This study offers a comprehensive framework for evaluating the moderating effects of size and age on the relationship between family ownership and innovation. The research hypotheses are tested on a large sample of Italian firms observed over the 2010–2017 period using a zero-inflated nonlinear count model. To refine the understanding of firm heterogeneity, we employ a three-way interaction approach. Results show that the patenting gap between FFs and non-FFs is sensitive to size and age. Compared to non-FFs, FFs underperform when they are small and young, or large and mature, with no substantial differences seen in other types of firms. By referring to the Socioemotional Wealth theory, we find that the founder effect, which differs over a firm’s life, is behind a good deal of these findings.
Speeding up and scaling up firm growth: An investigation of the organisationa...OECD CFE
Presentation by Maksim Belitski, Associate Professor in Entrepreneurship and Innovation, Reading University, UK at the seventh meeting of the Spatial productivity Lab of the OECD Trento Centre held on 20 February 2020.
Speeding up and scaling up firm growth: An investigation of the organisationa...OECD CFE
Presentation by Maksim Belitski, Associate Professor in Entrepreneurship and Innovation, Reading University, UK at the seventh meeting of the Spatial productivity Lab of the OECD Trento Centre held on 20 February 2020.
Case Questions1. Recall our definition of strategy in Chapter .docxwendolynhalbert
Case Questions
1. Recall our definition of strategy in Chapter 7 as “a comprehensive plan for accomplishing an organization's goals.” Explain why NOV's approach to acquisitions qualifies as corporate-level strategy. Be specific by discussing the company's moves, the nature and state of the industry that it's in (drilling equipment and services), the nature and state of the industry to which it's closely related (oil and gas drilling), and, most importantly, its goals. What are NOV's goals?
2. How does each of the following situational influences on organizational design affect organizational design (and strategy) at NOV—core technology, environment, and organizational size? How about organizational life cycle? At what stage in that cycle would you put NOV? Which of NOV's actions give an indication of the company's life-cycle stage as management sees it? (Note: NOV intends to spend $100 billion in the next 10 years.)
3. Wall Street has a surprisingly uneasy relationship with NOV. Stock price, for example, hasn't nearly kept pace with increase in earnings over the past decade. For one thing, some sectors of the company's business make its overall performance somewhat volatile, and analysts at Motley Fool observe that “NOV's volatility isn't its best feature.” Asked about the spinoff of DistributionNOW and the subsequent reorganization, Pete Miller replied: “We think it's going to give the analysts a better opportunity to be able to look at the company and say, ‘OK, I understand this part of it, and I understand this part of it,’ and probably get a better valuation.”
Strategically speaking, how would you characterize the message that the combination spinoff and organizational redesign are supposed to send to investors and analysts? Why do you suppose NOV management felt the need to send it? Why do you suppose it was sent when it was sent?
4. An investment analyst asked Pete Miller how his acquisitions strategy affects the company “from the top down in your company culture.” How does the company culture “allow your employees to buy into these new companies coming into the fold?” Miller replied, “I don't think a company like ours can have a culture. We're too spread out. In 63 countries, you've got all different cultures.” But he also added that employees understand how a strategy of acquisition provides opportunity. “I tell everybody in this company, I'm not sure what a CEO is supposed to do, but one of the things that I do try to do is provide opportunity to our employees. You provide that opportunity by growing. As you continue to grow, and people actually see the opportunity, then they see what it affords to employees as well as customers.”
What about you? Would this theory of company culture, along with its theory about employee appreciation of opportunity, appeal to you? Would it be relevant to you in deciding whether to take a job at NOV? Would you want to work for a company with 64,000 employees in 63 countries?
The key to this assignmen ...
Equity Effectiveness SHRM Conference Puerto Rico 18 sept2014James Sillery
Presentation at the 2014 Puerto Rico Chapter SHRM Conference and Exposition on achieving equity effectiveness for multinational and domestic companies.
