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Balancing natural environmental concerns of internal and external stakeholders in family and non-family businesses

Author

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  • Neubaum, Donald O.
  • Dibrell, Clay
  • Craig, Justin B.

Abstract

While researches have long suggested that firms must be attentive to their key stakeholders, the question of how attention to different stakeholders may have different benefits for different firms has not been well addressed. This is especially true in the case of family businesses, which confront a unique set of stakeholder challenges, and socioemotional goals not confronted by non-family firms. In this study, we investigate the effect of these competing demands across family and non-family firms. We argue that while being attentive to both internal and external stakeholders is important to firm performance in family and non-family firms, family firms can benefit more when they match their concern for natural environmental stakeholders with a demonstration of concern for their employees. By effectively leveraging the power of these critical internal stakeholders, family firms can gain competitive advantages over non-family firms as it is through these internal stakeholders which the demands of external stakeholder are often met.

Suggested Citation

  • Neubaum, Donald O. & Dibrell, Clay & Craig, Justin B., 2012. "Balancing natural environmental concerns of internal and external stakeholders in family and non-family businesses," Journal of Family Business Strategy, Elsevier, vol. 3(1), pages 28-37.
  • Handle: RePEc:eee:fambus:v:3:y:2012:i:1:p:28-37
    DOI: 10.1016/j.jfbs.2012.01.003
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    References listed on IDEAS

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    Cited by:

    1. Bee, Colleen & Neubaum, Donald O., 2014. "The role of cognitive appraisal and emotions of family members in the family business system," Journal of Family Business Strategy, Elsevier, vol. 5(3), pages 323-333.
    2. repec:kap:jbuset:v:144:y:2017:i:1:d:10.1007_s10551-015-2848-1 is not listed on IDEAS
    3. repec:eee:fambus:v:9:y:2018:i:1:p:33-43 is not listed on IDEAS
    4. Julie Dekker & Tim Hasso, 2016. "Environmental Performance Focus in Private Family Firms: The Role of Social Embeddedness," Journal of Business Ethics, Springer, vol. 136(2), pages 293-309, June.
    5. repec:ibn:ibrjnl:v:10:y:2017:i:8:p:80-92 is not listed on IDEAS
    6. Dawson, Alexandra & Mussolino, Donata, 2014. "Exploring what makes family firms different: Discrete or overlapping constructs in the literature?," Journal of Family Business Strategy, Elsevier, vol. 5(2), pages 169-183.

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