A chi es o Business Resea ch – Vol. 9, No. 5
Publica ion Da e: May 25, 2021
DOI:10.14738/ab .95.10221.
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es
o Business Resea ch, 9(5). 102-120.
Se ices o Science and Educa ion – Uni ed Kingdom
The Role o Inno a ion in Small and Medium-Sized Family Fi ms:
A Li e a u e Re iew
Ond ej Zizla sky
Facul y o Business and Managemen , B no Uni e si y o Technology
B no, Czech Republic
Nikola Janicko a
Facul y o Business and Managemen , B no Uni e si y o Technology
B no, Czech Republic
ABSTRACT
This a icle builds on exis ing amily business esea ch conduc ed wo ldwide and
embeds he esea ch esul s in he Czech con ex o po ay he Czech Republic as a
c i ically impo an con ex o ex ending ou knowledge on impo an amily
i ms’ opics. In his a icle, we p esen a sys ema ic e iew and in eg a ion o 69
a icles published in pee - e iewed jou nals by Else ie , Eme ald, Wiley and o he s
om 2015 o 2021 in o de o answe wo esea ch ques ions: wha is he ole o
inno a ion in SME amily i ms and wha d i es he inno a ion in amily i ms?
Speci ically, he con en o he a icle discusses he new de ini ion o amily i m in
he Czech Republic; he ela ionship be ween inno a ion and amily i m g ow h;
and some con ex ual ac o s ha migh a ec he inno a ions in he Czech SME
amily i ms: abili y and willingness pa adox, socioemo ional weal h, and
amiliness. The insigh s o his e iew a e used o de elop sugges ions o u u e
esea ch in se ing he alue o amily i m whe e inno a ion can play an essen ial
ole as one o he co e alue d i e s.
Keywo ds: Inno a ion, amily i m, small and medium-sized en e p ises (SMEs), alue
d i e , business inno a ion.
INTRODUCTION
I appea s ha he concep o amily i ms is o opical in e es no only in he Czech Republic
bu wo ldwide. Acco ding o global esea ch by he Family Fi m Ins i u e, amily i ms gene a e
70-90% o he wo ld's GDP, p o ide employmen o 60-80%, a e mo e esilien o c ises, a e
based on high esponsibili y o hei su oundings, wi h in es men s in hese i ms emain in
he egions and o m he basis o hei se ice (Family Fi m Ins i u e, 2018). Simila
pe spec i es emana e wi hin he Eu opean Union whe e amily i ms o m he basis o di e en
coun ies’ economy and a e he co ne s one o esponsible business owne ship and long- e m
business in es men . In ecen yea s, he in e es o he Eu opean ins i u ions in his ype o
business has g own (Bo e o e al., 2015; Eu opean Family Business Ba ome e , 2018). Mos
Eu opean amily i ms a e Small and Medium-sized En e p ises (SMEs), bu mul ina ional
co po a ions a e no he excep ion. Nine ou o en businesses belong o he SME ca ego y and
make up nea ly 70 % o jobs (EP, 2015). Con ibu ions made om business i ms a e
conside ed impo an o g ow h in a eas such as compe i i eness and employmen .
103
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es o Business
Resea ch, 9(5). 102-120.
URL: h p://dx.doi.o g/10.14738/ab .95.10221
SMEs in he Czech Republic, o example, o m a subs an ial pa o he coun y’s domes ic
economy. Acco ding o he Minis y o Indus y and T ade, he sha e o SMEs in he o al
numbe o ac i e business en i ies in he Czech Republic in 2017 was 99.8%. The numbe o
inno a i e SMEs is also inc easing in e ms o expendi u e and he use o subsidies (Minis y o
Indus y and T ade, 2018). A close in es iga ion e eals ha app oxima ely 87% o hese
p i a e companies in he Czech Republic a e amily i ms. This sugges s ha amily i ms play
a much mo e impo an ole in he coun y’s economy han p e iously hough (Eu opean
Family Business, 2018). Family i ms a e ying o balance he needs o amily and business
needs, p io i izing socio-economic weal h o e a na ow ocus on inancial goals. These i ms
hus play a i al ole in p omo ing wo k-li e balance, a e ypical o highe employee ca e, low
s a u no e , suppo o employee educa ion and o e all social esponsibili y in ela ion o
he en i onmen and egion in which i ope a es.
Ini ia i es s a ed ecen ly in he Czech Republic o in es iga e in mo e dep h he concep o he
amily i m and o add ess any associa ed p oblems. A p ojec known as ‘Family Fi ms: Value
D i e s and Value De e mina ion in he P ocess o Succession’ (No TL02000434) was launched
in 2019 wi h he suppo om he Technology Agency o he Czech Republic. The p ojec
p esen s a sys emic app oach o de e mine he alue o a speci ic ype o business, based on he
iden i ica ion o c i ical alue gene a o s, conside ing he speci ici ies o amily i ms. I s main
objec i e is o c ea e a ‘ i ual me hodology’ o de e mine he alue o amily SMEs. The
de ini ion o gene a o s o he alue o amily i ms – accele a ion and inno a ion p ocedu es
as ools o managing hei alue – will be a s a ing poin o he design and de elopmen o
his me hodology. Applying he concep and he ools and echniques associa ed wi h an
inno a ion app oach can acili a e his p ocess.
This esea ch in es iga es he impo ance inno a ion plays in amily i ms, o example, by
s eng hening he posi ion o he company. This enables pe manen imp o emen s o cus ome
sa is ac ion. I places pa icula emphasis on secu ing s akeholde equi emen s o success ul
de elopmen and alue g ow h. To help ul il he esea ch main aim and o p o ide new insigh s
on he ole o inno a ion, his s udy add esses he ollowing main esea ch ques ion: ‘Wha is
he ole o inno a ion in SME amily i ms?’
The scien i ic aim o he pape is o gain knowledge and analyse he p esen s a us o how
inno a i e ac i i ies can ac as he ca alys o d i e o wa d he alue amily i ms p o ide (by
e iewing bo h Czech and o eign li e a u e. The objec i e o he a icle is o collec i e e idence
ha sugges s ha he e is a co ela ion be ween how success ul amily i ms a e and he le el
o inno a ion hey engage in. In addi ion, he pape is also impo an in e ms o
mul idisciplina y app oach o abo e-men ioned esea ch p ojec . The me hods o co po a e
go e nance, social sciences, s a egic and inno a ion managemen , inance and s a is ics will
be linked oge he in o de o iden i y co e alue d i e s o SME amily i ms.
