International expansion of U.S. manufacturing family businesses: the effect of ownership and involvement |
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| Institution: | 1. Indian Institute of Management Bangalore, India;2. Indian Institute of Management Ahmedabad, India;3. Coles College of Business, Kennesaw State University, USA;1. John Molson School of Business, Concordia University, Montreal, QC, Canada;2. Culverhouse College of Commerce & Business Administration, University of Alabama, Tuscaloosa, AL 35487-0225, United States;3. WHU-Otto Beisheim School of Management, Burgplatz 2, 56179 Vallendar, Germany;1. Professor and Chair of Corporate Management & Change, WHU – Otto Beisheim School of Management, Burgplatz 2, 56179, Vallendar, Germany;2. Professor and Chair of Corporate Finance, WHU – Otto Beisheim School of Management, Burgplatz 2, 56179, Vallendar, Germany |
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| Abstract: | Family firms play an important role in today's global economy. However, limited empirical research has identified factors that spur these firms' internationalization. Highlighting the altruism that pervades family firms, this exploratory study examines the individual and interactive effects of family ownership and involvement on subsequent internationalization of a firm's operations. Results from the analyses of 409 U.S. manufacturing firms show that family ownership and involvement in the firm as well as the interaction of this ownership with family involvement are significantly and positively associated with internationalization. The implications of the findings for research and managerial practice are discussed. |
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