Family owners' fear of losing socio-emotional wealth: Implications for firm innovativeness

IF 7.4 2区管理学 Q1 BUSINESS Long Range Planning Pub Date : 2023-10-01 DOI:10.1016/j.lrp.2022.102263

Qilin Hu , Mathew Hughes , Paul Hughes

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引用次数: 4

Abstract

By integrating literature on behavioral agency theory and fear as an emotional lens, we develop a theoretical framework explaining how family owners' fear of losing specific dimensions of socio-emotional endowments influence family firm innovativeness. Our analysis of data from a two-phased, multi-respondent, matched survey (n = 407) at two different time points from family SMEs (n = 207) in manufacturing industries in Chongqing, China, shows that socio-emotional preferences, and the fear attached to losing specific endowments, activate or constrain innovativeness. Family owners' fear of losing family control and influence increases firm innovativeness, as do family owners' fear of losing guanxi (social bonds). However, family owners' fear of losing identification with the business among family members decreases firm innovativeness, as do family owners' fear of being unable to renew family bonds. By deepening current understanding of fear and the perceived danger of losing socio-emotional wealth as determinants of firm innovativeness, our findings offer important implications for theory and practice, correcting for the inattention to sentiments and emotional preferences family owners may or may not have towards specific socio-emotional dimensions in their strategic choices.

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家族所有者对失去社会情感财富的恐惧:对企业创新的影响

通过整合行为代理理论和恐惧作为情感视角的文献，我们建立了一个理论框架，解释家庭所有者对失去社会情感禀赋特定维度的恐惧如何影响家族企业创新。我们对中国重庆制造业家庭中小企业（n=207）在两个不同时间点进行的两阶段、多受访者匹配调查（n=407）的数据分析表明，社会情感偏好和对失去特定禀赋的恐惧激活或限制了创新。家庭所有人对失去家庭控制和影响力的恐惧增加了公司的创新能力，家庭所有人也担心失去关系（社会纽带）。然而，家庭所有者担心失去家庭成员对企业的认同感会降低公司的创新能力，家庭所有者也担心无法续签家庭债券。通过加深目前对恐惧和失去社会情感财富的危险的理解，我们的研究结果为理论和实践提供了重要启示，纠正了家庭所有者在战略选择中对特定社会情感维度的忽视和情感偏好。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Long Range Planning Multiple-

CiteScore

13.00

自引率

7.10%

发文量

期刊介绍： Long Range Planning (LRP) is an internationally renowned journal specializing in the field of strategic management. Since its establishment in 1968, the journal has consistently published original research, garnering a strong reputation among academics. LRP actively encourages the submission of articles that involve empirical research and theoretical perspectives, including studies that provide critical assessments and analysis of the current state of knowledge in crucial strategic areas. The primary user base of LRP primarily comprises individuals from academic backgrounds, with the journal playing a dual role within this community. Firstly, it serves as a platform for the dissemination of research findings among academic researchers. Secondly, it serves as a channel for the transmission of ideas that can be effectively utilized in educational settings. The articles published in LRP cater to a diverse audience, including practicing managers and students in professional programs. While some articles may focus on practical applications, others may primarily target academic researchers. LRP adopts an inclusive approach to empirical research, accepting studies that draw on various methodologies such as primary survey data, archival data, case studies, and recognized approaches to data collection.