Enhancing performance in family businesses through socio-emotional wealth: The role of resilience

Abstract

This paper explores the role of resilience in the relationship between socioemotional wealth (SEW) and organizational performance in family businesses. Using data from 67 family firms in an emerging economy, the study develops and tests a structural model that reveals resilience as a crucial mediator between SEW and both social and economic performance. The findings demonstrate that SEW enhances resilience, which in turn improves organizational performance by enabling businesses to confront challenges and capitalize on opportunities. These contributions offer valuable management tools for family firms, enhancing their ability to absorb, adapt, recover, and thrive in the face of crises by leveraging their emotional assets.