Abstract
While research has often claimed that individual actors' values and consequently behaviour impact the performance of a firm significantly, empirical underpinning about the mechanisms is missing. Especially in family firms, this is crucial to understand, as owner-manager exert an extraordinary influence on values, goals, and their respective firm's behaviour. Therefore, this study aims to connect individual values of the owner-manager to the performance of a family firm, mediated by socioemotional wealth. To help understand this phenomenon, we used structural equation modelling on a dataset of 673 family firms. Based upon upper-echelon theory, our results indicate that person-focused values impact performance directly while social-focused values impact performance mediated by SEW.
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