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Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience

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The Palgrave Handbook of Heterogeneity among Family Firms

Abstract

Building on extant research on family firm resilience, we propose a framework to discuss the impact of family-centered non-economic goals on a firm’s ability to absorb and react to environmental jolts. This chapter aims to advance current knowledge on the goal-related antecedents of innovation strategies in family firms by theorizing on how family firms approach slack resource deployment and choose between investments in closed vs. open innovation as a response to environmental jolts. Building on prospect theory assumptions about risk-taking behavior, we make a contribution to understanding heterogeneity of resilient family firms, which are spurred to innovate in light of the degree of relevance of pursued family-centered non-economic goals.

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Author information

Authors and Affiliations

  1. Witten Institute for Family Business (WIFU), University of Witten/Herdecke, Witten, Germany

    Giovanna Campopiano

  2. Free University of Bozen-Bolzano, Bolzano, Italy

    Alfredo De Massis

  3. LUMS Centre for Family Business, Lancaster University Management School, Lancaster, UK

    Alfredo De Massis & Josip Kotlar

Authors
  1. Giovanna Campopiano
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  2. Alfredo De Massis
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  3. Josip Kotlar
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Corresponding author

Correspondence to Giovanna Campopiano .

Editor information

Editors and Affiliations

  1. Bryan School of Business and Economics, University of North Carolina-Greensboro, Greensboro, NC, USA

    Esra Memili

  2. School of Business Administration, The University of Mississippi, University, MS, USA

    Clay Dibrell

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Campopiano, G., De Massis, A., Kotlar, J. (2019). Environmental Jolts, Family-Centered Non-economic Goals, and Innovation: A Framework of Family Firm Resilience. In: Memili, E., Dibrell, C. (eds) The Palgrave Handbook of Heterogeneity among Family Firms. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-319-77676-7_28

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