2022
DOI: 10.1016/j.jfbs.2021.100440
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Surviving the coronavirus pandemic and beyond: Unlocking family firms’ innovation potential across crises

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Cited by 60 publications
(70 citation statements)
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References 56 publications
(130 reference statements)
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“…Recent evidence from Baù et al [50] demonstrates that family firms use social capital as a distinctive strategic component, and that local embeddedness has a positive influence on their performance, confirming the importance of the social context when considering networking strategies for innovation [51]. Family firms can exchange different types of knowledge, and these knowledge flows generate unique network structures in which each firm assumes a specific role; moreover, family firms do not only establish relationships with other family firms, but also with non-family firms, universities, and other organizations, developing complex patterns of collaboration (e.g., [52]).…”
Section: Literature Reviewmentioning
confidence: 87%
“…Recent evidence from Baù et al [50] demonstrates that family firms use social capital as a distinctive strategic component, and that local embeddedness has a positive influence on their performance, confirming the importance of the social context when considering networking strategies for innovation [51]. Family firms can exchange different types of knowledge, and these knowledge flows generate unique network structures in which each firm assumes a specific role; moreover, family firms do not only establish relationships with other family firms, but also with non-family firms, universities, and other organizations, developing complex patterns of collaboration (e.g., [52]).…”
Section: Literature Reviewmentioning
confidence: 87%
“…The study on open innovation strategies in family business and non-family business SMEs is completely divergent [146]. Some views maintain that non-family businesses invest more resources and develop a greater capacity for innovation than family businesses [146,147].…”
Section: Discussionmentioning
confidence: 99%
“…The study on open innovation strategies in family business and non-family business SMEs is completely divergent [146]. Some views maintain that non-family businesses invest more resources and develop a greater capacity for innovation than family businesses [146,147]. Therefore, non-family businesses have a greater propensity and ease towards open innovation, which makes them look like companies that are more collaborative with the outside world and more open to capturing knowledge.…”
Section: Discussionmentioning
confidence: 99%
“…Research regularly indicates that family firms possess a superior ability to absorb, adapt to, and recover from crises ( Alonso-Dos-Santos and Llanos-Contreras, 2019 , Amore et al, 2022 , Calabrò et al, 2021 , Le Breton-Miller and Miller, 2022 , Leppäaho and Ritala, 2022 , Lingo and Elmes, 2019 , Minichilli et al, 2016 , Salvato et al, 2020 , Soluk et al, 2021 , van Essen et al, 2015 ). For example, publicly listed family firms have been shown to financially outperform their non-family counterparts in times of crisis, including amid the 2007–2009 financial crisis ( Minichilli et al, 2016 , van Essen et al, 2015 ), or in the aftermath of natural disasters ( Salvato et al, 2020 ).…”
Section: Theory Literature Review and Hypotheses Developmentmentioning
confidence: 99%
“…This can manifest, for example, in more forward-looking resource management to increase robustness during times of hardship ( Sun et al, 2019 ). However, when the survival of the business is threatened, family firms’ strategies can also shift toward a more innovative and risk-tolerant approach in order to cope with the crisis ( Conz et al, 2020 , Leppäaho and Ritala, 2022 ).…”
Section: Theory Literature Review and Hypotheses Developmentmentioning
confidence: 99%