DOES CEOS’ PRIOR EXPERIENCE IN GLOBAL JOURNAL OF FAMILY CRISES MATTER FOR FAMILY FIRMS IN THEIR NEXT CRISIS? EMOTIONAL AND RATIONAL ADVANTAGES ACROSS CULTURAL CONTEXTS
- Authors: María Iborra, University of Valencia José Fernando López-Muñoz, ESIC Business & Marketing School Vicente Safón, University of Valencia & Ivie Members of the STEER research group (Strategy, Top Executi- ves, ESG and Resiliency) and collaborators of the Chair of Family-Owned Business (CEFUV) (2025).
- Publication types: Recurs electrònic
- URL Publication: DOES CEOS’ PRIOR EXPERIENCE IN GLOBAL JOURNAL OF FAMILY CRISES MATTER FOR FAMILY FIRMS IN THEIR NEXT CRISIS? EMOTIONAL AND RATIONAL ADVANTAGES ACROSS CULTURAL CONTEXTS
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Abstract:
This research note analyses why some family businesses manage to adapt better during global crises. The proposition is clear: having a CEO who has successfully dealt with a previous crisis, such as the one in 2008, can improve the company's performance in new situations of uncertainty, such as COVID-19. Two types of advantages are identified: a rational one, related to a greater ability to drive digital transformation and align strategy with the changing environment, and an emotional one, based on reinforcing the family's identification with the company thanks to that previous experience. Moreover, the impact of the CEO varies according to the cultural context: it is stronger in countries with individualistic cultures, where individual leadership has greater weight.
