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Research output: Contribution to Journal/Magazine › Journal article › peer-review
Research output: Contribution to Journal/Magazine › Journal article › peer-review
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TY - JOUR
T1 - Entrepreneurial orientation and firm performance in family SMEs
T2 - the moderating effects of family, women, and strategic involvement in the board of directors
AU - Arzubiaga, Unai
AU - Iturralde, Txomin
AU - Maseda, Amaia
AU - Kotlar, Josip
PY - 2018/3
Y1 - 2018/3
N2 - Entrepreneurial success in family SMEs is largely determined by the knowledge, skills, and new ideas contributed by board directors, the most important actors in the formulation of corporate strategy and decision making. The composition of family SME boards has traditionally been homogeneous, as such boards usually comprise male family members. Boards' contributions, however, depend on their level of diversity and strategic involvement. This study analyzes the moderating effects of two main sources of board diversity in family firms, family involvement level and gender diversity, as potential means of enhancing family firms' success when exploiting entrepreneurial initiatives. This study also explores whether these two potential moderators depend on the strategic involvement of the board directors. Based on a sample of 230 Spanish family firms, we found that the link between entrepreneurial orientation and performance is stronger in firms with lower levels of family involvement and higher levels of gender diversity in the board. Moreover, the board's high strategic involvement may strengthen the positive impact of gender diversity and change the moderating influence of family involvement from negative to positive.
AB - Entrepreneurial success in family SMEs is largely determined by the knowledge, skills, and new ideas contributed by board directors, the most important actors in the formulation of corporate strategy and decision making. The composition of family SME boards has traditionally been homogeneous, as such boards usually comprise male family members. Boards' contributions, however, depend on their level of diversity and strategic involvement. This study analyzes the moderating effects of two main sources of board diversity in family firms, family involvement level and gender diversity, as potential means of enhancing family firms' success when exploiting entrepreneurial initiatives. This study also explores whether these two potential moderators depend on the strategic involvement of the board directors. Based on a sample of 230 Spanish family firms, we found that the link between entrepreneurial orientation and performance is stronger in firms with lower levels of family involvement and higher levels of gender diversity in the board. Moreover, the board's high strategic involvement may strengthen the positive impact of gender diversity and change the moderating influence of family involvement from negative to positive.
KW - Entrepreneurial orientation
KW - Firm performance
KW - Gender diversity
KW - Family involvement
KW - Strategic involvement level
KW - Board of directors
KW - Family firm
KW - SOCIOEMOTIONAL WEALTH PERSPECTIVE
KW - TOP MANAGEMENT TEAM
KW - RESEARCH AGENDA
KW - CORPORATE GOVERNANCE
KW - BUSINESS PERFORMANCE
KW - GENDER DIVERSITY
KW - INSTITUTIONAL PRESSURES
KW - FINANCIAL PERFORMANCE
KW - MEDIATING ROLE
KW - SYSTEMS
U2 - 10.1007/s11365-017-0473-4
DO - 10.1007/s11365-017-0473-4
M3 - Journal article
VL - 14
SP - 217
EP - 244
JO - International Entrepreneurship and Management Journal
JF - International Entrepreneurship and Management Journal
SN - 1554-7191
IS - 1
ER -