Is non-family social capital also (or <i>especially</i>) important for family firm performance?

Abstract

This article reports on a study investigating the effects of both family and non-family social capital on firm performance. Specifically, we contend that non-family social capital has a stronger effect on firm performance than family social capital and it also serves as a mediator between family social capital and firm performance. Using a sample of 172 Spanish family firms that includes two respondents per firm, we test a structural model that confirms our hypotheses. Our results extend the understanding of social capital beyond family firms by exploring both family- and non-family-based social relationships in a context in which social factors are predominant.