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Cited by 113 publications
(98 citation statements)
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References 46 publications
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“…A family firm's financial strategy may also drive entrepreneurship. Liquidity was found to promote EO (Casillas, Moreno, and Barbero ) and hamper the R&D personnel ratio (Schmid et al ). Leverage was found to be negatively associated with R&D intensity, probably because high levels of debt reduce the possibility of investing in risky activities.…”
Section: Firm‐level Antecedents Of Entrepreneurship In Family Firmsmentioning
confidence: 99%
See 1 more Smart Citation
“…A family firm's financial strategy may also drive entrepreneurship. Liquidity was found to promote EO (Casillas, Moreno, and Barbero ) and hamper the R&D personnel ratio (Schmid et al ). Leverage was found to be negatively associated with R&D intensity, probably because high levels of debt reduce the possibility of investing in risky activities.…”
Section: Firm‐level Antecedents Of Entrepreneurship In Family Firmsmentioning
confidence: 99%
“…Similarly, Cruz and Nordqvist () found that the presence of non‐family members in the TMT positively affected EO, but only in third and subsequent generations. Schmid et al (), however, showed that family involvement in management had a positive impact on R&D intensity but that this impact surprisingly disappeared when R&D was taken from accounting measures, that is, obtained through financial statements rather than survey data.…”
Section: Antecedents Of Entrepreneurship At the Interface Of Family‐ mentioning
confidence: 99%
“…This could lead to higher levels of actual R&D activities in family firms, even though that may not always be apparent from the company's annual reports since many family managed firms tend to downplay the importance of their R&D processes, possibly in an effort not to deter potential external investors (Schmid et al 2014).…”
Section: Family Firms and Randd Activitiesmentioning
confidence: 99%
“…Although studies are largely consistent pointing out a negative relationship between family involvement and expenses in R&D, literature has continued to add further theoretical and empirical evidence. For instance, Schmid, Achleitner, Ampenberger, and Kaserer (2014) found that R&D intensity is higher in firms that are actively managed by the family, while the impact of family control (via voting rights) is negative, but mostly not significant. A novel contribution to this debate is offered by Kotlar, Fang, De Massis, and Frattini (2014), who showed that the importance of profitability and control goals follows a sequential logic in family firms, so much so that family firms react more strongly to increasing supplier bargaining power when their profitability reference marks have been reached.…”
Section: Latest Literature On Innovation In Fbmentioning
confidence: 99%