Abstract
Objective – The objective of this paper is to present the results of a systematic literature review on empirical research of innovation in Family Business (FB). Design/methodology/approach – A comprehensive literature review based on an in-depth analysis of 59 empirical studies was conducted. Findings – The revision presents an integrative framework, identifying the main determinants and dimensions of innovation; and summarizes the main research avenues and existing gaps, in order to guide future research. Practical implications – The paper summarises the main research advances in innovation in Family Business worldwide. Consequently, it allows to inform better decisions of managers of these firms. Originality – The study of innovation in Family Business has emerged as a prolific research area in recent years but the current state of knowledge of how these firms innovate is still fragmented and incomplete. Consequently, several calls have been made for further research in the area.
Highlights
Business or Family Firm (FB) is an important business form in all countries (Chang, Wu, & Wong, 2010), representing the predominant form of business organization around the world (Sharma, Chrisman, & Gersick, 2012)
In order to organize existing research on the topic, we developed a conceptual framework based on Crossan and Apaydin (2010), and initially considered the following as main determinants of innovation: leadership, managerial levers, and business processes
Despite the growing maturity of Family Business (FB) research, the field is fragmented and there is no clear evidence about the consequences of family involvement in terms of innovation
Summary
Business or Family Firm (FB) is an important business form in all countries (Chang, Wu, & Wong, 2010), representing the predominant form of business organization around the world (Sharma, Chrisman, & Gersick, 2012). The study of FB has been considered a differentiated field within management (GonzálezFerrero, Guzmán-Vásquez, Pombo-Vejarano, & Trujillo-Dávila, 2011). FB research has been growing over the last decade, according to several recent studies Over the last few years, practitioners and researchers have realized the importance of innovation, as an essential source of competitive advantage (Dess & Picken, 2000). Based on Crossan and Apaydin (2010), we consider innovation as including both technological and non-technological (commercial, administrative...) innovation, allowing us to follow a comprehensive focus when conducting our research. There is enough theoretical evidence to state that innovation could be different in FBs and non FBs, such as, for example, the FBs’ unique and distinctive behavior, the exceptional bundle of resources and capabilities that FBs hold or the very involvement of the family
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