Discussion of the key strategies that remain in place from prior year for addressing tough economy and need to find profitability and differentiation in a competitive market.
Week 8 discussion Maintenance Tasks – Operational and Maintenanc.docxhelzerpatrina
Week 8 discussion
Maintenance Tasks – Operational and Maintenance (O&M) costs make up a large portion of the total cost of ownership (TCO), regardless of system “size”. It is said that O&M costs make up the lion’s share of cost throughout the system’s life cycle, and ongoing expenses can determine the economic lifespan of a system. Maintenance tasks can be broken down into four (4) categories:
1. Corrective Maintenance
2. Adaptive Maintenance
3. Perfective Maintenance
4. Preventive Maintenance
The process of “racking & stacking” these maintenance tasks is no small feat; especially for a large system. This is why most firms implement a Change Control Board (CCB; or, you may have heard it referred to as a Configuration Control Board—they are synonymous in nature). Even though the lead systems analyst is typically on this board, they do not decide the priority of these maintenance tasks—however, it is imperative that they understand the nature of each maintenance category.
· For this discussion…..
1. Properly describe each of the maintenance categories
2. Give a specific example of each maintenance category, either using the class case study or a system that you are familiar with, and
3. Assign each example a specific priority (level 3 being the lowest; level 1 being the highest), based on your knowledge of the system—explain in detail “why” you would give it that specific priority.
INFORMATION
GOVERNANCE
Founded in 1807, John Wiley & Sons is the oldest independent publishing company in
the United States. With offi ces in North America, Europe, Asia, and Australia, Wiley
is globally committed to developing and marketing print and electronic products and
services for our customers’ professional and personal knowledge and understanding.
The Wiley CIO series provides information, tools, and insights to IT executives
and managers. The products in this series cover a wide range of topics that supply
strategic and implementation guidance on the latest technology trends, leadership, and
emerging best practices.
Titles in the Wiley CIO series include:
The Agile Architecture Revolution: How Cloud Computing, REST-Based SOA, and
Mobile Computing Are Changing Enterprise IT by Jason BloombergT
Big Data, Big Analytics: Emerging Business Intelligence and Analytic Trends for Today’s
Businesses by Michael Minelli, Michele Chambers, and Ambiga Dhiraj
The Chief Information Offi cer’s Body of Knowledge: People, Process, and Technology by
Dean Lane
CIO Best Practices: Enabling Strategic Value with Information Technology (Second
Edition) by Joe Stenzel, Randy Betancourt, Gary Cokins, Alyssa Farrell, Bill
Flemming, Michael H. Hugos, Jonathan Hujsak, and Karl Schubert
The CIO Playbook: Strategies and Best Practices for IT Leaders to Deliver Value by
Nicholas R. Colisto
Enterprise Performance Management Done Right: An Operating System for Your
Organization by Ron Dimon
Executive’s Guide to Virtual Worlds: How Avatars Are Transformin ...
This whitepaper sets out the 1E view of how organizations can blend the benefits of both centralized and decentralized approaches to IT management, resulting in reduced costs, greater business agility and happier, more motivated users.
Case Questions1. Recall our definition of strategy in Chapter .docxwendolynhalbert
Case Questions
1. Recall our definition of strategy in Chapter 7 as “a comprehensive plan for accomplishing an organization's goals.” Explain why NOV's approach to acquisitions qualifies as corporate-level strategy. Be specific by discussing the company's moves, the nature and state of the industry that it's in (drilling equipment and services), the nature and state of the industry to which it's closely related (oil and gas drilling), and, most importantly, its goals. What are NOV's goals?
2. How does each of the following situational influences on organizational design affect organizational design (and strategy) at NOV—core technology, environment, and organizational size? How about organizational life cycle? At what stage in that cycle would you put NOV? Which of NOV's actions give an indication of the company's life-cycle stage as management sees it? (Note: NOV intends to spend $100 billion in the next 10 years.)
