Family involvement, environmental turbulence, and R&D investment: evidence from Listed Chinese SMEs

Jie Yang (), Jieqiong Ma (), Hongxin Zhao (), Jim Cater () and Mark Arnold ()
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Jie Yang: The University of Texas at Tyler
Jieqiong Ma: Hofstra University
Hongxin Zhao: Saint Louis University
Jim Cater: The University of Texas at Tyler
Mark Arnold: Saint Louis University

Small Business Economics, 2019, vol. 53, issue 4, No 10, 1017-1032

Abstract: Abstract This study draws on the insights of institutional theory and the environmental contingency perspective to explore family firm leaders’ approaches toward R&D investment in China. Our sample consisted of 577 manufacturing firms listed on the small and medium enterprises (SMEs) board of the Shenzhen Stock Exchange over a period of three years (2013–2015), representing a total of 1731 observations. Our findings show that family firms tend to invest less in R&D than their counterparts among non-family firms. Interestingly, this negative impact on R&D investment grows stronger under conditions of high technological turbulence and high government policy turbulence, but not under conditions of high market turbulence.

Keywords: Family firms; Environmental turbulence; R&D investment; China; L26; O32 (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (11)

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DOI: 10.1007/s11187-018-0113-6

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