The effect of institutional transition on entrepreneurial orientation of family businesses

Amit Baran Chakrabarti · Arindam Mondal

16 citations0/0 files storedInternational Journal of Entrepreneurial Behaviour & Research

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Family Business Performance and Succession Entrepreneurship Studies and Influences Innovation and Knowledge Management

Abstract

Purpose The purpose of this paper is to ascertain the impact of family ownership on the entrepreneurial orientation (EO) of firms in an emerging market and the contingencies under which it is likely to be affected. Design/methodology/approach The paper adopted a panel data multiple regression using ordinary least square methodology on a sample of 51,972 observations belonging to 12,250 firms from India. Findings The study finds that family businesses have higher EO than non-family firms. However, it is likely to be affected during institutional transition due to environmental uncertainty. Furthermore, during institutional transition, there will be differences in the EO of family business groups and stand-alone family firms due to the former’s ubiquitous network-level resource advantages. Research limitations/implications This paper contributes to the literature on family business by reconciling the positive and negative views on the effect of family ownership on EO by arguing that the risk-taking behavior of family firms is contingent on the environmental conditions and the resource position of the firm. Practical implications This study will enable managers and other stakeholders to predict the entrepreneurial attitude of family-owned firms during environmentally stable as well as turbulent times. Social implications This study highlights the implication of institutional transition through reforms on a vital part of the economy. Policy makers have to be sensitive to repercussions on family business due to environmental turbulence. Originality/value This is one of the first papers that investigate the influence of institutional transition and the resource position of Indian family firms on their EO.

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References

2001Econometric Analysis of Cross Section and Panel Data 1991Institutions, Institutional Change and Economic Performance 1998Social Capital, Intellectual Capital, and the Organizational Advantage 2000The Promise of Enterpreneurship as a Field of Research 1999Corporate Ownership Around the World 2002Social Capital: Prospects for a New Concept 1989Strategic management of small firms in hostile and benign environments 1983The Correlates of Entrepreneurship in Three Types of Firms

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2023How Family and a Migrant Background Influence Family Entrepreneurship: Findings from a Systematic Literature Review 2023Effect of environmental dynamism on entrepreneurial orientation in family firms: the moderating role of informal institutions

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