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Portfolio Entrepreneurship as a Mixed Gamble: A Winning Bet for Family Entrepreneurs in SMEs

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  • Cristina Cruz
  • Rachida Justo

Abstract

We conceptualize portfolio entrepreneurship (PE) decisions as a “mixed gamble” in which family entrepreneurs weigh potential gain and loss outcomes and analyze the unique socioemotional wealth tradeoffs implied by this strategic decision. Our theory suggests that, in small and medium enterprises contexts, family entrepreneurs will be more likely to engage in PE than non‐family entrepreneurs. In addition, our framework explores the amplifying effect of age, gender and ethnic origin on the likelihood to take the PE gamble.

Suggested Citation

  • Cristina Cruz & Rachida Justo, 2017. "Portfolio Entrepreneurship as a Mixed Gamble: A Winning Bet for Family Entrepreneurs in SMEs," Journal of Small Business Management, Taylor & Francis Journals, vol. 55(4), pages 571-593, October.
    • Handle: RePEc:taf:ujbmxx:v:55:y:2017:i:4:p:571-593
    DOI: 10.1111/jsbm.12341
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    Citations

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    Cited by:

    1. Orlando Llanos-Contreras & Hugo Baier-Fuentes & María Huertas González-Serrano, 2022. "Direct and indirect effects of SEWi, family human capital and social capital on organizational social capital in small family firms," International Entrepreneurship and Management Journal, Springer, vol. 18(4), pages 1403-1418, December.
    2. Martínez-Alonso, Rubén & Martínez-Romero, María J. & Rojo-Ramírez, Alfonso A., 2024. "Unveiling new opportunities: A mixed gamble approach to external search breadth within family firms," Technovation, Elsevier, vol. 129(C).
    3. Taewoo Kim & Jennifer C. Sexton & Laura E. Marler, 2023. "Innovation as a mixed gamble in family firms: the moderating effect of inter-organizational cooperation," Small Business Economics, Springer, vol. 60(4), pages 1389-1408, April.
    4. Fuad, Mohammad & Thakur, Vinod & Pattnaik, Chinmay & Jain, Rajesh, 2024. "Family firms and the mixed gamble perspective in cross-border acquisitions: A study of Indian firms," International Business Review, Elsevier, vol. 33(1).
    5. Chitra Singla & Ludvig Levasseur, 2023. "The role of family in unfolding the process of external corporate venturing in small family businesses," Small Business Economics, Springer, vol. 61(1), pages 105-126, June.
    6. Calabrò, Andrea & Requejo, Ignacio & Reyes-Reina, Fernando & Sanchez-Bueno, Maria J. & Suárez-González, Isabel, 2024. "Nearby or faraway? Determinants of target selection in family firm acquisitions," International Business Review, Elsevier, vol. 33(4).
    7. Bing Song & Armin Schwienbacher, 2024. "How Do Family Founders Help Novice Entrepreneurs to Develop their Firms?," Small Business Economics, Springer, vol. 63(2), pages 781-804, August.
    8. Luis R. Gómez-Mejia & Francesco Chirico & Geoffrey Martin & Massimo Baù, 2023. "Best Among the Worst or Worst Among the Best? Socioemotional Wealth and Risk-Performance Returns for Family and Non-family Firms Under Financial Distress," Entrepreneurship Theory and Practice, , vol. 47(4), pages 1031-1058, July.

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