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Advancing small family business studies: beginning evidence of psychological capital for approaching creativity

Author

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  • Dianne H.B. Welsh
  • Julia Vincent Ponroy
  • Thomas Niemand

Abstract

Scholars have widely investigated innovation in family firms, but creativity in these firms remains under explored. As a first step, we propose to measure creativity in family firms by applying a proxy known as psychological capital (PsyCap). PsyCap has been found to be highly reliable and valid in multiple industries and service organisations around the world, but it has not been empirically applied to family firms so far. PsyCap has been found, both its individual components (hope, efficacy, resilience and optimism, or the 'HERO' within) and overall, to be a predictor of creative performance. Based on a study conducted in a highly creative family firm, our findings show that organisational PsyCap (OPC) can be reliably measured in family firms and are linked to trust and overall family firm member positivity, important components for positive organisational behaviour. This study offers a first step in measuring creativity in FFs with PsyCap as a proxy. Implications for research and practice are discussed.

Suggested Citation

  • Dianne H.B. Welsh & Julia Vincent Ponroy & Thomas Niemand, 2022. "Advancing small family business studies: beginning evidence of psychological capital for approaching creativity," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 46(3), pages 376-393.
    • Handle: RePEc:ids:ijesbu:v:46:y:2022:i:3:p:376-393
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    Cited by:

    1. Jahmurataj, Veton & Ramadani, Veland & Bexheti, Abdylmenaf & Rexhepi, Gadaf & Abazi-Alili, Hyrije & Krasniqi, Besnik A., 2023. "Unveiling the determining factors of family business longevity: Evidence from Kosovo," Journal of Business Research, Elsevier, vol. 159(C).

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