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Socioemotional Wealth in Family Businesses

In: Entrepreneurial Family Businesses

Author

Listed:
  • Veland Ramadani

    (South East European University)

  • Esra Memili

    (University of North Carolina at Greensboro)

  • Ramo Palalić

    (International University of Sarajevo)

  • Erick P. C. Chang

    (Arkansas State University)

Abstract

Socioemotional wealth in private companies is a very important asset. As the family business grows and develops further, it gives an impression to the public of its current status. However, perceptions about this issue are different among family members and employees, and thus, a different attitude in family firms, toward the socioemotional wealth, exists. This chapter portrays the nature and important role of socioemotional wealth and how it is being created and maintained over time. Moreover, it compares family with non-family businesses concerning the socioemotional wealth. Also, the chapter elaborates on tools and mechanisms to create the socioemotional wealth. Other issues and positive practices are explored and narrated.

Suggested Citation

  • Veland Ramadani & Esra Memili & Ramo Palalić & Erick P. C. Chang, 2020. "Socioemotional Wealth in Family Businesses," Springer Texts in Business and Economics, in: Entrepreneurial Family Businesses, chapter 6, pages 101-119, Springer.
    • Handle: RePEc:spr:sptchp:978-3-030-47778-3_6
    DOI: 10.1007/978-3-030-47778-3_6
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