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A Closer Look at Socioemotional Wealth: Its Flows, Stocks, and Prospects for Moving Forward

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  • Jess H. Chua
  • James J. Chrisman
  • Alfredo De Massis

Abstract

We supplement the recent work by Miller and Le Breton–Miller by evaluating more closely two related theoretical aspects of the socioemotional wealth concept: (1) the stocks and flows of noneconomic benefits and how they influence family firm behavior; and (2) the use of prospect theory as an umbrella concept. We, thus, contribute to family business research by delineating a number of important research questions related to these two theoretical aspects that need to be addressed if theories of family firm behavior and performance are to move forward.

Suggested Citation

  • Jess H. Chua & James J. Chrisman & Alfredo De Massis, 2015. "A Closer Look at Socioemotional Wealth: Its Flows, Stocks, and Prospects for Moving Forward," Entrepreneurship Theory and Practice, , vol. 39(2), pages 173-182, March.
    • Handle: RePEc:sae:entthe:v:39:y:2015:i:2:p:173-182
    DOI: 10.1111/etap.12155
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    References listed on IDEAS

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    1. Lucia Naldi & Carmelo Cennamo & Guido Corbetta & Luis Gomez–Mejia, 2013. "Preserving Socioemotional Wealth in Family Firms: Asset or Liability? The Moderating Role of Business Context," Entrepreneurship Theory and Practice, , vol. 37(6), pages 1341-1360, November.
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