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

Journal of International Entrepreneurship

Volumn 11, Issue 2, 2013, Pages 108-129

  Piva, Evila ^a   Rossi Lamastra, Cristina ^a   De Massis, Alfredo ^b,c  

^a POLITECNICO DI MILANO   (Italy)

^b UNIVERSITY OF BERGAMO   (Italy)

^c Department of Economics and Technology Management ^*  (Italy)

Author keywords

Family business; Family firms; High tech; International entrepreneurship; Internationalization

Indexed keywords

EID: 84878836432     PISSN: 15707385     EISSN: 15737349     Source Type: Journal    
DOI: 10.1007/s10843-012-0100-y     Document Type: Article

References (108)

1. Alkhafaji AF (2003) Strategic management: formulation, implementation, and control in a dynamic environment. The Haworth Press, New York.
2. Anderson RC, Reeb DM (2003) Founding-family ownership and firm performance: Evidence from the S&P 500. J Finance 58(3): 1301-1327.
3. 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.
4. Astrachan JH, Shanker MC (2003) Family businesses' contribution to the US economy: A closer look. Fam Bus Rev 16(3): 211-219.
5. Audretsch DB (1995) Innovation and industry evolution. MIT Press, Cambridge.
6. Banca d'Italia (2004) Proprietà e controllo delle imprese italiane. Cosa è cambiato nel decennio 1993-2003 Milano.
7. 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): 67-75.
8. 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): 82-113.
9. 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): 241-256.
10. 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): 27-47.
11. Bourgeois LJ, Eisenhardt KM (1988) Strategic decision processes in high velocity environments: four cases in the microcomputer industry. Manag Sci 34(7): 816-835.
12. Carpenter RE, Petersen BC (2002) Capital market imperfections, high-tech investment, and new equity financing. Econ J R Econ Soc 112(477): F54-F72.
13. Caselli S, Di Giuli A (2010) Does the CFO matter in family firms? Evidence from Italy. Eur J Finan 16(5): 381-411.
14. Casillas JC, Acedo FJ (2005) Internationalisation of Spanish family SMEs: An analysis of family involvement. Int J Glob Small Bus 1(2): 134-151.
15. Casillas JC, Acedo FJ, Moreno AM (2007) International entrepreneurship in family businesses. Edward Elgar, Cheltenham.
16. 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.
17. 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): 198-232.
18. Chirico F, Ireland RD, Sirmon DG (2011) Franchising and the family firm: Creating unique sources of advantage through "familiness". Entrep Theory Pract 35(3): 483-501.
19. Chittoor R, Das R (2007) Professionalization of management and succession performance: A vital linkage. Fam Bus Rev 20(1): 65-79.
20. 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): 267-293.
21. Chua JH, Chrisman JJ, Sharma P (1999) Defining the family business by behavior. Entrep Theory Pract 23(4): 19-39.
22. Chua JH, Chrisman JJ, Bergiel EB (2009) An agency theoretic analysis of the professionalized family firm. Entrep Theory Pract 33(2): 355-372.
23. Churchill NC, Hatten KJ (1997) Non-market-based transfers of wealth and power: A research framework for family business. Fam Bus Rev 10(1): 53-67.
24. Colombo MG, Grilli L (2005) Founders' human capital and the growth of new technology-based firms: A competence-based view. Res Policy 34(6): 795-816.
25. 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): 610-626.
26. 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): 79-92.
27. 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.
28. 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): 1166-1199.
29. 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): 346-368.
30. Craig JBL, Dibrell C (2006) The natural environment, innovation, and firm performance: A comparative study. Fam Bus Rev 19(4): 275-288.
31. 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): 498-512.
32. Daily C, Dalton D (1992) The relationship between governance structure and corporate performance in entrepreneurial firms. J Bus Ventur 7(5): 375-386.
33. 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): 107-120.
