Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/320022 
Year of Publication: 
2024
Series/Report no.: 
CASMEF Working Paper Series No. WP 2024/01
Publisher: 
LUISS Guido Carli, Department of Economics and Finance, Arcelli Centre for Monetary and Financial Studies, Rome
Abstract: 
This paper investigates the impact of family ownership on firms’ adoption of open innovation strategies. Using data from the VIII UniCredit survey on medium-sized enterprises, we find that family ownership is positively and significantly associated with the adoption of open innovation models by firms. The propensity to engage in open innovation by family firms is particularly pronounced in firms involved in product innovation and in collaborations with suppliers. The paper also delves into the inherent characteristics of family owners, emphasizing that the positive association between family ownership and open innovation is largely driven by their long-term perspective and relational abilities.
Subjects: 
open innovation
family firms
product innovation
process innovation
relational capital
JEL: 
O36
G32
D22
Document Type: 
Working Paper

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