This qualitative study sheds light on the nexus between social capital resources and CEO perceptions of competitive advantages and disadvantages in family firms. Drawing on a rich body of empirical evidence, the analysis shows that CEO perceptions differ depending on the owner-family’s degree of emotional attachment to or detachment from the business, emphasizing how the interactions between the family and the business system play a key role in shaping the CEO’s perceptions of competitive advantages and disadvantages in a family firm. Keywords: f