34. Davis JP, Eisenhardt KM, Bingham CB (2009) Optimal structure, market dynamism, and the strategy of simple rules. Adm Sci Q 54(3): 413-452.
35. 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.
36. 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).
37. De Massis A, Sharma PA, Chua JH, Chrisman JJ (2012b) Family business studies: Review and annotated bibliography. Edward Elgar, Northhampton.
38. 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.
39. 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).
40. Donnelley RG (1964) The family business. Harv Bus Rev 42(4): 93-105.
41. Dunn B (1996) Family enterprises in the UK: A special sector? Fam Bus Rev 9(2): 139-155.
42. 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): 565-581.
43. Eisenhardt KM, Martin JA (2000) Dynamic capabilities: what are they? Strateg Manag J 21(10-11): 1105-1121.
44. Fernandez Z, Nieto MJ (2005) Internationalization strategy of small and medium sized family businesses: Some influential factors. Fam Bus Rev 18(1): 77-89.
45. Fernandez Z, Nieto MJ (2006) Impact of ownership on the international involvement of SMEs. J Int Bus Stud 37(3): 340-351.
46. 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): 1-24.
47. 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.
48. Gallo MA, Pont CG (1996) Important factors in family business internationalization. Fam Bus Rev 9(1): 45-59.
49. Gallo MA, Sveen J (1991) Internationalizing the family business: Facilitating and restraining factors. Fam Bus Rev 4(2): 181-190.
50. Gallo MA, Tàpies J, Cappuyns K (2004) Comparison of family and nonfamily business: Financial logic and personal preferences. Fam Bus Rev 17(4): 303-318.
51. George G, Wiklund J, Zahra SA (2005) Ownership and the internationalization of small firms. J Manag 31(2): 210-233.
52. 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.
53. Gomez-Mejia LR, Makri M, Kintana ML (2010) Diversification decisions in family-controlled firms. J Manag Stud 47(2): 223-252.
54. Goodman EJ, Bamford J (1989) Small firms and industrial districts in Italy. Routledge, New York.
55. Graves C, Thomas J (2004) Internationalisation of the family business: A longitudinal perspective. Int J Glob Small Bus 1(1): 7-27.
56. Graves C, Thomas J (2006) Internationalization of Australian family businesses: A managerial capabilities perspective. Fam Bus Rev 19(3): 207-224.
57. Gudmundson D, Hartman EA, Tower CB (1999) Strategic orientation: Differences between family and nonfamily firms. Fam Bus Rev 12(1): 27-39.
58. Hall A, Nordqvist M (2008) Professional management in family businesses: Toward an extended understanding. Fam Bus Rev 21(1): 51-69.
59. Hitt MA, Hoskisson RE, Kim H (1997) International diversification: Effects on innovation and firm performance in product diversified firms. Acad Manag J 40(4): 767-798.
60. Hofstede GH (2001) Culture's Consequences: comparing values, behaviors, institutions, and organizations across nations, 2nd edn. Sage Publications, Thousand Oaks.
61. 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): 76-88.
62. Howorth C, Westhead P, Wright M (2004) Buyouts, information asymmetry and the family management dyad. J Bus Ventur 19(4): 509-534.
63. Hoy F, Sharma P (2010) Entrepreneurial Family Firms. In: Morris M, Ireland D (eds) Prentice hall entrepreneurship series. Prentice-Hall, Upper Saddle River.
64. 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): 23-32.
65. 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): 327-342.
66. 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): 321-339.
67. Knight F (1921) Risk, uncertainty, and profit. Houghton Mifflin, Boston.
68. Kohn TO (1997) Small firms as international players. Small Bus Econ 9(1): 45-51.
69. Kontinen T, Ojala A (2010) The internationalization of family businesses: A review of extant research. J Fam Bus Strateg 1(2): 97-107.
70. Kontinen T, Ojala A (2011a) International opportunity recognition among small and medium-sized family firms. J Small Bus Manag 49(3): 490-514.
71. 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): 133-151.
