Mindfulness, socioemotional wealth, and environmental strategy of family businesses

Mumin Dayan, Poh Yen Ng, Nelson Oly Ndubisi

    Research output: Contribution to journalArticlepeer-review

    26 Citations (Scopus)

    Abstract

    The study advances knowledge in the field of business strategy and the environment by incorporating mindfulness theory into the research on socioemotional wealth (SEW) and its environmental consequences in family businesses. Using an integrative model, the paper investigates the relationship between mindfulness SEW dimensions and family firms' environmental strategies, specifically in developing sustainable products and processes. This study also proposes the firm's capabilities as a mediator in this relationship, while market turbulence is a moderator in the relationship between the firm's capabilities and sustainable products and processes. The empirical results show that in protecting SEW, specifically in the identification of family members with the firm and binding social ties, mindfulness provides a rich endowment that develops appropriate capabilities to produce sustainable products and processes. While the moderating role of market turbulence is insignificant, we can infer that irrespective of how turbulent (or not) the market is, the firm's capabilities are a key determinant of sustainable products and processes. Our findings offer theoretical and managerial implications for sustainable practices in the family business context.

    Original languageEnglish
    Pages (from-to)466-481
    Number of pages16
    JournalBusiness Strategy and the Environment
    Volume28
    Issue number3
    DOIs
    Publication statusPublished - Mar 2019

    Keywords

    • capabilities
    • family firms
    • mindfulness
    • socioemotional wealth
    • sustainable products and processes

    ASJC Scopus subject areas

    • Business and International Management
    • Geography, Planning and Development
    • Strategy and Management
    • Management, Monitoring, Policy and Law

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