Socio‐emotional Wealth Preservation and Alliance Success in Family Firms: The Role of Political Instability and Alliance Management Capability
研究了家族企业因担心失去控制权而保存社会情感财富，如何影响其联盟成功，并发现政治不稳定环境会增强这种影响。
Abstract Socio‐emotional wealth preservation (SEW‐P) can create a dilemma for family firms when seeking to establish strategic alliance: how to manage the need to establish strategic alliances aimed at obtaining complementary network‐based resources (the economic dimension) with the fear that such a move may jeopardize family control and domination (the SEW dimension). To address this dilemma (also labelled as a ‘mixed gamble’), we theorized that the concern to preserve SEW (i.e. SEW‐P) can contribute to family firms’ alliance success being dependent on the leverage of alliance management capability (AMC). We also propose that SEW‐P can act as an organizational cognitive enabler for AMC. Yet the positive association between SEW‐P and AMC will become stronger when family firms operate in a politically unstable environment. We tested these hypotheses using a unique dataset collected from 302 family firms operating in a politically unstable environment (the Libyan context), and the analysis lends support to our model and predictions. Overall, the study advances the alliance theories and family business literature by adding new insights that explain the effect of non‐financial priorities of family firms, and related contingencies, in predicting alliance success.