Home⇛SMN Digest⇛vol. 12 no. 1 (2026)

Approaches to Measure Socioemotional Wealth in Family Businesses: A Literature Review

Maria Jesusa Carina Aunario | Roberto Miguel Roque

Discipline: others in business and management

 

Abstract:

Family businesses occupy a distinct place in the business landscape as one of the key contributors to economic growth. Socioemotional Wealth (SEW) refers to the non-financial value that family owners seek to maintain and pass on across generations. Over time, SEW has become a central framework for explaining how family firms make decisions and manage succession. This study presents a review of literature on how SEW has been conceptualized and measured in family business research. Drawing from global studies, the review maps the different ways SEW has been operationalized through various dimensions, particularly through the FIBER model: Family control and influence, Identification of family members with the firm, Binding social ties, Emotional attachment of family members, and Renewal of family bonds to the firm through dynastic succession. Findings show wide variation in how these dimensions are defined, measured, and applied, revealing variations in how the construct is used. Most measurement tools have been developed in Western contexts, raising questions about their relevance in Asian settings, particularly in the Philippines. By synthesizing these studies, this paper identifies gaps in the current measurement approaches and argues for refining SEW indicators to better capture culturally grounded family business dynamics. The review also considers how SEW can serve as a useful lens in explaining successful succession in Filipino family firms. Finally, it highlights the need for more context-sensitive instruments to advance SEW research and strengthen understanding of family business continuity in emerging economies.



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