Socioemotional Wealth in Family Firms: Theoretical Dimensions, Socioemotional Wealth Perspective, and Empirical Evidence in Support of the Socioemotional Approach | ||
| The Academic Journal of Contemporary Commercial Research | ||
| Article 1, Volume 3, Issue 3, September 2023, Pages 1-20 PDF (392.26 K) | ||
| Document Type: Original Article | ||
| DOI: 10.21608/ajccr.2023.318181 | ||
| Authors | ||
| Lubna Abul-Ela Mohamed Salem* 1; Abd-Elazez Hashem2 | ||
| 1Faculty of Economic and Management, 6 of October University, Giza, Egypt | ||
| 2Faculty of Commerce, Cairo University, Giza, Egypt | ||
| Abstract | ||
| The concept of socioemotional wealth (SEW) has gained significant attention in the field of family business research. It refers to the non-financial aspects of family firms, such as emotional attachment, family identity, and socio-economic goals. SEW is considered a critical factor in the long-term survival and success of family firms. This paper provides an overview of the theoretical dimensions of SEW, including its antecedents, consequences, and mechanisms. It also discusses various assessment approaches for measuring SEW, such as surveys, interviews, and case studies. Finally, the paper outlines an agenda for future research on SEW in family firms, highlighting areas such as cross-cultural differences in SEW, the role of non-family employees in SEW creation and preservation, and the impact of technology on SEW. Overall, this paper aims to contribute to a better understanding of SEW and its importance for family firms' sustainability and growth. | ||
| Keywords | ||
| Family firms; Socioemotional wealth; SEW dimensions | ||
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