nach oben

Journal of International Entrepreneurship

Erschienen in:

01.06.2013

Family firms and internationalization: An exploratory study on high-tech entrepreneurial ventures

verfasst von: Evila Piva, Cristina Rossi-Lamastra, Alfredo De Massis

Erschienen in: Journal of International Entrepreneurship | Ausgabe 2/2013

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config

KI-gestützte Suche

Aus

Abstract

This paper empirically explores a highly relevant, although poorly investigated topic: internationalization of family firms that operate in high-tech industries. Specifically, we compare internationalization of family and nonfamily entrepreneurial ventures in these industries. Relying on prior studies on internationalization of family firms, we speculate on how the specificities of high-tech industries shape the advantages and disadvantages of family entrepreneurial ventures in pursuing internationalization as compared with their nonfamily peers. In the empirical part of the paper, through a rigorous quantitative analysis of unique data from 264 Italian high-tech entrepreneurial ventures, we explore whether in high-tech industries family entrepreneurial ventures are more (or less) likely to pursue internationalization than their nonfamily counterparts. Surprisingly enough, our econometric estimates indicate that, in high-tech industries, family entrepreneurial ventures exhibit a higher internationalization propensity than their nonfamily peers.

Vorheriger Artikel Editorial

Nächster Artikel A taxonomy of small- and medium-sized international family firms

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

über 102.000 Bücher
über 537 Zeitschriften

aus folgenden Fachgebieten:

Automobil + Motoren
Bauwesen + Immobilien
Business IT + Informatik
Elektrotechnik + Elektronik
Energie + Nachhaltigkeit
Finance + Banking
Management + Führung
Marketing + Vertrieb
Maschinenbau + Werkstoffe
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

über 67.000 Bücher
über 340 Zeitschriften

aus folgenden Fachgebieten:

Bauwesen + Immobilien
Business IT + Informatik
Finance + Banking
Management + Führung
Marketing + Vertrieb
Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Jetzt informieren

Nur mit Berechtigung zugänglich

Astrachan and Shanker (2003) have estimated that family firms generated 89 % of total tax returns, 64 % of GDP, and employ 62 % of the total workforce in the USA. Anderson and Reeb (2003) have shown that one third of the S&P 500 firms are controlled by the founding family.

We define entrepreneurial ventures as young and owner-managed firms established to commercialize novel ideas developed by their founders.

These capabilities include detecting new demand opportunities and leveraging the competitive advantage of foreign countries in the provision of low-cost and/or valuable resources (Alkhafaji 2003).

In particular, many works have documented that family entrepreneurial ventures have lower export propensity (Crick et al. 2006; Fernandez and Nieto 2005, 2006; Gallo and Pont 1996; Graves and Thomas 2004, 2006; Menendez-Requejo 2005; Thomas and Graves 2005).

Interestingly enough, the coefficient of LnNOwnerManagers_i is positive although not significant in all the models (see Table 4). This might indicate that entrepreneurial ventures with more owner-managers can rely on a wider social network, thus having advantages when internationalizing their offering (see, e.g., Freeman 2008 for a similar argument).

Alkhafaji AF (2003) Strategic management: formulation, implementation, and control in a dynamic environment. The Haworth Press, New York

Anderson RC, Reeb DM (2003) Founding-family ownership and firm performance: Evidence from the S&P 500. J Finance 58(3):1301–1327CrossRef

Arregle JL, Naldi L, Nordqvist M, Hitt MA (2012) Internationalization of family-controlled firms: A study of the effects of external involvement in governance. Entrep Theory Pract. doi:10.1111/j.1540-6520.2012.00541.x

Astrachan JH, Shanker MC (2003) Family businesses' contribution to the US economy: A closer look. Fam Bus Rev 16(3):211–219

Audretsch DB (1995) Innovation and industry evolution. MIT Press, Cambridge

Banca d’Italia (2004) Proprietà e controllo delle imprese italiane. Cosa è cambiato nel decennio 1993–2003 Milano

Berra L, Piatti L, Vitali G (1995) The internationalization process in the small and medium sized firms: A case study on the Italian clothing industry. Small Bus Econ 7(1):67–75CrossRef

Berrone P, Cruz C, Gomez-Mejia LR, Kintana ML (2010) Socioemotional wealth and corporate responses to institutional pressures: Do family-controlled firms pollute less? Adm Sci Q 55(1):82–113CrossRef

