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https://hdl.handle.net/2440/129467
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Type: | Journal article |
Title: | Innovation in family firms: The relative effects of wealth concentration versus family-centered goals |
Author: | Becerra, M. Cruz, C. Graves, C. |
Citation: | Family Business Review, 2020; 33(4):372-392 |
Publisher: | SAGE Publications |
Issue Date: | 2020 |
ISSN: | 0894-4865 1741-6248 |
Statement of Responsibility: | Manuel Becerra, Cristina Cruz, and Chris Graves |
Abstract: | Drawing on agency and behavioral perspectives, we disentangle two critical determinants of innovation strategies among family firms, namely, the family’s wealth concentration (WC) in its business and the family’s emphasis on family-centered goals (FCGs). Our results from a survey of Australian family firms show opposite and completely independent effects of WC and family-centered noneconomic goals on family firms’ innovation strategies. While higher WC is negatively associated with firm innovation, a greater emphasis placed on family-centered noneconomic goals has a positive impact, which seems to be the key determinant of innovation strategies in family firms. |
Keywords: | family firm; innovation; socioemotional wealth; family-centered goals; wealth concentration |
Rights: | © The Author(s) 2020 |
DOI: | 10.1177/0894486520953700 |
Published version: | http://dx.doi.org/10.1177/0894486520953700 |
Appears in Collections: | Aurora harvest 8 Business School publications |
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