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The impact of family ownership, management, and governance on innovation
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Matzler, Kurt, Veider, Viktoria, Hautz, Julia and Stadler, Christian (2015) The impact of family ownership, management, and governance on innovation. Journal of Product Innovation Management, 32 (3). pp. 319-333. doi:10.1111/jpim.12202 ISSN 0737-6782.
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Official URL: http://dx.doi.org/10.1111/jpim.12202
Abstract
Previous research suggests that the distinctive nature of family firms, including both specific advantages and disadvantages related to their particular agency situation, influences innovation activities. Most studies, however, view family firms as homogeneous entities and thus neglect the heterogeneity of family firms when comparing them with nonfamily firms. One important factor of this firm heterogeneity is family influence in terms of ownership, management, and governance. A data set of large German publicly traded firms between 2000 and 2009 is used to test how these three dimensions of family influence predict innovation input and output. The results show that family participation in management and governance has a negative impact on innovation input and a positive influence on innovation output. This suggests that family members are risk averse and reluctant to invest in innovation, but at the same time do so more effectively.
| Item Type: | Journal Article | ||||||
|---|---|---|---|---|---|---|---|
| Divisions: | Faculty of Social Sciences > Warwick Business School > Strategy & International Business Faculty of Social Sciences > Warwick Business School |
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| Journal or Publication Title: | Journal of Product Innovation Management | ||||||
| Publisher: | John Wiley & Sons Ltd. | ||||||
| ISSN: | 0737-6782 | ||||||
| Official Date: | May 2015 | ||||||
| Dates: |
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| Volume: | 32 | ||||||
| Number: | 3 | ||||||
| Page Range: | pp. 319-333 | ||||||
| DOI: | 10.1111/jpim.12202 | ||||||
| Status: | Peer Reviewed | ||||||
| Publication Status: | Published | ||||||
| Access rights to Published version: | Restricted or Subscription Access |
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