Examining the Impact of Innovation Forms on Sustainable Economic Performance: The Influence of Family Management

Rubén Martínez-Alonso, María J. Martínez-Romero and Alfonso A. Rojo-Ramírez
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Rubén Martínez-Alonso: Faculty of Economics and Business, Universidad de Almería, 04120 Almería, Spain
María J. Martínez-Romero: Faculty of Economics and Business, Universidad de Almería, 04120 Almería, Spain
Alfonso A. Rojo-Ramírez: Faculty of Economics and Business, Universidad de Almería, 04120 Almería, Spain

Sustainability, 2019, vol. 11, issue 21, 1-22

Abstract: The aim of this research is to explore the effect that innovation, as a potential source of sustained competitive advantage and firm growth, has on the achievement of sustainable economic performance. In particular, this paper empirically examines the influence of four innovation forms (intramural R&D, extramural R&D, product innovation, and process innovation) on firms’ sustainable economic performance, considering the moderating effect of family involvement in management. To test the hypotheses, random-effects regression analyses are applied to a longitudinal sample of 598 Spanish private manufacturing firms throughout the 2006–2015 period. The results show a negative effect of intramural and extramural R&D on sustainable economic performance and a positive effect of process innovation on sustainable economic performance. Moreover, a reinforced relationship between process innovation and sustainable economic performance is also revealed when family involvement in management acts as a moderator. The findings make several contributions to research and practice.

Keywords: sustainable economic performance; innovation; intramural R&D; extramural R&D; product innovation; process innovation; family involvement in management (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:11:y:2019:i:21:p:6132-:d:283175

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