Understanding the dynamics of psychological ownership and community embeddedness in family businesses: A case study Barker’s of Geraldine

Abstract

Family businesses are crucial in rural communities primarily due to their strong community embeddedness. However, existing literature lacks an in-depth understanding of the motivations and drivers behind this community embeddedness. This study explored the interconnections between psychological ownership, community embeddedness, and family businesses in rural communities and examined their practical implications. This study fills this gap by conducting an exploratory case study of Barker's of Geraldine, contributing to the literature by highlighting psychological ownership as a key motivation and driver for community embeddedness in family businesses. This research provides practical insights that guide policy and economic development initiatives in rural areas by investigating the link between psychological ownership and community embeddedness in rural family businesses.