3. Wall Street has a surprisingly uneasy relationship with NOV. Stock price, for example, hasn't nearly kept pace with increase in earnings over the past decade. For one thing, some sectors of the company's business make its overall performance somewhat volatile, and analysts at Motley Fool observe that “NOV's volatility isn't its best feature.” Asked about the spinoff of DistributionNOW and the subsequent reorganization, Pete Miller replied: “We think it's going to give the analysts a better opportunity to be able to look at the company and say, ‘OK, I understand this part of it, and I understand this part of it,’ and probably get a better valuation.”
Strategically speaking, how would you characterize the message that the combination spinoff and organizational redesign are supposed to send to investors and analysts? Why do you suppose NOV management felt the need to send it? Why do you suppose it was sent when it was sent?
4. An investment analyst asked Pete Miller how his acquisitions strategy affects the company “from the top down in your company culture.” How does the company culture “allow your employees to buy into these new companies coming into the fold?” Miller replied, “I don't think a company like ours can have a culture. We're too spread out. In 63 countries, you've got all different cultures.” But he also added that employees understand how a strategy of acquisition provides opportunity. “I tell everybody in this company, I'm not sure what a CEO is supposed to do, but one of the things that I do try to do is provide opportunity to our employees. You provide that opportunity by growing. As you continue to grow, and people actually see the opportunity, then they see what it affords to employees as well as customers.”
What about you? Would this theory of company culture, along with its theory about employee appreciation of opportunity, appeal to you? Would it be relevant to you in deciding whether to take a job at NOV? Would you want to work for a company with 64,000 employees in 63 countries?
The key to this assignmen ...
Equity Effectiveness SHRM Conference Puerto Rico 18 sept2014James Sillery
Presentation at the 2014 Puerto Rico Chapter SHRM Conference and Exposition on achieving equity effectiveness for multinational and domestic companies.
Discussion of the key strategies that remain in place from prior year for addressing tough economy and need to find profitability and differentiation in a competitive market.
Week 8 discussion Maintenance Tasks – Operational and Maintenanc.docxhelzerpatrina
Week 8 discussion
Maintenance Tasks – Operational and Maintenance (O&M) costs make up a large portion of the total cost of ownership (TCO), regardless of system “size”. It is said that O&M costs make up the lion’s share of cost throughout the system’s life cycle, and ongoing expenses can determine the economic lifespan of a system. Maintenance tasks can be broken down into four (4) categories:
1. Corrective Maintenance
2. Adaptive Maintenance
3. Perfective Maintenance
4. Preventive Maintenance
The process of “racking & stacking” these maintenance tasks is no small feat; especially for a large system. This is why most firms implement a Change Control Board (CCB; or, you may have heard it referred to as a Configuration Control Board—they are synonymous in nature). Even though the lead systems analyst is typically on this board, they do not decide the priority of these maintenance tasks—however, it is imperative that they understand the nature of each maintenance category.
· For this discussion…..
1. Properly describe each of the maintenance categories
2. Give a specific example of each maintenance category, either using the class case study or a system that you are familiar with, and
3. Assign each example a specific priority (level 3 being the lowest; level 1 being the highest), based on your knowledge of the system—explain in detail “why” you would give it that specific priority.
INFORMATION
GOVERNANCE
Founded in 1807, John Wiley & Sons is the oldest independent publishing company in
the United States. With offi ces in North America, Europe, Asia, and Australia, Wiley
is globally committed to developing and marketing print and electronic products and
services for our customers’ professional and personal knowledge and understanding.
The Wiley CIO series provides information, tools, and insights to IT executives
and managers. The products in this series cover a wide range of topics that supply
strategic and implementation guidance on the latest technology trends, leadership, and
emerging best practices.
