Dynamic capabilities, preservation of socioemotional wealth, and family firm performance
This study examines the performance of family businesses through the theoretical lenses of dynamic capabilities and socioemotional wealth. A conceptual model is proposed, in which socioemotional wealth moderates the relationship between dynamic capabilities and family firm performance. The research...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-03-01
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| Series: | Journal of Innovation & Knowledge |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2444569X25000186 |
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| author | Felipe Hernández-Perlines Luis Araya-Castillo Mercedes Castro-Nuño |
| author_facet | Felipe Hernández-Perlines Luis Araya-Castillo Mercedes Castro-Nuño |
| author_sort | Felipe Hernández-Perlines |
| collection | DOAJ |
| description | This study examines the performance of family businesses through the theoretical lenses of dynamic capabilities and socioemotional wealth. A conceptual model is proposed, in which socioemotional wealth moderates the relationship between dynamic capabilities and family firm performance. The research employs partial least squares structural equation modeling (PLS-SEM), a second-generation multivariate analysis technique, to analyze data and test hypotheses. The findings reveal that dynamic capabilities positively influence family firm performance, with innovation emerging as the most impactful dynamic capability. Additionally, socioemotional wealth not only directly enhances performance but also acts as a moderator, strengthening the relationship between dynamic capabilities and performance. This study makes two key contributions. First, it advances the understanding of how dynamic capabilities and socioemotional wealth shape family firm performance. Second, it underscores the pivotal role of socioemotional wealth in amplifying the effects of dynamic capabilities on performance. These insights have significant practical implications for family firms, emphasizing the importance of strategically managing both dynamic capabilities and socioemotional wealth to drive performance and ensure long-term sustainability. |
| format | Article |
| id | doaj-art-086deb78679d45c2acfb7757da57e065 |
| institution | Kabale University |
| issn | 2444-569X |
| language | English |
| publishDate | 2025-03-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Journal of Innovation & Knowledge |
| spelling | doaj-art-086deb78679d45c2acfb7757da57e0652025-02-11T04:35:17ZengElsevierJournal of Innovation & Knowledge2444-569X2025-03-01102100667Dynamic capabilities, preservation of socioemotional wealth, and family firm performanceFelipe Hernández-Perlines0Luis Araya-Castillo1Mercedes Castro-Nuño2University of Castilla La Mancha, Calle San Pedro Mártir, 7. 45002 Toledo, Spain; Corresponding author.School of Business, Universidad Adolfo Ibáñez, Av. Presidente Errázuriz 3485, Las Condes, Santiago, ChileUniversidad de Sevilla, Avenida Ramón y Cajal, 1. 41018 Sevilla, SpainThis study examines the performance of family businesses through the theoretical lenses of dynamic capabilities and socioemotional wealth. A conceptual model is proposed, in which socioemotional wealth moderates the relationship between dynamic capabilities and family firm performance. The research employs partial least squares structural equation modeling (PLS-SEM), a second-generation multivariate analysis technique, to analyze data and test hypotheses. The findings reveal that dynamic capabilities positively influence family firm performance, with innovation emerging as the most impactful dynamic capability. Additionally, socioemotional wealth not only directly enhances performance but also acts as a moderator, strengthening the relationship between dynamic capabilities and performance. This study makes two key contributions. First, it advances the understanding of how dynamic capabilities and socioemotional wealth shape family firm performance. Second, it underscores the pivotal role of socioemotional wealth in amplifying the effects of dynamic capabilities on performance. These insights have significant practical implications for family firms, emphasizing the importance of strategically managing both dynamic capabilities and socioemotional wealth to drive performance and ensure long-term sustainability.http://www.sciencedirect.com/science/article/pii/S2444569X25000186C88D21M21 |
| spellingShingle | Felipe Hernández-Perlines Luis Araya-Castillo Mercedes Castro-Nuño Dynamic capabilities, preservation of socioemotional wealth, and family firm performance Journal of Innovation & Knowledge C88 D21 M21 |
| title | Dynamic capabilities, preservation of socioemotional wealth, and family firm performance |
| title_full | Dynamic capabilities, preservation of socioemotional wealth, and family firm performance |
| title_fullStr | Dynamic capabilities, preservation of socioemotional wealth, and family firm performance |
| title_full_unstemmed | Dynamic capabilities, preservation of socioemotional wealth, and family firm performance |
| title_short | Dynamic capabilities, preservation of socioemotional wealth, and family firm performance |
| title_sort | dynamic capabilities preservation of socioemotional wealth and family firm performance |
| topic | C88 D21 M21 |
| url | http://www.sciencedirect.com/science/article/pii/S2444569X25000186 |
| work_keys_str_mv | AT felipehernandezperlines dynamiccapabilitiespreservationofsocioemotionalwealthandfamilyfirmperformance AT luisarayacastillo dynamiccapabilitiespreservationofsocioemotionalwealthandfamilyfirmperformance AT mercedescastronuno dynamiccapabilitiespreservationofsocioemotionalwealthandfamilyfirmperformance |