Bingham CB, Eisenhardt KM (2008) Position, leverage and opportunity: a typology of strategic logics linking resources with competitive advantage. Manag Decis Econ 29(2–3):241–256CrossRef

Bingham CB, Eisenhardt KM, Furr NR (2007) What makes a process a capability? Heuristics, strategy, and effective capture of opportunities. Strateg Entrep J 1(1–2):27–47CrossRef

Bourgeois LJ, Eisenhardt KM (1988) Strategic decision processes in high velocity environments: four cases in the microcomputer industry. Manag Sci 34(7):816–835CrossRef

Carpenter RE, Petersen BC (2002) Capital market imperfections, high-tech investment, and new equity financing. Econ J R Econ Soc 112(477):F54–F72

Caselli S, Di Giuli A (2010) Does the CFO matter in family firms? Evidence from Italy. Eur J Finan 16(5):381–411CrossRef

Casillas JC, Acedo FJ (2005) Internationalisation of Spanish family SMEs: An analysis of family involvement. Int J Glob Small Bus 1(2):134–151CrossRef

Casillas JC, Acedo FJ, Moreno AM (2007) International entrepreneurship in family businesses. Edward Elgar, Cheltenham

Cassia L, De Massis A, Giudici F (2011) Italy: The challenges of father–daughter succession in an Italian family business. In: Halkias D, Thurman P, Smith C, Nason RS (eds) Father–daughter succession in family business: A cross-cultural perspective. Gower Publishers, London, pp 141–155

Cassia L, De Massis A, Pizzurno E (2012) Strategic innovation and new product development in family firms: An empirically grounded theoretical framework. Int J Entrep Behav Res 18(2):198–232CrossRef

Chirico F, Ireland RD, Sirmon DG (2011) Franchising and the family firm: Creating unique sources of advantage through “familiness”. Entrep Theory Pract 35(3):483–501CrossRef

Chittoor R, Das R (2007) Professionalization of management and succession performance: A vital linkage. Fam Bus Rev 20(1):65–79CrossRef

Chrisman JJ, Chua JH, Pearson AW, Barnett T (2012) Family involvement, family influence, and family-centered non-economic goals in small firms. Entrep Theory Pract 36(2):267–293CrossRef

Chua JH, Chrisman JJ, Sharma P (1999) Defining the family business by behavior. Entrep Theory Pract 23(4):19–39

Chua JH, Chrisman JJ, Bergiel EB (2009) An agency theoretic analysis of the professionalized family firm. Entrep Theory Pract 33(2):355–372CrossRef

Churchill NC, Hatten KJ (1997) Non-market-based transfers of wealth and power: A research framework for family business. Fam Bus Rev 10(1):53–67CrossRef

Colombo MG, Grilli L (2005) Founders’ human capital and the growth of new technology-based firms: A competence-based view. Res Policy 34(6):795–816CrossRef

Colombo MG, Grilli L (2010) On growth drivers of high-tech start-ups: exploring the role of founders' human capital and venture capital. J Bus Ventur 25(6):610–626CrossRef

Colombo MG, Piva E (2012) Firms’ genetic characteristics and competence-enlarging strategies: A comparison between academic and non-academic high-tech start-ups. Res Policy 41(1):79–92CrossRef

Colombo MG, Rossi-Lamastra C (2012) The organizational design of high-tech start-ups: State of the art and directions for future research. In: Grandori A (ed) Handbook of economic organization. Integrating economic and organization theory. Edward Elgar, Cheltenham

Colombo MG, Grilli L, Piva E (2006) In search of complementary assets: The determinants of alliance formation of high-tech start-ups. Res Policy 35(8):1166–1199CrossRef

Colombo MG, Grilli L, Murtinu S, Piscitello L, Piva E (2009) Effects of international R&D alliances on performance of high-tech start-ups: A longitudinal analysis. Strateg Entrep J 3(4):346–368CrossRef

Craig JBL, Dibrell C (2006) The natural environment, innovation, and firm performance: A comparative study. Fam Bus Rev 19(4):275–288CrossRef

Crick D, Bradshaw R, Chaudhry S (2006) Successful internationalizing UK family and non-family-owned firms: A comparative study. J Small Bus Enterp Dev 13(4):498–512CrossRef

Daily C, Dalton D (1992) The relationship between governance structure and corporate performance in entrepreneurial firms. J Bus Ventur 7(5):375–386CrossRef

