Journal
FAMILY BUSINESS REVIEW
Volume 28, Issue 2, Pages 145-162Publisher
SAGE PUBLICATIONS INC
DOI: 10.1177/0894486514526754
Keywords
familiness; family social capital; TMT; trust; stakeholders
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Funding
- Spanish Ministry of Science and Innovation [ECO2008-00265/ECON]
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Based on a social capital approach, we analyze how structural and cognitive family social capital (FSC) influences the establishment of corporate goals related to nonfamily stakeholders (EGNFS) in family firms. Data were obtained from 374 family and nonfamily members of top management teams (TMTs) in 173 Spanish family firms. Results show that structural FSC directly influences the establishment of corporate goals related to nonfamily stakeholders. Also there is an indirect influence through the effect FSC has on the relational social capital (trust) in the TMT. When data are split based on familial and nonfamilial TMTs (depending on the percentage of family members), results show important differences between the two groups.
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