A silent revolution: The internationalisation of large Spanish family firms

Abstract

This article studies the dominant role played by large family firms in the internationalisation of the Spanish economy. Based on new empirical evidence from circa 150 historical and internationalised family firms, the article integrates concepts and theories from recent literature on internationalisation, international entrepreneurship, sociology, and family business. The main argument is that in Spain, as in other European, South American and Asian countries, the integration of most of the leading family firms in the global market has been the outcome of a long learning process strongly influenced by the country's natural and human resources, institutional framework, and regional patterns of economic development and business cultures. In contrast with other countries, however, foreign capital and technology and collective action at regional, national and international levels play a far more important role in the internationalisation of large family firms.