Family firms’ internationalization: a pathway to long-term legitimacy

Purpose Based on the socioemotional wealth (SEW) perspective, this paper aims to focus on the mixed-gamble logic to study the process of internationalization of family firms. Design/methodology/approach The qualitative multiple case study is based on four longitudinal Irish case studies. Findings This study proposes that family leaders assess potential SEW gains and losses when facing international strategic decisions. Findings show that family firms build legacy through international practices and, subsequently, gain long-term legitimacy, defined as the transgenerational status and credibility obtained by their family leaders. Practical implications Given the importance of international practices for the achievement of legacy, and ultimately legitimacy, practitioners should be aware of the critical role that internationalization could play. Originality/value The study develops a framework that contributes to a more fine-grained understanding of the internationalization process of family firms.