Titles in the Wiley CIO series include:
The Agile Architecture Revolution: How Cloud Computing, REST-Based SOA, and
Mobile Computing Are Changing Enterprise IT by Jason BloombergT
Big Data, Big Analytics: Emerging Business Intelligence and Analytic Trends for Today’s
Businesses by Michael Minelli, Michele Chambers, and Ambiga Dhiraj
The Chief Information Offi cer’s Body of Knowledge: People, Process, and Technology by
Dean Lane
CIO Best Practices: Enabling Strategic Value with Information Technology (Second
Edition) by Joe Stenzel, Randy Betancourt, Gary Cokins, Alyssa Farrell, Bill
Flemming, Michael H. Hugos, Jonathan Hujsak, and Karl Schubert
The CIO Playbook: Strategies and Best Practices for IT Leaders to Deliver Value by
Nicholas R. Colisto
Enterprise Performance Management Done Right: An Operating System for Your
Organization by Ron Dimon
Executive’s Guide to Virtual Worlds: How Avatars Are Transformin ...
This whitepaper sets out the 1E view of how organizations can blend the benefits of both centralized and decentralized approaches to IT management, resulting in reduced costs, greater business agility and happier, more motivated users.
Similar to Family firm heterogeneity and patenting. Revising the role of size and age (20)
Presentazione alla giornata studio organizzata Liberi, oltre le illusioni
Panel su Produttività e PMI (Coordinato da Costantino De Blasi)
Milano, Ottobre 2019
Explaining differences in efficiency. A meta-study on judicial literatureUniversity of Calabria
This is on going research firstly presented at the EWEPA 2019, 30th Anniversary of the European Workshop on Efficiency and Productivity Analysis (11-13 June 2019, Senate House, London)
This presentation is also downloadable at
https://sites.google.com/unical.it/francescoaiello/home
Comments are welcome
Contacts:
francesco.aiello@unical.it
graziella.bonanno@unicampania.it
francescofoglia.eu@gmail.com
Queste riflessioni sono state utilizzate durante la giornata di presentazione del rapporto “L’economia della Calabria” redatta dalla Banca d’Italia (filiale di Catanzaro) tenutasi lunedì 19 Giugno 2017 presso l’Aula University Club dell’Università della Calabria. L’iniziativa è stata co-organizzata dalla Banca d’Italia (Filiale di Catanzaro) e dal Dipartimento di Economia, Statistica e Finanza “Giovanni Anania” dell’UNICAL.
Si tratta della presentazione di Francesco Aiello (Unical e OpenCalabria) all'incontro su Economia e Territorio organizzato il 9 Maggio 2017 all'Università della Calabria
Francesco Aiello al Forum Fusioni organizzato dalla Regione CalabriaUniversity of Calabria
Si tratta della presentazione di Francesco Aiello (Fondatore di OpenCalabria) al forum sulle fusioni dei comuni organizzato il 15 Maggio 2017 dalla Regione Calabria presso la Cittadella Regionale di Germaneto (Catanzaro)
Dinamiche del settore manifatturiero Italiano e prospettive di sviluppo nel M...University of Calabria
"Prospettive di Sviluppo nel Mezzogiorno - Ruolo dell’Artigianato»
14 e 15 Novembre 2016, Centro Congressi Hotel la Principessa, Campora S. G. - Amantea (CS)
I Seminari del Progetto Lab.Art. - Laboratorio Artigiano
CGIL - Fondazione Giuseppe Di Vittorio - FondArtigianato
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the what'sapp contact of my personal vendor.
+12349014282
#pi network #pi coins #legit #passive income
#US
Lecture slide titled Fraud Risk Mitigation, Webinar Lecture Delivered at the Society for West African Internal Audit Practitioners (SWAIAP) on Wednesday, November 8, 2023.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the what'sapp information for my personal pi vendor.
+12349014282
This presentation poster infographic delves into the multifaceted impacts of globalization through the lens of Nike, a prominent global brand. It explores how globalization has reshaped Nike's supply chain, marketing strategies, and cultural influence worldwide, examining both the benefits and challenges associated with its global expansion.
