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Family ownership: Does it matter for funding and success of corporate innovations?
German Institute for Economic Research, Germany ; Jönköping University ; CERBE Center for Relationship Banking and Economics, Italy.
German Institute for Economic Research, Germany ; Jönköping University ; Ratio Institute.
Jönköping University.
2017 (English)In: Small Business Economics, ISSN 0921-898X, E-ISSN 1573-0913, Vol. 48, no 4, 931-951 p.Article in journal (Refereed) Published
Abstract [en]

Using the Mannheim innovation panel, we investigate whether family firms have higher financial need and how this affects both innovation input and innovation outcomes such as firm or market novelties, or process innovation. Applying the CDM framework, we find that family firms are more likely to have a latent financial need for innovation, which means that they have innovation ideas which they have not implemented yet. We find that family firms have a significantly lower marginal innovation productivity in particular for innovations with radical character, i.e., market novelties. We conclude from this evidence that family firms have a comparative disadvantage in innovation projects that imply high risk and require high innovation capability.

Place, publisher, year, edition, pages
2017. Vol. 48, no 4, 931-951 p.
Keyword [en]
Innovation capability, Funding gaps, Financing restrictions, Family firms, CDM, Economics
National Category
Economics
Research subject
Economy, Economics
Identifiers
URN: urn:nbn:se:lnu:diva-62786DOI: 10.1007/s11187-016-9813-yScopusID: 2-s2.0-85003819812OAI: oai:DiVA.org:lnu-62786DiVA: diva2:1092464
Available from: 2017-05-03 Created: 2017-05-03 Last updated: 2017-05-03

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CiteExportLink to record
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Citation style
  • apa
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  • Other locale
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Output format
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