The Influence of Socio-Emotional Wealth on the Speed of the Export Development Process in Family and Non-Family Firms

Keywords: Export behavior, Family firm, Internationalization process, Socio-emotional wealth, Speed of internationalization


This paper proposes that family firms do not necessarily internationalize less than non-family businesses, but rather, they do it more slowly. Lower speed of internationalization process of family business (measured by the speed of the export development process) is a consequence of the role of the socio-emotional wealth (SEW) in these firms. SEW operates through three different mechanisms: (1) long-term orientation, (2) risk avoidance, and (3) lack of resources to be independent. The empirical research, based on a panel of more than a thousand Spanish manufacturing firms along nine years (2006-2014), supports the hypothesis proposed, independently of firm’s previous size, age, and export commitment level.


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How to Cite
Moreno-Menéndez, A. M., Castiglioni, M., & Cobeña-Ruiz-Lopera, M.- del-M. (2021). The Influence of Socio-Emotional Wealth on the Speed of the Export Development Process in Family and Non-Family Firms. European Journal of Family Business, 11(2).
Research Paper (SI)