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The aim of this study is to investigate the relationship between heterogeneous collaborative networks and firm performance, using the resource-based view (RBV) and its extension through the knowledge-based view (KBV) as theoretical lens. Moreover, the authors examine family management and intellectual property rights (IPRs) as contingent factors that enhance the effectiveness of heterogeneous collaborative networks in achieving superior firm performance.

The hypotheses are developed and checked by using a panel data sample of 10,985 firm-year observations from 1,766 Spanish manufacturing firms over the period 2007–2016.

The results indicate that heterogeneous collaborative networks positively influence firm performance. Furthermore, the positive impact of these innovation networks on firm performance is reinforced by high levels of family management, and such effect is even stronger when there exists high levels of IPRs.

This research is the first, to our knowledge, to provide important new insights into the manner in which the effect of both family management and IPRs have the potential to amplify the performance gains attained from heterogenous collaborative networks.

This paper aims to examine the influence of family involvement in TMTs on product innovation efficiency and the contingent role of technological collaborations, combining insights from the resource-based view and the behavioral agency model.

This study empirically develops and tests the hypotheses using a longitudinal sample of 3,852 firm-year observations from Spanish manufacturing firms over the period 2006–2016.

The results reveal that family involvement in TMTs positively influences product innovation efficiency. The results also show that such positive effect is weakened as technological collaborations increase, and varies according to the partner type with whom the cooperation agreement is established. Specifically, the findings indicate that collaboration with suppliers appear to be the least detrimental for product innovation efficiency in family firms, followed by collaborations with customers and research organizations.

Family firms should consider appointing family members to their TMT to improve product innovation efficiency. Moreover, to enhance the effect of family management on product innovation efficiency, family managers should carefully select their technological partners.

This study is one of the first studies to theoretically explain and empirically demonstrate that family involvement in TMTs is a critical antecedent of product innovation efficiency and that technological collaborations moderate such link. Moreover, this study goes further in revealing that distinct types of partners have a differential moderating influence on the family involvement in TMTs-product innovation efficiency relationship. The results can be used to help managers and practitioners to boost innovation performance as well as to assist policymakers to design firm-level innovation policies to improve family firms' competitiveness.

Past research is mixed on family small and medium-sized enterprises’ (SMEs) use of external advisors and the limited empirical evidence is confined to developed markets. Drawing on the knowledge-based view of the firm, this research focuses on the “familiness” characteristic of SMEs and their use of external accountants as advisors in an emerging marketplace. Using internal resources for basic tasks is proposed to strengthen this relationship from a managerial cognition lens. Focusing also on SME internalization, this research probes the performance ramifications of using external accountants as advisors.

Hierarchical regression is used to test the hypotheses. The mediation hypothesis is tested by bootstrapping the indirect effect. The interaction hypothesis is visualized with simple slope analysis.

The results indicate that the familiness of SMEs is positively associated with the use of external advisors, and thereby, with high performance. SMEs with higher international exposure also use these external advisors to a greater degree. Family SMEs that have a focused use of internal resources for basic tasks benefit more from the use of external accountants for advising tasks.

This research sheds light on how family involvement in management influences firm performance, showing the moderating role of the use of internal advisors for basic tasks and the mediating role of the use of external accountants for advising. We add to the knowledge-based view by describing how family SMEs can utilize internal and external knowledge resources simultaneously.

Family firms (FF) reveal a considerable heterogeneity in their innovation behavior. Due to the successful long-term preservation of their innovation capacity via special resources and routines, multi-generational FF are of special interest in terms of learning from good practices. Against this background, the purpose of this paper is to ascertain principles for successful innovation behavior in long-term successful FF and to contribute to bridging the theory-practice gap.

Results are generated by analyzing innovation and innovation processes in five cases of long-term successful FF. On the basis of these good practice cases, the “rules of the game” of innovating are re-constructed using fine and system analyses based on narrative interviews with the FF CEOs.

Intense reflection on the innovation characteristics of the five good practice cases along with a critical examination of the literature on innovation in FF were used to derive practical suggestions for FF in the form of 11 principles for FF taking a proactive interest in innovation.

The 11 generated principles of successfully innovative FF were validated by FF CEOs who confirmed the practical relevance of these principles as valuable guidelines for successful innovation. Owners and managers may reflect on these principles against the background of the innovation behavior of their firms and adapt them to their contextual conditions.

These principles serve as tangible suggestions for developing adequate innovation management strategies for individual FF. Furthermore, two FF CEOs were invited to comment on the viability of principles based on their comprehensive practical experience.

This paper aims to investigate the effect of the nature of ownership and board characteristics on the investment choices in joint ventures (JVs) from the dimensional point of view, controlling for the effect of JV type and other components of intellectual capital.

The authors study a sample of Italian, Spanish, German and French nonfinancial listed firms over the 2010–2018 period, controlling for the fixed effects of the company's sector of operation and the year. The authors also analyze the effect of family control and influence on JV investment size, taking into consideration certain board characteristics, the type of JV, human capital efficiency, structural capital efficiency and capital employed efficiency while also controlling for a firm's profitability and size. To test the hypotheses, GLS panel data was used.

The results indicate that the size of the investment in JVs is smaller for family firms than for nonfamily businesses. The presence of CEO duality has an opposing effect on the size of the investment in joint ventures as it has a lowering effect in family businesses while it exerts an amplifier influence in nonfamily businesses. Moreover, the type of joint venture has a significant effect for family firms: the choice of a link joint venture reduces the size of the investment. The authors find that human capital efficiency increases JV investment size for all firms.

This study is the first to analyze the effect of the main dimension of socioemotional wealth – family control and influence – on a firm's JV investment size. It controls for the effect of JV type – link or scale – and the interplay of the other IC components.

The purpose of this study is to investigate whether and how inter-firm cooperation and firm age moderate the relationship between family ownership and productivity.

We first estimate the total factor productivity (TFP) of a large sample of Italian firms observed over the period 2010–2018 and then apply a Poisson random effects model.

TFP is, on average, higher for non-family firms (non-FFs) than for FF. Furthermore, inter-organizational cooperation and firm age mitigate the negative effect of family ownership. In detail, it is found that belonging to a network acts as a moderator in different ways according to firm age. Indeed, young FFs underperform non-FF peers, although the TFP gap decreases with age. In contrast, the benefits of a formal network are high for older FFs, suggesting that an age-related learning process is at work.

The study provides evidence that FFs can outperform non-FFs when they move away from Socio-Emotional Wealth-centered reference points and exploit knowledge flows arising from high levels of social capital. In the case of mature FFs, networking is a driver of TFP, allowing them to acquire external resources. Since FFs often do not have sufficient in-house knowledge and resources, they must be aware of the value of business cooperation. While preserving the familiar identity of small companies, networks grant FFs the competitive and scale advantages of being large.

Despite the wide but ambiguous body of research on the performance gap between FFs and non-FFs, little is known about the role of FFs’ heterogeneity. This study has proven successful in detecting age as a factor in heterogeneity, specifically to explain the network effect on the link between ownership and TFP. Based on a representative sample, the study provides a solid framework for FFs, policymakers and academic research on family-owned companies.