and social capital

Author

Listed:
  • Azizi, Mohammad
  • Salmani Bidgoli, Masoud
  • Maley, Jane F.
  • Dabić, Marina

Abstract

This research aims to investigate the impact of stewardship in family firms compared to non-family firms. Family firms are typically the dominant business in many countries, yet, the nature, structure, and management can lead to unique behavioural variations compared to non-family firms. This study empirically tests a sample of 316 firms (163 family firms and 153 non-family firms) in Iran. The findings empirically support that stewardship is significantly higher in family firms, and highlights stewardship capabilities as a unique competitive advantage. In this way, the study makes an essential contribution to both theory and practice. For theory, the study has added weight to the importance of the stewardship theory for family businesses. For practice, the study highlights how encouraging and developing stewardship capabilities in family firms offers a unique strategic competitive advantage.

Suggested Citation

  • Azizi, Mohammad & Salmani Bidgoli, Masoud & Maley, Jane F. & Dabić, Marina, 2022. "A stewardship perspective in family firms: A new perspective for altruism and social capital," Journal of Business Research, Elsevier, vol. 144(C), pages 764-775.
    • Handle: RePEc:eee:jbrese:v:144:y:2022:i:c:p:764-775
    DOI: 10.1016/j.jbusres.2022.02.030
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296322001497
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2022.02.030?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Dabić, Marina & Stojčić, Nebojša & Simić, Marijana & Potocan, Vojko & Slavković, Marko & Nedelko, Zlatko, 2021. "Intellectual agility and innovation in micro and small businesses: The mediating role of entrepreneurial leadership," Journal of Business Research, Elsevier, vol. 123(C), pages 683-695.
    2. Morela Hernandez, 2008. "Promoting Stewardship Behavior in Organizations: A Leadership Model," Journal of Business Ethics, Springer, vol. 80(1), pages 121-128, June.
    3. Danny Miller & Isabelle Le Breton‐Miller & Barry Scholnick, 2008. "Stewardship vs. Stagnation: An Empirical Comparison of Small Family and Non‐Family Businesses," Journal of Management Studies, Wiley Blackwell, vol. 45(1), pages 51-78, January.
    4. Kimberly A. Eddleston & Roland E. Kidwell, 2012. "Parent–Child Relationships: Planting the Seeds of Deviant Behavior in the Family Firm," Entrepreneurship Theory and Practice, , vol. 36(2), pages 369-386, March.
    5. Jean‐Luc Arregle & Michael A. Hitt & David G. Sirmon & Philippe Very, 2007. "The Development of Organizational Social Capital: Attributes of Family Firms," Journal of Management Studies, Wiley Blackwell, vol. 44(1), pages 73-95, January.
    6. Allison W. Pearson & Jon C. Carr & John C. Shaw, 2008. "Toward a Theory of Familiness: A Social Capital Perspective," Entrepreneurship Theory and Practice, , vol. 32(6), pages 949-969, November.
    7. Franz W. Kellermanns & Kimberly A. Eddleston, 2004. "Feuding Families: When Conflict Does a Family Firm Good," Entrepreneurship Theory and Practice, , vol. 28(3), pages 209-228, May.
    8. Fries, Alexander & Kammerlander, Nadine & Leitterstorf, Max, 2021. "Leadership Styles and Leadership Behaviors in Family Firms: A Systematic Literature Review," Journal of Family Business Strategy, Elsevier, vol. 12(1).
    9. Jean-Luc Arrègle & Michael Hitt & David Sirmon & Philippe Véry, 2007. "The Development of Organizational Social Capital : Attributes of Family Firms," Post-Print hal-02312687, HAL.
    10. Isabelle Le Breton-Miller & Danny Miller, 2009. "Agency vs. Stewardship in Public Family Firms: A Social Embeddedness Reconciliation," Entrepreneurship Theory and Practice, , vol. 33(6), pages 1169-1191, November.
