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Values as antecedents of socio-emotional wealth behaviour in family firms

Author

Listed:
  • Philipp Julian Ruf
  • Petra M. Moog
  • Imanol Belausteguigoitia Rius

Abstract

Research has shown that family firms differ from their non-family counterparts in terms of strategic behaviour. Socio-emotional wealth (SEW) is a homegrown theory in this context explaining differences in decision-making by acknowledging the unique connection between a family and their business. This paper contributes to the ongoing research related to the theory of socio-emotional wealth by investigating individual, family and family business values as antecedents and underlying motivators for SEW behaviour, influencing strategic decision-making in family firms, directly and as a mediator via SEW. A qualitative study was performed to analyse this connection and the effects on strategic decisions made in family firms. The outcomes show that individual and collective family values are the main drivers of SEW behaviour, changing over time and leading to a different focus on the dimensions of SEW, which is then represented in the strategic decisions made in the family business.

Suggested Citation

  • Philipp Julian Ruf & Petra M. Moog & Imanol Belausteguigoitia Rius, 2020. "Values as antecedents of socio-emotional wealth behaviour in family firms," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 40(1), pages 83-113.
    • Handle: RePEc:ids:ijesbu:v:40:y:2020:i:1:p:83-113
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    Cited by:

    1. Sven Wolff & Christina Guenther & Petra Moog & David B. Audretsch, 2023. "The geography of the continuum of entrepreneurship activities—a first glance based on German data," The Journal of Technology Transfer, Springer, vol. 48(4), pages 1243-1273, August.

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