PPrreesseenntteedd bbyy:: GGrroouupp 66
GGlloobbaalliizzaattiioonn
o f
PP
oo
ll
yy
ee
ss
tt
ee
rr
RR
uu
bb
bb
ee
rr
EE
tt
hh
yy
ll
ee
nn
ee
VV
ii
nn
yy
ll
AA
cc
ee
tt
aa
tt
ee
GG
ee
nn
uu
ii
nn
ee
LL
ee
aa
tt
hh
ee
rr
SS
yy
nn
tt
hh
ee
tt
ii
cc
LL
ee
aa
tt
hh
ee
rr
CC
oo
tt
tt
oo
nn
C
o
u
n
t
r
i
e
s
I
n
v
o
l
v
e
d
Ni
k
e
h
a
s
m
o
r
e
t
h
a
n
7
0
0
s
h
o
p
s
i
n
c
o
n
t
r
a
c
t
w
i
t
h
w
o
r
l
d
w
i
d
e,
w
h
e
r
e
i
n
t
h
e
i
r
offi
c
e
s
a
n
d
i
n
d
e
p
e
n
d
e
n
t
fa
c
t
o
r
y
o
u
t
l
e
t
s
a
r
e
fo
u
n
d
w
i
t
h
i
n
t
h
e
p
r
e
m
i
s
e
s
of
ap
p
r
o
x
i
m
a
t
e
l
y
4
5
c
o
u
n
t
r
i
e
s.
AAuussttrraalliiaa
China
India
IInnddoonneessiiaa
TThhaaiillaanndd
TTuurrkkeeyy
USA
VViieettnnaamm
NNiikkee SSuuppppllyy CChhaaiinn
RRuubbbbeerr,, FFaabbrriicc
aanndd ootthheerr rraaww
mmaatteerriiaallss
Shoe
MMaannuuffaaccttuurriinngg
aanndd AAsssseemmbbllyy
MMaarrkkeettiinngg
SSppoorrttiinngg ggooooddss,,
ddeevveellooppmmeenntt
aanndd SShhooee ssttoorreess
OOnnlliinnee,, CCaattaalloogg
aanndd ootthheerr rreettaaiill
NNiikkee bbrraannddeedd
shoes
PPrroodduucctt
ddeevveellooppmmeenntt
CCuussttoommeerr nneeeeddss//wwaannttss ffeeeeddbbaacckk
NNiikk
Nike Supply Chain
Globalization of Nike
Nike Manufacturing Process
Rubber Materials Nike
Ethylene Vinyl Acetate Nike
Genuine Leather Nike
Synthetic Leather Nike
Cotton in Nike Apparel
Nike Shops Worldwide
Nike Manufacturing Countries
Cold Cement Assembly Nike
3D Printing Nike Shoes
Nike Product Development
Nike Marketing Strategies
Nike Customer Feedback
Nike Distribution Centers
Automation in Nike Manufacturing
Nike Consumer Direct Acceleration
Nike Logistics and Transport
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just what'sapp this number below. I sold about 3000 pi coins to him and he paid me immediately.
+12349014282
Abhay Bhutada Leads Poonawalla Fincorp To Record Low NPA And Unprecedented Gr...Vighnesh Shashtri
Under the leadership of Abhay Bhutada, Poonawalla Fincorp has achieved record-low Non-Performing Assets (NPA) and witnessed unprecedented growth. Bhutada's strategic vision and effective management have significantly enhanced the company's financial health, showcasing a robust performance in the financial sector. This achievement underscores the company's resilience and ability to thrive in a competitive market, setting a new benchmark for operational excellence in the industry.