    11. Sascha Kraus & William McDowell & Domingo Enrique Ribeiro-Soriano & María Rodríguez-García, 2021. "The role of innovation and knowledge for entrepreneurship and regional development," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 33(3-4), pages 175-184, March.
    12. Zahra, Shaker A., 2003. "International expansion of U.S. manufacturing family businesses: the effect of ownership and involvement," Journal of Business Venturing, Elsevier, vol. 18(4), pages 495-512, July.
    13. Jess H. Chua & James J. Chrisman & Erich B. Bergiel, 2009. "An Agency Theoretic Analysis of the Professionalized Family Firm," Entrepreneurship Theory and Practice, , vol. 33(2), pages 355-372, March.
    14. Chen, Yi-Min & Liu, Hsin-Hsien & Yang, Yung-Kai & Chen, Wei-Hua, 2016. "CEO succession in family firms: Stewardship perspective in the pre-succession context," Journal of Business Research, Elsevier, vol. 69(11), pages 5111-5116.
    15. Timothy M. Madden & Laura T. Madden & Jason A. Strickling & Kimberly A. Eddleston, 2017. "Psychological contract and social exchange in family firms," International Journal of Management and Enterprise Development, Inderscience Enterprises Ltd, vol. 16(1/2), pages 109-127.
    16. Chen, Yi-Min & Liu, Hsin-Hsien & Ni, Yu-Ting & Wu, Meng-Fen, 2015. "A rational normative model of international expansion: Strategic intent perspective, market positions, and founder CEOs/family-successor CEOs," Journal of Business Research, Elsevier, vol. 68(7), pages 1539-1543.
    17. Hadjielias, Elias & Christofi, Michael & Tarba, Shlomo, 2021. "Knowledge hiding and knowledge sharing in small family farms: A stewardship view," Journal of Business Research, Elsevier, vol. 137(C), pages 279-292.
    18. Andrea Calabrò & Mariateresa Torchia & Daniela Gimenez Jimenez & Sascha Kraus, 2021. "The role of human capital on family firm innovativeness: the strategic leadership role of family board members," International Entrepreneurship and Management Journal, Springer, vol. 17(1), pages 261-287, March.
    19. Kimberly A. Eddleston & Franz W. Kellermanns & Thomas M. Zellweger, 2012. "Exploring the Entrepreneurial Behavior of Family Firms: Does the Stewardship Perspective Explain Differences?," Entrepreneurship Theory and Practice, , vol. 36(2), pages 347-367, March.
    20. James H. Davis & Mathew R. Allen & H. David Hayes, 2010. "Is Blood Thicker Than Water? A Study of Stewardship Perceptions in Family Business," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1093-1116, November.
    21. David G. Sirmon & Michael A. Hitt, 2003. "Managing Resources: Linking Unique Resources, Management, and Wealth Creation in Family Firms," Entrepreneurship Theory and Practice, , vol. 27(4), pages 339-358, October.
    22. Shaker A. Zahra & James C. Hayton & Donald O. Neubaum & Clay Dibrell & Justin Craig, 2008. "Culture of Family Commitment and Strategic Flexibility: The Moderating Effect of Stewardship," Entrepreneurship Theory and Practice, , vol. 32(6), pages 1035-1054, November.
    23. Eddleston, Kimberly A. & Kellermanns, Franz W., 2007. "Destructive and productive family relationships: A stewardship theory perspective," Journal of Business Venturing, Elsevier, vol. 22(4), pages 545-565, July.
    24. Herrero, Inés & Hughes, Mathew, 2019. "When family social capital is too much of a good thing," Journal of Family Business Strategy, Elsevier, vol. 10(3), pages 1-1.
    25. Baday Yıldız, Ezgi & Dabić, Marina & Stojčić, Nebojša & Dindaroğlu, Yeşim & Temel, Serdal, 2021. "Scrutinizing innovation performance of family firms in efficiency-driven environment," Journal of Business Research, Elsevier, vol. 129(C), pages 260-270.
