Why Do Some Boards of Directors in Family Firms Outperform Others When Strategizing? Analysing the Importance of Entrepreneurial Orientation

Unai Arzubiaga (), Txomin Iturralde and Amaia Maseda
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Unai Arzubiaga: University of the Basque Country
Txomin Iturralde: University of the Basque Country
Amaia Maseda: University of the Basque Country

Chapter Chapter 7 in New Challenges in Entrepreneurship and Finance, 2015, pp 103-114 from Springer

Abstract: Abstract The strategic role of the board of directors can be a competitive advantage for family firms. In fact, in medium-sized family firms the more the board is involved in the firm strategy, the better performance it gets. However, this relationship is mediated by some variables that may enhance or inhibit this effect. In this chapter, the impact of the entrepreneurial orientation variable is analysed as a mediator between the strategic involvement of the board of directors (SIBD) and performance. We test these hypotheses by surveying the CEOs of 230 Spanish medium-sized family businesses. The results obtained through the Partial Least Square (PLS) technique show that the entrepreneurial orientation of the family firm has a positive effect on the relationship between SIBD and performance.

Keywords: Entrepreneurial Orientation (EO); Family Firms; Strategic Involvement; EO Variable; Medium-sized Family Businesses (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-08888-4_7

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DOI: 10.1007/978-3-319-08888-4_7

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