Family firms' innovation: The indirect effects of socioemotional wealth and the role of social capital

Stasa, Michele; Machek, Ondřej

doi:10.1016/j.hitech.2023.100454

Cited by 8 publications

(4 citation statements)

References 68 publications

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“…It acts as an engine of transformation, enabling these enterprises to adapt to changing market conditions and technological advancements. Research has consistently shown that innovation is influenced by the unique dynamics of family businesses, particularly their socioemotional wealth (SEW) [22][23][24][25][26][27].…”

Section: Innovation: Engine Of Transformationmentioning

confidence: 99%

Scientometric Analysis of Socioemotional Wealth, Innovation, and Family Businesses: Dynamics of Their Interrelationship

Flen Rossi,

Rojas-Vallejos

2024

Sustainability

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This study presents a scientometric analysis of the interrelationship between socioemotional wealth, innovation, and family businesses, based on 298 articles published between 1975 and 2022. Grounded in the theory of socioemotional wealth, it investigates how emotional and social resources within family businesses influence innovation and, consequently, business success. The methodology includes statistical and graphical analysis to identify publication trends, collaboration networks, and key themes. Results reveal a significant increase in recent academic production, highlighting the growing relevance of these concepts. Four thematic clusters are identified, emphasizing the importance of socioemotional wealth and innovation in the management of family businesses, providing a solid foundation for future research and business practices.

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Section: Innovation: Engine Of Transformationmentioning

confidence: 99%

Scientometric Analysis of Socioemotional Wealth, Innovation, and Family Businesses: Dynamics of Their Interrelationship

Flen Rossi,

Rojas-Vallejos

2024

Sustainability

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Section: Literature Review and Hypothesis Developmentmentioning

confidence: 99%

“…Jones et al (2008) studied the board of directors in a family-owned business, concluding that they prefer having associated executives over external directors, intending to keep control, family values and other SEW elements. SEW and social capital have been studied recently as innovation determinants in family firms (Stasa and Machek, 2023). Zellweger et al (2012) argue that the family business, with the intention of transgenerational control, would consider selling the company at a higher price to compensate for the SEW loss.…”

Section: Socioemotional Wealth Viewmentioning

confidence: 99%

Family social capital as a mediator between socioemotional wealth and entrepreneurial orientation: evidence from Mexican SMEs

Ramírez-Solís

Mojarro-Durán

Baños-Monroy

2023

MRJIAM

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Purpose The type of social capital among families involved in business, or family social capital, has both positive and negative effects on family firms. This paper aims to investigate the mediating role of social relationships of family business members between socioemotional wealth (SEW) and firms' entrepreneurial orientation. Design/methodology/approach The authors applied a survey conducted in the four main cities in Mexico. The sample consisted of 360 small and medium enterprise (SMEs). This study's research framework and hypothesis were tested using regression analysis and the structural equation modeling technique. Findings This study finds that not only does SEW strongly influence the entrepreneurial orientation of family firms, but this influence is also mediated by the capability of such families to develop their social capital. Research limitations/implications The results show the perspective of one person in the company. Though it is the person with the highest rank and presumably the person who thoroughly knows the company, there is always a possibility of bias, which may inflate the results presented in this paper. Practical implications Based on this study's results, family firms should continuously improve their entrepreneurial abilities to achieve sustainable competitive advantage. In addition, their unique family-related characteristics further enhance these strategic approaches' positive effects on relational capital development. Originality/value This work contributes to the academic literature on entrepreneurship and social capital. As a mediator between SEW and entrepreneurial orientation, family relational capital has been under-researched. The results of this study reveal significant implications for networking management and relational capital strategies for SMEs.

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“…La cercanía cognitiva reúne a organizaciones comparables en los lugares más densos, aumentando así el intercambio de información (Hidalgo et al, 2007). Por lo tanto, el acceso al conocimiento podría depender del grado de cercanía cognitiva entre las empresas, lo que afectaría a las posibilidades de que estas accedan a conocimientos externos valiosos y los utilicen para mejorar sus resultados en materia de innovación (Stuck et al, 2016;Stasa & Machek, 2023). Las diferencias regionales pueden influir en la forma en que operan las organizaciones y en cómo innovan y comparten sus conocimientos, de forma que los recursos externos de conocimiento se consideran un requisito crucial para el éxito de las empresas en diversos ámbitos, especialmente en términos de innovación, que es el motor más potente del desarrollo socioeconómico (Chen et al, 2017;OCDE, 2018).…”

Section: Introductionunclassified

Cercanía cognitiva como fuente de conocimiento e innovación empresarial

Sánchez-García,

Martínez-Falcó,

Marco-Lajara

2023

RECIAMUC

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La finalidad de esta investigación es analizar la relación entre la cercanía cognitiva y la innovación empresarial, así como el papel mediador de la capacidad potencial y realizada de absorción en esta relación. Se llevó a cabo un análisis empírico sobre las empresas de suministro de energía eléctrica, utilizando para el análisis de los datos primarios la técnica PLS-SEM. Los hallazgos revelan que la cercanía cognitiva ejerce un impacto tanto directo como indirecto sobre la innovación empresarial, mediante el estímulo de la capacidad de absorción potencial de las empresas. No obstante, esta variable no media la relación principal directamente, sino a través de su impacto sobre la capacidad de estas para transformar y aprovechar todo el conocimiento disponible con fines de innovación. En base a estos resultados, se concluye que la cercanía cognitiva es crucial para la innovación empresarial, ya que promueve el desarrollo de acuerdos mutuamente beneficiosos entre organizaciones, particularmente en lo que respecta al conocimiento. Sin embargo, las empresas necesitan desarrollar una amplia capacidad para absorber nuevos conocimientos a fin de aprovechar plenamente los beneficios que se derivan de su cercanía cognitiva con sus grupos de interés.

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Family firms' innovation: The indirect effects of socioemotional wealth and the role of social capital

Cited by 8 publications

References 68 publications

Scientometric Analysis of Socioemotional Wealth, Innovation, and Family Businesses: Dynamics of Their Interrelationship

Scientometric Analysis of Socioemotional Wealth, Innovation, and Family Businesses: Dynamics of Their Interrelationship

Family social capital as a mediator between socioemotional wealth and entrepreneurial orientation: evidence from Mexican SMEs

Cercanía cognitiva como fuente de conocimiento e innovación empresarial

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