THE RELATIONS OF THE SOCIOEMOTIONAL WEALTH AND THE FAMILY BUSINESSES’ SUSTAINABILITY

Abstract

The socioemotional wealth (SEW) is one of the concepts in theoretical literature dealing with family businesses which has a rather short past, however, as for the general approach this means one of the promising directions of the future researches in all analyses of performance, company evaluation, diversification, social responsibility, venturing and the given concept with family business in the focus (Sciascia, Mazzola 2014). Our empirical research focused on the factors of the socioemotional wealth and the family business performance of the surveyed family firms. The main research question of this paper is which factors of socioemotial wealth can increase and decrease the financial perform of the family businesses. Based on the statistical analysis of the sample we can conclude that analyzing the elements of the “emotional load” forming the family businesses’ specific internal energy level as opposed to the nonfamily businesses in relation to the performance indicators there is a moderately strong, positive correlation between profitability.