SOCIAL INNOVATION TO ETERNIZE GENIUS IN LUXURY FAMILY FIRMS: EXPLORING THE ROLE OF TERRITORIAL VALUES AND PERSONALITY TRAITS

Territorial values impact the psychology of family business members, and vice versa, from the genius of a place to the family genius, and back. This connection spreads to the territorial actors, these last perceived as an extended family with the same psychological traits and values. Locally-based corporate social innovation activities are the main way a business can take care about its territory, by preserving both its psychological and economics values. We use the Socio-Emotional Wealth (SEW) perspective to explain the partaking between a family business and its territory, and we apply the HEXACO personality and Schwartz's personal values scales to highlight analogies and differences between personality traits, values, and emotions of family firms and their territories. We present a case study based on a successful Italian luxury firm, using its genii to defend income and culture from a growing global industry. Mots clef Territorial personality – Family values – Personality scale – Family business – Luxury –Socioemotional wealth Abstract Territorial values impact the psychology of family business members, and vice versa, from the genius of a place to the family genius, and back. This connection spreads to the territorial actors, these last perceived as an extended family with the same psychological traits and values. Locally-based corporate social innovation activities are the main way a business can take care about its territory, by preserving both its psychological and economics values. We use the Socio-Emotional Wealth (SEW) perspective to explain the partaking between a family business and its territory, and we apply the Five Factor Model of personality and the Schwartz Value Survey to highlight analogies and differences between personality traits, values, and emotions of family firms and their territories. We present a case study based on a successful Italian luxury firm, using its genii to defend income and culture from a growing global industry.