The impact of CEOs' personality on socio-emotional wealth and competitiveness improvement of family-owned SMEs

Journal
International Journal of Productivity and Quality Management
ISSN
1746-6474
1746-6482
Publisher
Inderscience
Date Issued
2024
Author(s)
García Ibarra, Verónica Janneth
Afshar Jahanshahi, Asghar
Type
text::journal::journal article
DOI
URL
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. ©International Journal of Productivity and Quality Management
How to cite
Ibarra, V. J. G., & Jahanshahi, A. A. (2024). The impact of CEOs’ personality on socio-emotional wealth and competitiveness improvement of family-owned SMEs. In International Journal of Productivity and Quality Management (Vol. 41, Issue 4, pp. 435–460). Inderscience Publishers. https://doi.org/10.1504/ijpqm.2024.137887