Davis PS, Harveston PD (2000) Internationalization and organizational growth: The impact of internet usage and technology involvement among entrepreneur led family businesses. Fam Bus Rev 13(2):107–120CrossRef

Davis JP, Eisenhardt KM, Bingham CB (2009) Optimal structure, market dynamism, and the strategy of simple rules. Adm Sci Q 54(3):413–452CrossRef

De Massis A (2012) Family involvement and procedural justice climate among non-family managers: the effects of affect, social identities, trust and risk of non-reciprocity. Entrep Theory Pract 36(6):1227–1234

De Massis A, Kotlar J, Frattini F (2012a) Is social capital perceived as a source of competitive advantage or disadvantage for family firms? An exploratory analysis of CEO perceptions. Journal of Entrepreneurship (in press)

De Massis A, Sharma PA, Chua JH, Chrisman JJ (2012b) Family business studies: Review and annotated bibliography. Edward Elgar, NorthhamptonCrossRef

De Massis A, Frattini F, Lichtenthaler U (2012c) Research on technological innovation in family firms: present debates and future directions. Fam Bus Rev. doi: 10.1177/0894486512466258

De Massis A, Frattini F, Pizzurno E, Cassia L (2013) Product innovation in family vs. non-family firms: an exploratory analysis. Journal of Small Business Management (in press)

Donnelley RG (1964) The family business. Harv Bus Rev 42(4):93–105

Dunn B (1996) Family enterprises in the UK: A special sector? Fam Bus Rev 9(2):139–155CrossRef

Earley PC (1989) Social loafing and collectivism: A comparison of the United States and the People's Republic of China. Adm Sci Q 34(4):565–581CrossRef

Eisenhardt KM, Martin JA (2000) Dynamic capabilities: what are they? Strateg Manag J 21(10–11):1105–1121CrossRef

Fernandez Z, Nieto MJ (2005) Internationalization strategy of small and medium sized family businesses: Some influential factors. Fam Bus Rev 18(1):77–89CrossRef

Fernandez Z, Nieto MJ (2006) Impact of ownership on the international involvement of SMEs. J Int Bus Stud 37(3):340–351CrossRef

Finegold D, Frenkel S (2006) Managing people where people really matter: the management of human resources in biotech companies. Int J Hum Resour Manag 17(1):1–24CrossRef

Freeman S (2008) Born global firms’ use of networks and alliances: a social dynamic perspective. In Gabrielson M, Kirpalani VHM (eds.) Handbook of research on born global firms. Edward Elgar, Northhampton, pp. 127–141

Gallo MA, Pont CG (1996) Important factors in family business internationalization. Fam Bus Rev 9(1):45–59CrossRef

Gallo MA, Sveen J (1991) Internationalizing the family business: Facilitating and restraining factors. Fam Bus Rev 4(2):181–190CrossRef

Gallo MA, Tàpies J, Cappuyns K (2004) Comparison of family and nonfamily business: Financial logic and personal preferences. Fam Bus Rev 17(4):303–318CrossRef

George G, Wiklund J, Zahra SA (2005) Ownership and the internationalization of small firms. J Manag 31(2):210–233

Gómez-Mejía LR, Haynes KT, Núñez-Nickel M, Jacobson KJL, Moyano-Fuentes J (2007) Socioemotional wealth and business risks in family-controlled firms: Evidence from Spanish olive oil mills. Adm Sci Q 52(1):106–137

Gomez-Mejia LR, Makri M, Kintana ML (2010) Diversification decisions in family-controlled firms. J Manag Stud 47(2):223–252CrossRef

Goodman EJ, Bamford J (1989) Small firms and industrial districts in Italy. Routledge, New York

Graves C, Thomas J (2004) Internationalisation of the family business: A longitudinal perspective. Int J Glob Small Bus 1(1):7–27CrossRef

Graves C, Thomas J (2006) Internationalization of Australian family businesses: A managerial capabilities perspective. Fam Bus Rev 19(3):207–224CrossRef

Gudmundson D, Hartman EA, Tower CB (1999) Strategic orientation: Differences between family and nonfamily firms. Fam Bus Rev 12(1):27–39CrossRef

Hall A, Nordqvist M (2008) Professional management in family businesses: Toward an extended understanding. Fam Bus Rev 21(1):51–69CrossRef

Hitt MA, Hoskisson RE, Kim H (1997) International diversification: Effects on innovation and firm performance in product diversified firms. Acad Manag J 40(4):767–798CrossRef

