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Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience

In: The Palgrave Handbook of Heterogeneity among Family Firms

Author

Listed:
  • Giovanna Campopiano

    (University of Witten/Herdecke)

  • Alfredo Massis

    (Free University of Bozen-Bolzano
    Lancaster University Management School)

  • Josip Kotlar

    (Lancaster University Management School)

Abstract

Building on extant research on family firm resilience, we propose a framework to discuss the impact of family-centered non-economic goals on a firm’s ability to absorb and react to environmental jolts. This chapter aims to advance current knowledge on the goal-related antecedents of innovation strategies in family firms by theorizing on how family firms approach slack resource deployment and choose between investments in closed vs. open innovation as a response to environmental jolts. Building on prospect theory assumptions about risk-taking behavior, we make a contribution to understanding heterogeneity of resilient family firms, which are spurred to innovate in light of the degree of relevance of pursued family-centered non-economic goals.

Suggested Citation

  • Giovanna Campopiano & Alfredo Massis & Josip Kotlar, 2019. "Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience," Springer Books, in: Esra Memili & Clay Dibrell (ed.), The Palgrave Handbook of Heterogeneity among Family Firms, chapter 28, pages 773-789, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-77676-7_28
    DOI: 10.1007/978-3-319-77676-7_28
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    Cited by:

    1. Fernandez, Viviana, 2023. "Family entrepreneurship around the world," International Review of Financial Analysis, Elsevier, vol. 89(C).

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