Garcés Galdeano, Lucía
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Garcés Galdeano
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Lucía
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Gestión de Empresas
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INARBE. Institute for Advanced Research in Business and Economics
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Publication Open Access How important is family involvement for small companies’ growth?(Emerald, 2020) Garcés Galdeano, Lucía; García Olaverri, Carmen; Enpresen Kudeaketa; Estatistika, Informatika eta Matematika; Institute for Advanced Research in Business and Economics - INARBE; Gestión de Empresas; Estadística, Informática y MatemáticasPurpose: Our paper seeks to further understand how family involvement in management influences firm growth. Design/methodology/approach: Using a sample of small high-tech firms, we classify three different types of firms: family firms managed by family-CEOs, family firms managed by non-family CEOs and non-family firms. Findings: Consistent with our expectations, we show that firms managed by family-CEOs have less firm growth in comparison with the other two groups. When the family firm is managed by non-family CEOs, the presence of another family member in management positions has a negative impact on firm growth. Finally, we found that founder-led family firms have better firm growth than descendant-led family firms. Research limitations/implications: Implications for the theory of family firms are discussed. Originality/value: The value of the present study is to analyse in depth the heterogeneity of the family business trying to close the gap by exploring the effect of family involvement on small firm growth. Thus, we will find different behaviours of these family companies, depending on the family member’s presence in management positions.Publication Open Access Absorptive capacity in family firms: exploring the role of the CEO(Emerald, 2024) Garcés Galdeano, Lucía; Kotlar, Josip; Caicedo Leitón, Ana Lucía; Larraza Kintana, Martín; Frattini, Federico; Gestión de Empresas; Enpresen Kudeaketa; Institute for Advanced Research in Business and Economics - INARBEPurpose: Absorptive capacity (AC), the ability to leverage external knowledge for innovation, helps explain the mixed findings on family firms' innovation performance. Our research focuses on the CEO's role - whether family or non-family, and founding or later generation - in influencing AC. We also explore how firm size and environmental dynamism affect these relationships, offering insights into varying AC levels among family firms. Design/methodology/approach: OLS regression models were estimated to test the hypotheses using a sample of 364 family firms in Spain. Findings: Family firms¿ absorptive capacity is greater when the CEO is a family member, and even more so when the family CEO belongs to the founding family generation. While AC diminishes in larger family firms this effect is mitigated when the CEO is a family member. The predicted moderating effect of environmental dynamisms is not supported by the analyses. Originality: This paper adds insights about the drivers of heterogeneity in innovation among family firms, addressing recent calls for more nuanced views of how family members drive the strategic behavior of the business, and incorporating considerations of different types of family firms based on the identity of the firm CEO. The results overall support the theoretical claims, but also open up important questions for future studies.