Socioemotional wealth in family business: A theoretical analysis and research agenda

Abstract

Introduction.bThe article focuses on the study of socioemotional wealth (SEW) as a key factor determining the decision-making logic in family businesses. The relevance of the work is justified by the significant share of family firms in the small and medium-sized business sector of the Russian Federation and the uniqueness of the Russian context, characterized by institutional immaturity, macroeconomic turbulence, and cultural-religious specifics, which precludes the direct transfer of Western research models. Theoretical analysis.bThe analysis of the SEW concept, understood as the non-financial benefits a family derives from business ownership, is conducted. Existing approaches to measuring SEW (FIBER, SEWi, REI models) are reviewed, and their limitations related to the cultural specificity of the samples are identified. As an alternative, a subject-activity approach is proposed, enabling the study of the Russian business family as a collective subject actively forming SEW through strategic activities, overcoming systemic contradictions, and development over time. Conclusion.bBased on the theoretical analysis, promising directions for SEW research in Russia are identified, including the development of a domestic model (R-SEW), the study of its manifestations in crisis conditions, and the features of national culture. Practical recommendations for Russian family companies are formulated, aimed at strengthening SEW through maintaining family control, formalizing intra-family agreements, and advance preparation for succession.