RT Journal Article
T1 Does Family Involvement in Management Reduce the Risk of Business Failure? The Moderating Role of Entrepreneurial Orientation
A1 Revilla Torrejón, Antonio Javier
A1 Pérez-Luño, Ana
A1 Nieto Sánchez, María Jesús
AB This study explores the question of whether - and under which circumstances - family involvement helps avoid business failure. We hypothesize that it is family involvement in management, rather than ownership, which reduces the risk of failure during economic downturns; however, this effect is negatively affected by the firm's entrepreneurial orientation (EO). We argue that EO hinders reaching consensuses on and commitment to family-centered goals, which are focused on long-term survival. We analyze 369 manufacturing firms in Spain from 2007 to 2013, and find that family involvement in management reduces the risk of business failure, but this effect decreases as EO increases.
PB SAGE
SN 0894-4865
YR 2016
FD 2016-10-03
LK https://hdl.handle.net/10016/27713
UL https://hdl.handle.net/10016/27713
LA eng
NO The author(s) disclosed receipt of the following financial support for the research, authorship and/or publication of this article: This study has been partially supported by financial aid from the Spanish Ministry of Economy and Competitiveness (Projects ECO2012-36160, ECO2014-58799-R and ECO2015-67296-R) and from the Project S2015/HUM-3417 (cofinanced by the Communtiy of Madrid and European Social Fund).
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RD 1 may. 2024