The relationship between socioemotional and financial wealth: Re-visiting family firm decision making

Abstract

Purpose: A growing volume of family firm literature has argued that the preservation of family socioemotional wealth takes precedence over the pursuit of financial goals. The purpose of this paper is to develop a conceptual framework that builds knowledge regarding the two-way relationship between socioemotional and financial forms of wealth, to develop a more complete theory of wealth concerns that may inform family firm decision-making. Design/methodology/approach: The authors conceptually examine contingencies affecting the relationship between financial and socioemotional wealth (in both causal directions). Findings: The authors predict when one form of wealth (socioemotional/financial) ..