Economic and Technological Importance of Innovations in Large Family and Founder Firms
研究发现，创始人管理的企业因创业导向而获得更多专利引用，表明其创新更具经济和技术重要性；而家族管理的企业因追求社会情感财富，专利引用较少。
Prior research has analyzed R&D spending in family and founder firms. Yet little is known about the economic and technological importance of innovations in these types of firms. Using patent citation data, we show that founder-managed firms, which we argue favor an entrepreneurial orientation, receive more patent citations when compared with other firms, even controlling for R&D spending. By contrast, family-managed firms, many of which, we argue, pursue socioemotional wealth for the family, receive fewer patent citations compared with other firms, again, controlling for R&D spending. Patent citations have been shown in the literature to reflect the economic and technological importance of innovations.