Untangling the threads: Exploring the non-financial constructs in family firms

We introduce a theory-based process-oriented framework that untangles the connections between socioemotional wealth (SEW), socioemotional wealth importance (SEWi), and family-centered non-economic (FCNE) goals in family firms. Drawing on a microfoundations perspective and principles of goal-setting theory, our framework clarifies the distinct nature of SEW, SEWi, and FCNE goals and how they relate to one another. By linking micro and macro phenomena, we enhance the understanding of the relationship between family needs and organizational behavior, advancing theory in the field and aiding comprehensive research methodologies in family firms.