IDEAS home Printed from https://ideas.repec.org/a/eee/fambus/v7y2016i3p133-148.html
   My bibliography  Save this article

Measuring socioemotional wealth in family-owned and -managed firms: A validation and short form of the FIBER Scale

Author

Listed:
  • Hauck, Jana
  • Suess-Reyes, Julia
  • Beck, Susanne
  • Prügl, Reinhard
  • Frank, Hermann

Abstract

Socioemotional wealth (SEW) is a key concept in family business research. The proposed FIBER scale as a direct and multidimensional measure of SEW is therefore a significant research achievement. We refined the scale by validating and thereby shortening it, using a sample of 216 family-owned and -managed firms with up to 500 employees in the German-speaking area. The validation reveals different degrees of validity across the five FIBER dimensions, resulting in a revised short form called the REI scale that comprises nine items that measure the core affective endowments a family may derive from controlling a firm. Based on our empirical validation, we discuss theoretical implications for the further development of a sound SEW measure.

Suggested Citation

  • Hauck, Jana & Suess-Reyes, Julia & Beck, Susanne & Prügl, Reinhard & Frank, Hermann, 2016. "Measuring socioemotional wealth in family-owned and -managed firms: A validation and short form of the FIBER Scale," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 133-148.
    • Handle: RePEc:eee:fambus:v:7:y:2016:i:3:p:133-148
    DOI: 10.1016/j.jfbs.2016.08.001
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S1877858515300218
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jfbs.2016.08.001?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Henry Kaiser, 1958. "The varimax criterion for analytic rotation in factor analysis," Psychometrika, Springer;The Psychometric Society, vol. 23(3), pages 187-200, September.
    2. Isabelle Le Breton–Miller & Danny Miller, 2013. "Socioemotional Wealth across the Family Firm Life Cycle: A Commentary on “Family Business Survival and the Role of Boardsâ€," Entrepreneurship Theory and Practice, , vol. 37(6), pages 1391-1397, November.
    3. Lee Cronbach, 1951. "Coefficient alpha and the internal structure of tests," Psychometrika, Springer;The Psychometric Society, vol. 16(3), pages 297-334, September.
    4. Sanjay Goel & Wim Voordeckers & Anita van Gils & Jeroen van den Heuvel, 2013. "CEO's empathy and salience of socioemotional wealth in family SMEs -- The moderating role of external directors," Entrepreneurship & Regional Development, Taylor & Francis Journals, vol. 25(3-4), pages 111-134, April.
    5. Jess H. Chua & James J. Chrisman & Alfredo De Massis, 2015. "A Closer Look at Socioemotional Wealth: Its Flows, Stocks, and Prospects for Moving Forward," Entrepreneurship Theory and Practice, , vol. 39(2), pages 173-182, March.
    6. Debicki, Bart J. & Kellermanns, Franz W. & Chrisman, James J. & Pearson, Allison W. & Spencer, Barbara A., 2016. "Development of a socioemotional wealth importance (SEWi) scale for family firm research," Journal of Family Business Strategy, Elsevier, vol. 7(1), pages 47-57.
    7. John Horn, 1965. "A rationale and test for the number of factors in factor analysis," Psychometrika, Springer;The Psychometric Society, vol. 30(2), pages 179-185, June.
    8. Luis R. Gomez–Mejia & Joanna Tochman Campbell & Geoffrey Martin & Robert E. Hoskisson & Marianna Makri & David G. Sirmon, 2014. "Socioemotional Wealth as a Mixed Gamble: Revisiting Family Firm R&D Investments with the Behavioral Agency Model," Entrepreneurship Theory and Practice, , vol. 38(6), pages 1351-1374, November.
    9. William S. Schulze & Franz W. Kellermanns, 2015. "Reifying Socioemotional Wealth," Entrepreneurship Theory and Practice, , vol. 39(3), pages 447-459, May.
