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Purpose

This paper aims to embark on an exploration into the complex dynamics of family businesses by leveraging the theoretical frameworks of socioemotional wealth (SEW) and entrepreneurial orientation (EO) theories. Building on literature highlighting SEW’s role in motivating family firm owners, this study seeks to discern a consistently predictable relationship between SEW and family business sustainability (FBS) and analyze the parallel mediation effects of family commitment (FC) and EO in the SEW and FBS relationship.

Design/methodology/approach

This study employed a quantitative approach, utilizing a snowball sampling method to recruit 567 valid responses from family business stakeholders across North India. Partial least square (PLS)-structural equation modeling has been applied in this study using the latest version of SmartPLS 4.1.0.8 software to examine the objectives of the study.

Findings

The findings show that FC and EO mediate the SEW–FBS relationship. FC fosters long-term engagement, while EO drives innovation, both contributing to enhanced FBS.

Research limitations/implications

The study’s limitations include a region-specific sample, reliance on snowball sampling and focus on only two mediators – FC and EO. Future research could explore additional mediators, incorporate economic factors and use longitudinal or more diverse sampling methods for broader insights.

Practical implications

This study provides practical insights for family businesses to enhance sustainability by integrating emotional drivers, such as family identity and legacy, with entrepreneurial strategies like innovation and proactivity. Policymakers can use these findings to craft supportive policies, while family businesses can engage future generations and adapt to market changes for long-term success.

Originality/value

This study’s originality lies in combining SEW and EO theories, focusing on FC and EO as parallel mediators in the SEW–FBS relationship. It offers new insights into how family businesses balance emotional attachment with entrepreneurial actions for long-term sustainability.

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