Edited by Hung-bin Ding, Hsi-Mei Chung, Andy Yu and Phillip H. Phan
Chapter 2: When and how high family involvement helps a family business: The role of long-term orientation and innovativeness
Drawing upon the familiness paradigm, we develop a moderated mediation theoretical model on family businesses and propose a series of relationships from family involvement to firm performance. We propose that the presence of long-term orientation (LTO) in a family firm can facilitate a positive relationship between family involvement and firm performance, because it promotes an innovativeness mindset in the family firm. In this regard, LTO can serve as an important moderator, and innovativeness can serve as an important mediator, in the relationship between family involvement and firm performance. Implications of this model for research and practice are also discussed.
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