Gender diversity and innovation in family SMEs: an empirical study in Colombia

The most innovative firms worldwide are family businesses. However, some studies suggest that these firms do not invest much in innovation. Motivated by this contradiction and the limited knowledge regarding this topic in the Latin American context, this article aims to provide a greater understanding of the determinants that influence the level of innovation in family small and medium-sized enterprises (SMEs). Focused on the effect of gender diversity on the level of innovation in family SMEs, this study shows through a multiple regression analysis from a sample of 274 family SMEs in Colombia that gender diversity positively affects the innovation levels of family SMEs, especially in process innovation.