Mindfulness, socioemotional wealth, and environmental strategy of family businesses.

Dayan, Mumin; Ng, Poh Yen; Ndubisi, Nelson Oly

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.

Citation

DAYAN, M., NG, P.Y. and NDUBISI, N.O. 2019. Mindfulness, socioemotional wealth, and environmental strategy of family businesses. Business strategy and the environment [online], 28(3), pages 466-481. Available from: https://doi.org/10.1002/bse.2222

• Journal Article Type: Article
• Acceptance Date: Jan 13, 2019
• Online Publication Date: Jan 13, 2019
• Publication Date: Mar 31, 2019
• Deposit Date: Feb 24, 2023
• Publicly Available Date: Feb 24, 2023
• Journal: Business Strategy and the Environment
• Print ISSN: 0964-4733
• Electronic ISSN: 1099-0836
• Publisher: Wiley
• Peer Reviewed: Peer Reviewed
• Volume: 28
• Issue: 3
• Pages: 466-481
• DOI: https://doi.org/10.1002/bse.2222
• Keywords: Capabilities; Family firms; Mindfulness; Socioemotional wealth; Sustainable products and processes
• Public URL: https://rgu-repository.worktribe.com/output/1887960