“…This phenomenon has been attributed in the literature to their ability to manage relationships with employees, develop unique abilities and skills related to their long-term objectives (Human Capital) (see, among others, Basco, 2015;Cabrea-Suárez et al, 2001;Danes et al, 2009;Salvato & Melin, 2008;Sirmon & Hitt, 2003), optimize internal processes, and achieve higher productivity levels (Structural Capital) (Ceja-Barba, 2014;Pearson et al, 2014;Williams & Schubert, 2011). Additionally, SMFFs demonstrate a remarkable proficiency in establishing and sustaining long-lasting connections with their stakeholders, exemplifying their strength in the realm of Relational Capital (see, among others, Binz et al, 2013;Parker et al, 2014;Zellweger et al, 2012).…”