Back to the Roots: Applying the Concept of Basic Human Values to Understand Family Firm Behavior

This study examines the influence of individual owner-manager values on the different dimensions of socioemotional wealth in family firms. We theorize that values of owner-managers in family firms are one of the underlying motivators for SEW behaviors. By using structural equation modeling, we show the connection between values and SEW. Results show that different values influence different dimensions of SEW; splitting the FIBER scale into two dimensions, one focused on social interests and the other on personal interests. Our findings help to understand the importance of individual values, advance SEW research and contribute to the understanding of family firm behavior."