Family firms are motivated by financial, but also non-financial factors like the preservation and enhancement of the stock of affect related value, or socioemational wealth (SEW), including identity, the ability to exercise family influence, and the perpetuation of family dynasty. This paper argues that family firms are more prone to engage actively with their stakeholders, who often have non-pecuniary demands, because by doing so they preserve and enhance their socioemotional wealth. We identify distinctive logics that explain the adoption of such practices and offer a set of topics for future studies.

Socioemotional Wealth and Proactive Stakeholder Engagement: Why Family-Controlled Firms Care More About Their Stakeholders

CENNAMO, CARMELO;
2012

Abstract

Family firms are motivated by financial, but also non-financial factors like the preservation and enhancement of the stock of affect related value, or socioemational wealth (SEW), including identity, the ability to exercise family influence, and the perpetuation of family dynasty. This paper argues that family firms are more prone to engage actively with their stakeholders, who often have non-pecuniary demands, because by doing so they preserve and enhance their socioemotional wealth. We identify distinctive logics that explain the adoption of such practices and offer a set of topics for future studies.
2012
Cennamo, Carmelo; P., Berrone; C., Cruz; L., Gomez Mejia
File in questo prodotto:
Non ci sono file associati a questo prodotto.

I documenti in IRIS sono protetti da copyright e tutti i diritti sono riservati, salvo diversa indicazione.

Utilizza questo identificativo per citare o creare un link a questo documento: https://hdl.handle.net/11565/3738649
 Attenzione

Attenzione! I dati visualizzati non sono stati sottoposti a validazione da parte dell'ateneo

Citazioni
  • ???jsp.display-item.citation.pmc??? ND
  • Scopus 474
  • ???jsp.display-item.citation.isi??? 419
social impact