Sec ion 2 p o ides a desc ip ion o he esea ch me hodology. This is ollowed by an o e iew
o esea ch on amily i m and inno a ion, wi h pa icula emphasis on he de ini ion o he
amily i m in he Czech Republic. Then we compa e and con as he impac o inno a ion in
amily and non- amily i ms (see Table 2). The e is enough heo e ical e idence o s a e ha
inno a ion could be di e en in amily and non- amily i ms, o example amily i ms’ unique
and dis inc i e beha iou , he excep ional bundle o esou ces and capabili ies esul ing om
104
Vol. 9, Issue 5, May-2021
A chi es o Business Resea ch (ABR)
Se ices o Science and Educa ion – Uni ed Kingdom
in e ac ions be ween he amily (o indi idual membe s), and he business en i y. Sec ion 3
e iews he li e a u e and p esen s a b ie backg ound and main cha ac e is ics o amily i m
beha iou . I is ocused on desc ip ion o he main idiosync asies o amily i ms such as ‘ amily
inno a ion dilemma’, ‘Socioemo ional Weal h’ o ‘Willingness-abili y pa adox’. Finally, he las
sec ion summa izes he indings and gi es a p oposal o u u e esea ch.
RESEARCH METHODOLOGY AND DATA
This sec ion desc ibes he esea ch p ocess o an e idence-based sys ema ic li e a u e e iew
based on T an ield e al. (2003) and Keupp e al. (2012):
1 Planning he e iew
2 Conduc ing he e iew (da a collec ion and analysis)
3 Repo ing and dissemina ing he e iew (da a syn hesis)
In his sys ema ic e iew, he p o essional li e a u e, and pa icula ly o eign esou ces,
p o ided a sou ce o seconda y da a. Ha ing ou lined he a ionale and p oposed me hods o
his e iew, he s age is se o iden i y ele an s udies explici and ep oducible selec ion
c i e ia.
Planning he Re iew
This s age in ol es he de ini ion o keywo ds o he esea ch s ing o ga he ele an
li e a u e dealing wi h subjec unde in es iga ion. In he i s ins ance, he sea ch engine
Google Schola was used as i co e s a b oade ange o academic sou ces. The li e a u e
esea ch was conduc ed by using he ollowing se o keywo ds: “ amily i m”, “ amily business”,
“ amily owne ship”, and “small and medium-sized en e p ises”. We combined hese key e ms
wi h ollowing e ms ela ed o inno a ion and alue managemen a iables: “inno a ion”,
“inno a ion business”, “change” “pe o mance”, “e iciency” and “ alue d i e ”. The li e a u e
e iew is es ic ed o he pe iod om he beginning o 2015 h ough he p esence o 2021.
Using hese key e ms in English Google Schola deli e ed ca 63,400 esul s. This amoun o
esul s indica es ha he subjec ma e unde in es iga ion is g ea o in e es o he schola s.
Fo he nex sea ch he ollowing inclusion c i e ia we e applied:
• A ailabili y in Thomson Reu e s Web o Science and/o Else ie Scopus da abases
• A icles in English
• Pee - e iewed a icles
• A icle con aining one o he keywo ds in he i le, abs ac o keywo ds
S udies ou o his scope we e excluded om his e iew. Especially books, book chap e s, and
con e ence pape s we e excluded in he nex phase o da a collec ion p ocess due o owing o
a iabili y in pee - e iew p ocesses and es ic ions in a ailabili y.
Da a Collec ion
In second ins ance, he li e a u e e iew was limi ed o a icles om pee - e iewed jou nals
ha publish mos o ele an and up- o-da e esea ch. The sea ch was pe o med in he majo
espec ed scien i ic elec onic da abases such as Else ie Scopus and Thomson Reu e s Web o
Science by using abo e-men ioned key e ms. These da abases we e selec ed due o hei
ad anced web sea ch mechanisms, high olume o indexed publica ions and p o en ele ance.
To be po en ially included in he e iew, he i le o he a icle had o con ain a keywo d o
105
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es o Business
Resea ch, 9(5). 102-120.
URL: h p://dx.doi.o g/10.14738/ab .95.10221
combina ion om he same se s o keywo ds. He e again he same pe iod o 2015 ill 2021 was
conside ed. In o de o be mo e igo ous in ou e iew, an addi ional sea ch was conduc ed o
h ee leading jou nals ha almos exclusi ely add ess amily business opics, using he same
c i e ia as p e iously s a ed: Family Business Re iew, Jou nal o Family Business S a egy and
Jou nal o Family Business Managemen . The ele ance o he iden i ied a icles was ensu ed by
eading all abs ac and compa ed wi h ela ed goals o he esea ch p ojec . Using con en
analysis, wo esea che s ead abs ac s o all iden i ied pape s, and independen ly classi ied
hem in he main esea ch ca ego ies (inno a ion/change, amily i m,
pe o mance/e iciency). We buil a sp eadshee wi h he sco ing sys em: 0.0 (no i ), 0.5
(pa ially), and 1.0 ( i ). No e ha his quali y anking was an in e nal me ic o selec ing
pape s o his s udy, no e lec ing any compa ison amongs s udies o au ho s. Nex , he
indi idual e alua ions we e compa ed and syn hesized, and in case o disag eemen , he issue
was discussed and esol ed. In o al 31 a icles (30 by o eign and 1 Czech au ho ) we e chosen
which seemed o be mos ele an o he esea ched issue and u u e use in he upcoming
esea ch. Each au ho g asps he subjec ma e in a di e en way, so he e is a g ea a ie y o
iews.
