Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience

Giovanna Campopiano (), Alfredo Massis () and Josip Kotlar ()
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Giovanna Campopiano: University of Witten/Herdecke
Alfredo Massis: Free University of Bozen-Bolzano
Josip Kotlar: Lancaster University Management School

Chapter 28 in The Palgrave Handbook of Heterogeneity among Family Firms, 2019, pp 773-789 from Springer

Abstract: Abstract Building on extant research on family firm resilience, we propose a framework to discuss the impact of family-centered non-economic goals on a firm’s ability to absorb and react to environmental jolts. This chapter aims to advance current knowledge on the goal-related antecedents of innovation strategies in family firms by theorizing on how family firms approach slack resource deployment and choose between investments in closed vs. open innovation as a response to environmental jolts. Building on prospect theory assumptions about risk-taking behavior, we make a contribution to understanding heterogeneity of resilient family firms, which are spurred to innovate in light of the degree of relevance of pursued family-centered non-economic goals.

Keywords: Environmental jolts; Family-centered non-economic goals; Innovation; Family firm resilience (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-77676-7_28

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DOI: 10.1007/978-3-319-77676-7_28

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