Title
The entrepreneurial orientation-performance relationship in private family firms : the moderating role of socioemotional wealth The entrepreneurial orientation-performance relationship in private family firms : the moderating role of socioemotional wealth
Author
Faculty/Department
Faculty of Applied Economics
Publication type
article
Publication
Dordrecht ,
Subject
Economics
Source (journal)
Small business economics: an international journal. - Dordrecht
Volume/pages
43(2014) :1 , p. 39-55
ISSN
0921-898X
ISI
000335670200004
Carrier
E
Target language
English (eng)
Full text (Publishers DOI)
Affiliation
University of Antwerp
Abstract
Drawing on socioemotional wealth (SEW) literature, this paper revisits the established entrepreneurial orientation (EO)-performance relationship in a family business context. The main idea in entrepreneurship literature is that EO leads to increased firm performance. We question this logic in a family business context because family related non-financial goals, like SEW, may prevent the firm to reap the fruits of their entrepreneurial efforts. Specifically, we argue that SEW engenders inefficiencies that place constraints on the realization of the benefits of entrepreneurship. Therefore, we propose that a high level of SEW preservation hinders the transmission of the family firm's EO into positive performance effects. To test this hypothesis, an empirical study was developed using a sample of 232 Belgian private family firms. Robust linear regression analysis reveals that the positive effect of EO on financial performance decreases as the level of SEW preservation increases.
E-info
https://repository.uantwerpen.be/docman/iruaauth/2b5b79/fdd6fe53506.pdf
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