Cultural Factors that Positively and Negatively Impact Corporate Governance: Cases of Family-Controlled Firms in Brazil

This exploratory study evaluated the relationship between Human Resources (HR) practices, organizational climate, and employee well‐being from the lens of the Social Exchange Theory. Therefore, data were analyzed using linear regression and structural equations. The results indicated that there is a positive impact of HR practices on both the organizational climate and employee well‐being, as well as the organizational climate on well‐being. However, the explanatory power of well‐being was low, indicating the need for more customized human resources management. Additionally, HR practices and organizational climate sensitize well‐being to a greater extent among women than men, suggesting that women may be able to absorb better the benefits of a friendly and contributory work environment. The study contributes to knowledge in people management oriented towards the well‐being of employees.