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Problematizing socioemotional wealth in family firms: a systems-theoretical reframing

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  • Rupert Hasenzagl
  • Isabella Hatak
  • Hermann Frank

Abstract

The concept of socioemotional wealth (SEW) seeks to present an independent paradigmatic basis for family-firm research, and in doing so aims to establish a sound basis for the scientific legitimacy of family-firm research. Establishing that legitimacy requires scholars to demonstrate that SEW is based on coherent assumptions on several theoretical levels. This paper uses the problematization methodology to challenge the coherence of the theoretical assumptions underpinning SEW and to advance theory development. The results of this problematization show that SEW is built on a theoretical level close to the object of research (in-house assumptions), but that more deeply-rooted theoretical levels (e.g. paradigmatic assumptions) are not sufficiently elaborated. Moreover, the original conceptualization is based on a positivist-mechanistic view, which hinders SEW reflecting the complex reality of family firms. Based on the results of this problematization, new systems theory is applied to reframe SEW’s theoretical grounding. Thereby the main contribution of the paper is a critical reflection on the theoretical underpinnings of SEW (in particular root-metaphor and paradigmatic assumptions), serving as the basis for advancing a coherent theoretical understanding of this important concept in family business research.

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  • Rupert Hasenzagl & Isabella Hatak & Hermann Frank, 2018. "Problematizing socioemotional wealth in family firms: a systems-theoretical reframing," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 30(1-2), pages 199-223, January.
    • Handle: RePEc:taf:entreg:v:30:y:2018:i:1-2:p:199-223
    DOI: 10.1080/08985626.2017.1401123
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    2. Gerken, Maike & Hülsbeck, Marcel & Ostermann, Thomas & Hack, Andreas, 2022. "Validating the FIBER scale to measure family firm heterogeneity – A replication study with extensions," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    3. Shuai Song & Lixin Zhou & Stavros Sindakis & Sakshi Aggarwal & Charles Chen, 2024. "The Impact of Intergenerational Succession Intention on Family Firm’s Innovation Strategy: Evidence from China," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 204-237, March.
    4. Moreno-Menéndez, Ana M. & Casillas, José C., 2021. "How do family businesses grow? Differences in growth patterns between family and non-family firms," Journal of Family Business Strategy, Elsevier, vol. 12(3).
    5. Cleary, Peter & Quinn, Martin & Moreno, Alonso, 2019. "Socioemotional wealth in family firms: A longitudinal content analysis of corporate disclosures," Journal of Family Business Strategy, Elsevier, vol. 10(2), pages 119-132.

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