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Corporate Venturing Determinants in Mexican Family Firms

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Entrepreneurship and Family Business Vitality

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Abstract

The objective of this study is to explore whether factors related to the focus of both the ability of the CEO to interpret the environmental signals and identify business opportunities and the characteristics of the firm in terms of previous innovation experience and ability to learn from that experience can determine the decision to enter into corporate venturing (CV) in Mexican family firms. Besides, we will consider the moderating effect of family members’ willingness to change on these relationships. In order to explore the proposed relationships, a theoretical framework that encompasses arguments from the resource-based view, the knowledge-based view, and the upper-echelons theory are used. To test our hypotheses, we conducted a study among CEOs in Mexican family firms of all sizes and performed a binomial logistic regression analysis based on a sample of 136 family companies across all sectors. The results obtained indicate that individual and firm variables are highly significant. All the variables except organizational learning, the effect of which is adverse, demonstrated positive effects, and this variable, also, is the only one moderated by the willingness to change.

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Notes

  1. 1.

    Confidence level: 95% (z = 1.96; p = q = 0.5).

  2. 2.

    Results of the Mann–Whitney test: sector p-value = 0.306 and size p-value = 0.355.

  3. 3.

    The linear discriminant model is sensitive to the assumption that independent variables are normally distributed. This assumption is violated when, as in this case, several explanatory variables are qualitative.

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Authors and Affiliations

  1. Instituto de Emprendimiento “Eugenio Garza Lagüera”, Tecnologico de Monterrey, Monterrey, Mexico

    Luis Arturo Torres-García

  2. University of Cantabria, Santander, Spain

    M. Concepción López-Fernández & Ana M. Serrano-Bedia

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  1. Luis Arturo Torres-García
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  2. M. Concepción López-Fernández
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  3. Ana M. Serrano-Bedia
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Correspondence to M. Concepción López-Fernández .

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  1. EGADE Business School-Tecnologico de Monterrey, Zapopan, Jalisco, Mexico

    José Manuel Saiz-Álvarez

  2. University of Beira Interior, Covilhã, Portugal

    João Leitão

  3. Universidad Autónoma de Chihuahua, Chihuahua, Mexico

    Jesús Manuel Palma-Ruiz

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Torres-García, L.A., López-Fernández, M.C., Serrano-Bedia, A.M. (2020). Corporate Venturing Determinants in Mexican Family Firms. In: Saiz-Álvarez, J.M., Leitão, J., Palma-Ruiz, J.M. (eds) Entrepreneurship and Family Business Vitality. Studies on Entrepreneurship, Structural Change and Industrial Dynamics. Springer, Cham. https://doi.org/10.1007/978-3-030-15526-1_14

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