What Makes a Family Firm Innovative? CEO Risk-Taking Propensity and the Organizational Context of Family Firms†
What Makes a Family Firm Innovative? CEO Risk-Taking Propensity and the Organizational Context of Family Firms†
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DOI：
10.1111/jpim.12203
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发表时间：
2015-05
影响因子：
10.5
通讯作者：
Nils D. Kraiczy;Andreas Hack;F. Kellermanns
中科院分区：
文献类型：
--
作者：
Nils D. Kraiczy;Andreas Hack;F. Kellermanns
调查家族企业的新产品组合创新性将最近在创新和家族企业研究中受到广泛关注的两个重要主题联系起来。首先，新产品组合的创新性被认为是公司业绩的关键决定因素。其次，对家族企业的研究主要集中在家族企业是否以及为何比其他组织形式或多或少具有创新性的问题上。调查家族企业创新性的研究通常采用风险导向的视角，将社会情感财富（SEW）确定为决定企业行为的主要参考。因此，先前的研究主要集中在预测与创新相关的家族企业行为的组织环境上，而忽略了偏好和首席执行官（CEO）行为的影响，而这两者都被证明会影响企业的结果。因此，本研究旨在扩展前人的研究，通过将CEO的倾向引入组织背景变量来解释中小型家族企业的新产品组合创新性。具体而言，本研究探讨了家族企业的组织背景（即高层管理团队 [TMT] 家族成员的所有权和家族企业的负责人）如何与 CEO 的冒险倾向相互作用，从而影响新产品组合的创新性。通过对 114 名德国制造业中小型家族企业 CEO 进行样本分析，结果表明 CEO 的冒险倾向对新产品组合的创新性具有积极影响。此外，分析表明，家族企业的组织环境影响首席执行官的冒险倾向与新产品组合创新之间的关系。具体来说，如果 TMT 家族成员的所有权水平较高（高 SEW），CEO 的冒险倾向与新产品组合创新性之间的关系就会较弱。此外，CEO 的冒险倾向对新产品组合创新性的影响在早期代际阶段（高 SEW）的家族企业中更强。这一结果表明，如果 SEW 是一个强有力的参考，那么家族企业的特定特征可以影响个人性格，进而影响高管的行为。因此，本研究通过同时考虑CEO个人偏好和家族企业的组织背景变量，有助于扩展对家族企业新产品组合创新性决定因素的认识。
Investigating the new product portfolio innovativeness of family firms connects two important topics that have recently received considerable attention in innovation and family firm research. First, new product portfolio innovativeness has been identified as a critical determinant of firm performance. Second, research on family firms has focused on the questions of if and why family firms are more or less innovative than other organizational forms. Research investigating the innovativeness of family firms has often applied a risk-oriented perspective by identifying socioemotional wealth (SEW) as the main reference that determines firm behavior. Thus, prior research has mainly focused on the organizational context to predict innovation-related family firm behavior and neglected the impact of preferences and the behavior of the chief executive officer (CEO), which have both been shown to affect firm outcomes. Hence, this study aims to extend the previous research by introducing the CEO's disposition to organizational context variables to explain the new product portfolio innovativeness of small and medium-sized family firms. Specifically, this study explores how the organizational context (i.e., ownership by top management team [TMT] family members and generation in charge of the family firm) of family firms interacts with CEO risk-taking propensity to affect new product portfolio innovativeness. Using a sample of 114 German CEOs of small and medium-sized family firms operating in manufacturing industries, the results show that CEO risk-taking propensity has a positive effect on new product portfolio innovativeness. Moreover, the analyses show that the organizational context of family firms impacts the relationship between CEO risk-taking propensity and new product portfolio innovativeness. Specifically, the relationship between CEO risk-taking propensity and new product portfolio innovativeness is weaker if levels of ownership by TMT family members are high (high SEW). Additionally, the effect of CEO risk-taking propensity on new product portfolio innovativeness is stronger in family firms at earlier generational stages (high SEW). This result suggests that if SEW is a strong reference, family firm-specific characteristics can affect individual dispositions and, in turn, the behaviors of executives. Therefore, this study helps extend the knowledge on the determinants of new product portfolio innovativeness of family firms by considering an individual CEO preference and the organizational context variables of family firms simultaneously.