Family Social Capital, Trust within the TMT, and the Establishment of Corporate Goals Related to Nonfamily Stakeholders

Based on a social capital approach, we analyze how structural and cognitive family social capital (FSC) influences the establishment of corporate goals related to nonfamily stakeholders (EGNFS) in family firms. Data were obtained from 374 family and nonfamily members of top management teams (TMTs) i...

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Bibliographic Details
Published inFamily business review Vol. 28; no. 2; pp. 145 - 162
Main Authors Cabrera-Suárez, M. Katiuska, Déniz-Déniz, M. Cruz, Martín-Santana, Josefa D.
Format Journal Article
LanguageEnglish
Published Los Angeles, CA SAGE Publications 01.06.2015
Subjects
trust
TMT
family social capital
stakeholders
familiness
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Summary:Based on a social capital approach, we analyze how structural and cognitive family social capital (FSC) influences the establishment of corporate goals related to nonfamily stakeholders (EGNFS) in family firms. Data were obtained from 374 family and nonfamily members of top management teams (TMTs) in 173 Spanish family firms. Results show that structural FSC directly influences the establishment of corporate goals related to nonfamily stakeholders. Also there is an indirect influence through the effect FSC has on the relational social capital (trust) in the TMT. When data are split based on familial and nonfamilial TMTs (depending on the percentage of family members), results show important differences between the two groups.
ISSN:0894-4865
1741-6248
DOI:10.1177/0894486514526754