Innovative capacity and socioemotional wealth as determinants of the well-being of family CEOs

Abstract This study examines the impact of innovative capacity and socioemotional wealth (SEW) on the well-being of CEOs in family businesses. Due to the critical role of family firms in global economies, this study integrates the dynamic capabilities framework with the SEW theory to explore their combined effects. Using a quantitative methodology, data were collected from 120 CEOs of Spanish family businesses through a structured survey. Results confirmed that innovative capacity positively influences the well-being of CEOs by enhancing organisational adaptability and competitive advantage. Additionally, SEW, encompassing emotional attachment, identity, and legacy, contributes significantly to CEO satisfaction. Moreover, SEW moderates the relationship between innovation and well-being, amplifying its positive effects. These findings highlight the need for family firms to balance economic and non-economic goals, fostering both innovation and emotional resilience. This study advances the studies on family businesses by integrating psychological and strategic management perspectives, offering insights for sustainable leadership development.