72. Kontinen T, Ojala A (2012) Internationalization pathways among family-owned SMEs. Int Mark Rev 29(5): 496-518.
73. La Porta R, Lopez-de-Silanes F, Shleifer A (1999) Corporate ownership around the world. J Finance 54(2): 471-517.
74. 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): 731-746.
75. Litz RA (1995) The family business: Toward definitional clarity. Fam Bus Rev 8(2): 71-81.
76. Litz RA, Pearson AW, Lichfield S (2012) Charting the future of family business research. Fam Bus Rev 25(1): 16-32.
77. Lyman AR (1991) Customer service: Does family ownership make a difference? Fam Bus Rev 4(3): 303-324.
78. 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.
79. McCarthy IP, Lawrence TB, Wixted B, Gordon BR (2010) A multidimensional conceptualization of environmental velocity. Acad Manag Rev 35(4): 604-626.
80. Menendez-Requejo S (2005) Growth and internationalisation of family businesses. Int J Glob Small Bus 1(2): 122-133.
81. 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.
82. OECD (2000) Small and medium-sized enterprises: Local strength, global reach. In: OECD (ed) OECD Policy Brief. OECD edn., pp. 1-8.
83. Okoroafo SC (1999) Internationalization of family businesses: Evidence from Northwest Ohio, U. S. A. Fam Bus Rev 12(2): 147-158.
84. Oviatt B, McDougall P (2005) The internationalization of entrepreneurship. J Int Bus Stud 36(1): 2-8.
85. Romano CA, Tanewski GA, Smyrnios KX (2001) Capital structure decision making: A model for family business. J Bus Ventur 16(3): 285-310.
86. 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): 914-933.
87. Schulze WS, Gedajlovic ER (2010) Guest editors' introduction: Whither family business? J Manag Stud 47(2): 191-204.
88. 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): 15-31.
89. Sirmon DG, Hitt MA (2003) Managing resources: Linking unique resources, management, and wealth creation in family firms. Entrep Theory Pract 27(4): 339-358.
90. Sorenson RL (2011) Family business and social capital. Edward Elgar, Northhampton.
91. Steier L, Greenwood R (2000) Entrepreneurship and the evolution of angel financial networks. Organ Stud 21(1): 163-192.
92. Steijvers T, Voordeckers W (2009) Private family ownership and the agency costs of debt. Fam Bus Rev 22(4): 333-346.
93. 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): 58-86.
94. Svinth RL, Vinton KL (1993) Do family-owned businesses have a strategic advantage in international joint ventures? Fam Bus Rev 6(1): 19-30.
95. Thomas J, Graves C (2005) Internationalising the family firm as a demonstration of an entrepreneurial culture. J Small Bus Entrep 17(2): 91-113.
96. Tosi HL, Gomez-Mejia LR (1989) The decoupling of CEO pay and performance: An agency theory perspective. Adm Sci Q 34(2): 169-189.
97. Villalonga B, Amit R (2009) How are US family firms controlled? Rev Financ Stud 22(8): 3047-3091.
98. 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): 277-298.
99. Weick KE (1993) The collapse of sensemaking in organizations: The Mann Gulch disaster. Adm Sci Q 38(4): 628-652.
100. Welch LS (1992) The use of alliances by small firms in achieving internationalization. Scand Int Bus 1(2): 21-37.
101. Westhead P (1997) Ambitions, external environment and strategic factor differences between family and non-family companies. Entrep Reg Dev 9(2): 127-158.
102. Westhead P, Howorth C (2006) Ownership and management issues associated with family firm performance and company objectives. Fam Bus Rev 19(4): 301-316.
103. Wu Z, Chua JH, Chrisman JJ (2007) Effects of family ownership and management on small business equity financing. J Bus Ventur 22(6): 875-895.
104. Zahra SA (2003) International expansion of U. S. manufacturing family businesses: The effect of ownership and involvement. J Bus Ventur 18(4): 495-512.
105. Zahra SA (2005) Entrepreneurial risk taking in family firms. Fam Bus Rev 18(1): 23-40.
106. Zahra S (2010) Harvesting family firms' organizational social capital: A relational perspective. J Manag Stud 47(2): 345-366.
107. 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): 925-950.
108. 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: 119-139.