    10. Astrachan, Claudia Binz & Patel, Vijay K. & Wanzenried, Gabrielle, 2014. "A comparative study of CB-SEM and PLS-SEM for theory development in family firm research," Journal of Family Business Strategy, Elsevier, vol. 5(1), pages 116-128.
    11. James M. Vardaman & Maria B. Gondo, 2014. "Socioemotional Wealth Conflict in Family Firms," Entrepreneurship Theory and Practice, , vol. 38(6), pages 1317-1322, November.
    12. Eddleston, Kimberly A. & Kellermanns, Franz W., 2007. "Destructive and productive family relationships: A stewardship theory perspective," Journal of Business Venturing, Elsevier, vol. 22(4), pages 545-565, July.
    13. Sciascia, Salvatore & Mazzola, Pietro & Kellermanns, Franz W., 2014. "Family management and profitability in private family-owned firms: Introducing generational stage and the socioemotional wealth perspective," Journal of Family Business Strategy, Elsevier, vol. 5(2), pages 131-137.
    14. Cardon, Melissa S. & Gregoire, Denis A. & Stevens, Christopher E. & Patel, Pankaj C., 2013. "Measuring entrepreneurial passion: Conceptual foundations and scale validation," Journal of Business Venturing, Elsevier, vol. 28(3), pages 373-396.
    15. Sin, Leo Y. M. & Tse, Alan C. B. & Yau, Oliver H. M. & Chow, Raymond P. M. & Lee, Jenny S. Y. & Lau, Lorett B. Y., 2005. "Relationship marketing orientation: scale development and cross-cultural validation," Journal of Business Research, Elsevier, vol. 58(2), pages 185-194, February.
    16. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    17. Naresh K. Malhotra & Sung S. Kim & Ashutosh Patil, 2006. "Common Method Variance in IS Research: A Comparison of Alternative Approaches and a Reanalysis of Past Research," Management Science, INFORMS, vol. 52(12), pages 1865-1883, December.
    18. Burroughs, James E & Rindfleisch, Aric, 2002. "Materialism and Well-Being: A Conflicting Values Perspective," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 29(3), pages 348-370, December.
    19. Henry Kaiser, 1974. "An index of factorial simplicity," Psychometrika, Springer;The Psychometric Society, vol. 39(1), pages 31-36, March.
    20. Jelle Schepers & Wim Voordeckers & Tensie Steijvers & Eddy Laveren, 2014. "The entrepreneurial orientation–performance relationship in private family firms: the moderating role of socioemotional wealth," Small Business Economics, Springer, vol. 43(1), pages 39-55, June.
    21. Pieper, Torsten M., 2010. "Non solus: Toward a psychology of family business," Journal of Family Business Strategy, Elsevier, vol. 1(1), pages 26-39, March.
    22. Armstrong, J. Scott & Overton, Terry S., 1977. "Estimating Nonresponse Bias in Mail Surveys," MPRA Paper 81694, University Library of Munich, Germany.
    23. Lucia Naldi & Carmelo Cennamo & Guido Corbetta & Luis Gomez–Mejia, 2013. "Preserving Socioemotional Wealth in Family Firms: Asset or Liability? The Moderating Role of Business Context," Entrepreneurship Theory and Practice, , vol. 37(6), pages 1341-1360, November.
    24. Mike Wright & James J. Chrisman & Jess H. Chua & Lloyd P. Steier, 2014. "Family Enterprise and Context," Entrepreneurship Theory and Practice, , vol. 38(6), pages 1247-1260, November.
    25. Peres-Neto, Pedro R. & Jackson, Donald A. & Somers, Keith M., 2005. "How many principal components? stopping rules for determining the number of non-trivial axes revisited," Computational Statistics & Data Analysis, Elsevier, vol. 49(4), pages 974-997, June.
    26. Hauck, Jana & Prügl, Reinhard, 2015. "Innovation activities during intra-family leadership succession in family firms: An empirical study from a socioemotional wealth perspective," Journal of Family Business Strategy, Elsevier, vol. 6(2), pages 104-118.
