Scandinavian Working Papers in Economics
HomeAboutSeriesSubject/JEL codesAdvanced Search
CESIS - Centre of Excellence for Science and Innovation Studies, Royal Institute of Technology KTH/CESIS Working Paper Series in Economics and Institutions of Innovation

No 425:
Innovation Capabilities and Financing Constraints of Family Firms

Dorothea Schäfer (), Andreas Stephan () and Jenniffer Solórzano Mosquera ()

Abstract: 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.

Keywords: Innovation; Capability; Financing Constraints; Family Firms; CDM; (follow links to similar papers)

JEL-Codes: D30; G32; O32; (follow links to similar papers)

37 pages, December 18, 2015

Before downloading any of the electronic versions below you should read our statement on copyright.
Download GhostScript for viewing Postscript files and the Acrobat Reader for viewing and printing pdf files.

Full text versions of the paper:

cesiswp425.pdf    PDF-file
Download Statistics
This paper is published as:
Schäfer, Dorothea, Andreas Stephan and Jenniffer Solórzano Mosquera, (2016), 'Family Ownership: Does it Matter for Funding and Success of Corporate Innovations?', Small Business Economics

Questions (including download problems) about the papers in this series should be directed to Vardan Hovsepyan ()
Report other problems with accessing this service to Sune Karlsson () or Helena Lundin ().

Programing by
Design by Joachim Ekebom

Handle: RePEc:hhs:cesisp:0425 This page was generated on 2016-11-02 14:05:16