Determinants of Sustainability Maturity in Family Businesses

Background: Previous research on sustainability has shown that several growing problems-environmental ones related to the uneven implementation of climate protection requirements worldwide; economic ones related to the instability of markets; and finally social ones perceived through the uneven distribution of wealth in different parts of the world (globally) and regions related to political and economic instability-particularly affect family firms because of their need for intergenerational continuity. Methods: The aim of our study is to enrich research by defining the factors that determine the maturity level of family firms in terms of sustainability. Given the scarcity of a general sustainability maturity model for family firms, we propose a model that allows for the comprehensive assessment of a family firm's sustainability maturity. Results: This study examined the sustainability maturity of family firms and identified its determinants in this sector. The results show that family firms often reach the first level of sustainability maturity, but the highest level remains unattainable for them. The determining factor for a high level of sustainability maturity is the number of employees, while the main inhibiting factor is market experience. The overall conclusion leads us to believe that a high level of sustainability maturity can be achieved by a family-owned company with a manufacturing profile, a large payroll, and 30 years of operational experience. Conclusions: The overall findings lead us to conclude that a high level of sustainability maturity can be achieved by a family-owned company with a manufacturing profile, a large payroll, and 30 years of operational experience in the global market, where long-term decisions are made by experts.