Family involvement in top management team: Impact on relationships between internal social capital and innovation

Sanchez‐Famoso, Valeriano; Maseda, Amaia; Iturralde, Txomin

doi:10.1017/jmo.2016.2

Cited by 49 publications

(42 citation statements)

References 165 publications

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“…Furthermore, family managers make the most of process innovation-performance relationship, as a result of the unusual motivation, consolidated loyalties, and increased trust that they are able to promote between family managers and other employees [106,112]. Additionally, the utilization within a business of a distinctive family language [78], which improves the communication flow and joint decision-making, also impacts positively on innovation efficiency. Hence, H5d endorses the idea that family involvement in management provides an outstanding strengthening effect that enables better long-term performance outcomes when the firm is able to enhance its internal functioning through the implementation of process innovations.…”

Section: Discussionmentioning

confidence: 99%

“…Previous studies [75] agree that family firms, and specifically family-managed firms, present a set of idiosyncratic characteristics, such as long-term orientation [76], tacit knowledge [77], social capital [78] and outstanding commitment to firm survival [74], which encourage innovation practices and thus, long-term performance [20]. These features are more pronounced as the integration among family and business becomes stronger [69,75].…”

Section: Innovation Inputsmentioning

confidence: 97%

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Examining the Impact of Innovation Forms on Sustainable Economic Performance: The Influence of Family Management

2019

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The aim of this research is to explore the effect that innovation, as a potential source of sustained competitive advantage and firm growth, has on the achievement of sustainable economic performance. In particular, this paper empirically examines the influence of four innovation forms (intramural R&D, extramural R&D, product innovation, and process innovation) on firms’ sustainable economic performance, considering the moderating effect of family involvement in management. To test the hypotheses, random-effects regression analyses are applied to a longitudinal sample of 598 Spanish private manufacturing firms throughout the 2006–2015 period. The results show a negative effect of intramural and extramural R&D on sustainable economic performance and a positive effect of process innovation on sustainable economic performance. Moreover, a reinforced relationship between process innovation and sustainable economic performance is also revealed when family involvement in management acts as a moderator. The findings make several contributions to research and practice.

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Section: Discussionmentioning

confidence: 99%

Section: Innovation Inputsmentioning

confidence: 97%

Examining the Impact of Innovation Forms on Sustainable Economic Performance: The Influence of Family Management

2019

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“…; Sanchez‐Famoso et al . ) instead find that family involvement in the TMT is detrimental to innovation due to the lack of professional experience of family mangers and the perceived risk of losing sight of the economic and non‐economic family‐centred goals.…”

Section: An Integrative View Of Ff Innovationmentioning

confidence: 97%

Innovation in Family Firms: A Systematic Literature Review and Guidance for Future Research

Calabrò

Vecchiarini

Gast³

et al. 2018

Int J Management Reviews

331

351

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Through a systematic review of 118 peer-reviewed journal articles published between 1961 and 2017, this article provides an integrative picture of the state of the art of the family firm innovation literature. Our aim is to widen existing understanding of innovation in family firms by building a theoretical bridge with studies in the mainstream innovation literature. Specifically, in identifying the main gaps in the literature and providing future research directions, our critical and dynamic picture of family-specific determinants of innovation is intended to advance the debate on innovation in general, and family firms in particular.

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“…In this regard, several articles use indicators obtained through questionnaire survey as assessment of performance (e.g. Arzubiaga et al, 2018;Sanchez-Famoso et al, 2017). However, other studies use indicators obtained from financial reporting information as performance measure (e.g.…”

Section: The Generational Perspective In Ownership Concentration and mentioning

confidence: 99%

Family board ownership, generational involvement and performance in family SMEs

Maseda

Iturralde

Castro

et al. 2019

EJMBE

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Purpose In order to deepen our knowledge of governance of family firms, the purpose of this paper is to focus our attention on the relation between family owners who are members of the board of directors and firm performance. Also, this study sheds more light on how the generation in charge of the family firm affects that relationship, as generational involvement may be a unique predictor of governance behavior in these firms. Design/methodology/approach The authors applied a cross-sectional ordinary least squares regression model to test the hypotheses on a sample of 313 non-listed Spanish family SMEs. The authors suggest the possibility of a non-linear relationship between the percentage of ownership by family members of the board of directors and firm performance, and specifically, the authors propose an S-shaped effect that implies two breakpoints. Findings The authors find not only that an inverted U-shaped relationship exists, but also an S-shaped relationship between family board members’ ownership and firm performance in family SMEs. Nevertheless, the results are different in comparing first-, second- and later-generation family firms. Originality/value This is one of the few empirical studies that examine the relationship between family board ownership and firm performance in the context of non-listed family SMEs. The authors consider that the influences of family directors on the board of directors as well as the concentration of family ownership on the board of directors are worth studying in non-listed family SMEs. Moreover, previous studies have focused mainly on large listed family firms but not on unlisted ones.

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Family involvement in top management team: Impact on relationships between internal social capital and innovation

Cited by 49 publications

References 165 publications

Examining the Impact of Innovation Forms on Sustainable Economic Performance: The Influence of Family Management

Examining the Impact of Innovation Forms on Sustainable Economic Performance: The Influence of Family Management

Innovation in Family Firms: A Systematic Literature Review and Guidance for Future Research

Family board ownership, generational involvement and performance in family SMEs

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