Family management and family guardianship: Governance effects on family firm innovation strategy

IF 9.5 1区 管理学 Q1 BUSINESS
Louise Scholes , Mathew Hughes , Mike Wright , Alfredo De Massis , Josip Kotlar
{"title":"Family management and family guardianship: Governance effects on family firm innovation strategy","authors":"Louise Scholes ,&nbsp;Mathew Hughes ,&nbsp;Mike Wright ,&nbsp;Alfredo De Massis ,&nbsp;Josip Kotlar","doi":"10.1016/j.jfbs.2020.100389","DOIUrl":null,"url":null,"abstract":"<div><p>Drawing on agency and stewardship theories, we examine how two dimensions of family governance influence family firm innovation strategy. Specifically, we differentiate between the effects of Family Management (family CEO, family managerial involvement, and next-generation involvement in the business) and Family Guardianship (trustees and family council) and study their effects on explorative and exploitative modes of innovation strategy. Our analysis of unique survey data from 328 UK private family firms shows that specific dimensions of Family Management (next-generation involvement) and Family Guardianship (the existence of a family council) are significantly positively associated with exploration. Exploitation, however, is positively associated with next-generation involvement only. These findings answer calls to theorize and empirically examine the heterogeneity of family firms’ innovation modes. These findings further respond to calls to better understand the relationship between governance and behavior, advancing scholarly debate at the intersection of agency and stewardship, family governance, and innovation.</p></div>","PeriodicalId":47661,"journal":{"name":"Journal of Family Business Strategy","volume":null,"pages":null},"PeriodicalIF":9.5000,"publicationDate":"2021-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1016/j.jfbs.2020.100389","citationCount":"24","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Journal of Family Business Strategy","FirstCategoryId":"91","ListUrlMain":"https://www.sciencedirect.com/science/article/pii/S1877858520301169","RegionNum":1,"RegionCategory":"管理学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"BUSINESS","Score":null,"Total":0}
引用次数: 24

Abstract

Drawing on agency and stewardship theories, we examine how two dimensions of family governance influence family firm innovation strategy. Specifically, we differentiate between the effects of Family Management (family CEO, family managerial involvement, and next-generation involvement in the business) and Family Guardianship (trustees and family council) and study their effects on explorative and exploitative modes of innovation strategy. Our analysis of unique survey data from 328 UK private family firms shows that specific dimensions of Family Management (next-generation involvement) and Family Guardianship (the existence of a family council) are significantly positively associated with exploration. Exploitation, however, is positively associated with next-generation involvement only. These findings answer calls to theorize and empirically examine the heterogeneity of family firms’ innovation modes. These findings further respond to calls to better understand the relationship between governance and behavior, advancing scholarly debate at the intersection of agency and stewardship, family governance, and innovation.

家族管理与家族监护:治理对家族企业创新战略的影响
利用代理理论和管理理论,我们研究了家族治理的两个维度如何影响家族企业的创新战略。具体而言,我们区分了家族管理(家族CEO、家族管理者参与和下一代企业参与)和家族监护(受托人和家族委员会)的影响,并研究了它们对创新战略探索和利用模式的影响。我们对328家英国私人家族企业的独特调查数据的分析表明,家族管理(下一代参与)和家族监护(家族委员会的存在)的特定维度与探索显着正相关。然而,开发只与下一代参与呈正相关。这些发现回应了理论化和实证检验家族企业创新模式异质性的呼吁。这些发现进一步回应了更好地理解治理与行为之间关系的呼吁,推动了机构与管理、家庭治理与创新交叉领域的学术辩论。
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
CiteScore
11.40
自引率
19.40%
发文量
53
期刊介绍: The Journal of Family Business Strategy takes an international perspective, providing a platform for research that advances our understanding of family businesses. Welcoming submissions across various dimensions, the journal explores the intricate interplay between family dynamics and business operations, contributing new insights to this specialized field.
×
引用
GB/T 7714-2015
复制
MLA
复制
APA
复制
导出至
BibTeX EndNote RefMan NoteFirst NoteExpress
×
提示
您的信息不完整,为了账户安全,请先补充。
现在去补充
×
提示
您因"违规操作"
具体请查看互助需知
我知道了
×
提示
确定
请完成安全验证×
copy
已复制链接
快去分享给好友吧!
我知道了
右上角分享
点击右上角分享
0
联系我们:info@booksci.cn Book学术提供免费学术资源搜索服务,方便国内外学者检索中英文文献。致力于提供最便捷和优质的服务体验。 Copyright © 2023 布克学术 All rights reserved.
京ICP备2023020795号-1
ghs 京公网安备 11010802042870号
Book学术文献互助
Book学术文献互助群
群 号:481959085
Book学术官方微信