Socio-emotional Wealth, while Family Conflict and Family Firm Governance Both Exist in Family Business

This study examines how family conflict and family firm governance affect socio-emotional wealth, with decision-making as a mediating variable. This research was carried out on 48 samples of individual family members, as well as business owners and managers to examine the perception of socio-emotional wealth. The method used in this research is quantitative, with PLS-SEM. The results show that family conflict has a negative but not significant effect on decision-making and socio-emotional wealth, and decision-making has a positive and significant effect on socio-emotional wealth, while family firm governance has a significant positive effect on decision-making and socio-emotional wealth. Meanwhile, decision-making has a low mediation effect in explaining the relationship between family firm governance and socio-emotional wealth.

Keywords: Family conflict, family firm governance, decision-making, socio-emotional wealth, family business