Family Businesses Overcoming the COVID-19 Crisis with Innovation: An Exploratory Analysis of the Jewelry Retail Sector in Spain

Mariano Soler-Porta () and Beatriz Rodríguez Díaz
Additional contact information
Mariano Soler-Porta: Department of Accounting and Management, Universidad de Málaga, 29016 Málaga, Spain
Beatriz Rodríguez Díaz: Department of Applied Economics, Universidad de Málaga, 29016 Málaga, Spain

Sustainability, 2024, vol. 16, issue 6, 1-14

Abstract: Innovation is a trending topic in many disciplines but has a particular focus when it is studied in family businesses (FBs) due to their unique behavior in decision-making. Moreover, there is a gap in research on how these family businesses overcome economic crises by applying innovation. The main purpose of this paper is to provide empirical insight regarding this gap in an understudied sector, such as the Jewelry retail sector. This research was conducted in five cases, taken as examples of what these companies did, in terms of innovation, to overcome the COVID-19 crisis situation. This was considered sufficient, given the homogeneous structure of the sector and the exploratory nature of the research. The results revealed that different strategies caused them to obtain different results and clearly showed that FBs that used innovation during the crisis had better financial results. This paper contributes to the understanding of how FBs overcome economic crises by applying innovation. The implications for this type of business are also included.

Keywords: family businesses; innovation; COVID-19; Jewelry sector (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2024
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://www.mdpi.com/2071-1050/16/6/2259/pdf (application/pdf)
https://www.mdpi.com/2071-1050/16/6/2259/ (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:gam:jsusta:v:16:y:2024:i:6:p:2259-:d:1353500

Access Statistics for this article

Sustainability is currently edited by Ms. Alexandra Wu

More articles in Sustainability from MDPI
Bibliographic data for series maintained by MDPI Indexing Manager ().