Family firm heterogeneity and patenting. Revising the role of size and age
1. FAMILY FIRM HETEROGENEITY AND PATENTING.
REVISING THE ROLE OF SIZE AND AGE
FRANCESCO AIELLO, LIDIA MANNARINO, VALERIA PUPO
DIPARTIMENTO DI ECONOMIA, STATISTICA E FINANZA «GIOVANNI ANANIA» UNIVERSITÀ DELLA
CALABRIA, ARCAVACATA DI RENDE (COSENZA)
Small Bus Econ (2023).
https://doi.org/10.1007/s11187-023-00805-y
Accepted 08 July 2023 – Published 31 July 2023
AISRE, XLIV CONFERENZA SCIENTIFICA ANNUALE, 2023 - Naples 6-8 Sept 2023
2. CONCEPTUAL MODEL AND HYPOTHESES
Family ownership
firms
Innovative
performance
H1 (-)
Size
H2
(+)
Age
H3
(+, -)
H4
(+, -)
3. CONCEPTUAL MODEL AND HYPOTHESES
Family ownership
firms
Innovative
performance
H1 (-)
Size
H2
(+)
Age
H3
(+, -)
H4
(+, -)
4. DATA AND SAMPLE DESCRIPTION
• Data from the Orbis Europe database of Bureau van Dijk, which comprised an initial
panel of about 26,000 firms that applied for at least one patent with the EPO
between 1981 and 2017
• Patents are from the Orbis Intellectual Property which was linked to PATSTAT released
by the European Patent Office (EPO).
• Orbis IP makes available a unique firm identifier that allows matching between firm-
level patents and balance sheet data contained in Bureau van Dijk’s Orbis Europe
• The sample is composed of 22,541 observations from about 3,500 Italian companies
observed from 2010 to 2017.
5. The distribution of the sample of firms
Whole sample Family firms Nonfamily firms
N. % N. % N. %
Observations 22,541 100% 10,419 46.22% 12,122 53.78%
Firm size
Micro (≤ €2 m) 2,487 11.03% 1,997 19.17% 490 4.04%
Small (≤ €10 m) 7,649 33.93% 4,985 47.85% 2,664 21.98%
Medium (≤ €50 m) 8,381 37.18% 3,034 29.12% 5,347 44.11%
Large (> €50) 4,024 17.85% 403 3.87% 3,621 29.87%
Firm age
≤ 30 years 13,587 60.28% 6,194 59.45% 7,393 60.99%
>30 8,954 39.72% 4,225 40.55% 4,729 39.01%
Sectors
High Tech 1,955 8.67% 604 5.80% 1,351 11.15%
Medium high tech 11,170 49.55% 4,855 46.60% 6,315 52.10%
Medium-low tech 6,373 28.27% 3,417 32.80% 2,956 24.39%
Low tech 3,043 13.50% 1,543 14.81% 1,500 12.37%
Territorial area
Northeast 9,020 40.02% 4,094 39.29% 4,926 40.64%
Northwest 10,076 44.70% 4,518 43.36% 5,558 45.85%
Center 2,664 11.82% 1,390 13.34% 1,274 10.51%
South 781 3.46% 417 4.00% 364 3.00%
6. RESULTS
NEGATIVE BINOMIAL MODEL
COUNT MODEL/INTENSIVE MARGIN
THE BASIC MODEL
Family firms -0.738***
(0.057)
Stock of patents 0.066***
(0.003)
Debt ratio -0.008
(0.114)
Medium-low -0.13
(0.091)
Medium-high
Tech
0.234***
(0.078)
High Tech 0.323***
(0.098)
Regional
dummies
Yes
Year dummies Yes
13. FAMILY OWNERSHIP EFFECT ON THE INTENSIVE MARGIN
OF PATENTING MODERATED BY THE INTERACTION OF
AGE AND SIZE
14. DISCUSSION AND SOME CONCLUSIONS
• This study investigates the relationship
between FFs and innovation through the lens
of SEW by adopting a context-based
approach. In this respect, size, and age are
seen as key contingent factors that can
explain the variability in firm behavior
• We take advantage of prior research that
shows size affects the availability of
resources and that age is associated with
experience and the generational stage of a
firm
• Departing from an assessment of the
individual roles of size and age, our
findings indicate that these 2 factors exert
a joint effect on patenting.
