A socioemotional wealth perspective on innovation in family firms: review and theoretical extension

This study conceptualises the heterogeneous relationship between different dimensions of the socioemotional wealth of family firms and innovation. Based on the comprehensive review of the empirical literature using the socioemotional wealth perspective (SEW), the author identifies four main themes as strategic decision-making, dynastic succession, internationalisation behaviour, and earnings management studied using SEW. Based on the gap in the existing literature, the author proposes a conceptual model on family firm's innovation using SEW perspective. The author argues that various dimensions of SEW have a heterogeneous impact on family firm innovation. Finally, the author proposes future search directions based on the gaps in the existing literature.