The effect of socioemotional wealth on the competitive advantage and sustainable life in family businesses, the mediating role of innovation capability

In this research, the active role of the awareness regarding beliefs and values that are effective when family businesses -which carry great importance in the Turkish and glocal economy- are adopting a sustainable business approach, and the concept of socioemotional wealth (SEW), which is perceived as the non-economical values attained by the family due to its controlling position in the business, was examined. At the same time, the research has focused on heterogeneity in family businesses, dwelling on the concepts of competitive advantage and sustainable life, which are especially effective in shaping the situation of family businesses are an important source of entrepreneurship. Based on the results of literature research regarding the subject, in this research, the conceptual characteristics, innovation capabilities, competitive advantages and sustainable lives of family businesses operating in İstanbul in varying sizes from small enterprises to medium-sized enterprises and even large global enterprises were examined; 193 questionnaires were evaluated in line with the data received from İstanbul Chamber Of Industry as the target audience. The obtained data were analyzed using SPSS. As a result of the analysis, it has been seen that while SEW has a positive and meaningful effect on competitive advantage and sustainable business life, innovation capability has a partial mediation role. In this framework, it has been argued that SEW is a helpful construct for understanding the behavior of the family business; and as the family-related goals as reflected by SEW become more important for the business, family businesses have been shown to gain a competitive advantage with sustainable business longevity.