SOCIO-EMOTIONAL WEALTH AND EMOTIONAL DYNAMICS IN FAMILY BUSINESS MANAGEMENT: A QUALITATIVE STUDY
SOCIO-EMOTIONAL WEALTH AND EMOTIONAL DYNAMICS IN FAMILY BUSINESS MANAGEMENT: A QUALITATIVE STUDY

Summary/Abstract: Family businesses are organizations established primarily for economic purposes in which family members play a critical role in managerial processes, particularly in today's highly competitive, uncertain, and dynamic business environment. Accordingly, factors such as emotional relationships among family members, mutual trust, commitment, and family values can be regarded as fundamental elements shaping managerial processes in family firms. In the literature, the socioemotional wealth (SEW) perspective provides a theoretical framework for explaining family members' influence and control over the business through dimensions such as family identification with the firm, social and emotional ties, family legacy, and transgenerational continuity. This study aims to examine the role of socioemotional wealth and emotional dynamics in the management processes of family businesses through the lens of the SEW perspective. To achieve this objective, semi-structured interviews were conducted with family business owners and family member managers. The interview data were coded and categorized using MAXQDA qualitative data analysis software. Frequency, comparative, and relational analyses were employed to examine and visualize the relationships among the codes and categories. The analysis resulted in the identification of main themes and subthemes. The findings reveal that emotional dynamics among family members and socioemotional wealth components play an important role in shaping managerial processes, decision-making practices, and organizational relationships within family businesses.

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