| Title | Family social capital as a mediator between socioemotional wealth and entrepreneurial orientation: evidence from Mexican SMEs |
|---|---|
| ID_Doc | 77014 |
| Authors | Ramírez-Solis, ER; Mojarro-Durán, B; Baños-Monroy, VI |
| Title | Family social capital as a mediator between socioemotional wealth and entrepreneurial orientation: evidence from Mexican SMEs |
| Year | 2024 |
| Published | Management Research-The Journal Of The Iberoamerican Academy Of Management, 22, 2 |
| Abstract | PurposeThe type of social capital among families involved in business, or family social capital, has both positive and negative effects on family firms. This paper aims to investigate the mediating role of social relationships of family business members between socioemotional wealth (SEW) and firms' entrepreneurial orientation. Design/methodology/approachThe authors applied a survey conducted in the four main cities in Mexico. The sample consisted of 360 small and medium enterprise (SMEs). This study's research framework and hypothesis were tested using regression analysis and the structural equation modeling technique. FindingsThis study finds that not only does SEW strongly influence the entrepreneurial orientation of family firms, but this influence is also mediated by the capability of such families to develop their social capital. Research limitations/implicationsThe results show the perspective of one person in the company. Though it is the person with the highest rank and presumably the person who thoroughly knows the company, there is always a possibility of bias, which may inflate the results presented in this paper. Practical implicationsBased on this study's results, family firms should continuously improve their entrepreneurial abilities to achieve sustainable competitive advantage. In addition, their unique family-related characteristics further enhance these strategic approaches' positive effects on relational capital development. Originality/valueThis work contributes to the academic literature on entrepreneurship and social capital. As a mediator between SEW and entrepreneurial orientation, family relational capital has been under-researched. The results of this study reveal significant implications for networking management and relational capital strategies for SMEs. |
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