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TRACK 4: FAMILY FIRMS AND THE NEW SUSTAINABILITY AGENDA

Track Chairs
Antonello Garzoni, LUM Giuseppe Degennaro University
Francesco Debellis, University of Vienna
Michele Posa, LUM Giuseppe Degennaro University
Ivano De Turi, LUM Giuseppe Degennaro University

Track Description
Family firms are increasingly recognized as pivotal actors in advancing the new sustainability agenda. Their distinctive ethical orientations, anchored in family values (Astrachan et al. 2020), socioemotional wealth (Gómez-Mejía et al., 2007) and local embeddedness (Hadjielias & Discua Cruz, 2024), shape how they address pressing global challenges related to climate change, circularity, biodiversity, and social equity. Yet, many antecedents, processes, and outcomes of ethical behavior in family firms remain insufficiently explored (Hadjielias et al., 2025).

The literature suggests that sustainability values can motivate family firms to act ethically toward society and the planet (Dieleman & Koning, 2020), but tensions among family influence, non-financial goals, and performance pressures may also compromise these (Ferasso et al. 2025). Specific governance mechanisms can lead to divergent outcomes. For instance, the presence of women directors and individual attributes such as familiness or marital status may shape firms’ sustainability orientations in distinct ways (Campopiano et al., 2023; Vastola et al., 2025).

This track invites theoretical, empirical, and methodological contributions that advance understanding of how ethical values, governance systems, and family dynamics influence sustainability-oriented behavior and the management of environmental and social challenges in family firms. Submissions are encouraged to integrate multiple levels of analysis, institutional, firm, family, and individual, and to link ethical determinants, processes, and outcomes.
Potential contributions may address, among others, the following research questions:

  • How do family values, socioemotional wealth goals, and intergenerational dynamics affect family firms’ ethical and sustainability practices?
  • How do ethical values at the family or individual level influence broader business outcomes such as performance, reputation, and succession?
  • How do external shocks, such as climate crises, pandemics, and digital or AI disruptions, affect ethical decision-making and sustainability strategies in family firms?
  • How do institutional logics and regulatory frameworks shape family firms’ capacity to act ethically and sustainably?
  • What role do family leadership characteristics and gender diversity in governance play in advancing sustainability agendas?
  • How does intergenerational change influence the evolution of ethical and sustainability-oriented governance practices?
  • How do family firms navigate the ethical challenges and opportunities of the twin transition, integrating digital transformation and environmental sustainability, while preserving socioemotional wealth and intergenerational responsibility?

Keywords
Family Firms; Governance; Intergenerational Dynamics; Sustainability

References
Astrachan, J. H., Binz Astrachan, C., Campopiano, G., & Baù, M. (2020). Values, spirituality and religion: Family business and the roots of sustainable ethical behavior. Journal of Business Ethics, 163(4), 637-645.
Campopiano, G., Gabaldón, P., & Gimenez-Jimenez, D. (2023). Women directors and corporate social performance: an integrative review of the literature and a future research agenda. Journal of Business Ethics, 182 (3), 717-746.
Dieleman, M., & Koning, J. (2020). Articulating values through identity work: Advancing family business ethics research. Journal of Business Ethics, 163(4), 675–687.
Ferasso, M., Beliaeva, T., Kraus, S., Jones, P., & Gössling, T. (2025). Family Business Ethics: A Literature Review and Research Agenda. Journal of Business Ethics, 1-19.
Gómez-Mejía, L. R., Haynes, K. T., Núñez-Nickel, M., Jacobson, K. J., & Moyano-Fuentes, J. (2007). Socioemotional wealth and business risks in family-controlled firms: Evidence from Spanish olive oil mills. Administrative Science Quarterly, 52(1), 106-137.
Hadjielias, E., De Massis, A., Christofi, M., Manika, D., & Brammer, S. (2025). Ethical issues in family business: Toward a deeper understanding and a new research agenda. Journal of Business Ethics, 198(4), 715-731.
Hadjielias, E., & Discua Cruz, A. (2024). Sustainable entrepreneurial behaviors of family members at the intersection of family firm, cooperative and rural community: a multilevel perspective. Entrepreneurship & Regional Development, 1-30.
Vastola, V., Campopiano, G., Debellis, F., & Cambrea, D. R. (2025). “If you like it Green, put a ring on it”: Married women directors and environmental performance in family and non-family businesses. Journal of Business Ethics, 1-17.