Innovations in Small and Medium-Sized Family Firms: An Analysis of Innovation Related Top Management Team Behaviors and Family Firm-Specific Characteristics

Description

​Small and medium-sized firms are a prevalent organizational form in Germany. Their importance for the German economy is indisputable. Most of them are global market leaders in their niches and are considered to be a force for innovation in the German economy. The ability to be innovative in niche markets has been identified as the antecedent of their strong, or even dominant, competitive positions in their industries. The driver of this innovation success may well be the family, which distinguishes family firms from non-family firms. But how can a family influence innovation in a family firm and does this influence have only positive effects? This dissertation focuses on the impact of top management teams on innovations interacting with family firm-specific characteristics. Front Matter....Pages 1-1 Introduction....Pages 1-6 Research on family firms – Definition, theories, and performance....Pages 7-34 Innovation and firm performance....Pages 35-78 TMTs in family firms....Pages 79-93 TMT innovation orientation and new product portfolio performance in family firms....Pages 94-114 TMT risk-taking propensity and new product portfolio innovativeness in family firms....Pages 115-135 Concluding discussion....Pages 136-145 Back Matter....Pages 9-9