Managing with <scp>CARE</scp> : Family‐Level Outcomes of Environmental, Social, and Governance Practices in Family Firms

ABSTRACT ESG practices offer various benefits for family firms; however, there has been limited focus on how these practices can specifically advantage the owning family. To address this gap, we conduct a multiple‐case study of six Italian family firms. Responding to recent calls for research (Stock et al., 2024) and building on the growing literature on ESG in family business, we adopt the family as the primary unit of analysis and investigate the outcomes that the owning family derives from the firm's ESG practices. Our findings reveal that engagement in ESG fosters a set of interrelated, family‐level outcomes. We conceptualize these outcomes as Continuity, Alignment, Relationships, and Ethics (summarized as C.A.R.E.), four concepts that are reinforced, nurtured, and developed through sustained ESG engagement. These concepts together function as key intangible resources that contribute to the long‐term success of family businesses.