The Impact of Socioemotional Wealth on Decline-Stemming Strategies of Family Firms
基于利益相关者理论和社会情感财富文献，研究社会情感财富如何影响家族企业的衰退遏制策略，通过内容分析验证了该构念的二维测量，发现家族企业战略偏好取决于其最看重的社会情感财富类型。
Calling upon stakeholder theory and the socioemotional wealth (SEW) literature, we investigate how SEW impacts the decline-stemming strategies of family firms. Drawing on a recent conceptualization of SEW, we validate a two-dimensional measurement of the construct using a content analysis technique. Our empirical test on a sample of publicly traded family firms in need of turnaround suggests that the strategic preferences of family firms change depending upon the type of SEW (extended vs. restricted) the owning family values the most. The fine-grained characterization of SEW adopted in this study accounts for within-family-firm differences and thus enables the reconciliation of conflicting findings in the literature.