Da a Analysis
A e collec ing an ini ial se o s udies, all a icles in he sample we e analysed, da a was
ex ac ed and documen ed independen ly by he au ho s and hen he indings we e compa ed
and econciled. When e iewing he indings, au ho s applied s ic c i e ia o assess he quali y
o published pape s. The c i e ia include: coun y o esea ch, size and quali y o esea ch
sample in e ms o ep esen a ion, he s eng h o he conclusions, and he link o objec i es o
ou esea ch p ojec in he Czech Republic. Fo his pu pose, a da a ex ac ion o m was
p epa ed o collec in o ma ion on au ho s and quali y c i e ia. Nex , he indi idual
assessmen s we e compa ed and analysed, and in case o disag eemen , he issue was discussed
and esol ed. Some pape s we e emo ed om he esea ch sample. In addi ion, we did
backwa d- acking o all ele an e e ences epo ed in a icles. This led o he iden i ica ion
o addi ional pape s and amoun ed o a o al o 69 a icles.
Da a Syn hesis
This pa o he esea ch is he p ima y alue-added p oduc o a e iew p ocess, since i
p oduces new knowledge based on ho ough da a collec ion and ca e ul analysis. In ou s udy
a syn hesis is used o design o u u e esea ch in a ea o inno a ion as a alue d i e in amily
SMEs businesses. We used mind mapping me hod o map ou he main hemes, pe spec i es
and dimensions o inno a ion in amily i ms.
EMPIRICAL FINDINGS AND DISCUSSION
This sec ion p o ides an o e iew and discussion abou main poin s o each esea ch s udy
unde in es iga ion om di e en coun ies. The main ou pu s o each s udy a e p esen ed in
Appendix 1.
Ou analysis o 69 jou nal publica ions on inno a ion in amily i ms shows ha his opic has
ecen ly a ac ed he a en ion o espec ed scien i ic jou nals ha ocus on managemen and
business, such as he Jou nal o Family Business S a egy (13 a icles), he Family Business
Re iew (8 a icles), he En ep eneu ship Theo y and P ac ice (6 a icles), he Jou nal o Small
Business Managemen (4 a icles), he Academy o Managemen Jou nal, he Cali o nia
106
Vol. 9, Issue 5, May-2021
A chi es o Business Resea ch (ABR)
Se ices o Science and Educa ion – Uni ed Kingdom
Managemen Re iew, he Jou nal o P oduc Inno a ion Managemen , and he S a egic
Managemen Jou nal (3 a icles), he Eu opean Jou nal o Inno a ion Managemen , and he
Eu opean Jou nal o Inno a ion Managemen (2 a icles). 22 a icles we e published in a ious
jou nal (see Table 1).
Table 1 Sou ce jou nals o pape s
Jou nal name
Numbe o
pape s
%
%
Accumula ed
Academy o Managemen Jou nal
3
4.35%
4.35%
Cali o nia Managemen Re iew
3
4.35%
8.70%
En ep eneu ship Theo y and P ac ice
6
8.70%
17.39%
Eu opean Jou nal o Inno a ion Managemen
2
2.90%
20.29%
Family Business Re iew
8
11.59%
31.88%
In e na ional Jou nal o En ep eneu ship and
Inno a ion Managemen
2
2.90%
34.78%
Jou nal o Family Business S a egy
13
18.84%
53.62%
Jou nal o P oduc Inno a ion Managemen
3
4.35%
57.97%
Jou nal o Small Business Managemen
4
5.80%
63.77%
S a egic Managemen Jou nal
3
4.35%
68.12%
Jou nal wi h only 1 pape
22
100.00%
In addi ion, he indings om he sys emic li e a u e e iew and s udy he e olu ion o esea ch
in a ea o inno a ion in amily i ms om 2015 onwa ds, a e p esen ed o iden i y he la es
ends. They a e classi ied unde hei main opics. The p ima y de ini ions o wha is mean by
‘ amily i m’ (Czech and in e na ional pe spec i es) a e p esen ed nex .
Family Fi m De ini ion in he Czech Republic
An o e iew o amily i m in e na ional de ini ions om 1960 o 2017 was published by Diaz-
Mo iana e al. (2019). Among hese de ini ions, ypical ea u es o amily i m a e iden i ied as
ollows:
1 Majo i y pa icipa ion in owne ship by membe s o he same amily o a small numbe
o amilies (e.g. Leach, 2007)
2 Family in ol emen in he boa d o di ec o s o op managemen (e.g. De Massis e al.,
2012)
3 Exis ence o a amily membe successo (Gagné e al., 2011)
4 P esence o wo o mo e amily- ela ed sha eholde s (Belenzon e al., 2016)
5 Pe cen age o decision-making igh s (Lei e s o & Rau, 2014)
Compa ed o non amily en e p ises, amily fi ms ha e unique cha ac e is ics (see Sec ions 3.3
o 3.5) and explaining diffe ences in amily fi m beha iou and ou comes is a co e objec i e o
amily fi m esea ch (Ch isman e al., 2005). The s uc u al coupling o he amily and fi m
yields a se o inimi able esou ces ha po en ially posi ion he amily fi m o g ow h and
su i al (F ank e al., 2010).
In he Czech Republic, as in o he pos -communis CEE coun ies, he amily i m has been
in e up ed and a en ion has been u ned owa ds i in he las ew yea s in connec ion wi h
he ongoing i s gene a ional in a- amily succession. Mos o hese companies we e o med

107
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es o Business
Resea ch, 9(5). 102-120.
URL: h p://dx.doi.o g/10.14738/ab .95.10221
a e he e olu ion in he 1990s. In he 1980s, hei ounde s lea ned om hei own mis akes
how o conduc business p o essionally. Companies g ew o ganically as he owne s, mos ly
spouses, g ew p o essionally wi h hem. Despi e he appa en lack o business educa ion, hese
en ep eneu s and hei companies ha e now g own in o s ong local playe s o ha e in many
cases buil a s ong in e na ional epu a ion.
Focusing on mo e ecen de elopmen s in he Czech Republic, amily i ms ha e seen he
highes sales g ow h since 2007. Mo e han 80% o i ms expec o g ow hei e enues in he
u u e bu hey mus p epa e o he undamen al challenges o he yea s o come. Fo example,
hey will ha e o ace p essu e o equen inno a ion o echnological change. Fi s -
gene a ion amily i ms a e g owing he as es , wi h clea ly se co po a e alues, ision and an
elabo a e s a egy (PwC, 2018).