    27. Dehlen, Tobias & Zellweger, Thomas & Kammerlander, Nadine & Halter, Frank, 2014. "The role of information asymmetry in the choice of entrepreneurial exit routes," Journal of Business Venturing, Elsevier, vol. 29(2), pages 193-209.
    28. William S. Schulze & Michael H. Lubatkin & Richard N. Dino & Ann K. Buchholtz, 2001. "Agency Relationships in Family Firms: Theory and Evidence," Organization Science, INFORMS, vol. 12(2), pages 99-116, April.
    29. James J. Chrisman & Jess H. Chua & Pramodita Sharma, 2005. "Trends and Directions in the Development of a Strategic Management Theory of the Family Firm," Entrepreneurship Theory and Practice, , vol. 29(5), pages 555-575, September.
    30. Danny Miller & Jangwoo Lee & Sooduck Chang & Isabelle Le Breton-Miller, 2009. "Filling the institutional void: The social behavior and performance of family vs non-family technology firms in emerging markets," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 40(5), pages 802-817, June.
    31. Thomas M. Zellweger & Franz W. Kellermanns & James J. Chrisman & Jess H. Chua, 2012. "Family Control and Family Firm Valuation by Family CEOs: The Importance of Intentions for Transgenerational Control," Organization Science, INFORMS, vol. 23(3), pages 851-868, June.
    32. Clay M. Voorhees & Michael K. Brady & Roger Calantone & Edward Ramirez, 2016. "Discriminant validity testing in marketing: an analysis, causes for concern, and proposed remedies," Journal of the Academy of Marketing Science, Springer, vol. 44(1), pages 119-134, January.
    33. Luis R. Gomez‐Mejia & Marianna Makri & Martin Larraza Kintana, 2010. "Diversification Decisions in Family‐Controlled Firms," Journal of Management Studies, Wiley Blackwell, vol. 47(2), pages 223-252, March.
    34. Wayne Velicer, 1976. "Determining the number of components from the matrix of partial correlations," Psychometrika, Springer;The Psychometric Society, vol. 41(3), pages 321-327, September.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Kosmidou, Vasiliki & Holt, Daniel T., 2022. "The relationship between family management and performance: A configurational approach in exploring the role of socioemotional wealth and generational stage," Journal of Family Business Strategy, Elsevier, vol. 13(4).
    2. Ng, Poh Yen & Dayan, Mumin & Di Benedetto, Anthony, 2019. "Performance in family firm: Influences of socioemotional wealth and managerial capabilities," Journal of Business Research, Elsevier, vol. 102(C), pages 178-190.
    3. Debicki, Bart J. & Kellermanns, Franz W. & Chrisman, James J. & Pearson, Allison W. & Spencer, Barbara A., 2016. "Development of a socioemotional wealth importance (SEWi) scale for family firm research," Journal of Family Business Strategy, Elsevier, vol. 7(1), pages 47-57.
    4. Min, Byung-seong, 2021. "Heterogeneity of R&D in family firms," Journal of Business Research, Elsevier, vol. 129(C), pages 88-95.
    5. Barros, Ismael & Hernangómez, Juan & Martin-Cruz, Natalia, 2016. "A theoretical model of strategic management of family firms. A dynamic capabilities approach," Journal of Family Business Strategy, Elsevier, vol. 7(3), pages 149-159.
    6. Susana Álvarez‐Díez & J. Samuel Baixauli‐Soler & María Belda‐Ruiz & Gregorio Sánchez‐Marín, 2023. "Variable selection for classification and forecasting of the family firm's socioemotional wealth," Journal of Forecasting, John Wiley & Sons, Ltd., vol. 42(8), pages 2063-2078, December.
    7. Felipe Hernández-Perlines & Juan Moreno-García & Benito Yáñez-Araque, 2019. "The influence of socioemotional wealth in the entrepreneurial orientation of family businesses," International Entrepreneurship and Management Journal, Springer, vol. 15(2), pages 523-544, June.
