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The socioemotional wealth of leaders in family firm succession and corporate governance processes: a systematic literature review

Isabel Cristina Panziera Marques (Centre for Public Administration and Public Policies, Institute of Social and Political Sciences, Universidade de Lisboa, Lisbon, Portugal) (NECE, Research Center in Business Sciences, Covilhã, Portugal)
João Leitão (Department of Management and Economics, University of Beira Interior (UBI), Covilhã, Portugal) (NECE, Research Center in Business Sciences, Covilhã, Portugal) (CEG-IST, Centre for Management Studies of Instituto Superior Técnico, University of Lisbon, Lisbon, Portugal) (ICS, Instituto de Ciências Sociais, University of Lisbon, Lisbon, Portugal)
João Ferreira (Department of Management and Economics, University of Beira Interior (UBI), Covilhã, Portugal) (NECE, Research Center in Business Sciences, Covilhã, Portugal) (QUT- Australian Centre for Entrepreneurship Research, Brisbane, Australia)
André Cavalcanti (Department of Management and Economics, University of Beira Interior (UBI), Covilhã, Portugal)

International Journal of Entrepreneurial Behavior & Research

ISSN: 1355-2554

Article publication date: 11 January 2023

Issue publication date: 17 January 2023

63

Abstract

Purpose

Adopting the research concept of socioemotional wealth (SEW) as applied to family firm leaders, this study aims to analyse the literature on succession and corporate governance processes in family firms in keeping with this still developing concept and thereby not only contributing to advancing knowledge on this field but also proposing a conceptual model of analysis and a future research agenda.

Design/methodology/approach

The authors carried out a review and systematisation of the literature according to its different thematic groups through recourse to VOSviewer software and content analysis to establish a systematised and integrated structure of the reference literature based on a sample of 218 studies published and indexed on the Web of Science and SCOPUS databases between 2010 and 2021.

Findings

The results portray five leading clusters, specifically, (1) SEW and family firm performance; (2) SEW and the focus on leadership as a precursor to succession; (3) family firms, SEW and corporate social governance; (4) family firm innovation and performance; and (5) family ownership and management. The authors then put forward a conceptual model of analysis both to better integrate these topics and as a proposition for application in future research projects.

Originality/value

The study provides a new and solid systematisation of the literature and supports the argument that family firms concentrating on developing the leader's SEW increase the probability of structuring a successful succession process as well as the likelihood of achieving higher quality corporate governance.

Keywords

Acknowledgements

This work was supported by The Portuguese Foundation for Science and Technology (Grants and NECE-UIDB/04630/2020) provided financial support for this study.

Citation

Marques, I.C.P., Leitão, J., Ferreira, J. and Cavalcanti, A. (2023), "The socioemotional wealth of leaders in family firm succession and corporate governance processes: a systematic literature review", International Journal of Entrepreneurial Behavior & Research, Vol. 29 No. 1, pp. 268-295. https://doi.org/10.1108/IJEBR-01-2022-0092

Publisher

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Emerald Publishing Limited

Copyright © 2022, Emerald Publishing Limited

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