I espec i e he impo ance amily i m o Czech economy (see In oduc ion), he e was no
clea de ini ion o his kind o business un il 2019. The de ini ion o amily i m was app o ed
by he Go e nmen o he Czech Republic, hus making he Czech Republic one o he s a es
whe e amily companies a e clea ly de ined. Acco ding o his de ini ion, a business co po a ion
o ade is conside ed a amily i m (Minis y o Indus y and T ade, 2019).
1 A amily i m is a business co po a ion in which an absolu e numbe o associa es a e
composed o membe s o a single amily and a leas one membe o ha amily is i s
s a u o y body o in which membe s o one amily di ec ly o indi ec ly pe o m a
majo i y o ing igh s and a leas one membe o ha amily is a membe o he
s a u o y body o ha comme cial co po a ion.
2 A amily i m is a business in which a leas wo membe s o one amily pa icipa e in
hei wo k o p ope y and a leas one o he membe s o ha amily holds a ade o
o he simila au ho isa ion o is en i led o business o ano he eason.
3 Fo he pu poses o a amily unde aking, join ly wo king spouses o pa ne s o a leas
one o he spouses o pa ne s and hei ela i es shall be conside ed as membe s o he
Family Fi m un il he hi d deg ee o he pe son wi h he spouses o pa ne s wi h he
spouses o pa ne s o he second deg ee, ela i es in a s aigh line o siblings. I he e
is a pe son among hem who is no ully a bi a y, hey a e ep esen ed by a legal
ep esen a i e when o ing, i he is a mino , o he wise a gua dian.
Inno a ion in Family e sus Non- amily Fi ms
Inno a ion is widely acknowledged as an impo an de e minan o sus ained pe o mance
(Kelle manns, e al., 2012b) and a key d i e o economic g ow h o o ganiza ions and
economies globally (Fe ani a e al., 2017; Miglio i e al. 2020) and in he Czech Republic (e.g.
Bocko a & Zizla sky, 2016; B ecko a, 2017).
In ecen yea s, inno a ion in amily i ms as a esea ch ield has become a opic o g owing
in e es (e.g. Alayo e al., 2021; Du an e al., 2016; Filse e al., 2016; Sau abh e al., 2017).
Inno a ion is ecognised as one o he main s a egic ins umen s o ensu ing economic
p ospe i y and he su i al o he i m. The need o inno a ion seems o be e en g ea e in
amily businesses, wi h he ision o con inui y and ansgene a ional succession being one o
hei main cha ac e is ics. Despi e inc easing schola ly in e es in he opic o inno a ion in
amily i ms, ou unde s anding is s ill incomple e and inconsis en . While some s udies
108
Vol. 9, Issue 5, May-2021
A chi es o Business Resea ch (ABR)
Se ices o Science and Educa ion – Uni ed Kingdom
p o ide empi ical e idence o nega i e associa ions be ween i ms and inno a ion, o he s ind
ou posi i e e ec s (Table 2). The con lic ing esul s migh pa ly be due o he o e simpli ied
measu emen o amily in luence by me ely conside ing po en ial amily in luence h ough
owne ship and con ol.
Table 2 Inno a ion in amily i ms
Posi i e co ela ion
Nega i e co ela ion
Inno a ion in amily i ms
Albe i & Pizu no (2013)
Du an e al. (2015)
Ga ud e al. (2013)
Hauck & P ügl (2015)
Hsu & Chang (2011)
König e al. (2013)
Llach & No dq is (2010)
Röd (2016)
Muñoz-Bullón & Sanchez-Bueno (2011)
Uhlande e al. (2013)
Block (2012)
Chen & Hsu (2009)
Chin e al. (2009)
Cza ni zki & K a (2009)
Ko la e al. (2013)
Muna i e al. (2010)
Some au ho s hold s ong iews ha he de e minan s and e ec s o inno a ion, di e in amily
and non- amily i ms (e.g. De Massis e al., 2015; Du an e al., 2016; Röd, 2016). Family i ms
a e o en desc ibed as esis an o change, conse a i e (Mo ck e al., 2000), a e se o isk
(Naldi e al., 2007) and adi ional (Ch isman & Pa el, 2012) a he han inno a i e and
c ea i e. These s udies sugges ha amily i ms appea o ha e a hesi an a i ude owa d
opening hei bounda ies, e.g., owa d ex e nal sou ces o collabo a ions (Classen e al., 2012),
o unwillingness o accep ou side pa ne s, di ec o s, o senio manage s (Alayo e al., 2021).
In con as , some s udies, such as Be g eld and Webe (2011), s ess he g ea impo ance ha
amily i ms a ach o inno a ion in o de o ensu e long- e m su i al. I should come as no
su p ise, hen, ha o he s udies a gue ha amily owne ship and in ol emen a e ela ed o
inno a ion (Zah a 2005). Recen findings sugges he amily adi ion can be a sou ce o
inno a ion (De Massis e al., 2016). Family i ms in oduce mo e inc emen al inno a ions
a he han adical inno a ions (e.g., De Massis e al., 2015; Nie o e al., 2015). The e is some
deba e as o whe he amily i ms a e pa icula ly good a inno a ing based on hei unique
his o ies and esou ces (e.g., De Massis e al., 2016) and whe he hei long- e m ou look
s imula es hem o engage in mo e adical inno a ions ha ensu e hei long- e m
sus ainabili y (e.g., Be g eld & Webe , 2011). The he e ogenei y o amily o ms may be one o
he easons why s udies p esen con adic o y o inconclusi e esul s conce ning he in luence
o he amily on inno a ion (e.g., Calab o e al., 2019; Ch isman e al., 2015). Thus, he ques ion
becomes no simply whe he amily i ms inno a e mo e o less han do non amily i ms, bu
how hey app oach he inno a ion p ocess (Nie o e al., 2015). Cu en ly, we ha e only a limi ed
unde s anding o how he p ocess o inno a ion wo ks in amily i ms, and how amily
go e nance a ibu es in luence his p ocess. Few s udies ake a longi udinal pe spec i e and
unco e he inno a ion ajec o y in amily i ms (e.g., Fle che e al., 2016).
Abili y and Willingness Pa adox
A highly discussed opic in amily i m esea ch is he ‘abili y and willingness pa adox,’ which
s a es ha amily fi ms end o ha e a highe abili y, ye lowe willingness, o engage in
inno a ion compa ed o non- amily fi ms (Ch isman e al., 2015; De Massis e al., 2014). Abili y
109
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es o Business
Resea ch, 9(5). 102-120.
