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Family Business Review
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The Family Point of View, Family Social Capital, and Firm Performance

An Exploratory Test

Ritch L. Sorenson

University of St. Thomas

Kenneth E. Goodpaster

University of St. Thomas

Patricia R. Hedberg

University of St. Thomas

Andy Yu

University of Southern Indiana

Based on the social capital, conflict, and ethics literatures, this study introduces a new concept, the family point of view, and provides theoretical arguments resulting in the following hypotheses: (a) The family point of view emerges from collaborative dialogue, which helps develop agreement to ethical norms; (b) the presence of ethical norms further helps cultivate family social capital; and (c) as a resource in a family business, family social capital is positively related to family firm performance. Using structural equation modeling, an exploratory test of 405 small family firms found support for all three hypotheses. The findings indicate a fully mediated relationship among collaborative dialogue, ethical norms, family social capital, and firm performance. The study not only highlights the importance of moral infrastructure in family firms but also helps clarify components of family social capital.

Key Words: ethics • social capital • dialogue • collaboration • morality • family enterprise

This version was published on September 1, 2009

Family Business Review, Vol. 22, No. 3, 239-253 (2009)
DOI: 10.1177/0894486509332456
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R. L. Sorenson and L. Bierman
Family Capital, Family Business, and Free Enterprise
Family Business Review, September 1, 2009; 22(3): 193 - 195.
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