• We help to identify the conditions under
which FFs are likely to outperform or
underperform non-FFs
• By employing a proper research design to
reflect FF heterogeneity we provide
conclusions that complement, rather than
contradict, prior studies of family business
15. DISCUSSIONE AND SOME CONCLUSIONS
• Being family-owned can be either detrimental or beneficial to
patenting.
• Although we find a baseline negative effect on innovative
performance for FFs, the results support the view that SEW
constitutes a double-edged sword in FFs, depending on
whether its positive or negative aspects prevail.
• We find that firm size and age help to determine which aspect
(i.e., positive or negative) of SEW dominates for different FFs.
16. SMALL AND YOUNG FF FIRMS PATENT LESS THAN NON-
FFS. THE GAP DECREASES WITH SIZE AND AGE WITHIN
FIRST-GENERATION FIRMS.
• FFs benefits more from an age-related learning process because
these businesses usually begin with a weak set of competencies
and an inexperienced founder. Skills grow over time as founders
acquire market knowledge, improve their ability to adapt, and
reshape strategy choices as the external environment changes
(Cucculelli et al., 2014).
• Additionally, owing to the high level of social capital available to
them, FFs gain more from knowledge flows than non-FFs (Arregle
et al., 2007). Building social capital takes time; therefore, the
relationship between FFs, and patents is expected to vary with
firm age.
17. • 1. As any business grows, its processes become more complex and new skills are needed. FFs avoid recruiting from outside the
family circle; therefore, nepotism limits the range of human capital available to them and innovation activities can suffer due to
their inadequate expertise (Bertrand and Schoar, 2006; Gomez-Mejia et al., 2001; Pérez-González, 2006). FFs have major financial
constraints due to their considerable reluctance to use external resources (Serrasqueiro et al., 2016) in order to retain ownership
control in the family (e.g., Gómez-Mejía et al., 2007). stage can affect post-founder companies (Gersik, 1997). The family’s
emotional attachment to the firm and its desire to preserveInnovation activities are costly and therefore unattractive for FFs with
limited financial resources.
• 2 Problems related to an FF’s generational ownership will likely decline in the post-founder generation. Moreover, any
negative effects that emerge among family members can be more damaging than when a respected powerful founder remains
in charge, and it is possible (even likely) that some family members will continue to identify and be involved with the firm more
than others, which can create conflicts that can compromise the viability of the business (Le Breton-Miller and Miller, 2013).
Moreover, if the firm is very large, passing control to succeeding generations often results in a dispersed ownership structure
(Van Aken et al., 2017). A principal-principal problem can arise due to conflicts between the members of different nuclear
families within an FF. This phenomenon is known as family opportunism: family members make decisions based on their own
nuclear household's welfare rather than the welfare of the extended family (Le Breton-Miller et al., 2011; Lubatkin et al., 2005;
Miller et al., 2013). Furthermore, family conflicts in later generations can restrict the FF’s learning capacity by impeding
knowledge integration (Chirico and Salvato, 2008), thereby affecting innovation performance. Thus, as the size of an FF increases,
innovation activities are expected to decline compared to non-FFs. This is not expected in larger non-FFs (Werner et al., 2018).
THE INNOVATION GAP PERSISTS AND INCREASES FOR LARGE AND POST-
FOUNDER GENERATION ENTERPRISES
EXPLANATIONS ARE TWOFOLD
19. A DIFFERENT STORY FOR GREEN TECHNOLOGY?
PATENTS, WHATEVER THE
TECHNOLOGY
GREEN PATENTS
20. THANK YOU FOR YOUR ATTENTION
Aiello, F., Mannarino, L. & Pupo, V. Family firm heterogeneity and
patenting. Revising the role of size and age. Small Bus Econ (2023).
https://doi.org/10.1007/s11187-023-00805-y