URL: h p://dx.doi.o g/10.14738/ab .95.10221
is defined as “ he disc e ion o he amily o di ec , alloca e, add o o dispose o a fi m’s
esou ces” (De Massis e al., 2014). Willingness is he “ a ou able disposi ion o he in ol ed
amily o engage in dis inc i e beha iou ” (De Massis e al., 2014), and d i es he owne o lead
he fi m in a dis inc i e di ec ion ha eflec s he amily’s goals (Rondi e al., 2019).
Family i m’s highe abili y o inno a e is shaped by he combina ion o hei long- e m
o ien a ion, long- e m leade enu es, aci knowledge, s ong amily bonds, and social
ne wo ks buil up o e gene a ions (e.g., De Massis e al., 2016). Bennedsen and Foss (2015)
e e o hese amily-based ad an ages as amily asse s ha can be ans o med in o liabili ies,
o example, when he amily’s close ne wo ks hinde fi ms om being explo a i e. On he
o he hand, he amily fi m’s willingness o inno a e is de e mined by he amily owne s’ goals,
in en ions, and mo i a ions, such as isk-a e sion o a eluc ance o sha e con ol wi h non-
amily membe s and is hea ily influenced by socioemo ional ac o s (Ch isman e al., 2015).
The easons o hei lowe willingness o inno a e include isk-a e sion, eluc ance o sha e
con ol wi h non- amily membe s, lack o equisi e skills (Ch isman e al., 2015), and socio-
emo ional conce ns (Röd, 2016). Consequen ly, esol ing his pa adox is c i ical o unlock hei
inno a ion po en ial (Rondi e al., 2019).
Socioemo ional Weal h
Ano he main cha ac e is ic o amily i m is socioemo ional weal h (SEW). The co e o
socioemo ional weal h is ha decision-making in amily i ms is no only d i en by economic
aspec s bu also in pa icula by non-economic aspec s ha mee he amily’s a ec i e needs,
such as he e en ion o a s ong amily epu a ion de i ed by he i m o he amily membe s’
ela ionship o he i m (Ch isman e al., 2015). The SEW is he mos commonly used amewo k
o analyse he goals o amily fi ms (Vasquez & Rocha, 2019).
The gene al SEW model, c ea ed as a gene al ex ension o he beha iou al agency heo y is
based on he no ion ha fi ms make choices depending on he e e ence poin o he fi m’s
dominan p incipals, whose usual emphasis is o p ese e hei affec i e endowmen (Vasquez
& Rocha, 2019). In ac , he socioemo ional weal h pe spec i e defies wha p e iously was
unde s ood o be economically logical decisions, as choices will also be d i en by he desi e o
p ese e and inc ease affec i e endowmen s and no only financial weal h. Decisions inc easing
o ganisa ional efficiency ha we in e p e as a ional beha iou may no necessa ily ansla e
in o highe financial pe o mance since he meaning o efficiency is de e mined by he goals
pu sued (Lee, 2006). Thus, SEW becomes a e e ence poin ha does no ocus on financial logic
(Zellwege e al., 2012) bu unc ions wi h an economical logic o choice o he g ea benefi o
sa is ac ion, gi en expec ed ou comes and isk scena ios.
I is impo an o unde line he concep o SEW has bo h posi i e and nega i e impac . While
some s udies p esen aspec s o SEW ha a e posi i e o he amily and p o-social inclina ion
(e.g., Cennamo e al., 2012), o he s show ha SEW can also ha e a nega i e alence, hus
esul ing in undesi able and e en ha m ul consequences o some amily and non amily
membe s (e.g., Kelle manns, e al., 2012a).
Familiness
Viewing amily i ms as social sys ems ha combine wo coupled sys ems ( he amily and he
business) c ea es a unique bundle o esou ces, known as ‘ amiliness’. Since i s in oduc ion by
110
Vol. 9, Issue 5, May-2021
A chi es o Business Resea ch (ABR)
Se ices o Science and Educa ion – Uni ed Kingdom
Habbe shon and Williams (1999), he cha ac e is ics o amiliness ha e been examined om a
numbe o heo e ical pe spec i es (e.g., F ank e al., 2010; Pea son e al., 2008), which ha e,
along he way, p o ided aluable insigh s in o he componen s o amiliness ha influence
compe i i e ad an age. The esou ce-based pe spec i e, o example, is he o iginal heo e ical
ounda ion used o highligh he bundle o esou ces p esen when amily is in ol ed in he
business. This poin o iew, howe e , is limi ed when analysing specific social and beha iou al
elemen s (Hoopes e al., 2003). Focusing on he impo ance o hese specific aspec s, Pea son
e al. (2008) ake a social capi al pe spec i e o amiliness ha mo e clea ly a icula es he
idiosync a ic socio-beha iou al esou ces o he amily fi m. By no ing he s uc u al, ela ional,
and cogni i e dimensions o amiliness and i s effec s on amily exchange and associabili y, hei
app oach offe s an unde s anding o he specific ac o s ha cons i u e amiliness. The
p esence o social capi al in he amily fi m has he po en ial o offe a unique compe i i e
ad an age o e non amily fi ms due o he ich, embedded amilial ela ionships absen in
non amily fi ms.
While o he concep s like he cons uc o SEW and amiliness om a esou ce-based iew a e
impo an in enhancing ou unde s anding o amily fi ms’ inno a ion, hey each concen a e
on pa ial aspec s o he amily sys em’s influence on he business: he amily’s goals o he
amily’s esou ces, espec i ely. The p esen concep ualiza ion o amiliness o e s a holis ic
iew by cap u ing he di e en a eas o he amily’s influence, aking he amily sys em as a
whole in o accoun (Daspi e al., 2019).
