Researching Long-Term Orientation

Brigham, Keith H.; Lumpkin, G. T.; Payne, G. Tyge; Zachary, Miles A.

doi:10.1177/0894486513508980

Cited by 164 publications

(85 citation statements)

References 89 publications

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“…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%

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: Innovation Inputsmentioning

confidence: 97%

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

2019

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“…The long-term perspective presents an opposite point of view of the growth potential of family firms (Miller & Le Breton-Miller, 2005;. In reviewing the literature, Villalonga, Amit, Trujillo, and Guzmán (2015) highlight several studies that employ the long-term perspective (Block & Henkel, 2010;Brigham, Lumpkin, Payne, & Zachary, 2013;Lumpkin & Brigham Keith, 2011) to understand family firms. Kappes and Schmid (2013) suggest that family firm managers have long time horizons for their business because they wish to preserve it for the family and its later generations.…”

Section: Superior Growth: the Long-term Perspectivementioning

confidence: 99%

Family Business Growth Around the World

Miroshnychenko

Massis

Miller

et al. 2020

Entrepreneurship Theory and Practice

123

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Growth is important for the long-term success of a business. Regrettably, the impact of family influence on firm growth is largely neglected. We examine whether family firms have a higher growth rate than their nonfamily counterparts. Based on a large sample of firms across 43 countries over a 10-year period, we show that family firms on average have higher growth rates than nonfamily firms, and this positive effect is greater for family firms operating in strong national institutional environments which are less corrupt, more democratic, more subject to rule of law, and have effective government policies. We also find that the positive effect of family influence on firm growth varies significantly across different types of family firms and different business cycles. These findings show that family control has an economically significant impact on growth rates and important implications for both family firm theory and practice.

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“…In this paper we focus on family businesses that are intergenerational, that is, with more than one generation from the same family currently owning and/or managing the business. A number of researchers consider family businesses to be long-term oriented (Brigham, Lumpkin, Payne, & Zachary, 2013) with motivation to pass their business to the next generation (Chua, Chrisman, & Sharma, 1999;Handler, 1989;Ward, 1987). For the most part, family businesses lean toward being motivated to succeed into the next generation, and this is where we see the potential for innovation events to occur which may otherwise never come to fruition.…”

Section: Family Businessmentioning

confidence: 99%

Intergenerational knowledge sharing in family firms: Case-based evidence from the New Zealand wine industry

Woodfield

Husted

2017

Journal of Family Business Strategy

105

110

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This paper examines intergenerational knowledge sharing within family firms in traditional industries. We position our analysis against the background of the knowledge-based view of the firm and utilize knowledge creation theory and perspectives on knowledge sharing behavior to analyse how knowledge is shared in an organization. We employ a multiple case study approach and use the New Zealand wine industry as the context of our analysis. Our study extends family business and knowledge sharing literature by challenging traditional views of incumbent-successor relationships. We reason that family business literature is sympathetic to the senior generation nurturing the next generation while leaving a gap in our understanding of how the next generation contributes knowledge to the firm. We suggest that the knowledge bases of the senior and next generation are different in terms of how they are generated and the relative weight of tacit and explicit knowledge they contain. We also argue that knowledge sharing in family firms is bidirectional leading to innovative outcomes and change.

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Researching Long-Term Orientation

Cited by 164 publications

References 89 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

Family Business Growth Around the World

Intergenerational knowledge sharing in family firms: Case-based evidence from the New Zealand wine industry

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