The close identification of the family with the firm, which makes family members sensitive to the external image they project to stakeholders and explains why FBs exhibit higher levels of corporate responsibility and community citizenship.
Published in Chapter:
The Quadruple Sustainability: Economic, Social, Environmental, and Family
Beatriz Forés (Universitat Jaume I, Spain), José Antonio Clemente Almendros (Universidad Internacional de La Rioja, Spain), and José María Fernández Yáñez (Universitat Jaume I, Spain)
Copyright: © 2020
|Pages: 21
DOI: 10.4018/978-1-7998-1655-3.ch012
Abstract
This chapter analyzes the relationship between ownership structure and sustainability performance adopting the socioemotional wealth approach. This work extends previous literature on the topic by considering the three dimensions of sustainability performance: economic, social, and environmental. Analysis with the matching technique revealed that being a family firm has a positive effect on economic profitability, growth sales, employees training and commitment, investment in R&D, environmental commitment, and cooperation agreements with external partners. The authors use a sample of Spanish firms operating in the tourism industry.