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Innovation Capabilities and Financing Constraints of Family Firms
Jönköping University, Jönköping International Business School, JIBS, Economics. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO). DIW Berlin.
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics. Jönköping University, Jönköping International Business School, JIBS, Center for Family Enterprise and Ownership (CeFEO).
2015 (English)Report (Other academic)
Abstract [en]

Using the 2007 Mannheim innovation survey, we investigate whether family firms are more financially constrained than other firms and how this affects both innovation input as well as innovation outcomes such as market and firm novelties or process innovations. Based on the CDM framework, estimation of the recursive system of equations shows that family businesses are more likely to be constrained and have, on average, lower innovation input. Surprisingly, however, this does not reduce their innovation outcomes as, on average, family firms have the same level of innovation outcomes as nonfamily firms.

Place, publisher, year, edition, pages
Berlin: DIW , 2015. , 37 p.
Series
Discussion Papers of DIW Berlin, ISSN 1619-4535 ; 1536
Keyword [en]
Innovation, Capability, Financing Constraints, Family Firms, CDM
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-28765OAI: oai:DiVA.org:hj-28765DiVA: diva2:889391
Available from: 2015-12-24 Created: 2015-12-24 Last updated: 2016-02-09Bibliographically approved

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Schäfer, DorotheaStephan, Andreas
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