Is Non-Family Social Capital Also (or Especially) Important for Family Firm Performance?
Sanchez-Famoso V., Akhter N., Iturralde T., Chirico F., Maseda A.
This study investigates the effects of both family and non-family social capital on firm performance. Specifically, we contend that non-family social capital has a stronger effect than family social capital and also serves as a mediator between family social capital and firm performance. Using a sample of 172 Spanish family firms that includes two respondents per firm, we test a structural model that confirms our hypotheses. Our results extend the understanding of social capital beyond family firms by exploring both family- and non-family-based social relationships in a context in which social factors are predominant.
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