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Family Firms and Research and Development Investment: The Moderator Effect of the Board Composition

[Las empresas familiares y la inversión en investigación y desarrollo: El efecto moderador de la composición del consejo]

dc.rights.licensehttp://creativecommons.org/licenses/by-nc-nd/4.0/
dc.contributor.authordel Carmen Briano-Turrent G.
dc.contributor.authorWatkins-Fassler K.
dc.contributor.authorRodríguez-Ariza L.
dc.contributor.authorReyes-Bastidas C.
dc.date.accessioned2024-12-02T20:16:12Z
dc.date.available2024-12-02T20:16:12Z
dc.date.issued2023
dc.identifier.issn24448788
dc.identifier.urihttps://hdl.handle.net/20.500.14112/29040
dc.description.abstractFrom the perspective of agency and socio-emotional theories, the family firm's innovation behavior differs from non-family companies. We investigate the relationship between the family element and Research and Development (R&D) investment, and how the moderating effect of the board composition affects this relationship. Using a panel data composed by 1,284 observations-year during the period 2004-2014 from Argentina, Brazil, Chile and Mexico, empirical results show that family firms increase R&D investment when the moderating effect of the board composition is included. For instance, larger boards, the independence of the board, the COB-CEO duality and female directors motivates to a higher R&D and capital expenditures. These results confirm that board composition constitutes a monitoring mechanism of family members' actions, which leads to an increase of innovation strategies and suggest that family firms promote a long-term orientation with the purpose of preserving the wealth for next generations. This research contributes to the international literature analyzing a region not explored before and characterized by a weak institutional framework and lower rates on R&D investment compared to other emerging countries. Copyright 2023: © Guillermo Pérez-Elizundia, Seyka Sandoval, Jesús F. Lampón.
dc.format20
dc.format.mediumRecurso electrónico
dc.format.mimetypeapplication/pdf
dc.language.isoeng
dc.publisherUniversidad de Malaga
dc.rights.uriAttribution-NonCommercial-NoDerivatives 4.0 International (CC BY-NC-ND 4.0)
dc.sourceEuropean Journal of Family Business
dc.sourceEur. J. Fam. Bus.
dc.sourceScopus
dc.titleFamily Firms and Research and Development Investment: The Moderator Effect of the Board Composition
dc.title[Las empresas familiares y la inversión en investigación y desarrollo: El efecto moderador de la composición del consejo]
datacite.contributorUniversidad Autónoma de San Luis Potosí, Mexico
datacite.contributorUniversidad Internacional de La Rioja, Spain
datacite.contributorTecnológico Nacional de México, Mexico
datacite.contributorUniversidad de Granada, Spain
datacite.contributorUniversidad Mariana, Colombia
datacite.contributordel Carmen Briano-Turrent G., Universidad Autónoma de San Luis Potosí, Mexico
datacite.contributorWatkins-Fassler K., Universidad Internacional de La Rioja, Spain, Tecnológico Nacional de México, Mexico
datacite.contributorRodríguez-Ariza L., Universidad de Granada, Spain
datacite.contributorReyes-Bastidas C., Universidad Mariana, Colombia
datacite.rightshttp://purl.org/coar/access_right/c_abf2
oaire.resourcetypehttp://purl.org/coar/resource_type/c_6501
oaire.versionhttp://purl.org/coar/version/c_ab4af688f83e57aa
dc.contributor.contactpersonG. del Carmen Briano-Turrent
dc.contributor.contactpersonUniversidad Autónoma de San Luis Potosí, Mexico
dc.contributor.contactpersonemail: guadalupe.briano@uaslp.mx
dc.identifier.doi10.24310/ejfbejfb.v13i1.16065
dc.identifier.instnameUniversidad Mariana
dc.identifier.reponameRepositorio Clara de Asis
dc.identifier.urlhttps://www.scopus.com/inward/record.uri?eid=2-s2.0-85164389240&doi=10.24310%2fejfbejfb.v13i1.16065&partnerID=40&md5=e93a3ac0cd003b3806f1126ce3e612c2
dc.relation.citationendpage91
dc.relation.citationstartpage71
dc.relation.citationvolume13
dc.relation.iscitedby3
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dc.rights.accessrightsinfo:eu-repo/semantics/openAccess
dc.subject.keywordsAgency Theory
dc.subject.keywordsFamily Firms
dc.subject.keywordsLatin America
dc.subject.keywordsResearch and Development
dc.subject.keywordsSocio Emotional Wealth
dc.type.driverinfo:eu-repo/semantics/article
dc.type.hasversioninfo:eu-repo/semantics/acceptedVersion
dc.type.redcolhttp://purl.org/redcol/resource_type/ART
dc.type.spaArtículo científico
dc.relation.citationissue1


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