Variables explicativas y predictivas de la capacidad de emprendimiento e innovaciónevidencia en las empresas familiares

  1. Alfredo Martínez Bobillo 1
  2. Juan Antonio Rodríguez Sanz 1
  3. Fernando Tejerina Gaite 1
  1. 1 Universidad de Valladolid
    info

    Universidad de Valladolid

    Valladolid, España

    ROR https://ror.org/01fvbaw18

Journal:
Management Letters / Cuadernos de Gestión

ISSN: 1131-6837

Year of publication: 2021

Volume: 21

Issue: 2

Pages: 63-76

Type: Article

DOI: 10.5295/CDG.201329AM DIALNET GOOGLE SCHOLAR lock_openOpen access editor

More publications in: Management Letters / Cuadernos de Gestión

Sustainable development goals

Abstract

This paper aims to identify potential explanatory variables of the entrepreneurial orientation and innovation capacity (EO-IC) of family enterprises (FEs) through a comparative study of family businesses in Spain and Latin America. The innovation literature reports a paradigm shift whereby the dynamic boost provided by corporate governance and productivity is playing an increasing role as a driver of EO-IC and sustainable competitive advantage. This issue acquires particular relevance in the case of family firms, where entrepreneurial and innovation capacities are characteristically hampered by socio-emotional and risk-aversion factors. We construct a panel of data on 182 large family enterprises (1,820 observations) domiciled in Argentina, Brazil, Chile, Colombia, Mexico, Peru, Uruguay and Spain, drawing on the Thomson Onebanker and ORBIS databases for the period 2008-2018. The results reveal the emergence of new explanatory variables for the structure of the family-firm EO-IC framework, some related to productivity; others more basically to corporate governance. They also show that, in Latin America, the use of business efficiency (productivity) factors in the planning and potentiation of EO-IC by family firms is hampered by the institutional (legal, regulatory, labour and educational) environment, where traditional factors such as firm size and ownership concentration are more relevant. In the Spanish case, however, the evidence points to a transition from traditional inputs towards business efficiency and productivity-related factors.

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Funding information

The authors are grateful to Editor and two anonymous referees for suggestions and comments on previous version of the paper. This work was supported by the Spanish Ministry of Economy and Competitiveness [grant number ECO2017-84864-P].

Funders

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