The determinants of socioemotional wealth and the family firm’s outcomes

Jorge Eduardo Gómez Villanueva

Journal: International Journal of Entrepreneurship

Coautores: Axel A. Zavala, Édgar R. Ramírez

Área del conocimiento: Ciencias Sociales - Economía y Negocios

Abstract:

Based on the Behavioral Agency Theory and the socio-emotional wealth model proposed by Berrone, Cruz & Gómez-Mejía (2012), this work focuses on measuring and validating the model and its relationship to family firms results. It also analyzes some characteristics such as size and age of the family businesses to determine their influence on the relation between socioemotional wealth and family firms results. Unlike other studies, an empirical study was made in private family firms (not listed in the stock market). The study suggests that family firms outcomes are positively related to socioemotional wealth. Furthermore, the 5 dimensions model of socioemotional wealth is valid but requires adjustments in some dimensions.