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Innovation And Productivity In Family Firms: Evidence From A Sample Of European Firms

Author

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  • Francesco Aiello
  • Lidia Mannarino
  • Valeria Pupo

    (Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF, Università della Calabria)

Abstract

This paper estimates the impact of R&D investments on the productivity of European family firms. For the period 2007-2009, we consider a Cobb-Douglas production function augmented by R&D intensity. Specifically, we address the questions of whether the R&D returns of family firms differ from that of non-family firms. Final outcomes suggest that, on average, non-family firms conducting R&D record a productivity gain of about 5-8 % compared to non-innovative firms. Additionally, the innovative family firms are about 6% lower compared to innovative non-family firms. Finally, the rate of return to R&D of family firms is lower than non-family firms.

Suggested Citation

  • Francesco Aiello & Lidia Mannarino & Valeria Pupo, 2017. "Innovation And Productivity In Family Firms: Evidence From A Sample Of European Firms," Working Papers 201706, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.
    • Handle: RePEc:clb:wpaper:201706
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    References listed on IDEAS

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    Cited by:

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    2. Martínez Bobillo, Alfredo & Rodríguez Sanz, Juan Antonio & Tejerina Gaite, Fernando, 2021. "Explanatory and predictive drivers of entrepreneurial orientation and innovation capacity: Evidence from family enterprises," Cuadernos de Gestión, Universidad del País Vasco - Instituto de Economía Aplicada a la Empresa (IEAE).
    3. Agostino, Mariarosaria & Errico, Lucia & Rondinella, Sandro & Trivieri, Francesco, 2023. "Enduring lending relationships and european firms default," Research in Economics, Elsevier, vol. 77(4), pages 459-477.
    4. Kazancoglu, Yigit & Sezer, Muruvvet Deniz & Ozkan-Ozen, Yesim Deniz & Mangla, Sachin Kumar & Kumar, Ajay, 2021. "Industry 4.0 impacts on responsible environmental and societal management in the family business," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    5. Svetlana Klessova & Sebastian Engell & Catherine Thomas, 2022. "Assessment of the advancement of market-upstream innovations and of the performance of research and innovation projects," Post-Print hal-03636260, HAL.
    6. Francesco Aiello & Paola Cardamone & Lidia Mannarino & Valeria Pupo, 2021. "Does external R&D matter for family firm innovation? Evidence from the Italian manufacturing industry," Small Business Economics, Springer, vol. 57(4), pages 1915-1930, December.
    7. Francesco Aiello & Lidia Mannarino & Valeria Pupo, 2024. "Family firm heterogeneity and patenting. Revising the role of size and age," Small Business Economics, Springer, vol. 63(1), pages 105-133, June.
    8. Francesco Aiello & Paola Cardamone & Lidia Mannarino & Valeria Pupo, 2021. "Green patenting and corporate social responsibility: Does family involvement in business matter?," Corporate Social Responsibility and Environmental Management, John Wiley & Sons, vol. 28(4), pages 1386-1396, July.
    9. Mariarosaria Agostino & Sabrina Ruberto, 2023. "Family Ties, Social Capital and Small Businesses’ Efficiency. Evidence from the Italian Food Sector," Journal of Family and Economic Issues, Springer, vol. 44(4), pages 935-955, December.
    10. Francesco Aiello & Lidia Mannarino & Valeria Pupo, 2023. "Family Firm Heterogeneity And Patenting. Revising The Role Of Size And Age," Working Papers 202301, Università della Calabria, Dipartimento di Economia, Statistica e Finanza "Giovanni Anania" - DESF.

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    More about this item

    Keywords

    Productivity; R&D returns; Family firms;
    All these keywords.

    JEL classification:

    • O30 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - General
    • L60 - Industrial Organization - - Industry Studies: Manufacturing - - - General
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance

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