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What is Socioemotional Wealth

Chapter 10
Handbook of Research on the Strategic Management of Family Businesses
Socioemotional wealth is a non-financial goal of a family firm that deals with the affective endowment of family members working in the family business.
Published in Chapter:
Socioemotional Wealth and Its Effect on Family Firm Performance
Juili Milind Ballal (Indian Institute of Technology, Bombay, India) and Varadraj Bapat (Indian Institute of Technology, Bombay, India)
Copyright: © 2020 |Pages: 27
DOI: 10.4018/978-1-7998-2269-1.ch010
Abstract
Family firm is the oldest and the most prevalent type of business entity in the world. A unique feature that sets apart a family business from its non-family counterparts is the Socioemotional Wealth (SEW). Preservation of SEW among family firms is of paramount importance. Various strategic choices including need for innovation and internationalization are influenced by SEW. Studies also show that a family firm's SEW plays an influential role in the firm performance. The This chapter outlines the different scales used to measure SEW, checks the reliability and internal consistency of the existing REI scale in Indian context, investigates the heterogeneity of family firms and understands the effect of different SEW dimensions on firm performance. The findings reveal that SEW has a significant positive effect on firm performance. Contributions of the study and scope for future research are also discussed.
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More Results
Chapter 17
Strategic Behavior in Family Firms: A Theoretical Insight Into Dynamic Familiness
In the family business represents the family affective endowments that family members trust in the company. It manifests itself in need for the ownership of the company to remain in the family and to maintain the well-being of family members throughout the generations.
Published in Chapter: Strategic Behavior in Family Firms: A Theoretical Insight Into Dynamic Familiness; From: Handbook of Research on Entrepreneurial Leadership and Competitive Strategy in Family Business
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Chapter 14
Reputational Transfer Between the Leader and His Corporation in Spain: Does the Family Matter?
Non-financial aspects of the firm that meet the family’s affective needs, such as identity, the ability to exercise family influence, and the perpetuation of the family dynasty.
Published in Chapter: Reputational Transfer Between the Leader and His Corporation in Spain: Does the Family Matter?; From: Handbook of Research on Entrepreneurial Leadership and Competitive Strategy in Family Business
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Chapter 11
Preference Reversal Under Vulnerability: An Application of Neural Networks in Mexican Family Firms
Noneconomic utility gains and affective endowments that families obtain form their business or from their controlling position.
Published in Chapter: Preference Reversal Under Vulnerability: An Application of Neural Networks in Mexican Family Firms; From: Handbook of Research on the Strategic Management of Family Businesses
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Chapter 7
Technological Innovation in Family Firms
It represents the nonfinancial aspects of the firm and may come in a variety of related forms, such as the family members’ control over strategic decisions and their identification with the firm.
Published in Chapter: Technological Innovation in Family Firms; From: Competitiveness, Organizational Management, and Governance in Family Firms
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Chapter 12
The Quadruple Sustainability: Economic, Social, Environmental, and Family
Socioemotional endowment of FBs which might drive the firm to make strategic choices that cannot be explained by applying economic logic or from a risk-averse financial perspective.
Published in Chapter: The Quadruple Sustainability: Economic, Social, Environmental, and Family; From: Competitiveness, Organizational Management, and Governance in Family Firms
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Chapter 7
How Family Involvement in Management Affects the Innovative Behavior of Private Firms: The Moderating Role of Technological Collaboration with External Partners
Nascent theory in the family business field that refers to non-economic aspects that meet the diverse emotional needs of the owned family.
Published in Chapter: How Family Involvement in Management Affects the Innovative Behavior of Private Firms: The Moderating Role of Technological Collaboration with External Partners; From: Handbook of Research on the Strategic Management of Family Businesses
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Chapter 9
Affective and Emotional Determinants of Entrepreneurial Orientation Within Family Firms
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