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

In: The Palgrave Handbook of Heterogeneity among Family Firms

Author

Listed:
  • Giovanna Campopiano

    (University of Witten/Herdecke)

  • Alfredo Massis

    (Free University of Bozen-Bolzano
    Lancaster University Management School)

  • Josip Kotlar

    (Lancaster University Management School)

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.

Suggested Citation

  • Giovanna Campopiano & Alfredo Massis & Josip Kotlar, 2019. "Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience," Springer Books, in: Esra Memili & Clay Dibrell (ed.), The Palgrave Handbook of Heterogeneity among Family Firms, chapter 28, pages 773-789, Springer.
    • Handle: RePEc:spr:sprchp:978-3-319-77676-7_28
    DOI: 10.1007/978-3-319-77676-7_28
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    Cited by:

    1. Discua Cruz, Allan & Hamilton, Eleanor & Campopiano, Giovanna & Jack, Sarah L., 2024. "Women’s entrepreneurial stewardship: The contribution of women to family business continuity in rural areas of Honduras," Journal of Family Business Strategy, Elsevier, vol. 15(1).
    2. Fernandez, Viviana, 2023. "Family entrepreneurship around the world," International Review of Financial Analysis, Elsevier, vol. 89(C).

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