Socioemotional Wealth and Proactive Stakeholder Engagement
Why Family–Controlled Firms Care More about their Stakeholders
Bibliographic Data
| ID | 23318599 |
|---|---|
| Authors | Carmelo Cennamo (0000-0003-1050-7713, Bocconi University, corresponding author), Pascual Berrone (0000-0003-2515-3890, Strategic Management in the Department of Strategic Management, Iese Business School, University of Navarra, Madrid, Spain., corresponding author), Cristina Cruz (0000-0002-3011-2607, Entrepreneurship in the Instituto de Empresa, Madrid, Spain., corresponding author), Luis R Gomez-Mejia (0000-0001-6049-7950, Texas A&M University, corresponding author), Luis R Gomez–Mejia (Texas A&M University) |
| Year | 2012 |
| Volume | 36 |
| Issue | 6 |
| Pages | 1153-1173 |
| Publication date | 2012-11-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Entrepreneurship Theory and Practice (JOURNAL) |
| Journal identifiers | ISSN: 1042-2587 • E-ISSN: 1540-6520 |
| Publisher | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1111/j.1540-6520.2012.00543.x |
| OpenAlex | W1996111496 |
| Language | EN |
| Citations received | 59 |
| References cited | 102 |
While family business research has prominently recognized that family firms are motivated by nonfinancial factors, the literature has remained relatively silent about whether or not these firms are more likely than others to engage actively with their stakeholders, who often have nonpecuniary demands. This paper argues that family firms are more prone to adopt proactive stakeholder engagement (PSE) activities because by doing so they preserve and enhance their socioemotional wealth (SEW). We explore the impact of the different dimensions of SEW on PSE and identify distinctive logics that explain the adoption of such practices. Finally, we offer a set of topics for future studies.
Business · Family business · Political science · Public relations · Set (abstract data type) · Socioemotional selectivity theory · Stakeholder · Stakeholder engagement · Corporate Finance and Governance · Entrepreneurship Studies and Influences · Family Business Performance and Succession · Marketing · Psychology
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| Unique citing works | 59 |
|---|---|
| Citations per year | 4,54 |
| Citation span | 2013 - 2026 (14) |
| Citation velocity | current |
| Highly cited | No |
| Citation types | Neutral: 57 |