Detecting the key role of the family in explaining corporate heritage use in family firms

Abstract

This paper looks at the socioemotional wealth (SEW) priorities to reveal how family involvement in the firms affects their use of heritage as a marketing signal, thereby leading to a corporate heritage identity. Built considering the distinction between extended and restricted family’s SEW framework, we find a direct relationship between the presence of a family CEO and the use of heritage, that is moderated by the family involvement in the board and by the generational stage. Our empirical analysis employs a quantitative approach applied to a sample of medium- and large-sized firms examined over the period from 2000 to 2016.