Drawing on the resource-based view of the firm, this study investigates the relationship between human capital (employees' experience, knowledge and technical skills, managerial talent) and innovativeness (propensity to innovate) in a sample of 478 family firms taken from a crosscountry dataset (STEP Project). Furthermore, we consider the moderating effect of the proportion of family members sitting on the board of directors (family board ratio). The main findings highlight that there is a positive relationship between human capital and family firm innovativeness. Moreover, family board ratio positively moderates the relationship between human capital and innovativeness in such a way that when the family board ratio is high, the relationship between human capital and innovativeness is stronger. This result is weaker when multiple family generations are actively involved in the firm. In summary, family members sitting on the board of directors focus more attention on people and for this reason, play an important strategic leadership role in valorizing human capital that fosters more innovativeness.

We explore the gendered impact of risk aversion and country-level culture on nascent student entrepreneurs’ progress in the venturing process. Combining country-level cultural normative variables from the 2004 Global Leadership and Organizational Behavior Effectiveness (GLOBE) survey with data from the 2013/2014 Global University Entrepreneurial Student Spirit Study (GUESSS), our sample consists of 1552 nascent student entrepreneurs from 11 countries. We start with the assumption that perceptions of risk-taking behaviors are not gendered. We then split our sample, finding that, for women, perceptions of risk-taking behaviors are associated with less progress in the venturing process; however, starting a new venture in a socially supportive culture moderates that relationship. For men, neither risk-taking behavior nor country cultural variables are related to their progress in the venturing process. Our study highlights both the importance of country-level contextual variables in entrepreneurship and the need to employ a gendered perspective when studying nascent entrepreneurship.

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This article draws upon institutional theory to investigate whether and to what extent informal institutions (masculinity, power distance, individualism, and indulgence) affect the relationship between formal institutions (the public expenditure on childcare and the length of parental leave) and the likelihood that women will become entrepreneurs. The main findings show that societies characterized by high masculinity and/or low individualism amplify the relationship between the public expenditure on childcare and the likelihood that women will become entrepreneurs. Instead, high-indulgent societies weaken the negative relationship between the length of parental leave and the likelihood that women will become entrepreneurs. We provide a nuanced picture of women's entrepreneurship by considering the neglected role of informal institutions. Resumen Partiendo de la teoría institucional, en este artículo se analiza en qué medida las instituciones informales (masculinidad, distancia al poder, individualismo e indulgencia) afectan la relación entre las instituciones formales (gasto público en el cuidado infantil y duración del permiso parental) y la probabilidad de que las mujeres se conviertan en empresarias. Los principales resultados del estudio muestran que en las sociedades caracterizadas por una alta masculinidad y/o bajo individualismo se refuerza la relación entre el gasto público en cuidado infantil y la probabilidad de que las mujeres sean empresarias. En cambio, en las sociedades altamente indulgentes se debilita la relación entre la duración del permiso parental y la probabilidad de ser empresaria. De esta manera, se vislumbra una imagen matizada del emprendimiento llevado a cabo por mujeres al considerar el papel descuidado de las instituciones informales.

In enterprising families, the family, as a social institution, is the foundation of the family business. However, in enterprising families, intergenerational succession remains problematic. Using intergenerational solidarity theory, and data from the 2013 Global University Entrepreneurial Spirit Students Survey (GUESSS; N = 18,576), our findings indicate that affective commitment partially mediates the relationship between family business exposure and offspring’s succession intentions. We also find that this relationship is stronger for sons than for daughters, while birth order has no effect. Implications for theory and practice are discussed.