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

被引：10

作者：

Stasa M. ^{[1
]}

Machek O. ^{[1
]}

机构：

[1] Faculty of Business Administration, Prague University of Economics and Business, Nam. W. Churchilla 4, Prague

来源：

Journal of High Technology Management Research | 2023年 / 34卷 / 01期

关键词：

Innovation; Knowledge internalization; Social capital; Socioemotional wealth;

D O I：

10.1016/j.hitech.2023.100454

中图分类号：

学科分类号：

摘要：

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. © 2023 Elsevier Inc.

引用

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