Resources and Innovation in Family Businesses: The Janus-Face of Socioemotional Preferences
探讨家族企业社会情感偏好的两面性：一些偏好促进资源积累以支持创新，另一些则因任人唯亲、不当利他等行为侵蚀资源，进而影响企业创新策略。
Family business socio-emotional preferences are often Janus-faced. Some strive to create a strong business they can pass on to offspring by building innovation-promoting resources such as human, relational, and financial capital. Other family firms cater to family desires for unqualified nepotism, altruism towards undeserving kin, and appropriation of firm assets to fulfill parochial desires that erode these resources. This article explores how such preferences, together with their impact on resources and the innovation demands of their markets, shape the approach to innovation.