Research on Technological Innovation in Family Firms

Abstract

The purpose of this article is to review and systematize prior work on technological innovation in family firms and to open up an agenda to guide future research into this promising area. The study shows that family involvement has direct effects on innovation inputs (e.g., R&D expenditures), activities (e.g., leadership in new product development projects), and outputs (e.g., number of new products), as well as moderating effects on the relationships between these steps of technological innovation. The article uses theories applied in family business research (e.g., agency theory) to discuss opportunities for extending technological innovation frameworks by considering family involvement.