The Moderating Effect of Family-Ownership on Firm Performance: An Examination of Entrepreneurial Orientation and Social Capital

  • JEffery M. Campbell The University of South Carolina
  • Nathan Line The University of Tennessee, Knoxville
  • Rodney C. Runyan The University of Tennessee, Knoxville
  • Jane L. Swinney Oklahoma State University


Within the small business literature, a number of recent studies have examined the importance of entrepreneurial orientation (EO) and the development of social capital (SC) as each contributes to a firm's performance. While it is generally accepted in previous studies that each of these constructs positively affects firm performance, relatively less attention has been paid to potential moderating factors that can affect these relationships. The purpose of our research is to address one such moderator, family ownership. Using structural equation modeling (SEM) to test the moderating effect of family ownership on the relationships among entrepreneurial orientation, social capital, and firm performance, our results show that the effects of EO and SC vary depending upon whether the firm is family-owned or non-family owned. Implications of these findings and future research directions are provided.


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How to Cite
CAMPBELL, JEffery M. et al. The Moderating Effect of Family-Ownership on Firm Performance: An Examination of Entrepreneurial Orientation and Social Capital. Journal of Small Business Strategy, [S.l.], v. 21, n. 2, p. 27-46, may 2010. ISSN 2380-1751. Available at: <>. Date accessed: 22 apr. 2019.