Family CEO duality and research and development intensity in public family enterprises: Temporality as a model boundary

Hsing-Er Lin, Andy Yu, Jeff Stambaugh, Chiung-Wen Tsao, Rebecca Jen-Hui Wang and I-Chieh Hsu

Journal of Business Research, 2023, vol. 158, issue C

Abstract: Surprisingly, despite the continuing interest in family firm innovation, few studies have articulated the critical role of family CEO duality (i.e., when the family CEO serves as the chairman of the board of directors). Drawing on the restricted socioemotional wealth perspective, we posit that family CEO duality is negatively associated with a family firm's research and development (R&D) intensity. We further propose that such a relationship is affected by two temporal conditions: firm age and CEO succession. We tested our model with a longitudinal dataset (2008–2016) comprising 528 public family firms and found a negative relationship between duality and R&D intensity. Additionally, firm age mitigates such a negative relationship. Specifically, duality in a younger family enterprise lessens R&D investment more so than in an older firm. However, the act of CEO succession has the opposite effect, with the negative relationship between duality and R&D investment intensity becoming stronger post-CEO succession than pre-CEO succession.

Keywords: Family CEO duality; R&D intensity; Temporality; Family governance; Restricted socioemotional wealth (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0148296322010372
Full text for ScienceDirect subscribers only

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:eee:jbrese:v:158:y:2023:i:c:s0148296322010372

DOI: 10.1016/j.jbusres.2022.113572

Access Statistics for this article

Journal of Business Research is currently edited by A. G. Woodside

More articles in Journal of Business Research from Elsevier
Bibliographic data for series maintained by Catherine Liu ().