    26. Wen-Ting Lin & Linda C. Wang, 2021. "Family firms, R&D, and internationalization: the stewardship and socio-emotional wealth perspectives," Asia Pacific Journal of Management, Springer, vol. 38(1), pages 91-119, March.
    27. Scholes, Louise & Hughes, Mathew & Wright, Mike & De Massis, Alfredo & Kotlar, Josip, 2021. "Family management and family guardianship: Governance effects on family firm innovation strategy," Journal of Family Business Strategy, Elsevier, vol. 12(4).
    28. Casprini, Elena & Dabic, Marina & Kotlar, Josip & Pucci, Tommaso, 2020. "A bibliometric analysis of family firm internationalization research: Current themes, theoretical roots, and ways forward," International Business Review, Elsevier, vol. 29(5).
    29. Bubolz, Margaret M., 2001. "Family as source, user, and builder of social capital," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 30(2), pages 129-131, March.
    30. Cunha, Miguel Pina e & Rego, Arménio & Clegg, Stewart & Jarvis, Walter P., 2021. "Stewardship as process: A paradox perspective," European Management Journal, Elsevier, vol. 39(2), pages 247-259.
    31. William S. Schulze & Michael H. Lubatkin & Richard N. Dino & Ann K. Buchholtz, 2001. "Agency Relationships in Family Firms: Theory and Evidence," Organization Science, INFORMS, vol. 12(2), pages 99-116, April.
    32. Alfredo De Massis & Kimberly A. Eddleston & Paola Rovelli, 2021. "Entrepreneurial by Design: How Organizational Design Affects Family and Non‐family Firms’ Opportunity Exploitation," Journal of Management Studies, Wiley Blackwell, vol. 58(1), pages 27-62, January.
    33. Allison W. Pearson & Laura E. Marler, 2010. "A Leadership Perspective of Reciprocal Stewardship in Family Firms," Entrepreneurship Theory and Practice, , vol. 34(6), pages 1117-1124, November.
    34. Mohammad Azizi & Masood Salmani Bidgoli & Ameneh Seddighian Bidgoli, 2017. "Trust in family businesses: A more comprehensive empirical review," Cogent Business & Management, Taylor & Francis Journals, vol. 4(1), pages 1359445-135, January.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Martínez-Alonso, Rubén & Martínez-Romero, María J. & Rojo-Ramírez, Alfonso A. & Lazzarotti, Valentina & Sciascia, Salvatore, 2023. "Process innovation in family firms: Family involvement in management, R&D collaboration with suppliers, and technology protection," Journal of Business Research, Elsevier, vol. 157(C).
    2. Georgiou, Thoukis & Papasolomou, Ioanna & Vrontis, Demetris & Thrassou, Alkis, 2023. "Market-oriented succession effectiveness in family business – Case-based evidence from Cyprus family-owned wine business," Journal of Business Research, Elsevier, vol. 165(C).
    3. Kowalik, Elena, 2023. "Ethical Problems in Family Firms," Junior Management Science (JUMS), Junior Management Science e. V., vol. 8(2), pages 431-452.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mazzi, Chiara, 2011. "Family business and financial performance: Current state of knowledge and future research challenges," Journal of Family Business Strategy, Elsevier, vol. 2(3), pages 166-181.
    2. Alain Verbeke & Liena Kano, 2012. "The Transaction Cost Economics Theory of the Family Firm: Family–Based Human Asset Specificity and the Bifurcation Bias," Entrepreneurship Theory and Practice, , vol. 36(6), pages 1183-1205, November.
    3. Block, Joern & Ulrich, Lennart, 2023. "Are family owners and managers good stewards in global crises? Evidence from stock market reactions to Covid-19," Journal of Family Business Strategy, Elsevier, vol. 14(1).
