Vulnerability is a defining and fundamental but under-researched, quality of many family firms. We define family vulnerability (FV) as the degree to which family owners and executives realistically perceive that they and their firms are susceptible to material and socioemotional losses from their ventures. Building on social exchange theory, we offer a model that specifies conditions by which FV allows family firm owner-managers to establish mutually beneficial and enduring relationships with prospective resource providers. These relationships improve strategic options for such parties who gain support when they most need it and are more committed and loyal to those who provide it, thereby engendering goodwill and social capital.

脆弱性是许多家族企业的定义性和基本但研究不足的品质。我们将家族脆弱性 (FV) 定义为家族所有者和高管现实地认为他们和他们的公司容易受到他们的企业造成的物质和社会情感损失的程度。基于社会交换理论，我们提供了一个模型，该模型指定了 FV 允许家族企业所有者-经理与潜在资源提供者建立互利和持久的关系的条件。这些关系改善了在最需要支持时获得支持的各方的战略选择，并且对提供支持的人更加忠诚和忠诚，从而产生善意和社会资本。