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The main objective of this manuscript is to describe the current situation of a sample of family business and their response to COVID-19 pandemic. This exploratory study analyzes a series of challenges faced by this type of firm in Latin America. This study puts special focus on how the pandemic is impacting transgenerational and family entrepreneurship and the sense of legacy in family businesses.

The authors performed an online survey during June–July 2020. The survey includes 20 questions to owners or executives of family businesses about how they had been facing the onslaught of the COVID-19 pandemic in their companies. The authors received 194 valid respondents from firms that have their headquarters in Mexico, Colombia, Venezuela, Peru, Chile and other Latin American countries.

The empirical analysis shows that family firms in Latin America have managed to survive and stay current through family entrepreneurship, protecting their heritage and relying on legacy. Out of four main competencies, “family entrepreneurship” was the most important on which business families relied to face this crisis.

The authors were able to gather information from just under 300 participants. However, the authors decided to take into account only those complete responses in the survey, so the present analysis was carried out on the valid sample of 194 respondents.

The results of this study show that business families have managed to survive and stay current through family entrepreneurship, protecting their heritage and relying on legacy. Strategic leadership and intergenerational dynamics alone are not enough to face this crisis.

Family firms, like other companies, have shifted their mindset over the last months from “how can we grow” to “how can we survive”. Consequently, what competencies are necessary to develop so that family businesses can cope with this and the following crises? How are Mexico and Latin America’s family-owned businesses navigating the economic disruptions resulting from COVID-19? This paper explores the role of family firms in the wake of the COVID-19 outbreak.

This study provides an overview of the coping mechanisms that some family businesses are implementing to overcome the challenges during the pandemic, putting focus on the specific context of Latin America. Family businesses represent approximately 60% of the region’s GDP, so their survival is completely relevant in terms of not only economic impact but also social development. Future research and implications are discussed.

Research in managerial cognition has proved the influence of managerial perceptions in strategic renewal. Moreover, contingency theory argues that strategic renewal is an organisational reaction to perceived contingencies. Nevertheless, previous literature has rarely examined the interaction of these two theoretical approaches in the context of perceived gender issues. This paper explores how managers' perceptions of gender issues and stakeholder pressure, independently and in combination, influence organisations’ strategic renewal.

This study collected quantitative data through an online survey sent to managers in Sweden. The final sample consisted of 101 valid responses examined using linear regression analysis. This analysis consisted of three models. Two models examined the direct impact of perceptions of gender issues and stakeholder pressure on strategic renewal, while a third model investigated their interactive effect.

The regression analysis showed a positive relationship between managers’ perceptions of gender issues and strategic renewal. Moreover, stakeholder pressure experienced by managers was positively associated with strategic renewal, and the interaction between the perception of gender issues and strategic renewal did not significantly influence strategic renewal.

The results provide at least three theoretical contributions, demonstrating the importance of managerial cognition in strategic renewal through the lens of perceived gender issues. Also, the results show that the interaction of perception of gender issues and stakeholder pressure does not automatically translate into strategic renewal, highlighting more complexity than generally assumed. Finally, our findings underscore the significance of perceived gender issues, even within a context widely regarded as advanced in gender equality, such as Sweden, thereby adding value and relevance to the research.

The type of social capital among families involved in business, or family social capital, has both positive and negative effects on family firms. This paper aims to investigate the mediating role of social relationships of family business members between socioemotional wealth (SEW) and firms' entrepreneurial orientation.

The authors applied a survey conducted in the four main cities in Mexico. The sample consisted of 360 small and medium enterprise (SMEs). This study's research framework and hypothesis were tested using regression analysis and the structural equation modeling technique.

This study finds that not only does SEW strongly influence the entrepreneurial orientation of family firms, but this influence is also mediated by the capability of such families to develop their social capital.

The results show the perspective of one person in the company. Though it is the person with the highest rank and presumably the person who thoroughly knows the company, there is always a possibility of bias, which may inflate the results presented in this paper.

Based on this study's results, family firms should continuously improve their entrepreneurial abilities to achieve sustainable competitive advantage. In addition, their unique family-related characteristics further enhance these strategic approaches' positive effects on relational capital development.

This work contributes to the academic literature on entrepreneurship and social capital. As a mediator between SEW and entrepreneurial orientation, family relational capital has been under-researched. The results of this study reveal significant implications for networking management and relational capital strategies for SMEs.

Las relaciones y conexiones de las familias involucradas en los negocios, o capital social familiar, tienen efectos tanto positivos como negativos en las empresas familiares. Este artículo investiga el papel mediador de las relaciones sociales de los miembros de la empresa familiar entre la riqueza socioemocional y la orientación empresarial de las empresas.

Se aplicó una encuesta realizada en las cuatro principales ciudades de México. La muestra estuvo compuesta por 360 pymes. El marco de investigación y la hipótesis de este estudio se probaron mediante análisis de regresión y la técnica Structural Equation Modeling (SEM).

Nuestro estudio encuentra que la riqueza socioemocional no solo influye fuertemente en la orientación emprendedora de las empresas familiares, sino que este factor también está mediado por la capacidad de dichas familias para desarrollar su capital social.

Este trabajo contribuye a la literatura académica sobre emprendimiento y capital social. Como mediador entre la riqueza socioemocional y la orientación emprendedora, el capital relacional familiar ha sido poco investigado. Nuestros resultados revelan implicaciones significativas para la gestión de redes y las estrategias de capital relacional para las Pymes.

As relações e conexões das famílias envolvidas nos negócios, ou capital social familiar, têm efeitos positivos e negativos nas empresas familiares. Este artigo investiga o papel mediador das relações sociais dos membros da empresa familiar entre a riqueza socioemocional e a orientação empreendedora das empresas.

Foi aplicado um inquérito realizado nas quatro principais cidades do México. A amostra foi constituída por 360 PME. A estrutura de pesquisa e a hipótese deste estudo foram testadas usando análise de regressão e a técnica de Modelagem de Equações Estruturais (SEM).

Nosso estudo conclui que a riqueza socioemocional não apenas influencia fortemente a orientação empreendedora das empresas familiares, mas que esse fator também é mediado pela capacidade dessas famílias de desenvolver seu capital social.

Este trabalho contribui para a literatura acadêmica sobre empreendedorismo e capital social. Como mediador entre a riqueza socioemocional e a orientação empreendedora, o capital relacional familiar tem recebido pouca pesquisa. Nossos resultados revelam implicações significativas para a gestão de rede e estratégias de capital relacional para PMEs.