CONCLUSION
This e iew a icle has p o ided a comp ehensi e o e iew o amily i ms and hei
idiosync asies linked o inno a ion. Fo his pu pose, we e iewed 69 a icles published in
pee - e iewed jou nals om 2003 o 2021 combining a sys ema ic app oach o he selec ion
o a icles and a na a i e e iew o analyse he li e a u e. To answe he esea ch ques ion, he
e iew p ocess was conduc ed in wo s ages. Fi s , an in-dep h analysis o empi ical findings
o he a ious s ages o he inno a ion p ocess was conduc ed. Second, he a icles we e
sea ched sys ema ically o con en ha can enhance ou unde s anding o how he amily
influences hese s ages. Ou p emise is ha combina ion o mul iple indi idual ac o s d i es
amily i m inno a ion. As a esul , he findings a e econciled in a concep ual amewo k ha
p o ides a holis ic iew o he inno a ion p ocess by inco po a ing he amily sys em as an
influencing con ex a iable. Building on he concep o amiliness, he amewo k
demons a es how amily ac o s a ec he a ious s ages o he amily fi m’s inno a ion
p ocess. Whe he he amily se es as an ad an age o disad an age o a business’s inno a ion
beha iou depends on con ex ual ac o s.
Focusing on he Czech Republic we can s a e ha amily i ms a e a e y popula phenomenon
ha o ms he subs an ial pa o he Czech economy. Un o una ely, hey a e no gi en enough
a en ion by bo h esea che s and go e nmen au ho i ies. Fo example, he de ini ion o amily
business has been included in he law jus ecen ly. Mo eo e , only e y small numbe o
publica ions om he Czech schola s ha e been ound in selec ed scien i ic da abases dealing
wi h opics o amily i ms. He e he esea ch gab has been iden i ied.
Ou analysis con ibu es o he li e a u e on amily i ms and o gene al inno a ion
managemen s udies in se e al ways. I p o ides a comp ehensi e and opical o e iew o he
117
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es o Business
Resea ch, 9(5). 102-120.
URL: h p://dx.doi.o g/10.14738/ab .95.10221
successo s a e signi ican adop e s o lean
inno a ion pa en ing s a egies.
Clea y, P., Quinn, M. &
Mo eno, A.
Socioemo ional weal h in
amily i ms: A
longi udinal con en
analysis o co po a e
disclosu es
2019
Jou nal o
Family
Business
S a egy
2, UK
Family business li e a u e has no ed he na u e and
p esence o socioemo ional weal h (SEW) in amily
i ms. Au ho s obse e SEW by a i e-dimension
app oach, collec i ely e med FIBER. They
unde ake a con en analysis o co po a e
disclosu es h ough he Chai man’s S a emen o wo
I ish amily b ewe ies o e a pe iod o abou wo
decades. The indings e eal ha he Chai man’s
S a emen does include FIBER dimensions in bo h
b ewe ies and hey do change o e ime.
Daspi , J.J., Long, R.G. &
Pea son, A.W.
How amiliness a ec s
inno a ion ou comes ia
abso p i e capaci y: A
dynamic capabili y
pe spec i e o he amily
i m
2019
Jou nal o
Family
Business
S a egy
In .
e iew
Au ho s use a dynamic capabili y pe spec i e o
p opose ha amiliness a ec s abso p i e capaci y, a
knowledge-speci ic dynamic capabili y, h ough
which he i m’s inno a ion ou comes a e in luenced.
The concep ual model o e ed highligh s he ole o
abso p i e capaci y in unde s anding how amiliness
a ec s inno a ion ou comes and elucida es he
he e ogenei y ac oss amily i ms ha esul s om
non amily membe in ol emen .
De Massis, A., Di Minin, A.,
& F a ini, F.
Family-d i en inno a ion:
Resol ing he pa adox in
amily i ms
2015
Cali o nia
Manageme
n Re iew
In .
e iew
This a icle p esen s an in eg a ed, con ingency
pe spec i e on amily i m inno a ion called Family-
D i en Inno a ion (FDI). The amewo k highligh s
he need o consis ency be ween a amily i m's
s a egic inno a ion decisions and i s idiosync asies
o achie e and sus ain compe i i e ad an age
h ough inno a ion. This a icle also o e s some
di ec ions o u u e esea ch on FDI and se es as
an in oduc ion o his special sec ion on amily
i ms.
De Massis, A., F a ini, F.,
Ko la , J., Messeni
Pe uzzelli, A., & W igh ,
M.
Inno a ion h ough
adi ion: Lessons om
inno a i e amily
businesses and di ec ions
o u u e esea ch
2016
Academy o
Manageme
n
Pe spec i e
s
6, I aly
Au ho s concep ualize a new p oduc inno a ion
s a egy called inno a ion h ough adi ion and
iden i y i s unde lying capabili ies o in e io izing
and ein e p e ing pas knowledge. Au ho s analyse
and discuss he illus a i e cases o six long-las ing
amily businesses (Aboca, Ap eama e, Be e a,
La azza, Sangalli, and Vib am), exempli ying how
i ms ha build long-las ing and in ima e links wi h
hei adi ions can be ex emely inno a i e while
emaining i mly ancho ed o he pas .
De Massis, A., F a ini, F.,
Pizzu no, E., & Cassia, L.
P oduc inno a ion in
amily s. non- amily
i ms: An explo a o y
analysis
2015
Jou nal o
Small
Business
Manageme
n
10,
I aly
By d awing upon he esou ce‐based iew o he
i m as well as agency, s ewa dship, and beha iou al
heo ies and using empi ical e idence ga he ed
h ough a mul iple case s udy, he pape s udies how
and why he ana omy o he p oduc inno a ion
p ocess di e s be ween amily and non amily i ms.
Dieleman, M.
Reaping wha you sow:
The amily i m
inno a ion ajec o y
2019
Jou nal o
Family
Business
S a egy
Malays
ia
Using a longi udinal case s udy, au ho in es iga es
he in luence o amily go e nance a ibu es du ing
di e en s ages o inno a ion and sugges ha amily
en ep eneu ship acili a es he con e sion o
inno a ion inpu s o ou pu s. Family go e nance
a ibu es (con ol, moni o ing and ne wo king)
suppo inno a ion ac i i y du ing some phases, bu
impede i du ing o he s.
Du an, P., Kamme lande ,
N., an Essen, M., &
Zellwege , T.
Doing mo e wi h less:
Inno a ion inpu and
ou pu in amily i ms
2016
Academy o
Manageme
n Jou nal
In .
