Resource orchestration, socioemotional wealth, and radical innovation in family firms: Do multifamily ownership and generational involvement matter?
基于资源编排和社会情感财富理论，研究了多家族所有权如何削弱社会情感财富对激进创新的正面影响，以及低代际参与如何缓解这种削弱效应。
We draw from resource orchestration and socioemotional wealth (SEW) arguments to examine radical innovation in multifamily firms. We theorize that the weak coordination mechanism associated with multifamily ownership has a negative effect on the positive SEW-radical innovation relationship. Additionally, we argue that low generational involvement – the number of family generations involved simultaneously in the family firm's top management team – mitigates the negative moderating effect of multifamily ownership. Low generational involvement is a mobilizing mechanism that ensures that the family firm uses its SEW to produce radical innovation. We use a sample of Spanish firms to test our expectations. Our results show that firms realize the positive effect of SEW on radical innovation in concert with the leadership governance mechanism of multifamily ownership and low generational involvement. These results are important in that evidence suggests that radical innovation plays a strong role in family firms' long-term survival, success, and renewal. We conclude our paper with a discussion of the study's theoretical contributions and opportunities for future research.