Family firms, R&D, and internationalization: the stewardship and socio-emotional wealth perspectives

Wen-Ting Lin () and Linda C. Wang ()
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Wen-Ting Lin: National Cheng Kung University
Linda C. Wang: City University of Hong Kong

Asia Pacific Journal of Management, 2021, vol. 38, issue 1, No 5, 119 pages

Abstract: Abstract This study draws on stewardship theory and socio-emotional wealth theory to postulate the moderating impact of family ownership on the relationship between research and development (R&D) and firm internationalization. In particular, it focuses on how the relationship between R&D and internationalization differs between family firms managed by a CEO who is a family member and family firms that are managed by a CEO from outside of the family. Based on longitudinal data gathered from 2000 through 2006 from 179 publicly listed high-tech firms in Taiwan, the results reveal that family CEOs further positively moderate the positive relationship between R&D and firm internationalization, while the moderating effect of non-family CEOs proved weaker regarding R&D and firm internationalization.

Keywords: Family firms; Stewardship theory; Socio-emotional wealth theory; Internationalization; R&D; Taiwan; Asia; Innovation (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (5)

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DOI: 10.1007/s10490-018-9636-2

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