Sustainable innovation development in family firms – the role of socioemotional wealth

Purpose This article aims to investigate the process of sustainable innovation development in family firms from the socioemotional wealth perspective. Design/methodology/approach Utilizing the assumptions of socioemotional wealth theory and actor-network theory, a set of propositions indicating the future research directions is formulated. Findings The findings tentatively suggest that socioemotional wealth dimensions may affect sustainable innovation development in diverse ways. Specifically, the renewal of family bonds through dynastic succession may increase the probability of sustainable innovations development throughout the entire process, while family control may decrease this probability. The remaining three dimensions – family identity, binding social ties and emotional attachment – either increase or decrease the probability of sustainable innovation development, depending on the stage of the process. Originality/value The primary contribution is in explaining how socioemotional wealth dimensions influence sustainable innovation development in family firms.