The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business
This article addresses the problem of succession in family farms in a context of generational change. Family businesses are characterized by their long-term orientation and by having a positive effect through environmental goals that remain in place generation after generation. The general increase...
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| Format: | Article |
| Language: | English |
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MDPI AG
2021-06-01
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| Series: | Agriculture |
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| Online Access: | https://www.mdpi.com/2077-0472/11/6/520 |
| _version_ | 1827690736399679488 |
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| author | Manel Plana-Farran José Luis Gallizo |
| author_facet | Manel Plana-Farran José Luis Gallizo |
| author_sort | Manel Plana-Farran |
| collection | DOAJ |
| description | This article addresses the problem of succession in family farms in a context of generational change. Family businesses are characterized by their long-term orientation and by having a positive effect through environmental goals that remain in place generation after generation. The general increase in average age among farmers is seen as a barrier to more sustainable land use, and the survival of family farming therefore depends on the availability of a successor in the family. Socioemotional wealth (hereafter, SEW) is understood as the affective endowment of family members. This study adopts the SEW dimensions conceptually validated to analyse the effects of psychological and socioeconomic factors on potential successors’ intentions. The results of a survey administered to students attending agricultural schools in Catalonia show that intentions to assume the management and ownership of the family farm increase in line with individuals’ interest in creating their own business, their ability to take over the farm, and their emotional inclination to continue the family legacy. In addition, SEW was measured in relation to the potential successor and not the incumbent, as has typically been the case in previous work, bringing this important research subject as a principal actor. Finally, an empirical validation of a short FIBER scale, i.e., REI scale, was obtained that relates individuals’ intentions to succeed the family farm to the socioemotional wealth of business families, testing suitability of the REI scale as a measure of intention to succeed. |
| first_indexed | 2024-03-10T10:45:16Z |
| format | Article |
| id | doaj.art-cdee2f56fd714f8dae7ed051d507cce8 |
| institution | Directory Open Access Journal |
| issn | 2077-0472 |
| language | English |
| last_indexed | 2024-03-10T10:45:16Z |
| publishDate | 2021-06-01 |
| publisher | MDPI AG |
| record_format | Article |
| series | Agriculture |
| spelling | doaj.art-cdee2f56fd714f8dae7ed051d507cce82023-11-21T22:39:47ZengMDPI AGAgriculture2077-04722021-06-0111652010.3390/agriculture11060520The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the BusinessManel Plana-Farran0José Luis Gallizo1Faculty of Law, Economics and Tourism, Universitat de Lleida, 25001 Lleida, SpainFaculty of Law, Economics and Tourism, Universitat de Lleida, 25001 Lleida, SpainThis article addresses the problem of succession in family farms in a context of generational change. Family businesses are characterized by their long-term orientation and by having a positive effect through environmental goals that remain in place generation after generation. The general increase in average age among farmers is seen as a barrier to more sustainable land use, and the survival of family farming therefore depends on the availability of a successor in the family. Socioemotional wealth (hereafter, SEW) is understood as the affective endowment of family members. This study adopts the SEW dimensions conceptually validated to analyse the effects of psychological and socioeconomic factors on potential successors’ intentions. The results of a survey administered to students attending agricultural schools in Catalonia show that intentions to assume the management and ownership of the family farm increase in line with individuals’ interest in creating their own business, their ability to take over the farm, and their emotional inclination to continue the family legacy. In addition, SEW was measured in relation to the potential successor and not the incumbent, as has typically been the case in previous work, bringing this important research subject as a principal actor. Finally, an empirical validation of a short FIBER scale, i.e., REI scale, was obtained that relates individuals’ intentions to succeed the family farm to the socioemotional wealth of business families, testing suitability of the REI scale as a measure of intention to succeed.https://www.mdpi.com/2077-0472/11/6/520family farmssuccessioncontinuitysocioemotional wealth |
| spellingShingle | Manel Plana-Farran José Luis Gallizo The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business Agriculture family farms succession continuity socioemotional wealth |
| title | The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business |
| title_full | The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business |
| title_fullStr | The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business |
| title_full_unstemmed | The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business |
| title_short | The Survival of Family Farms: Socioemotional Wealth (SEW) and Factors Affecting Intention to Continue the Business |
| title_sort | survival of family farms socioemotional wealth sew and factors affecting intention to continue the business |
| topic | family farms succession continuity socioemotional wealth |
| url | https://www.mdpi.com/2077-0472/11/6/520 |
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