Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms
The socioemotional wealth of family businesses fosters long-term orientation, aligning with the environmental, social, and governance (ESG) principles essential for sustainable value creation. This study utilised panel data from 1,181 Chinese-listed family firms between 2016 and 2020. It employed mu...
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| Format: | Article |
| Language: | English |
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Elsevier
2025-06-01
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| Series: | Sustainable Futures |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2666188825000401 |
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| _version_ | 1832576405176582144 |
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| author | ChangYi Zhu Alexandra Simón Villar Maria Jose Parada Balderrama |
| author_facet | ChangYi Zhu Alexandra Simón Villar Maria Jose Parada Balderrama |
| author_sort | ChangYi Zhu |
| collection | DOAJ |
| description | The socioemotional wealth of family businesses fosters long-term orientation, aligning with the environmental, social, and governance (ESG) principles essential for sustainable value creation. This study utilised panel data from 1,181 Chinese-listed family firms between 2016 and 2020. It employed multiple regression and mediation analysis to examine how ESG engagement mediates the relationship between family control and the firms’ financial outcomes. The findings revealed that proactive ESG strategies enhance the positive effects of family control on financial outcomes, though the degree of mediation varied across performance indicators. These results highlight the strategic importance of integrating ESG considerations into financial planning for family businesses, offering valuable insights for managers and investors seeking to drive sustainable development through informed capital allocation and targeted governance structures. From a policy perspective, these results suggest the need for government incentives and enhanced disclosure standards to encourage broader ESG adoption among family firms in emerging markets. |
| format | Article |
| id | doaj-art-5428569610b241cea4642246284cacf7 |
| institution | Kabale University |
| issn | 2666-1888 |
| language | English |
| publishDate | 2025-06-01 |
| publisher | Elsevier |
| record_format | Article |
| series | Sustainable Futures |
| spelling | doaj-art-5428569610b241cea4642246284cacf72025-01-31T05:12:26ZengElsevierSustainable Futures2666-18882025-06-019100470Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firmsChangYi Zhu0Alexandra Simón Villar1Maria Jose Parada Balderrama2Autonomous University of Barcelona Spain; Corresponding author at: Department of Business, Autonomic University of Barcelona, 08193 Barcelona.Autonomous University of Barcelona SpainEsade Business School SpainThe socioemotional wealth of family businesses fosters long-term orientation, aligning with the environmental, social, and governance (ESG) principles essential for sustainable value creation. This study utilised panel data from 1,181 Chinese-listed family firms between 2016 and 2020. It employed multiple regression and mediation analysis to examine how ESG engagement mediates the relationship between family control and the firms’ financial outcomes. The findings revealed that proactive ESG strategies enhance the positive effects of family control on financial outcomes, though the degree of mediation varied across performance indicators. These results highlight the strategic importance of integrating ESG considerations into financial planning for family businesses, offering valuable insights for managers and investors seeking to drive sustainable development through informed capital allocation and targeted governance structures. From a policy perspective, these results suggest the need for government incentives and enhanced disclosure standards to encourage broader ESG adoption among family firms in emerging markets.http://www.sciencedirect.com/science/article/pii/S2666188825000401Family businessESGFinancial performanceCSRChinese market |
| spellingShingle | ChangYi Zhu Alexandra Simón Villar Maria Jose Parada Balderrama Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms Sustainable Futures Family business ESG Financial performance CSR Chinese market |
| title | Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms |
| title_full | Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms |
| title_fullStr | Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms |
| title_full_unstemmed | Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms |
| title_short | Toward sustainability: ESG bridging socioemotional wealth and sustainable financial in family firms |
| title_sort | toward sustainability esg bridging socioemotional wealth and sustainable financial in family firms |
| topic | Family business ESG Financial performance CSR Chinese market |
| url | http://www.sciencedirect.com/science/article/pii/S2666188825000401 |
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