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The Reciprocal Relationship of Innovation Capabilities and Socioemotional Wealth in a Family Firm

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  • Sarah Fitz‐koch
  • Mattias Nordqvist

Abstract

This paper deals with entrepreneurship in family firms by researching how technology‐based innovation capabilities influence the socioemotional dimensions of the owning family and vice versa. In combination with dynamic capabilities, the socioemotional wealth (SEW) perspective offers a framework that enables an investigation of the nature of innovation capabilities in family firms. Studying a single firm, we identify a positive reciprocal relationship between innovation capabilities and SEW. We find that this reciprocal relationship within the family business presents itself in a synergistic fashion, yielding synergies between financial wealth and SEW. The findings contribute to the literature on entrepreneurship and innovation in family businesses.

Suggested Citation

  • Sarah Fitz‐koch & Mattias Nordqvist, 2017. "The Reciprocal Relationship of Innovation Capabilities and Socioemotional Wealth in a Family Firm," Journal of Small Business Management, Taylor & Francis Journals, vol. 55(4), pages 547-570, October.
    • Handle: RePEc:taf:ujbmxx:v:55:y:2017:i:4:p:547-570
    DOI: 10.1111/jsbm.12343
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    Cited by:

    1. Sun, Lan & Liu, Shaobo & Ouyang, Ruolan & Zhao, Yang, 2024. "Innovation at the helm: Decoding founder-manager influence in Chinese family firms," Pacific-Basin Finance Journal, Elsevier, vol. 85(C).
    2. Leonidou, Leonidas C. & Eteokleous, Pantelitsa P. & Christodoulides, Paul & Strømfeldt Eduardsen, Jonas, 2023. "A dynamic capabilities perspective to socially responsible family business: Implications on social-based advantage and market performance," Journal of Business Research, Elsevier, vol. 155(PA).
    3. Angela Dettori & Michela Floris, 2023. "Improving continuity by simplifying the structure of family firms: a replication study," Management Review Quarterly, Springer, vol. 73(2), pages 635-660, June.
    4. Gundula Glowka & Richard Hule & Anita Zehrer, 2024. "Risk perception of SMEs: strategic risks, family-related risks, external risks," Risk Management, Palgrave Macmillan, vol. 26(4), pages 1-27, December.

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