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How Do Family Firms Launch New Businesses? A Developmental Perspective on Internal Corporate Venturing in Family Business

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  • Mara Brumana
  • Tommaso Minola
  • Robert P. Garrett
  • Shaun P. Digan

Abstract

This conceptual work depicts internal corporate venturing in family business as consisting of two separate and sequential strategic choices: first, the decision about the degree of relatedness between the parent firm and the venture; second, the definition of the level of venture autonomy. Drawing on stewardship theory, we argue that family business dynamics, and in particular the development of the ownership structure, influence how family firms pursue internal corporate venturing and make decisions related to such two steps. We also discuss the contingent effect of corporate governance characteristics and of the national legal system.

Suggested Citation

  • Mara Brumana & Tommaso Minola & Robert P. Garrett & Shaun P. Digan, 2017. "How Do Family Firms Launch New Businesses? A Developmental Perspective on Internal Corporate Venturing in Family Business," Journal of Small Business Management, Taylor & Francis Journals, vol. 55(4), pages 594-613, October.
    • Handle: RePEc:taf:ujbmxx:v:55:y:2017:i:4:p:594-613
    DOI: 10.1111/jsbm.12344
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    Cited by:

    1. Laura Zapata-Cantu & Ramón Sanguino & Ascensión Barroso & Laura Nicola-Gavrilă, 2023. "Family Business Adapting a New Digital-Based Economy: Opportunities and Challenges for Future Research," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(1), pages 408-425, March.
    2. 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.
    3. Angela Dettori & Michela Floris, 2023. "Improving continuity by simplifying the structure of family firms: a replication study," Management Review Quarterly, Springer, vol. 73(2), pages 635-660, June.
    4. Ignacio Cepeda-Carrion & Jaime Ortega-Gutierrez & Aurora Garrido-Moreno & Juan-Gabriel Cegarra-Navarro, 2023. "The Mediating Role of Knowledge Creation Processes in the Relationship Between Social Media and Open Innovation," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 14(2), pages 1275-1297, June.

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