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Herrero et al. JFBS Is blood thicker than water - family social capital - ACCEPTED.docx (168.16 kB)

Is blood thicker than water? Exploring the impact of family firms’ familial social relations with other firms within their industries

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journal contribution
posted on 2024-03-26, 16:01 authored by I Herrero, M Hughes, B Larrañeta

The benefits or drawbacks of family social capital for family firm performance are hotly debated among scholars. Most of the debate adopts an internal view of family social capital and focuses on familial relations taking place within the boundaries of the family firm or the family business group. However, overlooked in this debate is the role of potentially valuable family bonds held with family members outside the family firm and the family business group's boundaries—family members working for other firms without ownership connections. We strive to advance this debate by placing the focus on a new category of family social capital originating from social relations with family members working in other firms in the same industry. In so doing, we theoretically and empirically tease out how the number of ties with family members located in other independent firms within the boundaries of a given industry affects family firms’ performance. We also account for the moderating effect on this baseline relationship of the number of ties with members of other firms not bearing a family connection. In so doing, we add new insights to address the paradox among family firm studies about why seemingly vital social relations only sometimes matter for family firm performance.

Funding

This work has been financed by the Junta de Andalucía (Spain), through the Excellence Project SEJ-6658 and by the Ministry of Economy and Competence of Spain through Project ECO2016-75047-P.

History

Author affiliation

School of Business, University of Leicester

Version

  • AM (Accepted Manuscript)

Published in

Journal of Family Business Strategy

Volume

13

Issue

3

Pagination

100471

Publisher

Elsevier BV

issn

1877-8585

eissn

1877-8593

Copyright date

2022

Available date

2024-03-26

Language

en

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