Family Firms and Entrepreneurial Orientation in Publicly Traded Firms: A Comparative Analysis of the S&P 500

Jeremy C. Short, G. Tyge Payne, Keith H. Brigham, G. T. Lumpkin, J. Christian Broberg

Research output: Contribution to journalArticle

164 Scopus citations

Abstract

There is considerable disagreement about whether family firm characteristics hinder or support entrepreneurial activities. This article highlights the existence of an entrepreneurial orientation in family firms, and it examines differences between family and nonfamily firms on the entrepreneurial orientation dimensions of autonomy, competitive aggressiveness, innovativeness, proactiveness, and risk taking, using content analysis of shareholder letters from S&P 500 firms. As such, family firms exhibit language consistent with an entrepreneurial orientation for all dimensions but use less language than that of nonfamily firms in relation to autonomy, proactiveness, and risk taking.

Original languageEnglish (US)
Pages (from-to)9-24
Number of pages16
JournalFamily Business Review
Volume22
Issue number1
DOIs
StatePublished - Dec 1 2009

Keywords

  • content analysis
  • entrepreneurial orientation
  • family firms

ASJC Scopus subject areas

  • Business, Management and Accounting (miscellaneous)
  • Finance

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