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The impact of CEOs' personality on socio-emotional wealth and competitiveness improvement of family-owned SMEs

Author

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  • Verónica Janneth García-Ibarra
  • Asghar Afshar Jahanshahi

Abstract

Socio-emotional wealth has been considered the most important differentiator of the family firm as a unique entity. In this study, we examine the relationships between CEO personality (emotional stability, agreeableness, conscientiousness, openness to experience, extraversion), socio-emotional wealth, and family firms' competitiveness improvement using a sample of 352 small and medium-sized family firms from Ecuador. The data were processed in SPSS using hierarchical regressions. Results showed a positive and significant relationship between the CEO's extraversion, agreeableness, and openness to experience with both socio-emotional wealth and family firms' competitiveness improvement. However, in the case of emotional stability and conscientiousness, the results were not statistically significant regarding socio-emotional wealth and competitiveness improvement. Our research contributes to the current literature by highlighting how each dimension of a CEO's personality either enhances or inhibits the competitiveness improvement of family-owned SMEs.

Suggested Citation

  • Verónica Janneth García-Ibarra & Asghar Afshar Jahanshahi, 2024. "The impact of CEOs' personality on socio-emotional wealth and competitiveness improvement of family-owned SMEs," International Journal of Productivity and Quality Management, Inderscience Enterprises Ltd, vol. 41(4), pages 435-460.
    • Handle: RePEc:ids:ijpqma:v:41:y:2024:i:4:p:435-460
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