Abstract
The purpose of this study is to examine the impact of economic and non-economic dynamics (i.e., innovativeness and family firm psychological capital) on family firms’ Corporate Social Responsibility (CSR) activities through the lens of Goal Systems Theory. Aside from the mediation effects of family firm psychological capital on the link between innovativeness and CSR activities, we also explore the differential effects of the interplay between innovativeness and family firm psychological capital on different types of CSR activities (i.e., social and environmental). We test the model on a sample of 217 family firms in the Hospitality and Tourism (H&T) industry. The results reveal that both economic and non-economic dynamics can influence CSR activities. We also discuss theoretical and practical implications of our findings.
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