The Role of Social Initiatives in the Financial Success of Family Businesses

Sustainability and business success require ongoing analysis of variables that can impact the stability, efficiency, and evolution of family businesses. To this end, a study based on the environmental, social, and governmental (ESG) variables linked to financial performance was conducted on 93 publi...

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Detalhes bibliográficos
Autores: Ramírez Orellana, Alicia|||0000-0001-6716-1560, Giralt Escobar, Silvia|||0000-0003-3438-3460, Blanco González-Tejero, Cristina|||0000-0002-4039-2278
Formato: artículo
Fecha de publicación:2024
País:España
Recursos:Universidad de Alcalá (UAH)
Repositorio:e_Buah Biblioteca Digital Universidad de Alcalá
Idioma:inglés
OAI Identifier:oai:ebuah.uah.es:10017/65160
Acesso em linha:http://hdl.handle.net/10017/65160
https://dx.doi.org/10.1002/csr.3093
Access Level:acceso abierto
Palavra-chave:CSR
ESG
Family business
Financial performance
Retail and consumer markets
Economía
Empresa
Economics
Management science
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repository_id_str
spelling The Role of Social Initiatives in the Financial Success of Family BusinessesRamírez Orellana, Alicia|||0000-0001-6716-1560Giralt Escobar, Silvia|||0000-0003-3438-3460Blanco González-Tejero, Cristina|||0000-0002-4039-2278CSRESGFamily businessFinancial performanceRetail and consumer marketsEconomíaEmpresaEconomicsManagement scienceSustainability and business success require ongoing analysis of variables that can impact the stability, efficiency, and evolution of family businesses. To this end, a study based on the environmental, social, and governmental (ESG) variables linked to financial performance was conducted on 93 publicly traded family businesses in the global retail and consumer markets sector in 2023, utilizing data from Thomson Reuters Eikon. Control variables, such as company size, number of employees, and indebtedness, were incorporated. The methodology employed involved a partial least squares structural equation modeling (PLS-SEM) using SmartPLS. This analysis underscores the importance of social initiatives in enhancing financial outcomes for family businesses in the retail and consumer markets sector above the rest of the selected key variables. The originality of this research lies in its distinctive focus on the social dimension as the primary factor influencing the financial outcomes of family businesses. By highlighting the importance of social initiatives, the study provides an empirical basis that enables academics and business leaders to consider key variables in business development. This facilitates the design of strategies centered on these elements, contributing to the advancement of knowledge in the management of family businesses and their long-term sustainability.20242024-12-19journal articlehttp://purl.org/coar/resource_type/c_6501NAhttp://purl.org/coar/version/c_be7fb7dd8ff6fe43info:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10017/65160https://dx.doi.org/10.1002/csr.3093reponame:e_Buah Biblioteca Digital Universidad de Alcaláinstname:Universidad de Alcalá (UAH)Inglésengopen accesshttp://purl.org/coar/access_right/c_abf2Attribution-NonCommercial-NoDerivatives 4.0 Internationalhttp://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessoai:ebuah.uah.es:10017/651602026-06-18T11:13:07Z
dc.title.none.fl_str_mv The Role of Social Initiatives in the Financial Success of Family Businesses
title The Role of Social Initiatives in the Financial Success of Family Businesses
spellingShingle The Role of Social Initiatives in the Financial Success of Family Businesses
Ramírez Orellana, Alicia|||0000-0001-6716-1560
CSR
ESG
Family business
Financial performance
Retail and consumer markets
Economía
Empresa
Economics
Management science
title_short The Role of Social Initiatives in the Financial Success of Family Businesses
title_full The Role of Social Initiatives in the Financial Success of Family Businesses
title_fullStr The Role of Social Initiatives in the Financial Success of Family Businesses
title_full_unstemmed The Role of Social Initiatives in the Financial Success of Family Businesses
title_sort The Role of Social Initiatives in the Financial Success of Family Businesses
dc.creator.none.fl_str_mv Ramírez Orellana, Alicia|||0000-0001-6716-1560
Giralt Escobar, Silvia|||0000-0003-3438-3460
Blanco González-Tejero, Cristina|||0000-0002-4039-2278
author Ramírez Orellana, Alicia|||0000-0001-6716-1560
author_facet Ramírez Orellana, Alicia|||0000-0001-6716-1560
Giralt Escobar, Silvia|||0000-0003-3438-3460
Blanco González-Tejero, Cristina|||0000-0002-4039-2278
author_role author
author2 Giralt Escobar, Silvia|||0000-0003-3438-3460
Blanco González-Tejero, Cristina|||0000-0002-4039-2278
author2_role author
author
dc.subject.none.fl_str_mv CSR
ESG
Family business
Financial performance
Retail and consumer markets
Economía
Empresa
Economics
Management science
topic CSR
ESG
Family business
Financial performance
Retail and consumer markets
Economía
Empresa
Economics
Management science
description Sustainability and business success require ongoing analysis of variables that can impact the stability, efficiency, and evolution of family businesses. To this end, a study based on the environmental, social, and governmental (ESG) variables linked to financial performance was conducted on 93 publicly traded family businesses in the global retail and consumer markets sector in 2023, utilizing data from Thomson Reuters Eikon. Control variables, such as company size, number of employees, and indebtedness, were incorporated. The methodology employed involved a partial least squares structural equation modeling (PLS-SEM) using SmartPLS. This analysis underscores the importance of social initiatives in enhancing financial outcomes for family businesses in the retail and consumer markets sector above the rest of the selected key variables. The originality of this research lies in its distinctive focus on the social dimension as the primary factor influencing the financial outcomes of family businesses. By highlighting the importance of social initiatives, the study provides an empirical basis that enables academics and business leaders to consider key variables in business development. This facilitates the design of strategies centered on these elements, contributing to the advancement of knowledge in the management of family businesses and their long-term sustainability.
publishDate 2024
dc.date.none.fl_str_mv 2024
2024-12-19
dc.type.none.fl_str_mv journal article
http://purl.org/coar/resource_type/c_6501
NA
http://purl.org/coar/version/c_be7fb7dd8ff6fe43
dc.type.openaire.fl_str_mv info:eu-repo/semantics/article
format article
dc.identifier.none.fl_str_mv http://hdl.handle.net/10017/65160
https://dx.doi.org/10.1002/csr.3093
url http://hdl.handle.net/10017/65160
https://dx.doi.org/10.1002/csr.3093
dc.language.none.fl_str_mv Inglés
eng
language_invalid_str_mv Inglés
language eng
dc.rights.none.fl_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
dc.rights.openaire.fl_str_mv info:eu-repo/semantics/openAccess
rights_invalid_str_mv open access
http://purl.org/coar/access_right/c_abf2
Attribution-NonCommercial-NoDerivatives 4.0 International
http://creativecommons.org/licenses/by-nc-nd/4.0/
eu_rights_str_mv openAccess
dc.format.none.fl_str_mv application/pdf
dc.source.none.fl_str_mv reponame:e_Buah Biblioteca Digital Universidad de Alcalá
instname:Universidad de Alcalá (UAH)
instname_str Universidad de Alcalá (UAH)
reponame_str e_Buah Biblioteca Digital Universidad de Alcalá
collection e_Buah Biblioteca Digital Universidad de Alcalá
repository.name.fl_str_mv
repository.mail.fl_str_mv
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