Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance
Family business researchers acknowledge that firms controlled by families are primarily driven by a set of goals that are family-centric and non-economic in nature, known as socio-emotional wealth. However, the family business literature is yet to reach a nuanced understanding of how different dimen...
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my.um.eprints.253132020-08-12T00:50:19Z http://eprints.um.edu.my/25313/ Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance Razzak, Mohammad Rezaur Mustamil, Norizah Abu Bakar, Raida HB Economic Theory HF Commerce Family business researchers acknowledge that firms controlled by families are primarily driven by a set of goals that are family-centric and non-economic in nature, known as socio-emotional wealth. However, the family business literature is yet to reach a nuanced understanding of how different dimensions of such goals drive family commitment to the firm and consequently firm performance. This paper builds on the premise that family firms vary in their goals and aspirations and argues that the willingness of family firm owners to commit resources, time and effort towards the firm’s business goals depend on which of the dimensions of socio-emotional wealth are more emphasised by the key decision makers in the firm. We explore the gaps in the behavioural stream of family business literature, and propose a conceptual link between the dimensions of socio-emotional wealth, family commitment and firm performance and propose a set of considerations for future empirical studies. Copyright © 2020 Inderscience Enterprises Ltd. Inderscience 2020 Article PeerReviewed Razzak, Mohammad Rezaur and Mustamil, Norizah and Abu Bakar, Raida (2020) Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance. International Journal of Business Excellence, 20 (2). pp. 205-222. ISSN 1756-0047 https://doi.org/10.1504/IJBEX.2020.105345 doi:10.1504/IJBEX.2020.105345 |
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HB Economic Theory HF Commerce Razzak, Mohammad Rezaur Mustamil, Norizah Abu Bakar, Raida Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
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Family business researchers acknowledge that firms controlled by families are primarily driven by a set of goals that are family-centric and non-economic in nature, known as socio-emotional wealth. However, the family business literature is yet to reach a nuanced understanding of how different dimensions of such goals drive family commitment to the firm and consequently firm performance. This paper builds on the premise that family firms vary in their goals and aspirations and argues that the willingness of family firm owners to commit resources, time and effort towards the firm’s business goals depend on which of the dimensions of socio-emotional wealth are more emphasised by the key decision makers in the firm. We explore the gaps in the behavioural stream of family business literature, and propose a conceptual link between the dimensions of socio-emotional wealth, family commitment and firm performance and propose a set of considerations for future empirical studies. Copyright © 2020 Inderscience Enterprises Ltd. |
format |
Article |
author |
Razzak, Mohammad Rezaur Mustamil, Norizah Abu Bakar, Raida |
author_facet |
Razzak, Mohammad Rezaur Mustamil, Norizah Abu Bakar, Raida |
author_sort |
Razzak, Mohammad Rezaur |
title |
Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
title_short |
Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
title_full |
Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
title_fullStr |
Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
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Research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
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research gaps in family owned businesses: a conceptual link between socio-emotional wealth, family commitment and firm performance |
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Inderscience |
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2020 |
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http://eprints.um.edu.my/25313/ https://doi.org/10.1504/IJBEX.2020.105345 |
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1680857017836634112 |
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13.159267 |