Au ho s a gue ha amily i ms – owing o he
amily’s high le el o con ol o e he i m, weal h
concen a ion, and impo ance o non inancial
goals—in es less in inno a ion bu ha e an
inc eased con e sion a e o inno a ion inpu in o
ou pu and, ul ima ely, a highe inno a ion ou pu
han non amily i ms. Empi ical e idence om a

118
Vol. 9, Issue 5, May-2021
A chi es o Business Resea ch (ABR)
Se ices o Science and Educa ion – Uni ed Kingdom
me a-analysis based on 108 p ima y s udies om 42
coun ies suppo s esea ch hypo heses.
Fe ani a, F., Ko la ., J. & De
Massis A.
Collabo a i e inno a ion
in amily fi ms: Pas
esea ch, cu en deba es
and agenda o u u e
esea ch
2017
Jou nal o
Family
Business
S a egy
In .
e iew
Au ho s sys ema ically e iew and o ganize
agmen ed indings and a gumen s om p io
esea ch along h ee pe spec i es: s a egic,
ansac ional, and ela ional. In doing so, hey
p o ide a summa y o he cu en s a e-o - he-a in
his li e a u e, poin o he impo ance o
collabo a i e inno a ion o esol e he inno a ion
dilemma in amily i ms.
Filse , M., B em, A., Gas , J.,
K aus, S., & Calab ò, A.
Inno a ion in amily i ms:
Examining he in en o y
and mapping he pa h
2016
In e na ion
al Jou nal
o
Inno a ion
Manageme
n
In .
e iew
By conduc ing a bibliome ic analysis wi h a ocus on
inno a ion in amily i ms, au ho s iden i y i e
opical clus e s ha help o unde s and he
ounda ions o ecen indings (owne ship and
go e nance, s uc u al se ings, o ganiza ional
cul u e and beha iou , esou ces, and inno a ion
and s a egy).
Fle che , D., De Massis, A.,
& No dq is , M.
Quali a i e esea ch
p ac ices and amily
business schola ship: A
e iew and u u e
esea ch agenda
2016
Jou nal o
Family
Business
S a egy
In .
e iew
Au ho s unde ook an analysis o he mos -ci ed
a icles using quali a i e me hods om an anno a ed
bibliog aphy o amily business s udies. They
iden i ied he s eng hs and weaknesses o ex an
quali a i e s udies in amily business esea ch and
a gue o he need o e-o ien a e calls in amily
business esea ch owa ds he ounda ional
ques ions ( a he han me hods) ha unde line
quali a i e inqui y.
Hauck, J., & P ügl, R.
Inno a ion ac i i ies
du ing in a- amily
leade ship succession in
amily i ms: An empi ical
s udy om a
socioemo ional weal h
pe spec i e
2015
Jou nal o
Family
Business
S a egy
Aus ia
( ou is
m
indus
y)
Au ho s eason ha he in a- amily leade ship
succession phase has dis inc cha ac e is ics ha
ende i a peculia ime ame o inno a ion. They
use quan i a i e da a om a unique esea ch se ing
in which amily in luence in e ms o owne ship and
managemen , and hus he abili y o inno a e, as well
as majo con ex ual a iables we e held cons an .
The esul s show ha SEW ac o s ha e bo h da k
and b igh sides in he con ex o inno a ion.
Hiebl, M. R. W.
Family in ol emen and
o ganiza ional
ambidex e i y in la e -
gene a ion amily
businesses: A amewo k
o u he in es iga ion
2015
Manageme
n Decision
In .
The pape aims o discuss he issue ha amily i ms
esea ch has no ye aken su icien ad an age o
he po en ial o o ganiza ional ambidex e i y o
con ibu e o explaining he abili y o la e -
gene a ion amily i ms o su i e. Se en
p oposi ions a e de eloped which sugges ha he
le el o amily in ol emen in owne ship and
managemen a ec he abili y o la e -gene a ion
amily i ms o each high le els o o ganiza ional
ambidex e i y.
Hol , D. T., & Daspi , J. J.
Diagnosing inno a ion
eadiness in amily fi ms
2015
Cali o nia
Manageme
n Re iew
In .
This a icle in oduces he Readiness o Inno a ion
in Family Fi ms (RIFF) amewo k, which p o ides a
diagnos ic assessmen and iden i ies mul iple ac o s
associa ed wi h inno a ion eadiness. By applying
he RIFF amewo k, manage s o amily i ms can
ocus on speci ic ac o s ha p epa e he i m o
engage in he inno a ion adop ion p ocess,
inc easing success.
Ch isman, J. J., Chua, J. H.,
De Massis, A., F a ini, F.,
& W igh , M.
The abili y and
willingness pa adox in
amily fi m inno a ion.
2015
Jou nal o
P oduc
Inno a ion
Manageme
n
In .
e iew
Au ho s p esen a amewo k o how amily
in ol emen in luences inno a ion managemen
based on abili y (disc e ion o ac ) and willingness
(disposi ion o ac ), wo d i e s ha dis inguish
amily i ms om non amily i ms and lead o
he e ogenei y among amily i ms.
Kallmuenze , A. & Pe e s,
M.
2018
In e na ion
al Jou nal
o
180,
Aus ia
( ou is
This s udy compa es he inno a i eness o
ou ism/hospi ali y amily i ms (THFF) and i s
e ec on inancial pe o mance o ha in non-
119
Zizla sky, O., & Janicko a, N. (2021). The Role o Inno a ion in Small and Medium-Sized Family Fi ms: A Li e a u e Re iew. A chi es o Business
Resea ch, 9(5). 102-120.
URL: h p://dx.doi.o g/10.14738/ab .95.10221
Inno a i eness and
con ol mechanisms in
ou ism and hospi ali y
amily
i ms: A compa a i e
s udy
Hospi ali y
Manageme
n
m
indus
y)
ou ism/-hospi ali y indus ies (non-THFF).
D awing on amily business li e a u e, au ho s also
analyse he applicabili y o con ol mechanisms o
manage he e ec i eness o inno a i eness. Findings
om a sample o 180 i ms (82 THFF and 98 non-
THFF) show ha inno a i eness in THFF is as
ele an o pe o mance as in non-THFF.
Kamme lande , N., &
Gan e , M.