    8. William S. Schulze & Franz W. Kellermanns, 2015. "Reifying Socioemotional Wealth," Entrepreneurship Theory and Practice, , vol. 39(3), pages 447-459, May.
    9. Xueru Yang & Jun Li & Laura J. Stanley & Franz W. Kellermanns & Xinchun Li, 2020. "How family firm characteristics affect internationalization of Chinese family SMEs," Asia Pacific Journal of Management, Springer, vol. 37(2), pages 417-448, June.
    10. Davila, Jessenia & Duran, Patricio & Gómez-Mejía, Luis & Sanchez-Bueno, Maria J., 2023. "Socioemotional wealth and family firm performance: A meta-analytic integration," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    11. Cambrea, Domenico Rocco & Ponomareva, Yuliya & Pittino, Daniel & Minichilli, Alessandro, 2022. "Strings attached: Socioemotional wealth mixed gambles in the cash management choices of family firms," Journal of Family Business Strategy, Elsevier, vol. 13(3).
    12. Arrondo-García, Rubén & Fernández-Méndez, Carlos & Menéndez-Requejo, Susana, 2016. "The growth and performance of family businesses during the global financial crisis: The role of the generation in control," Journal of Family Business Strategy, Elsevier, vol. 7(4), pages 227-237.
    13. Dou, Junsheng & Wang, Ning & Su, Emma & Fang, Hanqing & Memili, Esra, 2020. "Goal complexity in family firm diversification: Evidence from China," Journal of Family Business Strategy, Elsevier, vol. 11(1).
    14. Ivan Miroshnychenko & Alfredo De Massis & Danny Miller & Roberto Barontini, 2021. "Family Business Growth Around the World," Entrepreneurship Theory and Practice, , vol. 45(4), pages 682-708, July.
    15. César Camisón-Zornoza & Beatriz Forés-Julián & Alba Puig-Denia & Sergio Camisón-Haba, 0. "Effects of ownership structure and corporate and family governance on dynamic capabilities in family firms," International Entrepreneurship and Management Journal, Springer, vol. 0, pages 1-34.
    16. César Camisón-Zornoza & Beatriz Forés-Julián & Alba Puig-Denia & Sergio Camisón-Haba, 2020. "Effects of ownership structure and corporate and family governance on dynamic capabilities in family firms," International Entrepreneurship and Management Journal, Springer, vol. 16(4), pages 1393-1426, December.
    17. Jean-Luc Arregle & Francesco Chirico & Liena Kano & Sumit K. Kundu & Antonio Majocchi & William S. Schulze, 2021. "Family firm internationalization: Past research and an agenda for the future," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 52(6), pages 1159-1198, August.
    18. Schickinger, Antonia & Bierl, Philipp A. & Leitterstorf, Max P. & Kammerlander, Nadine, 2023. "Family-related goals, entrepreneurial investment behavior, and governance mechanisms of single family offices: An exploratory study," Journal of Family Business Strategy, Elsevier, vol. 14(2).
    19. Bauweraerts, Jonathan & Sciascia, Salvatore & Naldi, Lucia & Mazzola, Pietro, 2019. "Family CEO and board service: Turning the tide for export scope in family SMEs," International Business Review, Elsevier, vol. 28(5), pages 1-1.
    20. Mª José Martínez Romero & Alfonso A. Rojo Ramírez, 2017. "Socioemotional wealth’s implications in the calculus of the minimum rate of return required by family businesses’ owners," Review of Managerial Science, Springer, vol. 11(1), pages 95-118, January.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:fambus:v:7:y:2016:i:3:p:133-148. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/wps/find/journaldescription.cws_home/719791/description#description .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.