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How family firms use governance mechanisms to mitigate the risks of ecosystems: a case study from healthcare

Author

Listed:
  • Dieudonnee Cobben

    (Open Universiteit)

  • Petra C. M. Neessen

    (Open Universiteit)

  • Diana Rus

    (Rijksuniversiteit Groningen)

  • Nadine Roijakkers

    (Open Universiteit)

Abstract

This study aims to increase our understanding of how family firms, acting as ecosystem orchestrators, mitigate perceived relational and performance risk in ecosystems via the use of governance mechanisms. We use the ecosystem governance literature to understand whether family firms’ characteristics lead to a unique governance approach in an ecosystem setting. Our findings and theoretical implications are threefold; (1) formal and informal governance mechanisms act as complements to mitigate relational and performance risks; (2) the choice of governance mechanisms differs for relational and performance risk; (3) changes in perceived risk over time result in shifts in the relative dominance of formal/informal governance mechanisms.

Suggested Citation

  • Dieudonnee Cobben & Petra C. M. Neessen & Diana Rus & Nadine Roijakkers, 2023. "How family firms use governance mechanisms to mitigate the risks of ecosystems: a case study from healthcare," Small Business Economics, Springer, vol. 60(4), pages 1369-1388, April.
    • Handle: RePEc:kap:sbusec:v:60:y:2023:i:4:d:10.1007_s11187-022-00667-w
    DOI: 10.1007/s11187-022-00667-w
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    References listed on IDEAS

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    More about this item

    Keywords

    Family firm; Ecosystem; Governance; Risk; Open innovation;
    All these keywords.

    JEL classification:

    • O36 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Open Innovation
    • O32 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Management of Technological Innovation and R&D

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