Purpose: The unique management practices of family businesses, particularly in the areas of resource management and the active involvement of family members, have attracted substantial research interest. These traits set them apart from non-family enterprises. This study presents a systematic literature review of the key success factors for family firms in Asia, examining the resource-based view (RBV) and socio-emotional wealth (SEW) within the context of these businesses. Design/methodology/approach: The authors utilized bibliometric, co-citation, and cluster analysis techniques to examine patterns among the cited articles. Hierarchical cluster analysis was applied to group interrelated articles into distinct sets based on co-citation analysis. Network and cluster determination theories were used to visually map the bibliographic co-citation analysis. The Scopus database is the most important main source for this research. Findings: The findings facilitated the identification and categorization of different theoretical perspectives concerning family firm performance into five primary factors: (1) financial management; (2) succession planning (3) innovation and adaptation; (4) leadership and governance; and (5) cultural values and family dynamics
Research limitations/implications: : By systematically analyzing qualitative insights extracted from scholarly journal articles indexed in reputable databases Scopus, our review is focused on the years 2000 to 2024, covering a span of twenty-four years and encompassing a total of 110 documents. Practical implications: We present a conceptual framework grounded in RBV theory and socio-emotional wealth (SEW) that delineates these factors and suggest future research avenues to deepen our understanding of this critical area. Originality/value: This study identifies, examines, analyzes, and summarizes the key themes, contributing to the existing literature by highlighting priority areas for family businesses in Asia that can ensure success in resource management and social capital compared to their competitors.
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