Family firms, R&D, and internationalization : the stewardship and socio-emotional wealth perspectives

Research output: Journal Publications and Reviews (RGC: 21, 22, 62)21_Publication in refereed journalpeer-review

19 Scopus Citations
View graph of relations


Related Research Unit(s)


Original languageEnglish
Pages (from-to)91–119
Journal / PublicationAsia Pacific Journal of Management
Issue number1
Online published3 Jun 2019
Publication statusPublished - Mar 2021


This study draws on stewardship theory and socio-emotional wealth theory to postulate the moderating impact of family ownership on the relationship between research and development (R&D) and firm internationalization. In particular, it focuses on how the relationship between R&D and internationalization differs between family firms managed by a CEO who is a family member and family firms that are managed by a CEO from outside of the family. Based on longitudinal data gathered from 2000 through 2006 from 179 publicly listed high-tech firms in Taiwan, the results reveal that family CEOs further positively moderate the positive relationship between R&D and firm internationalization, while the moderating effect of non-family CEOs proved weaker regarding R&D and firm internationalization.

Research Area(s)

  • Asia, Family firms, Innovation, Internationalization, R&D, Socio-emotional wealth theory, Stewardship theory, Taiwan