The Origins and Development of Socioemotional Wealth Within Next-Generation Family Members: An Interpretive Grounded Theory Study

Linda Murphy*, Jolien Huybrechts, Frank Lambrechts

*Corresponding author for this work

Research output: Contribution to journalArticleAcademicpeer-review

15 Citations (Web of Science)

Abstract

Adopting an interpretive grounded theory approach, we find that key events in the early lives of next-generation family members fuel a sense of belonging and identity, which lies at the heart of their socioemotional wealth. As next-generation family members interact more with the family business, they interpret nonfinancial aspects of the firm as an answer to a larger variety of affective needs, which broadens and strengthens their interactive socioemotional wealth frame of mind. In line with our life course theory lens, we observe how key events that build up socioemotional wealth greatly influence the life paths of next-generation family members.
Original languageEnglish
Pages (from-to)396-424
Number of pages29
Journalfamily business review
Volume32
Issue number4
DOIs
Publication statusPublished - Dec 2019

Keywords

  • socioemotional wealth
  • family business experiences
  • life course
  • next-generation family members
  • grounded theory
  • BUSINESS RESEARCH
  • CONTROLLED FIRMS
  • MODERATING ROLE
  • TECHNOLOGY
  • PERSPECTIVE
  • STRATEGIES
  • NONFAMILY
  • IDENTITY
  • IMPACT
  • GAMBLE

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