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Socioemotional Wealth and Networking in the Internationalisation of Family SMEs

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The Palgrave Handbook of Family Firm Internationalization

Abstract

In internationalisation processes, international expansion exposes family SMEs to external networking and the risks such expansion entails, and perceived threats to their socioemotional wealth (SEW) might restrain their willingness to take these actions. However, very few studies measure SEW and associate it with internationalisation. Considering SEW preservation’s prominence in family SMEs and SMEs’ heavy dependence on networking during internationalisation, we hypothesise that SEW preservation has a negative association and networking has a positive association with the family SMEs’ degree of internationalisation (DOI). We reconstruct four SEW constructs that carry significance for family SMEs—family-heritage maintenance, family-controlled decision-making, familial relationship-building and emotional decision-making—used in the SEW-related hypotheses and as moderators of networking’s effects. A multiple regression analysis of 89 Finnish SMEs (47 of which were family SMEs) suggests that emotional decision-making has a strong negative relationship and networking has a strong positive relationship with DOI. The results extend and clarify the restraining role of SEW through affective preferences and needs in family-SME internationalisation, while also emphasising the economising role of networking in offsetting dysfunctional SEW and related bifurcation bias in the long run.

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Authors and Affiliations

  1. LUT University, Lappeenranta, Finland

    Jaakko Metsola, Lasse Torkkeli & Tanja Leppäaho

  2. RMIT University, Melbourne, VIC, Australia

    Pia Arenius

  3. University of Jyväskylä, Jyväskylä, Finland

    Mika Haapanen

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  1. Jaakko Metsola
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  2. Lasse Torkkeli
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  3. Tanja Leppäaho
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  4. Pia Arenius
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  5. Mika Haapanen
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Correspondence to Jaakko Metsola .

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Editors and Affiliations

  1. LUT University, Lappeenranta, Finland

    Tanja Leppäaho

  2. House of Innovation, Stockholm School of Economics, Stockholm, Sweden

    Sarah Jack

  3. Lancaster University Management School, Lancaster, UK

    Sarah Jack

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Metsola, J., Torkkeli, L., Leppäaho, T., Arenius, P., Haapanen, M. (2021). Socioemotional Wealth and Networking in the Internationalisation of Family SMEs. In: Leppäaho, T., Jack, S. (eds) The Palgrave Handbook of Family Firm Internationalization. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-66737-5_3

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