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Beyond the balance Sheet: The effects of family influence on social performance

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  • Cox, Kevin C.
  • Lortie, Jason
  • Marshall, David R.
  • Kidwell, Roland E.

Abstract

This study examines the unique family influence on social performance among family firms. Integrating a new systems theory of family influence with stewardship and stakeholder salience perspectives, we contend that some forms of family influence lead family firms to view society as a particularly salient stakeholder. Thus, when family influenced decisions are consistent with stewardship domains of family firms (continuity, community, and connection), society-related goals become increasingly important to leaders in family firms and subsequently increase the social performance of these firms. We test these relationships with a sample of 300 family firm owners and find evidence generally supporting our hypotheses. This study sheds new light on the relationship between family firms and social impact.

Suggested Citation

  • Cox, Kevin C. & Lortie, Jason & Marshall, David R. & Kidwell, Roland E., 2022. "Beyond the balance Sheet: The effects of family influence on social performance," Journal of Business Research, Elsevier, vol. 143(C), pages 318-330.
    • Handle: RePEc:eee:jbrese:v:143:y:2022:i:c:p:318-330
    DOI: 10.1016/j.jbusres.2022.01.013
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