TITLE:
The Theoretical Framework and Application Frontier of Socioemotional Wealth Theory: A Literature Review from the Perspective of Family Firm
AUTHORS:
Jingwen Wu
KEYWORDS:
Family Firm, Socioemotional Wealth, Transgenerational Succession, Strategic Decision
JOURNAL NAME:
Modern Economy,
Vol.9 No.1,
January
24,
2018
ABSTRACT: For decades, family firms have received high attention
from the society, especially from academy community. However, researches on
family firms had been relying on other subject’s theories and frameworks in the
absence of its own unique theory system. Finally, in 2007, Gomez-Mejia and
other scholars put forward a brand new theory-Socioemotional Wealth Theory
(SEW). The appearance of the new theory enabled people to set up a framework of
interpretation. Nowadays, as the new theory entirely fits in with the features
and situations of family firms, it has gradually become a dominant
interpretation framework in the field, providing a new perspective for study.
We hope that, through analyzing and summarizing the existing researches on
Socioemotional Wealth Theory, including its rising up, content and constitutional
dimensions, measurement, and factors that influence the decisions and
preferences of family firms, this article could provide some references for
subsequent discussion and study.