Family firms' innovation: The indirect effects of socioemotional wealth and the role of social capital

Q1 Business, Management and Accounting

Journal of High Technology Management Research Pub Date : 2023-05-01 DOI:10.1016/j.hitech.2023.100454

Michele Stasa, Ondřej Machek

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引用次数: 5

Abstract

The paper aims to examine the role of socioemotional wealth (SEW), social capital (SC), and knowledge internalization in the innovation process of family firms. It draws upon recent shortcomings of management and family business literature including the need for exploring mediators in the innovation process and innovation heterogeneity of family businesses. A serial mediation model is tested on a dataset of 198 US family firms. We found SEW to be positively related to bonding SC. In turn, bonding SC was found to enhance bridging SC and knowledge internalization. Despite a negative relationship between bonding SC and innovation output, our analysis revealed three indirect paths that demonstrate the crucial role of SEW and bonding SC in promoting innovation in family firms. Specifically, SEW increases innovation output through the sequential effect of (1) bonding SC and bridging SC, (2) bonding SC and knowledge internalization, and (3) bonding SC, bridging SC, and knowledge internalization. The implications for theory and practice are discussed.

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家族企业创新：社会情感财富的间接效应与社会资本的作用

本文旨在考察社会情感财富（SEW）、社会资本（SC）和知识内化在家族企业创新过程中的作用。它借鉴了最近管理和家族企业文献的不足，包括需要探索家族企业创新过程中的中介因素和创新异质性。一个系列中介模型在198家美国家族企业的数据集上进行了测试。我们发现SEW与结合SC呈正相关。反过来，结合SC可以增强桥接SC和知识内化。尽管联结SC与创新产出之间存在负相关关系，但我们的分析揭示了三条间接路径，证明了SEW和联结SC在促进家族企业创新中的关键作用。具体而言，SEW通过以下顺序效应增加创新产出：（1）联结SC和桥接SC，（2）联结SC与知识内化，以及（3）联结SC、桥接SC和知识内化。讨论了对理论和实践的启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Journal of High Technology Management Research Business, Management and Accounting-Strategy and Management

CiteScore

5.80

自引率

0.00%

发文量

审稿时长

62 days

期刊介绍： The Journal of High Technology Management Research promotes interdisciplinary research regarding the special problems and opportunities related to the management of emerging technologies. It advances the theoretical base of knowledge available to both academicians and practitioners in studying the management of technological products, services, and companies. The Journal is intended as an outlet for individuals conducting research on high technology management at both a micro and macro level of analysis.