Dynamic capabilities, preservation of socioemotional wealth, and family firm performance

IF 15.6 1区管理学 Q1 BUSINESS

Journal of Innovation & Knowledge Pub Date : 2025-02-10 DOI:10.1016/j.jik.2025.100667

Felipe Hernández-Perlines , Luis Araya-Castillo , Mercedes Castro-Nuño

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Abstract

This study examines the performance of family businesses through the theoretical lenses of dynamic capabilities and socioemotional wealth. A conceptual model is proposed, in which socioemotional wealth moderates the relationship between dynamic capabilities and family firm performance. The research employs partial least squares structural equation modeling (PLS-SEM), a second-generation multivariate analysis technique, to analyze data and test hypotheses. The findings reveal that dynamic capabilities positively influence family firm performance, with innovation emerging as the most impactful dynamic capability. Additionally, socioemotional wealth not only directly enhances performance but also acts as a moderator, strengthening the relationship between dynamic capabilities and performance. This study makes two key contributions. First, it advances the understanding of how dynamic capabilities and socioemotional wealth shape family firm performance. Second, it underscores the pivotal role of socioemotional wealth in amplifying the effects of dynamic capabilities on performance. These insights have significant practical implications for family firms, emphasizing the importance of strategically managing both dynamic capabilities and socioemotional wealth to drive performance and ensure long-term sustainability.

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动态能力、社会情感财富的保存与家族企业绩效

本研究透过动态能力与社会情感财富的理论视角，检视家族企业绩效。本文提出了社会情感财富调节动态能力与家族企业绩效关系的概念模型。本研究采用第二代多元分析技术偏最小二乘结构方程模型（PLS-SEM）进行数据分析和假设检验。研究发现，动态能力对家族企业绩效有正向影响，其中创新能力对家族企业绩效影响最大。此外，社会情感财富不仅能直接提高绩效，还能起到调节作用，强化动态能力与绩效之间的关系。这项研究做出了两个关键贡献。首先，它促进了对动态能力和社会情感财富如何影响家族企业绩效的理解。其次，它强调了社会情感财富在放大动态能力对绩效的影响方面的关键作用。这些见解对家族企业具有重要的实际意义，强调了对动态能力和社会情感财富进行战略管理的重要性，以推动绩效并确保长期可持续性。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of Innovation & Knowledge Multiple-

CiteScore

16.10

自引率

12.70%

发文量

118

审稿时长

37 days

期刊介绍： The Journal of Innovation and Knowledge (JIK) explores how innovation drives knowledge creation and vice versa, emphasizing that not all innovation leads to knowledge, but enduring innovation across diverse fields fosters theory and knowledge. JIK invites papers on innovations enhancing or generating knowledge, covering innovation processes, structures, outcomes, and behaviors at various levels. Articles in JIK examine knowledge-related changes promoting innovation for societal best practices. JIK serves as a platform for high-quality studies undergoing double-blind peer review, ensuring global dissemination to scholars, practitioners, and policymakers who recognize innovation and knowledge as economic drivers. It publishes theoretical articles, empirical studies, case studies, reviews, and other content, addressing current trends and emerging topics in innovation and knowledge. The journal welcomes suggestions for special issues and encourages articles to showcase contextual differences and lessons for a broad audience. In essence, JIK is an interdisciplinary journal dedicated to advancing theoretical and practical innovations and knowledge across multiple fields, including Economics, Business and Management, Engineering, Science, and Education.