The Corporate Social Responsibility of Family Businesses: An International Approach
This study, based on Vigeo data, has been conducted by Gérard Hirigoyen and Thierry Poulain-Rehm. It analyzes the links between listed family businesses and social responsibility.
On a theoretical level, it establishes a relationship between socioemotional wealth, proactive stakeholder engagement, and the social responsibility of family businesses. On a practical level, the results (obtained from a sample of 363 companies) show that family businesses do not differ from non-family businesses in many dimensions of social responsibility. Moreover, family businesses have statistically significant lower ratings for four sub-dimensions of “corporate governance”, namely “balance of power and effectiveness of the Board”, “audit and control mechanisms”, “engagement with shareholders and shareholder structure”, and “executive compensation”.