Hofstede GH (2001) Culture‬‬‬‬‬‬‬‬‬‬‬‬‬‬’s Consequences‬: comparing values, behaviors, institutions, and organizations across nations‬‬‬‬‬‬‬‬‬‬‬‬, 2nd edn. Sage Publications, Thousand Oaks‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬‬

Holt DT, Rutherford MW, Kuratko DF (2010) Advancing the field of family business research: Further testing the measurement properties of the F-PEC. Fam Bus Rev 23(1):76–88CrossRef

Howorth C, Westhead P, Wright M (2004) Buyouts, information asymmetry and the family management dyad. J Bus Ventur 19(4):509–534CrossRef

Hoy F, Sharma P (2010) Entrepreneurial Family Firms. In: Morris M, Ireland D (eds) Prentice hall entrepreneurship series. Prentice-Hall, Upper Saddle River

Johanson J, Vahlne JE (1977) The internationalization process of the firm: A model of knowledge development and increasing foreign market commitments. J Int Bus Stud 8(1):23–32CrossRef

Keeble D, Lawson C, Smith HL, Moore B, Wilkinson F (1998) International processes, networking and local embeddedness in technology intensive small firms. Small Bus Econ 11(4):327–342CrossRef

Klein SB, Astrachan JH, Smyrnios KX (2005) The F PEC scale of family influence: Construction, validation, and further implication for theory. Entrep Theory Pract 29(3):321–339CrossRef

Knight F (1921) Risk, uncertainty, and profit. Houghton Mifflin, Boston

Kohn TO (1997) Small firms as international players. Small Bus Econ 9(1):45–51CrossRef

Kontinen T, Ojala A (2010) The internationalization of family businesses: A review of extant research. J Fam Bus Strateg 1(2):97–107CrossRef

Kontinen T, Ojala A (2011a) International opportunity recognition among small and medium-sized family firms. J Small Bus Manag 49(3):490–514CrossRef

Kontinen T, Ojala A (2011b) Social capital in relation to the foreign market entry and post-entry operations of family SMEs. J Int Entrep 9(2):133–151CrossRef

Kontinen T, Ojala A (2012) Internationalization pathways among family-owned SMEs. Int Mark Rev 29(5):496–518CrossRef

La Porta R, Lopez-de-Silanes F, Shleifer A (1999) Corporate ownership around the world. J Finance 54(2):471–517CrossRef

Le Breton-Miller IL, Miller D (2006) Why do some family businesses out compete? Governance, long term orientations, and sustainable capability. Entrep Theory Pract 30(6):731–746CrossRef

Litz RA (1995) The family business: Toward definitional clarity. Fam Bus Rev 8(2):71–81CrossRef

Litz RA, Pearson AW, Lichfield S (2012) Charting the future of family business research. Fam Bus Rev 25(1):16–32CrossRef

Lyman AR (1991) Customer service: Does family ownership make a difference? Fam Bus Rev 4(3):303–324CrossRef

Masino G (2008) Culture and management in Italy: Tradition, modernization, new challenges. In: Davel E, Dupuis JP, Chanlat JF (eds) Gestion en contexte interculturel: approches, problématiques, pratiques et plongées. Presse de l’Université Laval et Télé-université UQAM, Québec

McCarthy IP, Lawrence TB, Wixted B, Gordon BR (2010) A multidimensional conceptualization of environmental velocity. Acad Manag Rev 35(4):604–626CrossRef

Menendez-Requejo S (2005) Growth and internationalisation of family businesses. Int J Glob Small Bus 1(2):122–133CrossRef

Miller D, Le Breton-Miller I, Scholnick B (2008) Stewardship vs. stagnation: An empirical comparison of small family and non-family businesses. J Manag Stud 45(1):51–78

OECD (2000) Small and medium-sized enterprises: Local strength, global reach. In: OECD (ed) OECD Policy Brief. OECD edn., pp. 1–8

Okoroafo SC (1999) Internationalization of family businesses: Evidence from Northwest Ohio, U.S.A. Fam Bus Rev 12(2):147–158CrossRef

Oviatt B, McDougall P (2005) The internationalization of entrepreneurship. J Int Bus Stud 36(1):2–8CrossRef

Romano CA, Tanewski GA, Smyrnios KX (2001) Capital structure decision making: A model for family business. J Bus Ventur 16(3):285–310CrossRef

Sapienza HJ, Autio E, George G, Zahra SA (2006) A capabilities perspective on the effects of early internationalization on firm survival and growth. Acad Manag Rev 31(4):914–933CrossRef

