Family CEO affect and R&D investments of family firms: The moderation effect of family ownership structure

被引：6
|
作者：
Delgado-Garcia, Juan Bautista [1 ,2 ]
Blanco-Mazagatos, Virginia [1 ]
Romero-Merino, M. Elena [1 ]
Diaz-Portugal, Celia [1 ]
机构：
[1] Univ Burgos, Dept Econ & Adm Empresas, Burgos, Spain
[2] Univ Burgos, Ctr Int Invest Desarrollo Rural, Burgos, Spain
来源：
LONG RANGE PLANNING | 2023年 / 56卷 / 05期
关键词：
Emotions; Affect; Innovation; Family CEO; Family ownership; POSITIVE AFFECT; RISK-TAKING; SOCIOEMOTIONAL WEALTH; BEHAVIORAL AGENCY; NEGATIVE AFFECT; PSYCHOLOGICAL FOUNDATIONS; SOCIAL-RESPONSIBILITY; COMPETITIVE ADVANTAGE; CORPORATE GOVERNANCE; BUSINESS CREATION;
D O I：
10.1016/j.lrp.2022.102230
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
The last decades have seen increasing interest in the determinants of heterogeneity in family firm innovation. In this study, we respond to recent calls to address the micro-level mechanisms behind innovation in family firms. Specifically, we analyze the effect of family CEO affect, namely positive and negative affective traits, on the R&D investment decisions of family firms. We also analyze the moderating effect of family ownership structure on the influence of CEO affect on these strategic decisions. Consistent with affect maintenance arguments, our findings of a sample of 142 Spanish family firms show that positive family CEO affect negatively influences the R&D investments of family firms, while negative affect positively influences these investments. The results also show that family CEO ownership and family CEO branch ownership strengthen the effects of family CEO affect on R&D investments, whereas ownership concentration in other family branches weakens these effects.
引用
收藏
页数：18
相关论文
共 50 条
  • [1] Family ownership as a moderator between R&D investments and CEO compensation
    Tsao, Shou-Min
    Lin, Che-Hung
    Chen, Vincent Y. S.
    [J]. JOURNAL OF BUSINESS RESEARCH, 2015, 68 (03) : 599 - 606
  • [2] Risk abatement as a strategy for R&D investments in family firms
    Patel, Pankaj C.
    Chrisman, James J.
    [J]. STRATEGIC MANAGEMENT JOURNAL, 2014, 35 (04) : 617 - 627
  • [3] R&D investments in family and founder firms: An agency perspective
    Block, Joern H.
    [J]. JOURNAL OF BUSINESS VENTURING, 2012, 27 (02) : 248 - 265
  • [4] Investment opportunities and R&D investments in family and nonfamily firms
    Miroshnychenko, Ivan
    Barontini, Roberto
    De Massis, Alfredo
    [J]. R & D MANAGEMENT, 2020, 50 (04) : 447 - 461
  • [5] Heterogeneity of R&D in family firms
    Min, Byung-seong
    [J]. JOURNAL OF BUSINESS RESEARCH, 2021, 129 : 88 - 95
  • [6] How Do Ownership Concentration and Family Control Affect R&D Investments? New Evidence from Taiwan
    Ting, Irene Wei Kiong
    Lo, Huai-Chun
    Kweh, Qian Long
    [J]. INTERNATIONAL REVIEW OF FINANCE, 2020, 20 (01) : 275 - 291
  • [7] Born to rebel? The owner birth order and R&D investments in Chinese family firms
    Li, Wen Helena
    Luo, Jin-hui
    De Sisto, Marco
    Bartram, Timothy
    [J]. JOURNAL OF PRODUCT INNOVATION MANAGEMENT, 2021, 38 (04) : 421 - 446
  • [8] Family Ownership and R&D Intensity in Small- and Medium-Sized Firms
    Sciascia, Salvatore
    Nordqvist, Mattias
    Mazzola, Pietro
    De Massis, Alfredo
    [J]. JOURNAL OF PRODUCT INNOVATION MANAGEMENT, 2015, 32 (03) : 349 - 360
  • [9] Family ownership and cooperative R&D: the moderating effect of political ties
    Dong, Feng
    Wang, Xiao
    Chen, Jiawen
    [J]. JOURNAL OF KNOWLEDGE MANAGEMENT, 2021, : 403 - 422
  • [10] Family Ownership, Board Independence, and R&D Investment
    Chen, Hsiang-Lan
    Hsu, Wen-Tsung
    [J]. FAMILY BUSINESS REVIEW, 2009, 22 (04) : 347 - 362
12345