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The Influence of Family Directors on Internationalization Strategies in Family Businesses

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  • María de los Ángeles Aguirre Landa

    (Departamento de Ingeniería, Tecnológico Nacional de México, Misantla 93850, Veracruz, Mexico)

  • Karen Watkins Fassler

    (Departamento de Ingeniería, Tecnológico Nacional de México, Misantla 93850, Veracruz, Mexico
    Departamento de Administración de Empresas, Facultad de Economía y Empresa, Universidad Internacional De La Rioja, 26006 Logroño, La Rioja, Spain)

  • Jorge Adalberto López Gutiérrez

    (Departamento de Administración de Empresas, Instituto Tecnológico de Estudios Superiores de Monterrey (ITESM Puebla), Puebla 72830, Puebla, Mexico)

Abstract

This study analyzes the relationship between family control and the internationalization of family firms in Mexico. Grounded in the resource-based view and socioemotional wealth theory, it addresses the theoretical problem of how familiness and governance mechanisms influence strategic decisions in emerging markets. Based on 326 observations of family businesses (51) listed on the Mexican Stock Exchange (BMV) from 2009 to 2016, and using a probit regression model, five hypotheses are tested regarding the effects of family directors, board independence, CEO duality, tenure, and ownership concentration on internationalization. The results show that board independence and chair tenure foster internationalization, while ownership concentration and family directors discourage it. The findings contribute to understanding the need for governance reforms that promote more independence and leadership stability to foment internationalization strategies among family businesses in emerging markets.

Suggested Citation

  • María de los Ángeles Aguirre Landa & Karen Watkins Fassler & Jorge Adalberto López Gutiérrez, 2026. "The Influence of Family Directors on Internationalization Strategies in Family Businesses," World, MDPI, vol. 7(1), pages 1-18, January.
    • Handle: RePEc:gam:jworld:v:7:y:2026:i:1:p:5-:d:1834504
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