Schulze WS, Gedajlovic ER (2010) Guest editors’ introduction: Whither family business? J Manag Stud 47(2):191–204CrossRef

Sciascia S, Mazzola P, Astrachan J, Pieper T (2012) The role of family ownership in international entrepreneurship: Exploring nonlinear effects. Small Bus Econ 38(1):15–31CrossRef

Sirmon DG, Hitt MA (2003) Managing resources: Linking unique resources, management, and wealth creation in family firms. Entrep Theory Pract 27(4):339–358CrossRef

Sorenson RL (2011) Family business and social capital. Edward Elgar, NorthhamptonCrossRef

Steier L, Greenwood R (2000) Entrepreneurship and the evolution of angel financial networks. Organ Stud 21(1):163–192CrossRef

Steijvers T, Voordeckers W (2009) Private family ownership and the agency costs of debt. Fam Bus Rev 22(4):333–346CrossRef

Stewart A, Hitt MA (2012) Why can’t a family business be more like a nonfamily business? Modes of professionalization in family firms. Fam Bus Rev 25(1):58–86CrossRef

Svinth RL, Vinton KL (1993) Do family-owned businesses have a strategic advantage in international joint ventures? Fam Bus Rev 6(1):19–30CrossRef

Thomas J, Graves C (2005) Internationalising the family firm as a demonstration of an entrepreneurial culture. J Small Bus Entrep 17(2):91–113

Tosi HL, Gomez-Mejia LR (1989) The decoupling of CEO pay and performance: An agency theory perspective. Adm Sci Q 34(2):169–189CrossRef

Villalonga B, Amit R (2009) How are US family firms controlled? Rev Financ Stud 22(8):3047–3091CrossRef

von Krogh G, Rossi Lamastra C, Haefliger S (2012) Phenomenon-based research in management and organisation science: When is it rigorous and does it matter? Long Range Plan 45(4):277–298CrossRef

Weick KE (1993) The collapse of sensemaking in organizations: The Mann Gulch disaster. Adm Sci Q 38(4):628–652CrossRef

Welch LS (1992) The use of alliances by small firms in achieving internationalization. Scand Int Bus 1(2):21–37CrossRef

Westhead P (1997) Ambitions, external environment and strategic factor differences between family and non–family companies. Entrep Reg Dev 9(2):127–158CrossRef

Westhead P, Howorth C (2006) Ownership and management issues associated with family firm performance and company objectives. Fam Bus Rev 19(4):301–316CrossRef

Wu Z, Chua JH, Chrisman JJ (2007) Effects of family ownership and management on small business equity financing. J Bus Ventur 22(6):875–895CrossRef

Zahra SA (2003) International expansion of U.S. manufacturing family businesses: The effect of ownership and involvement. J Bus Ventur 18(4):495–512CrossRef

Zahra SA (2005) Entrepreneurial risk taking in family firms. Fam Bus Rev 18(1):23–40CrossRef

Zahra S (2010) Harvesting family firms’ organizational social capital: A relational perspective. J Manag Stud 47(2):345–366CrossRef

Zahra SA, Ireland RD, Hitt MA (2000) International expansion by new venture firms: International diversity, mode of market entry, technological learning, and performance. Acad Manag J 43(5):925–950CrossRef

Zhang J, Ma H (2009) Adoption of professional management in Chinese family business: A multilevel analysis of impetuses and impediments. Asia Pac J Manag 26:119–139CrossRef

Titel: Family firms and internationalization: An exploratory study on high-tech entrepreneurial ventures
verfasst von: Evila Piva
Cristina Rossi-Lamastra
Alfredo De Massis
Publikationsdatum: 01.06.2013
Verlag: Springer US
Erschienen in: Journal of International Entrepreneurship / Ausgabe 2/2013
Print ISSN: 1570-7385
Elektronische ISSN: 1573-7349
DOI: https://doi.org/10.1007/s10843-012-0100-y

Springer Professional

Abstract

Bitte loggen Sie sich ein, um Zugang zu Ihrer Lizenz zu erhalten.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Springer Professional "Wirtschaft"

Weitere Artikel der Ausgabe 2/2013

Editorial

The internationalization of small firms: The relationship between the global mindset and firms’ internationalization behavior

A taxonomy of small- and medium-sized international family firms

The internationalization of entrepreneurial firms from emerging economies: The roles of institutional transitions and market opportunities

Premium Partner