Family Management and Firm Performance in Family SMEs: The Mediating Roles of Management Control Systems and Technological Innovation
Author
Ruiz Palomo, Daniel; Diéguez Soto, Julio; Duréndez Gómez Guillamón, Antonio Luis; Santos, José Antonio C.Knowledge Area
Ecologíal; Tecnologías del Medio AmbienteSponsors
This research was funded by Fundacion Espanola para la Ciencia y la Tecnologia, grant number: UID/SOC/04020/2013. The APC was funded by Universidad de Malaga and Universidad de Cartagena. Authors may acknowledge prof. Domingo García-Pérez-de-Lema and the two anonymous reviewers for their comments and improvements.Realizado en/con
Universidad Politécnica de Cartagena; Universidad de Málaga; Universidad de AlgarvePublication date
2019-07-11Publisher
MDPIBibliographic Citation
Ruiz-Palomo D, Diéguez-Soto J, Duréndez A, Santos JAC. Family Management and Firm Performance in Family SMEs: The Mediating Roles of Management Control Systems and Technological Innovation. Sustainability. 2019; 11(14):3805. https://doi.org/10.3390/su11143805Peer review
SiKeywords
Family businessPerformance
Management control systems
Innovation
SMEs
Partial least squares
Abstract
The aim of this research is to analyze the mediating role of the use of management control systems (MCS) and the achievement of technological innovation (TI) in the relationship between family management and firm performance in family small and medium-sized enterprises (SMEs). A questionnaire was conducted by 617 managers of family SMEs in Spain, and our model was tested using partial least squares. Our findings show that both MCS and TI play crucial mediating roles in the understanding of the relationship between family management and firm performance. As a result, family-managed firms that utilize MCS and produce TI are much more likely to generate better performance. These results encourage family managers to use formal MCS because in that way they will contribute to obtaining better firm performance, directly and indirectly through TI. We focus on private family SMEs, because these specific firms contribute significantly to the economies worldwide. This paper contributes to resolve ...
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