Since its conceptualization by Gomez-Meija et al. (2007), the SEW perspective has gained a prominent place in family business studies. Despite the growing interest of scholars, however, there are several theoretical gaps in the literature that need to be addressed. The COVID-19 has also caused several drastic changes in family firm dynamics. The purpose of this study, hence, is to identify the gaps and consequently, draw future directions for scholars. For this purpose, a systematic literature review (SLR) is adopted where studies published from 2007 till 2020 are reviewed using selected keywords. The findings of SLR reveal six research gaps that can be explored by future researchers.