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Product innovation in family versus nonfamily firms: an exploratory analysis

Research output: Contribution to journalJournal article

Published

<mark>Journal publication date</mark>01/2015
<mark>Journal</mark>Journal of Small Business Management
Issue1
Volume53
Number of pages36
Pages1-36
Early online date16/09/13
<mark>Original language</mark>English

Abstract

How family firms manage product innovation remains an overlooked topic in existing business research. This happens despite the fact that family businesses play a crucial role across all economies, and they often use technological innovation to nurture their competitive advantage. By drawing upon the resource-based view of the firm as well as agency, stewardship, and behavioral theories and using empirical evidence gathered through a multiple case study, the paper studies how and why the anatomy of the product innovation process differs between family and nonfamily firms. The analysis shows that family businesses differ from nonfamily ones as regards product innovation strategies and organization of the innovation process.