Family SMEs and Collaboration in Innovation: Does the 'Managerial Factor', Extraneous to the Family, Make the Difference?

Literature suggests that family firms are characterized by specific values and resources (i.e. risk aversion; family identity and SEW preservation; limited cognitive resources; social capital) and that these values/resources exert a role in shaping family firms’ behaviour also as concerns strategic partnering. However, literature recognizes also that family firms are not all alike and thusthese values and resources can assume different connotations also among the family firms. We aim to focus on different types of family firms: family firms stricto sensu for which ownership and management overlap (both hold by family members) and managerial family firms for which ownership and management are disjointed and non-family managers are involved in strategic decision-making. Evidences seem consistent in outlining the profile of the managerial family firms with respect to the family firms stricto sensu: they seem to show an innovation strategy more aggressive, more oriented to technology excellence and to radical innovation. Moved by this strategic aim, they search for a broad set of external sources (even non-traditional partners, as universities), motivated mainly by goals of competence (in particular technological competences) enlargement. More in general, we argue that ownership of the family firm is not relevant, while the “managerial factor” makes the difference in shaping partnering behaviour.