Innovation in family firms: The relative effects of wealth concentration versus family-centered goals
Drawing on agency and behavioral perspectives, we disentangle two critical determinants of innovation strategies among family firms, namely, the family's wealth concentration in its business (WC) and the family's emphasis on family-centered goals. Our results from a survey of Australian fa...
| Autores: | , , |
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| Formato: | artículo |
| Fecha de publicación: | 2020 |
| País: | España |
| Recursos: | IE |
| Repositorio: | Repositorio IE |
| OAI Identifier: | oai:repositorio.ie.edu:20.500.14417/2891 |
| Acesso em linha: | https://doi.org/10.1177/0894486520953700 https://hdl.handle.net/20.500.14417/2891 |
| Access Level: | acceso abierto |
| Palavra-chave: | Family firm Innovation Socioemotional wealth Family-centered goals Wealth concentration 53 Ciencias Económicas::5311 Organización y dirección de empresas ODS 9 - Industria, innovación e infraestructura |
| Resumo: | Drawing on agency and behavioral perspectives, we disentangle two critical determinants of innovation strategies among family firms, namely, the family's wealth concentration in its business (WC) and the family's emphasis on family-centered goals. Our results from a survey of Australian family firms show opposite and completely independent effects of WC and family-centered non-economic goals (FCG-NE) on family firms' innovation strategies. While higher WC is negatively associated with firm innovation, a greater emphasis placed on FCG-NE has a positive impact, which seems to be the key determinant of innovation strategies in family firms. |
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