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What is Family Managed Firms

Handbook of Research on Entrepreneurship, Innovation, and Internationalization
Firms whose management is in family hands.
Published in Chapter:
The Moderating Effect of Family Management on R&D Productivity in Privately Held Firms
María J. Martínez-Romero (Universidad de Almería, Spain), Rubén Martínez-Alonso (Universidad de Almería, Spain), M. Pilar Casado-Belmonte (Universidad de Almería, Spain), and Alfonso A. Rojo-Ramírez (Universidad de Almería, Spain)
DOI: 10.4018/978-1-5225-8479-7.ch012
The aim of this chapter is to analyze the moderating effect of family management on the relationship between R&D inputs and R&D outcomes, that is, R&D productivity. Using a longitudinal sample of 337 Spanish privately held manufacturing firms, the results show that in general terms, although family managed firms invest less in R&D than their non-family managed counterparts, they reinforce the conversion of R&D inputs into R&D outcomes. Moreover, the findings reveal that the strengthening effect of family management on R&D productivity is contingent upon the level of R&D expenditures. Thus, this chapter contributes to shedding some light into the debate regarding innovation management in privately held family firms.
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