Socioemotional wealth in volatile, uncertain, complex, and ambiguous contexts: The case of family firms in Latin America and the Caribbean

IF 9.5 1区 管理学 Q1 BUSINESS
Luis R. Gomez-Mejia , Anabel Mendoza-Lopez , Cristina Cruz , Patricio Duran , Herman Aguinis
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引用次数: 0

Abstract

The paradoxical nature of Latin America and the Caribbean (LAC) provides unique opportunities to advance management theory. Focusing on a dominant theoretical framework, Socioemotional Wealth (SEW), we argue that contextual features of LAC, namely the concept of extended family and the volatile, uncertain, complex, and ambiguous (VUCA) environment, make family businesses “SEW intensive” (i.e., high degree of preservation and enhancement of various aspects of SEW) and “SEW sensitive” (i.e., high degree of firm responsiveness to external factors that are SEW-relevant). In turn, these SEW features influence decision making and approaches to dealing with performance hazards and venturing risks. While we use LAC as a specific context, our theorizing and 12 propositions are also relevant to guide future research on other regions of the world, such as parts of Africa, Asia, and the Middle East, where the concept of extended family is widespread and a VUCA environment is also predominant. Overall, we use the characteristics of the LAC context to challenge existing assumptions, advance theory, and guide future empirical research on family businesses.

动荡、不确定、复杂和模糊环境中的社会情感财富:拉丁美洲和加勒比地区家族企业的案例
拉丁美洲和加勒比地区(LAC)的矛盾性质为推进管理理论提供了独特的机遇。我们以社会情感财富(SEW)这一主流理论框架为重点,认为拉加地区的背景特征,即大家庭的概念和动荡、不确定、复杂和模糊(VUCA)的环境,使家族企业成为 "SEW密集型"(即高度维护和增强社会情感财富的各个方面)和 "SEW敏感型"(即企业对与社会情感财富相关的外部因素的高度反应能力)。反过来,这些 SEW 特征又会影响决策以及处理业绩危害和创业风险的方法。虽然我们将拉丁美洲和加勒比地区作为一个特定的背景,但我们的理论研究和 12 个命题同样适用于指导世界其他地区的未来研究,如非洲、亚洲和中东的部分地区,在这些地区,大家庭的概念非常普遍,VUCA 环境也非常普遍。总之,我们利用拉丁美洲和加勒比地区的特点来挑战现有的假设,推进理论的发展,并指导未来有关家族企业的实证研究。
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来源期刊
CiteScore
11.40
自引率
19.40%
发文量
53
期刊介绍: The Journal of Family Business Strategy takes an international perspective, providing a platform for research that advances our understanding of family businesses. Welcoming submissions across various dimensions, the journal explores the intricate interplay between family dynamics and business operations, contributing new insights to this specialized field.
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