Measuring socioemotional wealth in family-owned and -managed firms: A validation and short form of the FIBER Scale. Issue 3 (September 2016)

• Record Type: Journal Article
• Authors: Hauck, Jana; Suess-Reyes, Julia; Beck, Susanne; Prügl, Reinhard; Frank, Hermann
• Is Part Of: Journal of family business strategy. Volume 7:Issue 3(2016:Sep.)
• Page Start: 133
• Page End: 148
• Publication Date: 2016-09
• Subjects: Family firm -- Socioemotional wealth (SEW) -- Scale validation -- FIBER scale -- REI scale -- Affective endowment; Family-owned business enterprises -- Management -- Periodicals; Strategic planning -- Periodicals; planning -- Periodicals; 658.04505
• DOI: 10.1016/j.jfbs.2016.08.001
• Languages: English
• ISSNs: 1877-8585

Abstract

Highlights: Empirical validation of the FIBER scale for privately-held family firms. Theoretical validation of the FIBER scale. Short form with three dimensions called "REI scale". REI captures the core affective endowments a family may derive from its ownership. Abstract: Socioemotional wealth (SEW) is a key concept in family business research. The proposed FIBER scale as a direct and multidimensional measure of SEW is therefore a significant research achievement. We refined the scale by validating and thereby shortening it, using a sample of 216 family-owned and -managed firms with up to 500 employees in the German-speaking area. The validation reveals different degrees of validity across the five FIBER dimensions, resulting in a revised short form called the REI scale that comprises nine items that measure the core affective endowments a family may derive from controlling a firm. Based on our empirical validation, we discuss theoretical implications for the further development of a sound SEW measure.