What is it about?
Having more family members on your management team will reduce the amount you invest in innovation but it increases your innovation output. This suggests that family members are risk averse and reluctant to invest in innovation, but at the same time do so more effectively.
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Why is it important?
We are able to show that having family managers is beneficial for innovation.
Perspectives
One of the tricky things in studying the influence of family managers is to tease their effect apart from family directors and family ownership. The data set we had uses German firms, where this is possible.
Christian Stadler
University of Warwick
Read the Original
This page is a summary of: The Impact of Family Ownership, Management, and Governance on Innovation, Journal of Product Innovation Management, July 2014, Wiley,
DOI: 10.1111/jpim.12202.
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