Extending the Socioemotional Wealth Perspective: A Look at the Dark Side

We extend the socioemotional wealth (SEW) perspective by arguing that SEW can be negatively associated with proactive stakeholder engagement (PSE). We further suggest that the SEW dimensions can be associated with positive or negative valence. Lastly, we propose that negatively valenced SEW dimensio...

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Bibliographic Details
Published in:Entrepreneurship theory and practice 2012-11, Vol.36 (6), p.1175-1182
Main Authors: Kellermanns, Franz W., Eddleston, Kimberly A., Zellweger, Thomas M.
Format: Article
Language:English
Subjects:
Analysis
Conceptualization
Economic aspects
Economic behaviour
Endowments
Entrepreneurs
Entrepreneurship
Family
Family corporations
Family firms
Family owned businesses
Family-owned business enterprises
Investor relations
Management
Shareholder relations
Socioeconomic status
Socioemotional selectivity theory
Stakeholder
Stakeholders
Studies
Wealth
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Summary:We extend the socioemotional wealth (SEW) perspective by arguing that SEW can be negatively associated with proactive stakeholder engagement (PSE). We further suggest that the SEW dimensions can be associated with positive or negative valence. Lastly, we propose that negatively valenced SEW dimensions lead to family-centric behavior, which negatively affects PSE. This multifaceted conceptualization of SEW allows us to explain how family firms can partake in harmful stakeholder behaviors despite having seemingly strong SEW. Our paper suggests that SEW can be either an affective endowment or burden for family firms and their constituents. [PUBLICATION ABSTRACT]
ISSN:1042-2587
1540-6520
DOI:10.1111/j.1540-6520.2012.00544.x