Does family ownership reduce exploratory innovation in family firms? The moderating role of the generational stage

IF 5.8 2区管理学 Q1 MANAGEMENT

Asia Pacific Journal of Management Pub Date : 2024-05-30 DOI:10.1007/s10490-024-09970-4

Junjie Guang, Yang (Eric) Zhou, Lei Gong, Li Xia, Zhiying Liu

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Abstract

Existing literature suggests that family ownership (FO) reduces exploratory innovation (ERI). Contrary to this conventional view, some family firms are among the world's innovation leaders. Our study aims to reconcile this discrepancy by examining the role of restricted and extended socioemotional wealth in the relationship between FO and ERI. We posit that while FO may inhibit the capacity for ERI due to rigid mental models and cognitive convergence, it fosters the willingness for ERI owing to a long-term orientation. We argue that FO exhibits an inverted U-shaped effect on ERI. Empirical evidence from 938 Chinese-listed family firms between 2011 and 2021 supports our hypothesis. Our findings indicate that FO's influence on ERI is not uniformly detrimental and that a moderate level of FO can promote ERI. Additionally, the latter generational stage (GS) attenuates the inverted U-shaped curve, implying that family firms in the latter GS may exhibit lower levels of ERI. This study offers theoretical and practical insights into FO and technological innovation research domains.

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家族所有权是否减少了家族企业的探索性创新？代际阶段的调节作用

现有文献表明，家族所有权（FO）降低了探索性创新（ERI）。与这种传统观点相反，一些家族企业是世界创新的领导者。我们的研究旨在通过考察受限制的和扩展的社会情感财富在FO和ERI之间的关系中的作用来调和这一差异。我们假设，虽然由于僵化的心智模型和认知趋同，FO可能抑制ERI的能力，但由于长期取向，它促进了ERI的意愿。我们认为，FO对ERI的影响呈倒u型。2011年至2021年间938家中国上市家族企业的实证支持了我们的假设。我们的研究结果表明，FO对ERI的影响并不总是有害的，中等水平的FO可以促进ERI。此外，后代际阶段（GS）减弱了倒u型曲线，这意味着后代际阶段的家族企业可能表现出较低的ERI水平。本研究为FO与技术创新的研究领域提供了理论与实践的启示。

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来源期刊

Asia Pacific Journal of Management MANAGEMENT-

CiteScore

9.70

自引率

9.30%

发文量

期刊介绍： The Asia Pacific Journal of Management publishes original manuscripts on management and organizational research in the Asia Pacific region, encompassing Pacific Rim countries and mainland Asia. APJM focuses on the extent to which each manuscript addresses matters that pertain to the most fundamental question: “What determines organization success?” The major academic disciplines that we cover include entrepreneurship, human resource management, international business, organizational behavior, and strategic management. However, manuscripts that belong to other well-established disciplines such as accounting, economics, finance, marketing, and operations generally do not fall into the scope of APJM. We endeavor to be the major vehicle for exchange of ideas and research among management scholars within or interested in the broadly defined Asia Pacific region.Key features include: Rigor - maintained through strict review processes, high quality global reviewers, and Editorial Advisory and Review Boards comprising prominent researchers from many countries. Relevance - maintained by its focus on key management and organizational trends in the region. Uniqueness - being the first and most prominent management journal published in and about the fastest growing region in the world. Official affiliation - Asia Academy of ManagementFor more information, visit the AAOM website:www.baf.cuhk.edu.hk/asia-aom/ Officially cited as: Asia Pac J Manag