INNOVATIONS IN FAMILY BUSINESS: SUCCESSION AND ITS INFLUENCE ON SOURCES OF INVESTMENT

Kód výsledku v IS VaVaI

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Výsledek na webu

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DOI - Digital Object Identifier

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Jazyk výsledku

angličtina

Název v původním jazyce

INNOVATIONS IN FAMILY BUSINESS: SUCCESSION AND ITS INFLUENCE ON SOURCES OF INVESTMENT

Popis výsledku v původním jazyce

Purpose: This research paper is dedicated to innovation in family businesses. The aim is to determine whether the degree of innovation in family businesses is related to the advent of successor generation, what kind of approach to innovation the successor generation has and what level of innovation in family businesses depends on other selected factors. Design/methodology/approach: The methodology is based on the study of foreign and domestic sources and subsequent empirical research. The interviewing process took place between December 2018 and October 2019; research was built on 151 respondents of family businesses in the Czech Republic A graphical representation was used to evaluate the questionnaire followed by quantification of the association rates. The results were then tested using Pearson&apos;s test. Findings: There is a relationship between succession in family businesses and the choice of different sources of invention and finance for innovation activities. And the greatest effects in implementing innovation are achieved by generations working together. Research/practical implications: The conclusions can be used to plan succession and a takeover in a family business. Research shows that family businesses are likely to generate disagreement among its members, hence it would be useful to continue further research on other aspects of succession, such as the age of active family members (founders and successors), the goals of innovative activities or reasons for using different sources of financing. Originality/value: The research addresses not only innovation and innovativeness in family businesses but also examines how the successor generation has an impact on the frequency and degree of innovation in family businesses. The main benefit of this research is that it brings significant insights into the approach and influence of the successor generation on the innovation of Czech family businesses.

Název v anglickém jazyce

INNOVATIONS IN FAMILY BUSINESS: SUCCESSION AND ITS INFLUENCE ON SOURCES OF INVESTMENT

Popis výsledku anglicky

Purpose: This research paper is dedicated to innovation in family businesses. The aim is to determine whether the degree of innovation in family businesses is related to the advent of successor generation, what kind of approach to innovation the successor generation has and what level of innovation in family businesses depends on other selected factors. Design/methodology/approach: The methodology is based on the study of foreign and domestic sources and subsequent empirical research. The interviewing process took place between December 2018 and October 2019; research was built on 151 respondents of family businesses in the Czech Republic A graphical representation was used to evaluate the questionnaire followed by quantification of the association rates. The results were then tested using Pearson&apos;s test. Findings: There is a relationship between succession in family businesses and the choice of different sources of invention and finance for innovation activities. And the greatest effects in implementing innovation are achieved by generations working together. Research/practical implications: The conclusions can be used to plan succession and a takeover in a family business. Research shows that family businesses are likely to generate disagreement among its members, hence it would be useful to continue further research on other aspects of succession, such as the age of active family members (founders and successors), the goals of innovative activities or reasons for using different sources of financing. Originality/value: The research addresses not only innovation and innovativeness in family businesses but also examines how the successor generation has an impact on the frequency and degree of innovation in family businesses. The main benefit of this research is that it brings significant insights into the approach and influence of the successor generation on the innovation of Czech family businesses.

Druh

D - Stať ve sborníku

CEP obor

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OECD FORD obor

50204 - Business and management

Projekt

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Návaznosti

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Rok uplatnění

2020

Kód důvěrnosti údajů

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Název statě ve sborníku

PROCEEDINGS OF THE 8TH INTERNATIONAL CONFERENCE INNOVATION MANAGEMENT, ENTREPRENEURSHIP AND SUSTAINABILITY (IMES 2020)

ISBN

978-80-245-2378-1

ISSN

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e-ISSN

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Počet stran výsledku

14

Strana od-do

153-166

Název nakladatele

OECONOMICA PUBLISHING HOUSE

Místo vydání

PRAGUE 3

Místo konání akce

Prague

Datum konání akce

28. 5. 2020

Typ akce podle státní příslušnosti

EUR - Evropská akce

Kód UT WoS článku

000589725700013