Resource orchestration, socioemotional wealth, and radical innovation in family firms: Do multifamily ownership and generational involvement matter?

IF 7.5 1区管理学 Q1 MANAGEMENT

Research Policy Pub Date : 2024-09-13 DOI:10.1016/j.respol.2024.105106

Francesco Chirico , R. Duane Ireland , Daniel Pittino , Valeriano Sanchez-Famoso

{"title":"Resource orchestration, socioemotional wealth, and radical innovation in family firms: Do multifamily ownership and generational involvement matter?","authors":"Francesco Chirico , R. Duane Ireland , Daniel Pittino , Valeriano Sanchez-Famoso","doi":"10.1016/j.respol.2024.105106","DOIUrl":null,"url":null,"abstract":"<div><p>We draw from resource orchestration and socioemotional wealth (SEW) arguments to examine radical innovation in multifamily firms. We theorize that the weak coordination mechanism associated with multifamily ownership has a negative effect on the positive SEW-radical innovation relationship. Additionally, we argue that low generational involvement – the number of family generations involved simultaneously in the family firm's top management team – mitigates the negative moderating effect of multifamily ownership. Low generational involvement is a mobilizing mechanism that ensures that the family firm uses its SEW to produce radical innovation. We use a sample of Spanish firms to test our expectations. Our results show that firms realize the positive effect of SEW on radical innovation in concert with the leadership governance mechanism of multifamily ownership and low generational involvement. These results are important in that evidence suggests that radical innovation plays a strong role in family firms' long-term survival, success, and renewal. We conclude our paper with a discussion of the study's theoretical contributions and opportunities for future research.</p></div>","PeriodicalId":48466,"journal":{"name":"Research Policy","volume":"54 1","pages":"Article 105106"},"PeriodicalIF":7.5000,"publicationDate":"2024-09-13","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Research Policy","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S0048733324001550","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"MANAGEMENT","Score":null,"Total":0}

引用次数: 0

Abstract

We draw from resource orchestration and socioemotional wealth (SEW) arguments to examine radical innovation in multifamily firms. We theorize that the weak coordination mechanism associated with multifamily ownership has a negative effect on the positive SEW-radical innovation relationship. Additionally, we argue that low generational involvement – the number of family generations involved simultaneously in the family firm's top management team – mitigates the negative moderating effect of multifamily ownership. Low generational involvement is a mobilizing mechanism that ensures that the family firm uses its SEW to produce radical innovation. We use a sample of Spanish firms to test our expectations. Our results show that firms realize the positive effect of SEW on radical innovation in concert with the leadership governance mechanism of multifamily ownership and low generational involvement. These results are important in that evidence suggests that radical innovation plays a strong role in family firms' long-term survival, success, and renewal. We conclude our paper with a discussion of the study's theoretical contributions and opportunities for future research.

查看原文本刊更多论文

家族企业的资源协调、社会情感财富和激进创新：多家族所有权和代际参与重要吗？

我们从资源协调和社会情感财富（SEW）的论点出发，研究了多家族企业的激进创新。我们的理论是，多家族所有权相关的弱协调机制对 SEW 与激进创新的正向关系有负面影响。此外，我们还认为，低代际参与--家族企业高层管理团队中同时参与的家族代际数量--可以减轻多家族所有权的负面调节作用。低代际参与是一种动员机制，可确保家族企业利用其 SEW 进行彻底创新。我们使用西班牙企业样本来验证我们的预期。我们的结果表明，在多家族所有制的领导治理机制和低代际参与度的共同作用下，企业实现了SEW对激进创新的积极影响。这些结果非常重要，因为有证据表明，激进创新在家族企业的长期生存、成功和复兴中发挥着重要作用。最后，我们讨论了本研究的理论贡献和未来研究的机遇。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Research Policy MANAGEMENT-

CiteScore

12.80

自引率

6.90%

发文量

182

期刊介绍： Research Policy (RP) articles explore the interaction between innovation, technology, or research, and economic, social, political, and organizational processes, both empirically and theoretically. All RP papers are expected to provide insights with implications for policy or management. Research Policy (RP) is a multidisciplinary journal focused on analyzing, understanding, and effectively addressing the challenges posed by innovation, technology, R&D, and science. This includes activities related to knowledge creation, diffusion, acquisition, and exploitation in the form of new or improved products, processes, or services, across economic, policy, management, organizational, and environmental dimensions.