    4. Welsh, Dianne H.B. & Memili, Esra & Rosplock, Kirby & Roure, Juan & Segurado, Juan Luis, 2013. "Perceptions of entrepreneurship across generations in family offices: A stewardship theory perspective," Journal of Family Business Strategy, Elsevier, vol. 4(3), pages 213-226.
    5. Wright, Mike & Kellermanns, Franz W., 2011. "Family firms: A research agenda and publication guide," Journal of Family Business Strategy, Elsevier, vol. 2(4), pages 187-198.
    6. Randerson, Kathleen & Bettinelli, Cristina & Fayolle, Alain & Anderson, Alistair, 2015. "Family entrepreneurship as a field of research: Exploring its contours and contents," Journal of Family Business Strategy, Elsevier, vol. 6(3), pages 143-154.
    7. Pieper, Torsten M., 2010. "Non solus: Toward a psychology of family business," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 26-39, March.
    8. Roland Kidwell & Franz Kellermanns & Kimberly Eddleston, 2012. "Harmony, Justice, Confusion, and Conflict in Family Firms: Implications for Ethical Climate and the “Fredo Effect”," Journal of Business Ethics, Springer, vol. 106(4), pages 503-517, April.
    9. Sanchez-Famoso, Valeriano & Pittino, Daniel & Chirico, Francesco & Maseda, Amaia & Iturralde, Txomin, 2019. "Social capital and innovation in family firms: The moderating roles of family control and generational involvement," Scandinavian Journal of Management, Elsevier, vol. 35(3).
    10. Sherlock, Chelsea & Dibrell, Clay & Memili, Esra, 2023. "The impact of family commitment on firm innovativeness: The mediating role of resource stocks," Journal of Family Business Strategy, Elsevier, vol. 14(3).
    11. Nareuporn (Bell) Piyasinchai & Trin Thananusak & Mat Hughes, 2024. "Effects of Family Ownership and Professionalization on Firms’ Financial Performance and Sustainability Reputation," Entrepreneurship Theory and Practice, , vol. 48(3), pages 856-880, May.
    12. Basco, Rodrigo, 2013. "The family's effect on family firm performance: A model testing the demographic and essence approaches," Journal of Family Business Strategy, Elsevier, vol. 4(1), pages 42-66.
    13. Flamini, Giulia & Pittino, Daniel & Visintin, Francesca, 2022. "Family leadership, family involvement and mutuality HRM practices in family SMEs," Journal of Family Business Strategy, Elsevier, vol. 13(2).
    14. Ethiopia Segaro, 2012. "Internationalization of family SMEs: the impact of ownership, governance, and top management team," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 16(1), pages 147-169, February.
    15. Ismael Barros-Contreras & Héctor Pérez-Fernández & Natalia Martín-Cruz & Juan Hernangómez B., 2023. "Can we make family social capital flourish? The moderating role of generational involvement," Journal of Family and Economic Issues, Springer, vol. 44(3), pages 655-673, September.
    16. Astrachan, Joseph H., 2010. "Strategy in family business: Toward a multidimensional research agenda," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 6-14, March.
    17. Barros, Ismael & Hernangómez, Juan & Martin-Cruz, Natalia, 2016. "A theoretical model of strategic management of family firms. A dynamic capabilities approach," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 149-159.
    18. Stanley, Laura J. & McDowell, William, 2014. "The role of interorganizational trust and organizational efficacy in family and nonfamily firms," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 264-275.
    19. Georges Samara & Jasmina Berbegal-Mirabent, 2018. "Independent directors and family firm performance: does one size fit all?," International Entrepreneurship and Management Journal, Springer, vol. 14(1), pages 149-172, March.
    20. Salvatore Sciascia & Pietro Mazzola & Joseph Astrachan & Torsten Pieper, 2012. "The role of family ownership in international entrepreneurship: exploring nonlinear effects," Small Business Economics, Springer, vol. 38(1), pages 15-31, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:144:y:2022:i:c:p:764-775. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.