Family Firms and CSR in Latin America: Inside Practices vs Visible Initiatives

What is it about?

Study of 315 Latin American listed firms (2019–2023): family ownership shapes CSR composition. Non-family firms lead in internal, capability-heavy CSR; external CSR is similar, suggesting a visibility–capability trade-off.

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Photo by Roberto Huczek on Unsplash

Photo by Roberto Huczek on Unsplash

Why is it important?

This study shows that CSR is not one thing: where firms invest (internal vs. external initiatives) can differ by ownership and explain why past family-firm CSR results appear inconsistent. By separating internal from external CSR, it highlights a practical risk: firms may appear responsible through visible programs while underinvesting in the operational capabilities that sustain real social and environmental performance. For owners, boards, investors, and policymakers in emerging markets, this offers an actionable way to assess CSR quality and target improvement.