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Is market learning the missing link between family involvement – firm performance relationship? A resource-based perspective

Volkan Yeniaras (), Pinar Sener () and Suheyl Unver ()
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Volkan Yeniaras: University of Sharjah, College of Business Administration
Pinar Sener: OCRE-Lab
Suheyl Unver: Business School

International Entrepreneurship and Management Journal, 2017, vol. 13, issue 2, No 11, 575-604

Abstract: Abstract Drawing on previous literature on proposing that there exists a positive relationship between family involvement and firm performance, this study refines the explanatory role of market learning in explaining the relationship between family involvement and firm performance to be conditional to firm age and environmental turbulence. The data from 344 small-medium enterprises show that family involvement is positively related to market exploitation while family involvement is negatively related to market exploration as family firms age. Also, we provide empirical evidence that family involvement is positively related to firm performance in turbulent environments through market exploration irrespective of the firm’s age. Conversely, family involvement is positively related to firm performance through market exploitation in less turbulent environments irrespective of firm age. This study provides empirical evidence of the market exploration and exploitation capabilities may be the capabilities that glue family involvement to firm performance.

Keywords: Family involvement; Firm performance; Market exploration; Market exploitation; Firm age; Environmental turbulence (search for similar items in EconPapers)
Date: 2017
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Handle: RePEc:spr:intemj:v:13:y:2017:i:2:d:10.1007_s11365-016-0417-4