Family climate and benevolence among top management team members as factors in the stakeholder orientation of family firms

Abstract

Based on the literature on familiness and family climate, stakeholder management and the emotional dimension of trust, we analyze how family climate influences the orientation towards stakeholders in the decision-making process in family firms. Data were obtained from 374 members of the top management teams in 173 Spanish family firms. Results show that family climate directly influences stakeholder orientation. There is also an indirect influence due to the effect that family climate has on the dynamics of the top management team, particularly on the level of benevolence between its members. The study makes several contributions both to the literature on the different fields of reference and to the management of family firms.