A en ion-based iew o
amily i m adap a ion o
discon inui ies: The ole
o non- inancial goals
2015
Jou nal o
P oduc
Inno a ion
Manageme
n
7,
Ge ma
ny
(consu
me
goods)
Based on se en longi udinal case s udies in he
Ge man consume goods indus y au ho s e eal
how a iance in he amily CEOs’ non- inancial goals
causes subs an ial he e ogenei y in he amily i ms’
adap a ion beha iou ega ding he ype, speed,
in ensi y, lexibili y, and pe sis ence o hei
adap a ion.
Miglio i, S. De Massis, A.,
Ma u o, F. & Paolone F.
How does amily
managemen a ec
inno a ion in es men
p opensi y? The key ole
o inno a ion impulses
2020
Jou nal o
Business
Resea ch
1093,
I aly
Au ho s in es iga e he ela ionship be ween amily
managemen and inno a ion in es men p opensi y
in amily i ms h ough analysing he e ec o wo
inno a ion impulses: demand-pull and echnology-
push. The esul s show ha bo h he demand-pull
and echnology-push inno a ion impulses mode a e
he ela ionship be ween amily managemen and
he i ms’ p opensi y o in es in inno a ion,
educing he nega i e e ec exe ed by amily
managemen on amily i ms’ inno a ion in es men
p opensi y.
Nie o, M.J., San ama ia, L.
& Fe nandez, Z.
Unde s anding he
Inno a ion Beha io o
Family Fi ms
2015
Jou nal o
Small
Business
Manageme
n
Spain
This pape examines inno a ion beha iou in amily
i ms, analysing hei inno a ion e o s, sou ces, and
esul s. Using a la ge sample o Spanish i ms, he
indings show ha amily i ms pe o m ewe
inno a ion e o s and a e less inclined o u n o
ex e nal sou ces o inno a ion, such as echnological
collabo a ion, han non amily i ms.
Rau, S.B., We ne , A. &
Schell, S.
Psychological owne ship
as a d i ing ac o o
inno a ion in olde amily
i ms
2019
Jou nal o
Family
Business
S a egy
942,
Ge ma
ny
While some amily i ms inno a e less when g owing
olde , o he s a e e y success ul and inno a i e o e
mul iple gene a ions. Au ho s p o ide a new
explana ion o his phenomenon by showing ha
psychological owne ship can in luence he
ela ionship be ween gene a ion in owne ship and
inno a ion ou pu . In line wi h he li e a u e, we ind
ha o e he gene a ions, inno a ion ou pu
dec eases, being signi ican ly lowe in he hi d and
la e gene a ion han in he ounde gene a ion.
Röd, I.
Disen angling he amily
i m’s inno a ion p ocess:
A sys ema ic e iew
2016
Jou nal o
Family
Business
S a egy
In .
e iew
Au ho s p esen sys ema ic e iew a icle analyzed
78 pee - e iewed jou nal a icles on inno a ion in
amily businesses. Subsequen ly, a concep ual
amewo k is de eloped ha p o ides a holis ic iew
o he mul i-s aged inno a ion p ocess by
inco po a ing he amily sys em as an in luencing
con ex a iable. Building on he concep o
amiliness, he amewo k demons a es how amily
ac o s, based in he amily sys em, a ec he a ious
s ages o he amily i m’s inno a ion p ocess.
Whe he he amily leads o an ad an age o
disad an age o he inno a ion beha io o he
business depends on con ex ual ac o s (e.g.,
pe o mance haza ds, kind o amily in ol emen ,
and gene a ional e ec s) and i s and o emos on
he amiliness o he i m.
Rondi, E., De Massis, A. &
Ko la , J.
Unlocking inno a ion
po en ial: A ypology o
2019
Jou nal o
Family
Business
S a egy
I aly
Au ho s de elop he cons uc o amily business
inno a ion pos u e, and iden i y a ypology o ou
ideal ypes: Seasone , Re-enac o , Digge , and
Ad en u e . The a icle examines he implica ions o
120
Vol. 9, Issue 5, May-2021
A chi es o Business Resea ch (ABR)
Se ices o Science and Educa ion – Uni ed Kingdom
amily business
inno a ion pos u es and
he c i ical ole o he
amily sys em
his ypology o amily business inno a ion esea ch
by explo ing he e ec s o in a- amily succession,
ou lining impo an di ec ions o u u e esea ch
aimed a ad ancing cu en unde s anding o he
ole o he amily in amily business inno a ion, and
p o iding p ac ical insigh s o amily business
owne s, manage s, and consul an s.
Sau abh, A., Mah o, R.V., &
Walsh, S.T.
Inno a ion in small i ms:
Does amily s. non- amily
ma e ?
2017
Jou nal o
Small
Business
S a egy
USA
In his s udy, au ho s explo e an eceden s o
inno a ion in small i ms. They build and es a
heo e ical model ha links employee aining,
employee commi men , amily employees, and
emphasis on lea ning o inno a ion in small i ms.
Au ho s also a gue ha a small- i m owne ’s
pe cep ion abou his i m being a amily i m o a
non- amily i m will in luence he ela ionship
be ween p edic o s and i m inno a ion.
Vasquez, P. & Rocha, H.
On he goals o amily
i ms: A e iew and
in eg a ion
2019
Jou nal o
Family
Business
S a egy
In .
e iew
In his a icle, au ho s p esen a e iew and
in eg a ion o 76 a icles published in pee - e iewed
jou nals om 1992 o 2016 in o de o answe wo
esea ch ques ions: wha a e he goals o amily
i ms and how a e hey in eg a ed acco ding o
ex an esea ch? The indings a e wo old: i s , he
goals o amily i ms a e di e se and classi ied in
dicho omous ca ego ies; second, he majo i y o
s udies in eg a e hese goals based on a ade-o
logic.
Veide , V., & Ma zle , K.
The abili y and
willingness o amily-
con olled i ms o a i e
a o ganiza ional
ambidex e i y
2016
Jou nal o
Family
Business
S a egy
Building on a combina o y conside a ion o he
abili y and willingness amewo k in he con ex o
o ganiza ional ambidex e i y, au ho s a gue ha he
abili y o amily-con olled i ms o a i e a
o ganiza ional ambidex e i y is con ingen on hei
willingness o ace amily- ela ed disad an ages ia
ac i i ies ha allow o he educ ion o laws a ising
ou o amily- ela ed pa icula is ic cons i uencies.