Analyzing the Relationship Between Family Ownership Dispersion and R&D Investments: The Moderating Role of Market Turbulence
The main purpose of this research is to investigate the relationship between family ownership dispersion and R&D investments. Drawing on the socioemotional wealth perspective and the mixed gamble approach, this article suggests that family ownership dispersion is positively related to R&D expenditures. However, this positive relationship is weakened when the company evolves in highly turbulent markets. Empirical analyses from a sample of 284 private family firms confirm these predictions, shedding new light on the consequences of family ownership heterogeneity on innovation.