Purpose – The authors develop a systematic literature review of research on family multinationals, i.e. firms owned by one or more families that engage in foreign direct investments (FDIs). Building on the examination of past and current research, the authors develop an integrative framework and identify directions to advance this area of research.

Design/methodology/approach – Coherently with recommendations for systematic literature reviews, the authors developed and followed a systematic search protocol, selecting and reviewing 92 articles on family multinationals published from 1991 to 2021. The authors then identified the most recurrent and emerging themes in these studies to build an integrative framework.

Findings – In recent years, the literature on family firm internationalization has grown exponentially, and with it the focus on family multinationals. However, the study of family multinationals has many theoretical and methodological shortcomings that have only allowed marginally appreciating their entrepreneurial aspects. In this study, the authors take stock to identify the critical knowledge gaps and motivate future researchers to fill this breach.

Originality/value – In conducting the first systematic literature review of family multinationals, the authors provide an integrative account of current knowledge, develop a reconciling framework and identify directions for future research.