Corporate Venturing Determinants in Mexican Family Firms

Luis Arturo Torres-García, M. Concepción López-Fernández () and Ana M. Serrano-Bedia ()
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Luis Arturo Torres-García: Instituto de Emprendimiento “Eugenio Garza Lagüera”, Tecnologico de Monterrey
M. Concepción López-Fernández: University of Cantabria
Ana M. Serrano-Bedia: University of Cantabria

A chapter in Entrepreneurship and Family Business Vitality, 2020, pp 269-295 from Springer

Abstract: Abstract The objective of this study is to explore whether factors related to the focus of both the ability of the CEO to interpret the environmental signals and identify business opportunities and the characteristics of the firm in terms of previous innovation experience and ability to learn from that experience can determine the decision to enter into corporate venturing (CV) in Mexican family firms. Besides, we will consider the moderating effect of family members’ willingness to change on these relationships. In order to explore the proposed relationships, a theoretical framework that encompasses arguments from the resource-based view, the knowledge-based view, and the upper-echelons theory are used. To test our hypotheses, we conducted a study among CEOs in Mexican family firms of all sizes and performed a binomial logistic regression analysis based on a sample of 136 family companies across all sectors. The results obtained indicate that individual and firm variables are highly significant. All the variables except organizational learning, the effect of which is adverse, demonstrated positive effects, and this variable, also, is the only one moderated by the willingness to change.

Keywords: Venturing; Family firms; Opportunity detection; Organizational learning; Innovation; Willingness to change (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:spr:seschp:978-3-030-15526-1_14

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DOI: 10.1007/978-3-030-15526-1_14

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