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Managerial capabilities and strategic renewal in family firms in crisis situations: The moderating role of the founding generation

journal contribution
posted on 2023-01-16, 14:38 authored by Wunnam Basit Issah, Muhammad Anwar, Thomas Clauss, Sascha Kraus

This study examines whether founding generation managed family firms are capable of responding proactively to the COVID-19 disruption via firm renewal. We used a unique global COVID-19 crisis specific survey dataset comprising of 2,130 family firm observations. Our findings indicate that in comparison to the later generations, founding generation-managed family firms only do better at strategic renewal as a response to the crisis when they have sufficient managerial capabilities. Our study recommends that family businesses, especially those managed by the founding generations should emphasize managerial capabilities rather than merely focusing on socioemotional wealth (SEW) when deciding on crisis coping strategies.

History

Author affiliation

School of Business, University of Leicester

Version

AM (Accepted Manuscript)

Published in

Journal of Business Research

Volume

156

Publisher

Elsevier BV

issn

0148-2963

Copyright date

2023

Available date

2024-05-30

Language

en

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