A generational perspective of family firms' social capital: Interplay between ethical leadership and firm performance

Author:

Sanchez‐Famoso Valeriano1ORCID,Maseda Amaia1ORCID,Iturralde Txomin1ORCID,Alayo Mikel1ORCID

Affiliation:

1. Faculty of Economics & Business University of the Basque Country UPV/EHU Bilbao Spain

Abstract

AbstractThis study proposes and tests a model that integrates ethical leadership, internal social capital, and firm performance in small‐ and medium‐sized family firms at different generational stages. Using the upper echelons theory and the social capital perspective of familiness, this study shows that ethical leadership can explain the effectiveness of certain behaviors in relation to family firm performance. Moreover, social capital helps spread a leader's business ethics to firm members, thus improving the family firm's performance. Our results show that founders' personalities and identities determine high internal social capital, which decreases over generations. The study also shows that internal social capital is a communicative element crucial to ethical leadership, facilitating the absorption of the culture and values of the family in the firm. This powerful resource should be promoted and supported by coherent behavior over time by senior leaders.

Funder

Ministerio de Ciencia e Innovación

Publisher

Wiley

Subject

Management, Monitoring, Policy and Law,Organizational Behavior and Human Resource Management,Economics and Econometrics,Philosophy,Business and International Management

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