More Bang for Their Buck: Why (and When) Family Firms Better Leverage Corporate Social Responsibility
研究发现，家族企业因追求社会情感财富而积累的声誉、利益相关者关系和长期导向等资源，能帮助它们更有效地利用象征性和实质性企业社会责任来分别提升短期和长期绩效。
Family firms take different strategic actions because of their desire to grow and preserve socioemotional wealth (SEW), but pursuing SEW also generates what we call SEW resources that deliver advantages in certain contexts. We develop and test this idea with respect to corporate social responsibility (CSR). We theorize that SEW resources such as reputation, strong stakeholder relationships, and long-term orientation help family firms better leverage symbolic CSR to enhance short-term firm performance and better leverage substantive CSR to enhance long-term firm performance. Regression analyses on a 20-year panel of S& P 500 firms provide supportive evidence. Findings indicate that family firms not only “do it differently” to preserve SEW; they sometimes “do it better” because of SEW.