Socio-emotional wealth and corporate responses to environmental hostility: Are family firms more stakeholder oriented?

Isabel-Maria García-Sánchez, Julia Martín-Moreno, Sana Khan, Nazim Hussain*

*Bijbehorende auteur voor dit werk

OnderzoeksoutputAcademicpeer review

28 Citaten (Scopus)
59 Downloads (Pure)


Do family firms care more for different stakeholders than nonfamily firms when operating in a hostile business environment? This study addresses this question and fills the existing void in family business research. It shows that family-controlled firms adopt corporate social responsibility strategies and balance the demands of internal and external interest groups to preserve their socio-emotional wealth while facing fierce competition, resource scarcity, and penurious economic conditions. More specifically, our analysis of an international sample of 956 listed firms from 2006 to 2014 reveals that family firms show a higher level of corporate social responsibility (CSR) performance and better stakeholder orientation than nonfamily firms. Our findings are useful for managers, policymakers, and responsible investors.
Originele taal-2English
Pagina's (van-tot)1003-1018
Aantal pagina's16
TijdschriftBusiness Strategy and the Environment
Nummer van het tijdschrift2
Vroegere onlinedatum5-okt.-2020
StatusPublished - feb.-2021

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