The interplay between digital social capital and family-owned SME performance: a study of social media business networks

Pattanapong Tiwasing · Yoo Ri Kim · Sukanlaya Sawang

22 citations0/0 files storedJournal of Family Business Management

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Family Business Performance and Succession Entrepreneurship Studies and Influences Business Strategy and Innovation

Abstract

Purpose This paper aims to examine the relationship between being members of social media business networks and SME performance by comparing business performance between family-owned SMEs that are members and non-members of social media business networks. Design/methodology/approach The analysis empirically draws on cross-sectional data of 9,292 English and Welsh family-owned SMEs from the UK's Government Small Business Survey 2015. Propensity Score Matching (PSM) is applied to control for selection bias and differences in firm characteristics before comparing business performance, measured in terms of annual turnover, sales-growth intention and innovation between family-owned SMEs that are members and non-members of social media business networks. Findings The findings show that family-owned SMEs that are members of social media business networks are more likely to have higher prior turnover and to grow their sales than non-members. Also, they are more likely to report being innovative in products and processes than non-members. The empirical results acknowledge the importance of online business networks and digital social capital on enhanced family-owned business performance. Originality/value This paper is the first to explore the comparative analysis of business performance between family-owned SMEs that are members and non-members of social media business networks. This paper is important for the development of family business research by providing a comprehensive evidence-based analysis regarding the importance of online business networks to improve family-owned business performance, given the significant contribution of digital business activities to the UK economy.

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References

1973The Strength of Weak Ties 2011The Future of Resource-Based Theory 2000Bowling Alone: America’s Declining Social Capital 2013Understanding online firestorms: Negative word-of-mouth dynamics in social media networks 2015Factors influencing the use of social media by SMEs and its performance outcomes 2008Creating Value Across Generations in Family-Controlled Businesses: The Role of Family Social Capital 2018Social media adoption and its impact on firm performance: the case of the UAE 2017Shifting intra‐ and inter‐organizational innovation processes towards digital business: An empirical analysis of SMEs

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2025The family business in the digital era: advancing towards artificial intelligence 2024Social media usage and sustainable performance in manufacturing supply chains: exploring dynamic capabilities 2024Embracing the Digital Network: How Net-Entrepreneurs Acquire Online Social Capital?—A Mixed Empirical Study Based on SEM-PLS and fsQCA

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