Value creation in privately held family businesses: The moderating role of socioemotional wealth.
This article examines value creation (VC) in the context of privately held family businesses using a value‐based management approach. Namely, this paper assesses the influence of five value drivers (operating profit margin, sales growth, income tax rate, investment rate, and leverage) on the VC of f...
| Main Authors: | , , |
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| Format: | info:eu-repo/semantics/article |
| Language: | English |
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Wiley
2023
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| Subjects: | |
| Online Access: | http://hdl.handle.net/10835/14888 |
| _version_ | 1789406535837810688 |
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| author | Martínez Romero, María José Rojo Ramírez, Alfonso Andrés Casado Belmonte, María Del Pilar |
| author_facet | Martínez Romero, María José Rojo Ramírez, Alfonso Andrés Casado Belmonte, María Del Pilar |
| author_sort | Martínez Romero, María José |
| collection | DSpace |
| description | This article examines value creation (VC) in the context of privately held family businesses using a value‐based management approach. Namely, this paper assesses the influence of five value drivers (operating profit margin, sales growth, income tax rate, investment rate, and leverage) on the VC of family firms, considering the moderating effect of socioemotional wealth (SEW). Evidence from a sample of 188 Spanish family firms indicates a positive moderating effect of SEW on the relationship between operating profit margin, sales growth, and investment rate, and VC, leading to increases in the value of firms. The results emphasize that the importance of SEW and its variations imply heterogeneous strategic behaviours among family firms, and that economic and emotional goals might be compatible. |
| format | info:eu-repo/semantics/article |
| id | oai:repositorio.ual.es:10835-14888 |
| institution | Universidad de Cuenca |
| language | English |
| publishDate | 2023 |
| publisher | Wiley |
| record_format | dspace |
| spelling | oai:repositorio.ual.es:10835-148882023-12-21T13:04:11Z Value creation in privately held family businesses: The moderating role of socioemotional wealth. Martínez Romero, María José Rojo Ramírez, Alfonso Andrés Casado Belmonte, María Del Pilar privately held family businesses socioemotional wealth value creation value drivers value-based management This article examines value creation (VC) in the context of privately held family businesses using a value‐based management approach. Namely, this paper assesses the influence of five value drivers (operating profit margin, sales growth, income tax rate, investment rate, and leverage) on the VC of family firms, considering the moderating effect of socioemotional wealth (SEW). Evidence from a sample of 188 Spanish family firms indicates a positive moderating effect of SEW on the relationship between operating profit margin, sales growth, and investment rate, and VC, leading to increases in the value of firms. The results emphasize that the importance of SEW and its variations imply heterogeneous strategic behaviours among family firms, and that economic and emotional goals might be compatible. 2023-12-21T13:04:11Z 2023-12-21T13:04:11Z 2019 info:eu-repo/semantics/article Martínez-Romero, M. J., Rojo-Ramírez, A. A., & Casado-Belmonte, M. P. (2020). Value creation in privately held family businesses: the moderating role of socioemotional wealth. Canadian Journal of Administrative Sciences, 37(3), 283–299. http://hdl.handle.net/10835/14888 doi.org/10.1002/cjas.1540 en https://onlinelibrary.wiley.com/doi/10.1002/cjas.1540 Attribution-NonCommercial-NoDerivatives 4.0 Internacional http://creativecommons.org/licenses/by-nc-nd/4.0/ info:eu-repo/semantics/openAccess Wiley |
| spellingShingle | privately held family businesses socioemotional wealth value creation value drivers value-based management Martínez Romero, María José Rojo Ramírez, Alfonso Andrés Casado Belmonte, María Del Pilar Value creation in privately held family businesses: The moderating role of socioemotional wealth. |
| title | Value creation in privately held family businesses: The moderating role of socioemotional wealth. |
| title_full | Value creation in privately held family businesses: The moderating role of socioemotional wealth. |
| title_fullStr | Value creation in privately held family businesses: The moderating role of socioemotional wealth. |
| title_full_unstemmed | Value creation in privately held family businesses: The moderating role of socioemotional wealth. |
| title_short | Value creation in privately held family businesses: The moderating role of socioemotional wealth. |
| title_sort | value creation in privately held family businesses: the moderating role of socioemotional wealth. |
| topic | privately held family businesses socioemotional wealth value creation value drivers value-based management |
| url | http://hdl.handle.net/10835/14888 |
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