Innovation in family firms: The relative effects of wealth concentration versus family-centered goals

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dc.contributor.authorBecerra, M.
dc.contributor.authorCruz, C.
dc.contributor.authorGraves, C.
dc.date.issued2020
dc.description.abstractDrawing 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.
dc.description.statementofresponsibilityManuel Becerra, Cristina Cruz, and Chris Graves
dc.identifier.citationFamily Business Review, 2020; 33(4):372-392
dc.identifier.doi10.1177/0894486520953700
dc.identifier.issn0894-4865
dc.identifier.issn1741-6248
dc.identifier.orcidGraves, C. [0000-0003-2456-1702]
dc.identifier.urihttp://hdl.handle.net/2440/129467
dc.language.isoen
dc.publisherSAGE Publications
dc.rights© The Author(s) 2020
dc.source.urihttps://doi.org/10.1177/0894486520953700
dc.subjectfamily firm; innovation; socioemotional wealth; family-centered goals; wealth concentration
dc.titleInnovation in family firms: The relative effects of wealth concentration versus family-centered goals
dc.typeJournal article
pubs.publication-statusPublished

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