The impact of CEOs' personality on socio-emotional wealth and competitiveness improvement of family-owned SMEs
by Verónica Janneth García-Ibarra; Asghar Afshar Jahanshahi
International Journal of Productivity and Quality Management (IJPQM), Vol. 41, No. 4, 2024

Abstract: Socio-emotional wealth has been considered the most important differentiator of the family firm as a unique entity. In this study, we examine the relationships between CEO personality (emotional stability, agreeableness, conscientiousness, openness to experience, extraversion), socio-emotional wealth, and family firms' competitiveness improvement using a sample of 352 small and medium-sized family firms from Ecuador. The data were processed in SPSS using hierarchical regressions. Results showed a positive and significant relationship between the CEO's extraversion, agreeableness, and openness to experience with both socio-emotional wealth and family firms' competitiveness improvement. However, in the case of emotional stability and conscientiousness, the results were not statistically significant regarding socio-emotional wealth and competitiveness improvement. Our research contributes to the current literature by highlighting how each dimension of a CEO's personality either enhances or inhibits the competitiveness improvement of family-owned SMEs.

Online publication date: Mon, 08-Apr-2024

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