An organizational economics approach on the pursuit of socioemotional and financial wealth in family firms

The purpose of this study is to analyze the contribution of the paper by Martin and Gomez-Mejia and propose complementary approaches and ways to test their hypotheses. This study compares different theoretical approaches that complement socioemotional wealth to explain manager's decisions and firm performance. The authors of this study argue that progress could be achieved by combining Martin and Gomez-Mejia's propositions with elements of existing organizational theories that are grounded on economics such as the resource-based view, transactional cost and property rights. This study provides a new perspective of the work of Martin and Gomez-Mejia published in this issue.