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This research examines how commitment, long-term orientation, and distinctive family business traits resulting from family ownership affect internationalization by studying two unique and long-lasting firms with family and non-family ownership structures. Drawing upon arguments from international business studies and family business research, we have identified various entrepreneurial motivations and derived a framework that expands our knowledge on how commitment, long-term orientation and specific differences between family and non-family firms impact their international expansion. Our results indicate that family firms generate social capital, experience, and knowledge in an international context to sustain and maximize their advantages better than non-family firms. [ABSTRACT FROM AUTHOR]

This study sheds light on how socioemotional wealth (SEW) theory functions in family firms. Focusing on the impact of the most highly appraised FIBER dimensions on the performance of such firms, we contextualize SEW by discussing the heterogeneity among family principals via the under‐researched role played by specific characteristics of family CEOs. Integrating arguments from SEW and generational theory, we test our theoretical hypotheses using global survey data from a sample of 1833 family firms from 33 countries. The main findings suggest that while family control and influence is not associated with performance, family members' identification with the firm (FI) improves performance. Moreover, the positive impact of FI on family firm performance weakens in family firms with long‐tenured family CEOs. Finally, in family firms led by Millennial CEOs, the positive impact of FI on family firm performance is stronger. Our findings enrich both the theoretical insights into and practical comprehension of SEW priorities in relation to family firm performance, thereby underscoring the diverse performance outcomes associated with various types of family CEOs. [ABSTRACT FROM AUTHOR]

From a mixed gamble perspective, we contend that family firms (FFs) with different family shareholder structures are confronted with different trade-offs among current and prospective financial and socioemotional wealth (SEW), leading to differences in their international acquisition choices. We also explore the moderating role of family leadership and performance aspirations. Our findings show that FFs with a dominant family owner are more likely to pursue international acquisitions, especially when FFs are led by a family CEO or when they experience below-target performance, as in such cases, they prioritize prospective financial and SEW gains, thereby sacrificing current SEW and financial wealth. [ABSTRACT FROM AUTHOR]