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Family firms, R&D, and internationalization: the stewardship and socio-emotional wealth perspectives

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  • Wen-Ting Lin

    (National Cheng Kung University)

  • Linda C. Wang

    (City University of Hong Kong)

Abstract

This study draws on stewardship theory and socio-emotional wealth theory to postulate the moderating impact of family ownership on the relationship between research and development (R&D) and firm internationalization. In particular, it focuses on how the relationship between R&D and internationalization differs between family firms managed by a CEO who is a family member and family firms that are managed by a CEO from outside of the family. Based on longitudinal data gathered from 2000 through 2006 from 179 publicly listed high-tech firms in Taiwan, the results reveal that family CEOs further positively moderate the positive relationship between R&D and firm internationalization, while the moderating effect of non-family CEOs proved weaker regarding R&D and firm internationalization.

Suggested Citation

  • Wen-Ting Lin & Linda C. Wang, 2021. "Family firms, R&D, and internationalization: the stewardship and socio-emotional wealth perspectives," Asia Pacific Journal of Management, Springer, vol. 38(1), pages 91-119, March.
    • Handle: RePEc:kap:asiapa:v:38:y:2021:i:1:d:10.1007_s10490-018-9636-2
    DOI: 10.1007/s10490-018-9636-2
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