Psychological contract and social exchange in family firms

Madden, Timothy M.; Madden, Laura T.; Strickling, Jason A.; Eddleston, Kimberly A.

doi:10.1504/ijmed.2017.082543

Cited by 14 publications

(6 citation statements)

References 41 publications

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“…However, satisfaction from the succession process is an often-ignored element in understanding the success of the succession planning process. The sparse prior literature on succession satisfaction has suggested that succession planning can contribute to the satisfaction of family members involved in the succession process (Madden et al, 2017). Succession planning can lead to higher satisfaction and commitment to the firm, which in turn, can positively impact firm performance.…”

Section: Discussionmentioning

confidence: 99%

“…It affirms a positive and significant relationship between formalized succession planning and firm performance, mediated by succession satisfaction. The existing literature has sporadically touched upon succession satisfaction but has rarely emphasized its paramount significance (Madden et al, 2017;Sharma et al, 2003a). While a formalized succession plan is integral to strategic entrepreneurship in IJEBR 30,1 family SMEs, satisfaction from the process cannot be achieved without taking cognizance of SEW (Umans et al, 2021;Calabr o et al, 2018;Gomez-Mejia et al, 2007).…”

Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

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Strategic transitions: unraveling the impact of socioemotional wealth and generational cohorts on succession planning in family SMEs

Bang,

Calabrò,

Valentino

2023

IJEBR

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PurposeThe complexity of succession in family firms is multifaceted and can sometimes lead to turbulence. While structured succession strategies offer a roadmap for smoother transitions, intergenerational differences in family small and medium-sized enterprises (SMEs) can lead to varied interpretations of an effective succession blueprint. This study synergizes the strategic entrepreneurship framework with the socioemotional wealth (SEW) perspective to probe into how formalized succession planning impacts performance in family SMEs. Furthermore, it delves into the mediating role of succession satisfaction, especially in family firms characterized by pronounced SEW and helmed by CEOs from different generational cohorts.Design/methodology/approachEmploying a comprehensive dataset from 1,833 global family businesses, this research utilizes bootstrapping regression models to discern the intertwined effects of mediator and moderator variables and their statistical significance.FindingsThe main findings suggest that succession satisfaction does matter for a good succession process and that succession plans work only in family firms with a high degree of SEW and that are led by older family CEOs (e.g. baby boomers).Practical implicationsThe results offer fresh perspectives on succession processes, with a particular focus on how to improve the satisfaction of millennial family CEOs.Originality/valueThe study uniquely combines strategic entrepreneurship and SEW to offer a holistic view of succession planning, highlighting satisfaction’s mediating role and SEW’s moderating influence. Additionally, it pioneers the incorporation of generational cohorts into the succession discourse.

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Section: Discussionmentioning

confidence: 99%

Section: Discussionmentioning

confidence: 99%

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Strategic transitions: unraveling the impact of socioemotional wealth and generational cohorts on succession planning in family SMEs

Bang,

Calabrò,

Valentino

2023

IJEBR

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“…In family firms, the strong and enduring relationships often result in situations where employees experience dual connections, creating positive relationships both with the family and with the firm (Madden et al 2017), which can contribute to reinforce the satisfaction experienced by family firms' employees. Based on the notion that family firms have a strong willingness to respect and keep the obligations and promises made to the employees, combined with the concerns to guarantee socioemotional wealth (Gómez-Mejía et al 2007), such as establishing and maintaining a reputation in the community, we argued that employees working in family companies showed higher levels of job satisfaction than employees of non-family companies.…”

Section: Job Satisfactionmentioning

confidence: 99%

Emotion Regulation and Job Satisfaction Levels of Employees Working in Family and Non-Family Firms

Pimentel

Pereira

2022

Administrative Sciences

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The purpose of this paper is to explore the differences between employees working in family and non-family firms regarding their emotion regulation and job satisfaction levels. Moreover, focusing on family firms, we assess the relationship between the employees’ emotion regulation and job satisfaction levels. The empirical evidence is provided by a sample of 178 Portuguese employees, 80 employees of family firms, and 98 non-family firms’ employees, who responded to a questionnaire that included emotion regulation and job satisfaction measures. All respondents work in small- and medium-sized private companies. Although the results do not confirm the first hypothesis, suggesting that employees working on family firms show higher levels of emotion regulation than those of non-family companies, the idea that employees of family companies show higher levels of job satisfaction than employees of non-family companies is confirmed (i.e., Hypothesis 2). Moreover, the results also support the third hypothesis, confirming that emotion regulation levels have a significant and positive relationship with the job satisfaction levels of employees working in family firms. This paper makes several contributions to the research literature by addressing two organizational aspects still under-addressed in the comparison between family and non-family firms, while pursuing to offer insights on the relationship between the emotion regulation and job satisfaction levels of employees working in family firms.

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“…The strong and enduring relationships in family firms result in situations where employees experience dual connections to the family and to the firm, creating one social exchange relationship with the family itself and another with the firm (Madden et al, 2017) which can contribute to reinforcing the psychological contract experienced by family firms' employees. Based on the notion that family firms have a strong willingness to respect and keep the obligations and promises made to the employees, allied with the principles of socioemotional wealth (G omez-Mejía et al, 2007), we propose that employees working in family companies show higher levels of psychological contract than employees of nonfamily companies.…”

Section: Psychological Contractmentioning

confidence: 99%

Employer branding and psychological contract in family and non-family firmsEmployer branding e contrato psicológico em empresas familiares e não familiaresEmployer branding y contrato psicológico en empresas familiares y no familiares

Pimentel

Almeida

Marques-Quinteiro

et al. 2021

MRJIAM

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Purpose The purpose of this paper is to assess differences between employees of family and non-family firms regarding their perceptions of employer branding and psychological contract levels. Moreover, focusing on family firms, the authors assess the relation between the employees’ perceptions of employer branding and the psychological contract levels. Design/methodology/approach The empirical evidence is provided by a sample of 165 Portuguese employees, 76 employees of family firms and 89 non-family firms’ employees, who responded to a questionnaire that included employer branding and psychological contract measures. All respondents study in small and medium-sized private companies. Findings The results confirmed the research hypotheses, suggesting that employees of family companies show higher perceptions of employer branding and psychological contract levels than employees of non-family companies. Results also reveal that the perceptions of employer branding are positively related to the psychological contract levels of the family firm’s employees. Originality/value This paper aims to contribute to the literature by addressing two contemporary organizational aspects yet under-addressed in the comparison between family and non-family firms while pursuing to offer insights on the relationship between the perceptions of employer branding and levels of the psychological contract of employees working in family firms.

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Psychological contract and social exchange in family firms

Cited by 14 publications

References 41 publications

Strategic transitions: unraveling the impact of socioemotional wealth and generational cohorts on succession planning in family SMEs

Strategic transitions: unraveling the impact of socioemotional wealth and generational cohorts on succession planning in family SMEs

Emotion Regulation and Job Satisfaction Levels of Employees Working in Family and Non-Family Firms

Employer branding and psychological contract in family and non-family firmsEmployer branding e contrato psicológico em empresas familiares e não familiaresEmployer branding y contrato psicológico en empresas familiares y no familiares

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